Relocating puts pressure on you to sell your house as soon as possible. Whether you are downsizing your home after a life change or you can no longer afford your current mortgage payments, selling your house should be simple so you can move forward.
In these situations, it’s not always ideal to go the traditional route, so you may look to investors as a solution.
When looking at how to sell your house to an investor, it’s important to weigh the pros and cons. This article will guide you through the selling process when it comes to investors so you can make the best decision for your situation.
Before researching how to sell your house to an investor, it is important to understand their role in the home selling process.
Though there are subcategories in real estate investment, there are two main types of investors:
Active real estate investors engage in the investment process often through strategies like purchasing and renovating properties for profit.
Passive real estate investors take a more hands-off approach by providing financial backing to others undertaking real estate projects.
Why is this important? If you want to sell your home quickly due to a relocation, an active investor may be your best option for a quick turnaround.
Selling your house to an investor eliminates the hassles that come with traditional home selling, such as repairs, listing your house on the market — and the waiting that comes with it. Investors can get you to a closing fast so you can settle your finances quickly.
Here is how selling to an investor addresses these pain points:
Selling your house to investors can provide a quick resolution to issues you may be facing, such as being behind on your mortgage payments or not being able to afford expensive repairs.
Some investors can close your sale in under a week, mitigating your losses and providing certainty.
It is important you are paid in a manner that is convenient for you.
Selling your house to investors like Big State Home Buyers ensures that you’re paid cash at closing, so you have the means to cover your relocation expenses.
Selling to an investor means you don’t need to front the money for repairs and renovations before selling your home. This is a great option if you can’t cover repairs comfortably or if you need to relocate in a short timeframe.
While the benefits listed make selling to an investor a suitable alternative when you’re selling your home in a hurry, there are downsides.
Investors are buying record numbers of properties, and the industry seems to be gaining more traction over the years. The rise in real estate investors — in an unregulated field when it comes to training and licensing — means the risk of working with untrustworthy investors.
When looking into how to sell your house to an investor, research their credibility online by looking at customer reviews and use your best judgment to ensure a fair price for your home.
Apart from reviews, you can also check the Better Business Bureau (BBB) website for buyer credibility. Legitimate home buyers must meet ethical standards to qualify for BBB accreditation, the organization rates companies on an A+ to F grading system to help determine trustworthiness.
Selling your house to investors means selling below market value. The exchange is that you can sell your home quickly, you won’t have to pay realtor fees, and you won’t need to pay for repairs.
But these costs don’t go away — the investor who buys your house will ultimately sell the house down the road, so the renovation cost and brokerage fees are factored into the price you get when selling to a real estate investor.
As mentioned previously, working with an investor can be risky. Ensuring you work with a reputable investor means additional steps in the selling process.
When selling your house to an investor, you can expect the following timeline:
Selling your home to home buyers makes relocating easier and ensures you get the most from your home.
The process includes the following steps:
Discover a better way to sell your house with Big State Home Buyers. Receive a fair and honest offer with no obligation or pressure. Our experienced professionals ensure a quick assessment, a firm cash offer, and a swift closing, handling all paperwork and details.
Contact us today to get started.