If you have a house you would like to sale, you’ve more than likely seen many signs along the roadside that read, “I Buy Houses!” or perhaps you’ve even received an offer from a real estate investor. Should I sell my house to a Real Estate Investor (REI) instead of listing with a realty company? This is a question that many people are facing in the real world today. There are lots of things to consider when selling your house. You made need to ask yourself some of the following questions. How fast do I want to sell? Do I need to do any repairs to my house before I can sell it? Can I really get what my house is worth? Can I afford to wait 30 days or maybe even a year before it sells? What if I still owe money on my house?
Over the last decade the real estate market has changed dramatically and being contacted by an investor is more and more common. If this is your first experience selling to an investor you may skeptical and you have every right to be. There are Scam Artists that are posing as Investors, to protect yourself do some research on the investor. Look them up online, find out if they are local, ask questions, and ask for references. If the investor is not willing to answer your questions and provide you with this information then don’t sell them your house. If the investor answers all your questions and you decide to proceed with the investor you may have some questions about the process. Here is an example of the basics on the process; the investor will discuss your property with you, make you an offer, discuss payment type, finalizing the sale, you receive your payment. This can all be done in as little as 3 days and usually the investor pays the closing cost. If you decide to use a real estate investor my advice to you is find someone local, meet in person, and ask questions about anything you do not understand and do your research.
There are some pros and cons to selling to a Real Estate Investor or using a Realtor. Those will be discussed in future blogs.