There are pros and cons to selling your home to a Real Estate Investor. I am going to do my best to help you make an informed decision. Real estate investors are skilled at bringing distressed property back to its former glory. You can also sell your home to a real estate investor without having to pay real estate commissions. Another added benefit is that you won’t have to suffer the inconvenience of having strangers walking through your home, criticizing its current condition.
There are some pros of selling to a Real Estate Investor. Some Investors offer Flexible Payment Options such as cash, pre-scheduled cash payments, certified checks, or they may even take over the current mortgage entirely. With several different payment options offered, sellers may find a solution that meets their requests. Many Investors have Cash Offers – Fairly often investors are ready to pay cash for a house and with the current financial constraints, together with the increasing number of low appraisals, having a cash buyer has become even more attractive. Selling Any Condition or “As Is” – There are many investors that are willing to buy a property “as is,” many times sight unseen. This will allow you to avoid any expensive repairs that would normally be your responsibility. Quick and Fast Closings – There are investors who can close in as little as 3 days. How is that possible? Because the sale of the property is not subject to approved financing, appraisal cost, house examinations; not having these steps accelerates the procedure significantly.
There are also some cons when selling to a Real Estate Investor. You don’t know anything about the person buying your house. Some investors are individuals, but some are businesses. Some sellers are concerned about a motive as to why the investor wants to buy their house. Scam Artists Posing as Investors – In any financial transaction, there is a risk, but it’s particularly critical to evade scams when it come to your biggest asset. Get the name of the investor and do research online to see who they are, ask for references, these are great ways to avoid any issues, if they are not willing to answer your questions and provide you with this information then don’t sell them your house. Sell Below Market Value – Investors have their own costs to consider and you can be certain that those costs will be factored into their offer. Investors are also aware of the influence behind a cash offer and the fact that they are obtaining the risk by buying “as is.”