Selling your house fast is not an easy thing to do and especially when circumstances force you to. You may need to sell your property quickly because you are almost losing your house due to foreclosure or other financial difficulties. Or you have inherited a house, and you want to off-load it quickly because it requires some massive renovations and repairs. Regardless of the reason, you can sell your home quickly to a cash buyer without the fear of a breakdown in the property chain. However, before you sell your house fast to an investor, you should evaluate the benefits and drawbacks enabling you to make a wise decision.
Pros Of Selling Your House Fast
Real estate investors buy houses in their current condition to flip them. Selling your home this way will help you avoid some costly repairs and renovations that would have been considered initially as your responsibility. If you cannot afford to make necessary repairs or stage the house yourself, selling to a real estate investor could be your best alternative.
Since the selling your house is not dependent on home inspections, appraised values and approved financing, the real investor can close in on your house within one week. The selling process would be expedited considerably by bypassing all these steps.
Most often the real estate investor will offer you cash for your house and due to the current financial restrictions and massive complaints about low appraisals, selling your house to a cash buyer may look more appealing.
Flexible Payment Options
An investor may offer you different methods of payment such as prescheduled cash payments, cash, certified fund or they may completely take over your existing mortgage. Due to the availability of multiple options of payment, you will easily find a solution that will suit your needs best.
Cons Of Selling Your House Fast
The Investors Do Not Require A License To Buy
Since the investors don’t need a license, it means that you as a seller know absolutely nothing about the individual offering to purchase your house. Most of the real estate investors are either corporations or persons who just happen to be in real estate business. This situation may be a cause for alarm since it’s difficult to know the motive behind the purchase of your house. Before you decide to sell your home fast, ensure you research on the investors, and you can also ask for their credentials and experience.
Homeowners Selling Below The Market Value
The real estate investors will always have their costs to contend with, and this means that these expenses will be factored in the price they offer you for the house. The investors also understand the power behind the cash offer and the risk they are taking by buying your home in its current condition. Whatever their reason, it is improbable that the investor will give you the market value of your home.
There are Many Scam Investors
There is a very high risk of fraud in every financial transaction, but it is imperative to avoid any scams especially when you are dealing with a tremendous asset. To prevent such issues, research the investors online to know who they are and also ask for some references. You can also request your listing agent to do the research for you.