Do you want to sell your house quickly? You must have come across those commercials advertising all-cash deals for houses. If not on TV, you must have seen these signs saying ‘Quick Closing Home Deals’ or ‘Get Cash For Your House Today’ or similar wordings. If you’re wondering, who are the people behind these ads and what do they do, here is what you should know about the role of investors or flippers in the real estate industry.
While most of the homes are bought by buyers looking to live in the property, there is also a big niche wherein investors buy properties to flip at a later date for some profit. It is estimated that almost 15% of the real estate transactions are made by these real estate investors. Thankfully, these investors are a boon for sellers like you who are looking for quick closing home deals.
Selling Home the Traditional Way
If you want to sell your home in the traditional manner, you will go to your nearest real estate agent and ask them to list your home on MLS. Your friendly, neighborhood real estate agent will ask you to sign a contract stating that you can close the deal only through that particular real estate agent. In other words, if you do some legwork and are able to find a buyer on your own, you will still have to pay the commission fees to the real estate agent as you have signed the contract.
The real estate agent will suggest to spend some money on repairs and on various other things. You will also have to take time out of your schedule for the staging, and making sure that everything in your home looks good when prospective buyers take a tour of the property. Even then, there is absolutely no guarantee that you’ll be able to sell your house at the asking price.
Additionally, you have to pay anywhere from 3% to 6% of the closing price as commission fees to the real estate agent. There are also closing costs and a lot of paperwork to deal with.
Selling Home to Real Estate Investors
There are several advantages of selling your house for cash to real estate investors.
One of the biggest advantages is that they do not require homeowners to spend any money on repairs or other such things. They typically buy a house in as-is condition. Needless to say, repairs not only cost a lot of money but are also time consuming and you can avoid all that by selling to investors.
Another big advantage of selling to investors like Wren Realty offering cash for your house is that they are investors which means they have the financing in place to close the deal. This allows you to avoid contingencies that are part of the house contracts. These contingencies allow buyers to back out without any issues, after making an offer. For instance, when buyers make an offer, it usually comes with the contingency that the current home of the buyer should sell within the next three months or the mortgage lender has to come through for the offer to be valid.
In other words, selling your house to reputable investors typically means that the deal will close and you will get money in your account. There are no contingencies.
Also, real estate investors do not use any agents or brokers to close the deal. They are experienced investors who already have a team in place to take care of all the paperwork and other such issues. The only thing you need to do is give them a call or submit the details of your property on a website. They’ve do some checks and if the property meets their buying criteria, they will make you an all-cash offer. If you choose to accept their offer, they will most likely close the deal within the next 7 to 10 days. You won’t have to pay any commission fees or any other fees when selling home to investors offering quick closing home deals.
It is important for you to keep in mind that there are also some bad apples in this industry who try to take advantage of desperate homeowners looking to sell the property quickly. Therefore, it is important that you do some research and only deal with companies that are known to be reputable and have been active in the industry for many years.
Overall, there are a lot of advantages of selling your house to real estate investors. You will be able to sell your house quickly and you won’t have to pay any commission fees. Also, you won’t have to deal with phony buyers. However, you do need to do some research in order to choose the right company offering to buy houses for cash. So, do your research and find a respectable and reliable company offering such deals in order to sell your house quickly.