You have listed your home for sale and are hoping for a buyer that will fall in love with it and give you the best price for it, maybe even a big amount over asking. Yet, the most unexpected thing has happened: an investor has approached you and wants to buy your property.
What should you do? Should you say yes or wait for a nice family to make an offer and move in? There are certainly pros and cons when thinking of selling your home to an investor. Read about some of them before you make your decision. This way you can be sure to make the best choice for your situation.
Were you thinking of improving the curb appeal? Painting? Doing something with the landscaping? Redoing the kitchen or bathrooms? Anything you might have thought to do in order to attract a buyer is not necessary when selling to an investor since the house will probably be renovated and flipped.
An investor has the funds needed to buy the property. They are not waiting to be approved for a mortgage and are just as interested as you in having this done as soon as possible.
An investor may take over your mortgage, they may also rent the house back to you. This gives you flexibility if you are not yet sure as to where you are going to move to.
An investor knows that what they are buying will need work in order to be flipped. Since they don’t expect you to do the work, they will assume the risk and give you less for the property. They know they will have to absorb the closing costs and even back taxes if there are any outstanding. If the offer is too low, you may want to bit the bullet and wait until a buyer makes you a good offer.
Before accepting an offer from an investor, do some online research on them to make sure they are who they say they are. You may go so far as to ask for a reference from the Better Business Bureau if you have any doubts. It’s better for you to wait for a regular buyer than to risk the property you own.
If your potential investor is not an American citizen, they may be aced with tax issues in their home countries. This could result in delays and problems when the time comes to do the closing. Again, do your research before saying yes to an international investor.
Putting your house up for sale is not an easy thing to do, particularly if it’s your first time selling a property. Don’t risk your investment by falling for a fast-talking investor. Take the time to do the necessary research, in the end, the time you put into the sale of the house will pay off and give you the result you are hoping for. Learn more quick home sales about making the right decision when selling your home and be ready to move to better and brighter pastures.