Advantages and Process of Selling Your House to a Cash Investor
So you’ve finally decided you need to sell your house to a cash buyer, and you’re in search of tips that will help you with the whole process. This is actually the best option you’ve got if you want to keep the transaction as efficient as possible.
First off, here are the main advantages you can expect from selling your house for cash:
> It’s faster compared to selling in the open market or with the help of a realtor.
> Loan or mortgage-related delays can be totally avoided.
> You can just sit back and let the buyer handle almost everything, if not everything, required in a real estate sale transaction, such as inspections, taxes, etc.
> Deals can close in as short as 48 hours, provided both parties have agreed on a price and there are no legal impediments.
> You can save money on repairs or renovation because investors will purchase properties “as is.”
> You pay no agent commissions, and most, if not all, of the costs of selling your house will be shouldered by the cash buyer.
The Process of Selling a House to an Investor
Naturally, the first step is to find an investor who will purchase your house. Take note that there are many out there, both individuals and companies, and that they are not all created equal. Hence, you need to be careful when choosing one, starting with doing a bit of research. You can look for investors on the Internet or ask for referrals from people you know. Then research the background of each prospect you have, focusing on their background in the business, their reputation, etc.
You should be able to narrow down your list to two or three after your research. Having more than one option is important because it allows you to compare before making your final choice.
Now you can call every investor on your list and inquire about their services. For example, do they offer free valuations? Will they pay the legal fees?
Once this is out of the way, you can proceed to the valuation process. This is where the investor tells you the price for which they can buy your house. Of course, you should know the current market trends in your area for you to determine if the offer is fair enough to you.
Once you have agreed on an amount, you can ask them to give you a timetable as to the process. Lastly, assuming you have never tried selling a house to a cash buyer, you also need to find out how much support they can offer.