Investor vs Realtor
So, you’re in the need to sell your home quickly, but not sure what to do? Maybe you are just trying to figure out the whole process of how it all works. There are different types of investors out there to talk to. Some investors will talk to you on the phone and after looking at the property online and knowing what you tell them, they can possibly make an offer over the phone. Other investors will schedule an appointment to go look at the property and evaluate the situation to give an exact offer after talking on the phone. Then there are investors who do a pre-qualification over the phone (like Gulf State Homebuyers) and if that goes well, come look at the home to make an offer. Each type gets a little more serious about what type of home they give offers to, they are looking for more serious or motivated sellers. So, make sure you find out what kind of company they are before agreeing to have them come out to evaluate your property. How do you know if they are the right type of investors for you? First, let’s break down what a Real Estate Investor is and how they work, then we will get into the benefits of selling to an investor.
Who are investors?
A Real Estate Investor is a company or person who actively invests in buying a property, makes repairs and/or improvements, and sells it for a profit. Most all investors buy homes in every situation: Lost a job, home flooded, in foreclosure, had fire damage, going through a divorce, inherited property, bankruptcy, back taxes, unpaid mortgage payments, and more. Let’s face it, all investors are in the business to help people and buy as many homes as they can, but some focus on certain aspects more than others. Some investors will be all about the money, they offer more than all other investors to try and get more deals. Others pride on their speed and customer service to their clients. Not at all am I saying either is the wrong way to do it, I am not sure there is even a wrong way to do it. You just need to figure out what is more important to you, getting the highest offer possible or the best experience you can get.
Even though it doesn’t feel like it, there are many benefits to selling your home to an investor. One of the biggest benefits is that you will not have to put in any money to repair or update your home, an investor will buy it in any AS-IS condition. No need for you to repair, update, or even clean the home because investors have people who do that for you. Another great reason is that you don’t have to pay any commission, fees, or closing costs. This means you will get to keep more of the money offered to you and that alone is a huge perk. Then there is of course one of the biggest perks, that is not having to market your home and play the waiting game to try finding a buyer. Waiting can cause you more heartache due to closing at a later date than you wanted as well as still having to pay a mortgage on the home until it is sold. In a nutshell, an investor can offer you speed, convenience, sureness of close, flexibility with your schedule, buy as-is, and pay cash.
You always have the option of using a realtor to sell your home, but there are a few things to consider if you choose to take this route. You must market your home at a price above market value knowing that people will finagle you down on price, not to mention having to pay realtor commission and closing costs. Selling your home on the market through a realtor also requires you to do repairs and updates on the home, trying to lure in the buyers. Once your home does go on the market, you will have to wait for the right buyer to come along and give you what you’re asking. This could happen within days, or it could take months.