Are you in a rush to sell your house? Are you saying to yourself, “I need to sell my house today!”. There are property owners and house owners that face tough situations everyday, and don’t have time to wait out the typical list it with a realtor method. Typically when homeowners list their property with a realtor, it’s close to two months to get the house sold. What all goes into this timeframe?
First, the homeowner has the selling agent do a walkthrough to determine what all needs to be repaired to get the house retail ready like the other houses already on the market. The homeowner calls a few handymen and after a couple weeks, all the repairs are completed. The owners then spend about a week cleaning the house and getting it all ready for showings. The realtor then brings in a photographer to take photos and after this nearly monthlong process, the house is finally listed.
Then it’s just a waiting game. There will be potential buyers and their agents coming and going throughout the day, requesting to come in to see the home. Finally after receiving some low-ball offers, the right price comes along. Then its typically a month from having it under contract until the closing on a conventional loan. Then this timeframe may be extended depending how negotiations go with repair requests or closing cost requests. Most buyers request either assistance with closing costs, and some will request items to be repaired, depending on how the home inspection goes.
You can see how typically selling methods can take upwards of two months if everything goes as planned. An alternative would be to sell to a real estate investor. Here’s some of the benefit of selling to an investor instead of a typical retail buyer.
- They can close quickly – typically investors buy with cash..this closing can be 7-10 days using a local experienced closing attorney.
- They buy “as-is” – they don’t mind houses that need repairs and they don’t mind a mess. They buy the house as-is without requesting you to perform costly repairs or clean-up.
- There are no realtor commissions – since they are buying direct from you there is no 3% buyer’s agent fee and no 3% seller’s agent fee. That’s a savings of 6% of the sales price. ($6000 for a $100,000 sales price).
- Depending on the sales price you agree on, sometimes they can assist with moving expenses. This would certainly make the transition to your next home a little easier.
- In most cases, they can cover all of the closing costs. It’s not uncommon for closing costs to reach 3% of the sales price. ($3000 for a $100,000 sales price).
- Privacy – you can simply call an investor and put together a deal directly with them, eliminating the need to publicly market your home and have to deal with all types of buyers, tire kickers, agents, etc.
- To ensure a prompt sell of your home, if you choose to contact an investor, clearly spell out what you are trying to accomplish. Let them know how soon you need to close or how long you need to wait to find another property. Be clear on any major repairs that the house needs. Also let them know of any major back payments, back taxes, judgments or liens on the property. You may choose to try to keep this a secret, however they will perform a title search before closing and any encumbrances on the property will come up and the investor may not have time to act quickly enough to pay for these items and still close at the time you need. Be honest and transparent with the investor so they can help solve your problem.