If you are planning to sell off your home fast, chances are high that you must have noticed those roadside signs which read “We buy homes fast!” You must have even received an offer from a real estate investor who is interested in buying your home fast. Well, if you have a little bit of knowledge about the present market, you would know that the real estate market has changed drastically over the last few decades. Nowadays, it is very common for a home seller to confront an investor. However, if you’re like majority of the home sellers, who don’t have enough experience, this might be the first time you’re dealing with them. Have you ever wondered about the benefits and pitfalls of selling your real estate property to an investor? If answered no, check them out.
Benefits of selling your home to an investor
- Repayment options are flexible enough: The real estate investors offer different methods of payment like cash, certified funds, pre-scheduled payments in cash or they might even take the present mortgage entirely. As there are multiple options, the sellers can get various options according to their needs.
- Sellers can sell “as is”: Typically, it is seen that most investors love to purchase a real estate property “as is” and many times they don’t even visit the sight. Being a seller, you can avert making any expensive repairs which would otherwise be deemed as your fiscal responsibility.
- Offers in cash: Majority of the investors are willing to pay cash for a home that they buy. Now that the economic restrictions are there along with a rise in the number of complaints about very few appraisals, having a buyer who wants to buy with cash is definitely better.
Pitfalls of selling to a real estate investor
- Investors don’t require license to buy: This means that being a seller; you won’t ever get to know anything about the person who is buying your home since he won’t show you a license. Although some investors are corporations, but some others are just real estate agents. You should know whether they are eager to buy it from you or sell it again.
- Beware of the scam artists: With regards to any particular financial transaction, there is always a risk of fraud. And it is especially important to avert any kind of scams when you’re dealing with the most valuable asset of your life. In order to avert any issues, know the name of the investor and do a comprehensive online research to know who they are. Look up for them in the BBB (Better Business Bureau) and ask your listing agent too.
So, if you’ve come across a hoarding that reads South Florida cash for homes, make sure you consider the pros and cons of selling your home in lieu of cash to real estate investors. Make an informed decision so that you don’t regret in the long run.