These days it seems the signs are common — “We buy houses for cash.” Many people who are interested in selling are skeptical, and there are some good reasons for that skepticism. During the real estate downturn of the past several years, unscrupulous “flippers” and outright scam artists targeted owners facing foreclosure who were desperate to sell homes, making difficult situations even worse.
The real estate market has improved; prices are trending upward and number of days on market is lower in almost all markets. But, readying a home for sale almost always requires at least some expenditure of time and money in order to obtain the highest possible price in the shortest amount of time. Sometimes, there are overriding reasons for not spending that time or money.
There are still a number of situations in which a transaction involving a quick cash sale to an investor can be a beneficial move, both for the investor and for a seller who requires a quick turnaround on a property. It is also not uncommon today that investors will offer close to market value for a property, less any amount required for cosmetic updates or modernization.
In cases of an unwanted inheritance, absentee ownership, loss of rental income, unexpected and mounting repair bills, or a change in circumstances that could lead to loan default, it can be vital to close a sale as quickly as possible. In those cases, seeking the services of a local investor or a firm that is willing and able to pay cash makes perfect sense. Firms that offer these services on a professional basis, though, are not usually the ones that post their phone numbers on the street corner. If you are looking for a quick sale, explore your options by contacting a professional investment firm, even if your home requires repair or rehabbing.
Listing with a real estate agent in today’s “sellers market” is preferable for many families who have well-maintained homes, time to consider their options and a desire to move at some point in the future. If, however, time is of the essence to negotiate a sale and close a transaction, even a typical “fast-track” timeline of 30 to 45 days may be too long to wait.
Full-service, reputable real estate investors can act as quickly as 9-10 days. While the real estate agent is, in effect, an intermediary between the seller and a buyer or a buyer’s agent, the real estate investor deals with the seller as a principal, and gets the deal done quickly. It may be a perfect solution to your less than perfect situation. You certainly owe it to yourself to explore all your options.