When it is time to move, there are more than enough questions waiting to be answered. So many plans to be scheduled, too many moving parts, and an influx of change. The biggest decision to make, is whether you will choose a Realtor or Property Buying Company to handle your home’s transaction. Often misunderstood, investors are people or companies that want to purchase your home, to make a profit. Investor’s developed a bad rap over time, a corrupt reputation of swindling home buyers and having ill intentions.
Rumors aside, selling your home or property to a property buying firm has many benefits. Selling your home to an investment company will be the most seamless experience you have in business.
When home buyers are on the hunt, homeowners sell their properties to home buying companies because of the speedy closings. In record timing, you can expect to sell your home in seven days, at most. These companies have the influence to bypass formalities in the process, by purchasing the home in present condition, as is. If you are in a bind, pressure to sell fast, you should sell the property to a home buying company.
Sell as Is
Since these companies are acquiring your property as is, investors are not as interested in the feng-shui, like home buyers. Investors aren’t living in your space, so the company doesn’t mind if you haven’t renovated the kitchen or bathrooms. In fact, home buying companies prefer homes that are outdated, seizing the opportunity to renovate and flip for a return. When working with a property buying firm, you can keep your money in your pocket. You save thousands on the restorations needed to be competitive in today’s real estate market.
Sell Home for Cash
Homeowners will rarely come across a mystic home buyer who offers cash, unless they sell to a property buying firm. Most investors pay for properties in cash, relieving any worry that comes with a buyer applying for a mortgage loan. When a home buyer has been preapproved for a loan, the lender can decide if the buyer’s credit is unfit. Unfortunately, this can lead to the lender refusing to issue the funds needed to buy your home.
Before you sign an agreement of purchase, ask the investor for proof of funds. This verification can come in the form of bank or money market account statements that show liquid or cash assets. These assets must exceed the listed value of your home. The average time it takes sellers to close in an all-cash deal is two weeks. If you sell to a buyer who needs a mortgage, it will take you 60 days minimum. Once approved and verified, selling your home for cash, is a sweet deal.
Flexible Purchase Deals
Working with home buying companies can potentially lead to more flexible purchase arrangements. Suppose your home is underwater, or you would like to get it off the market altogether. If you are unwilling or incapable of moving, selling your home to an investor could be the move. Dependent on the investor, there are some investors that will agree to take over your mortgage. There are even investors who will rent the house back to you in what is called a sale-leaseback transaction.
Save Money All Around
Besides saving money on home renovations, negotiating with a home buying firm rather than a Realtor, will save you money. You will be spared from the expensive commissions, fees, and marketing efforts, when working with property buying company. All that saved money can be used as the down payment for the new home.