There are various ways you could sell your home, whether you do it yourself, via a real estate agent or to an investor. While working with a realtor who understands the market can be beneficial, you cannot guarantee a positive working experience. You also incur additional expenses, which is why you should opt to sell your home to an investor. Read on for five benefits of selling your house to an investment company.
1. Investors buy homes in cash
If you are in urgent need of cash, selling your house to an investor is the way to go. Most investors pay home purchases in cash or through cheque payment once all paperwork is signed. This means you do not have to worry about sales falling through because a buyer changed their mind last minute or wait for bank or lender financing to come through in a traditional sale.
2. No need for repairs
To sell a house via a real estate agent, you have to make expensive repairs to make it more appealing to prospective buyers. While repairing or remodeling your home may significantly increase the selling price, you may lack enough funds to finance the process. You may also not recover the repair and replacement costs after the sale, which is why you should consider selling to an investor. Investors buy the home as-is. An investor will table an offer that reflects the amount needed for repairs. This means that you do not have to spend a dime for fixtures, regardless of the damage.
3. Avoid foreclosure
If you have been receiving repossession threats or foreclosure notices from your lender or bank, selling your home to an investment company can be an effective solution. A real estate investment company will buy your home in cash and as-is, giving you enough funds to move out and rent a house elsewhere. Some investment companies will even take over the mortgage payment and allow you to rent the house from them if you want to keep living in a familiar environment.
4. Speed
Selling your home can be a time-consuming process. You have to stage your home, host showings, negotiate with buyers, and wait for the lenders’ financing. This may not be ideal if you are looking to sell your home quickly to settle a financial emergency or want to move, so you should consider selling to a real estate investment company. You may receive a cash offer from an investor within 24 hours once you agree on the terms of sale.
5. No commission fees
You forego the cost of hiring a realtor when you sell your home to a real estate investor. Real estate agents charge a specific amount of commission, often 6% of the total home sale. Since investors purchase the home themselves, you do not have to incur additional costs to help you find a buyer.
Endnote
Are you in need of cash or want to move out quickly? Selling your house to an investor can be beneficial. You do not have to pay commissions, handle repairs, or even experience foreclosure with a real estate investment company.
