As you venture around your city or town, you may notice many signs by real estate investors stating, “We Buy Any Home.” These signs may spark interest along with a list of questions. In addition, you may be wondering about the benefits of choosing this route to sell your property; along with the process, it’s essential to understand a cash home sale and compare it to other ways of selling your house effectively.
Over the last decade, there has been a growing popularity of real estate investors directly marketing their services to the public; these investors have used tactics such as postcards, phone calls, and yard signs. Using signs that use terms such as We buy any house in any condition is preferred because sellers don’t feel as targeted as receiving letters in the mail or irritating phone calls/voicemails. In addition, these investors eliminate the middle individual, typically a real estate agent, and it’s an advantage for both sides because of the time and money saved since there are no fees or agent commissions.
Homeowners prefer avoiding fees when selling their houses; everyone wants the most profit. Realtor commissions can account for six percent of the total sales price, this does not include the closing costs, transfer tax, and title fees, nor does it include the actual sales tax, which can equal three percent. Another benefit will be the time it takes to close on the sale of your home when selling directly to developers, which can be as soon as fourteen days after signing a contract compared to the multiple months when listing the property with a licensed realtor. If you would like a fast real estate transaction, you can contact a company like Buying Property 215 to see how quickly they can close.
Professionals that advertise the phrase we buy homes in any condition, typically have a construction crew they work closely with that completes any renovations of their projects. Having the ability to complete the work themselves, these individuals have the opportunity to purchase homes regardless of the overall condition. Choosing to sell your house to these real estate companies allows sellers to avoid conducting any repairs, saving the seller money and time. Plus, most homeowners are not aware of reliable contractors, so attempting renovations may cause unnecessary obstacles.
Going with a cash offer that a real estate investor submits is a proper way to evade irritating walkthroughs and financial contingencies; these individuals come to closing with a cashier’s check, which is more guaranteed to close than an individual depending on funding. Examples of these contingencies also include the appraisal contingency, which refers to buying having the option of backing out if the home appraisal comes back lower than the sales price. The other example is the home failing its inspection, which may cause the potential buyer to lose funding.
Selling a house quickly to a cash house buyer is effortless and efficient. Once you can achieve an agreed-upon sales price, the home buyer will send over a basic sale agreement which will be forwarded to a local title company to begin the title search. Clearing the title can be finalized within ten days. Next, the title company representative will contact an underwriter from the township/city to obtain any state-required documents and mortgage payoffs. Once the title report is received, a closing date can be set. All papers will be signed at closing, and the funds will be released by wire transfer or cashier’s check. After closing, the investor will conduct any necessary repairs and either hold the home as a rental property or flip the house to a qualified buyer.
If it’s decided that selling your home as-is will best suit your needs, please contact a reputable and professional buyer like Buying Property 215; you don’t need to complete any updates/repairs, and no walkthroughs or inspections. Receive the highest cash offer while the ability to sell within weeks!