So, you want to sell a property to an investor? Opting to use this option will not only result to a much faster closing but will also ensure that you do not pay a hefty commission as would be the case if you were to sell the property through a realtor.
A lot of people are aware of this, but many of them do not understand the process of selling a home to an investor willing to buy a distressed house to either flip or rent. As such, many people end up having to sell their homes through conventional means, that is through realtors, wasting a lot of time and money in the process.
How Does One Sell Their Home To An Investor?
The first thing you need to do is to contact a potential real estate investor that you feel is worth doing business with. The great thing is that investor phone numbers can be found on the bandit signs you see around written “We Buy Houses” and such. Similar advertisements can also be found online and in classified ads. In fact, some of the best companies to work with are typically the ones you find on the first SERP of search engines like Google when you search for something terms like “Sell My House Fast.”
Want to check this out? Try it out now and let me know http://webuyhouseshouston.net ranks on Google. It is worth noting that a majority of real estate investment companies are now using social media to make it even easier to find a way to contact them.
When you have initiated communication with your preferred investor, let them know about the house you are looking to sell. That is, the type of building, when it was built, the number of bathrooms and bedrooms it has, if it needs any repairs, how much you are selling it for, and why you are selling.
Once communication with the investor has been established and they have shown interest, the next thing to do is to get a CMA or comparative market analysis of the property. This is important as it will allow you to know if the property has the potential to make a profit as far as your investor is concerned. This holds true for houses that are being sold ‘as is,’ and which may need a lot of repairs and work before they can be sold off at full retail.
Once it has been determined that your property is a viable option, the investor will then schedule a meet up with you to see the property and if everything you told him/her over the phone is true. This is the make-or-break part of the deal since once the investor sees anything about the property that could affect its sellability and which you did not disclose earlier, he/she could opt out of the deal or try to re-negotiate the price.
Personally viewing a property is also one way for the investor to size up the property and see if there is any possibility for improvements and repairs. As such, you are advised to help out the investor as much as you can at this point as this is when they will decide whether to invest in the property or not.
Lastly, you should consider establishing two things before signing any contract or agreement with the real estate company or investor. These two things are:
- Ability to close
One of the simplest ways to quickly verify the credibility of the investor is to find out if they have a good standing with the BBB or Better Business Bureau. Some investments companies are not even member of this bureau, so it’s important to proceed with a lot of caution.
Another critical thing to consider is if the investor you are considering will buy your property through his/her company, or if they’ll wholesale the property to another investor. As cynical, as this sounds, it happens a lot. However, We Buy Houses Houston don’t do that. So, if you want to sell a property to an investor, we’re here. Unlike most of our competition, we buy homes that we have put under contract. In fact, most of our competitors call us to buy homes that THEY have put under contract.