There is a lot of negativity surround the “We Pay Cash For Houses” type companies. Like any business there are honest and dishonest people in the industry. Contrary to popular belief not all real estate investment companies are bad and looking to take advantage of people. In certain situations there are a lot of advantages to selling your home to a cash buying investor. Below are 3 reasons you may want to consider this route if you have a less than perfect home you are looking to sell. Keep in mind you will always want to check with the Better Business Bureau and perform your due diligence before reaching out to any of these private companies.
Sell In AS-IS Condition. One of the biggest headaches sellers are facing today is the lengthy inspection notices buyers are requesting after a home inspection is performed. Often times these repairs buyers are requesting can cost in the ten’s of thousands of dollars to fix. More times than not a cash buying real estate investor will purchase the property is an-is condition meaning the seller will not have to do any repairs or inspections to the property.
Save On Realtor Commissions. The biggest expense for a seller in a real estate transaction is the realtor commission that is paid when the property is sold. Often times these commissions can range from 5%-7% of the sales price. So if you are selling a $200,000 house you will have to pay anywhere from $10,000 – $14,000 in commissions. A big advantage to selling your house to an investor is not having to pay these hefty commissions. The buyer will state in the purchase agreement that there will be no realtor commissions to be paid.
Quick Closing. The biggest advantage to selling your home to a cash buyer is that they have the ability to close fast. The biggest hold up with your traditional buyer is the time it takes the lender to finance the transaction. With a cash buyer you don’t have that hold up. Since they are paying with cash they can close as soon as the title company gets the title work back.