You’ve thought about it. You’ve considered it. You’ve looked into it. So now you’re wondering: Should I sell my house to one of those real estate investment companies? Before you decide, let’s examine the pros and cons of selling your home to a real estate investment firm and what you can expect if you take the plunge.
Sell The House or Remain in The House?
If you’re not sure, here are some things to consider:
1. Do you want to stay in the house?
If so, selling is not the best option, especially if you still have mortgage debt or other financial obligations associated with your home. You can even refinance with a new homeowner mortgage that allows you to keep living there while paying off your old loan. That way, all the money from the sale goes straight into your pocket instead of being used as a down payment on another property. This means it will help less with paying off debt or building up savings.
Are There Any Repairs Needed?
If so, selling now is not the best idea because buyers may not be willing to accept an older home with some wear and tear. On the other hand, if minor repairs can be done before the sale (like painting), it is worth it to take the plunge and sell now.
Do You Want to Work With an Agent or Handle the Transaction Yourself?
Some benefits of working with an agent are that they know how to price homes competitively, have relationships with other agents and brokers across different markets, and can help guide you through selling a home quickly and efficiently. On top of all that, they have access to listing services that can help improve your chances of reaching more potential buyers.
Factors to Consider When Selling Your Home Alone
Is the Investment Company reputable?
Go online and find more information about the listing company, including their Limited Liability Company (LLC). Check with the Better Business Bureau or other consumer protection agencies. Next, ask for references. Because these companies don’t have commissions, their offers are automatically better than what you’d get from a traditional real estate agent. But it’s not always true. Some investors will offer you more money if they can finance through their entities or loans, but they’ll charge higher interest rates and fees in exchange.
Also, understand that cash offers are lower than financed offers because there’s no commission and no closing costs. If one of these companies offers you a verbal offer on your house that meets all your needs, ensure they make it a formal offer in writing. You can use the contract from TREC Promulgated 1–4 Family Residential Contract or let an attorney draft it.
“Sell your house to us,” they say. “We’ll give you cash for your home.” It sounds too good to be true, right? But it’s not! We have helped many people in the community sell their homes to one of those real estate investment companies. Please stick with us to help you find buyers for your properties.
If you’re considering selling your house, we would love to help you do it! We are a local company that knows what it takes to ensure that your sale goes through smoothly and quickly. If you have any questions, please contact us today!