The Pros & Cons of Selling Your House to a Local Professional Home Buyer
When it comes to selling a house, there are plenty of options that sellers can choose from. One of the best and popular options is selling the house to a local professional home buyer, aka, a real estate investor. All you have to do is connect with the investor and submit the information about your house, including its condition. The investor will assess the house, come up with a value for it, determining the repairs needed. If you are comfortable with the offer, the investor will buy the house with cash. So the deal is closed faster, and you walk away with cash in hand. So, if you are looking to sell your house for cash, this method is perfect for you.
However, there are usually pros and cons to every method of selling a house, and this method is not an exception. It has its pros and cons, too. Here are some of the pros and cons of selling your house to a real estate investor.
- Flexible payment options
Perhaps this is the most significant benefit of selling a house to an investor. These investors offer a wide range of payment methods, including cash, certified funds, scheduled cash payments, or they may even take over the existing mortgage fully. With so many options available, you will definitely find a payment option that suits your needs.
- Selling “as-is”
Another pro of selling your house to a real estate investor is that you will sell your house as it is. So, you won’t have to spend plenty of money doing the necessary repairs, which can be costly and time-consuming. The investor will fix all the repairs once they buy the house. So, if you cannot afford to do the repairs, selling your house to the investor can be the best option.
- Fast closing
As mentioned above, this is the fastest option if you want to sell your property for cash. This method does not rely on the bank’s approval, appraised values, or time-consuming home inspections. Of course, skipping all of these steps can help speed up the sale process. The whole process can take less than a month.
- No hassle of viewings
When you are working with a real estate investor, you will stay in your home until the last minute before you sell the house. There is also no hassle of getting the house clean and ready for viewing since the investor will just buy it once everything has been finalized.
- Selling below the market value
This is the main downside of selling your house to a real estate investor. These investors mainly cover the closing costs, repairs, back taxes, etc., which must be factored into their offered price. They also know the power behind their cash offer and taking the risk to buy the house “as-is.” Moreover, the investors’ goal is always to buy on the lower rate.
- There are plenty of scammers posing as investors
Nowadays, anybody can pose as an investor, thanks to the internet. The internet has given many con-artists the opportunity to pose as investors and commit fraud when it comes to buying houses. That’s why you need to research more about an investor before you actually start working with him or her.