Traditionally, people choose to sell their homes with a real estate agent. However, selling a house this way has some drawbacks. Bear in mind that it typically takes a long time to sell your house with an agent. Plus, you must be prepared to pay a real estate agent’s commissions – often up to 6% of a home’s selling price. That means that selling a house with an agent can be a time-consuming and expensive process.
There are, however, other options for selling your house. If you are looking to sell your house quickly, in as-is condition, and without commissions, then you should consider contacting a real estate investor to buy your home. These are just a few of the benefits of selling your house to an investor . In this article, we’ll explain several more ways you can benefit from selling your house to an investor.
Benefits of Selling your House to an Investor
Real Estate Investors Buy Houses in Any Condition
You are likely to find it more difficult to sell a house with an agent if the property is in poor condition, or if hidden problems are found during a property inspection. These issues turn many “traditional” buyers away. One of the benefits of selling your house to an investor is that they purchase your home “as-is”, meaning you don’t have to make any repairs or lower your asking price due to hidden issues that come up during a home inspection. Investors agree to purchase homes that need significant repairs, such as foundation issues, flood damage, and roof damage. Investors know how to fix these issues and will provide you with a price upfront that takes them into account, so you don’t have to worry about a buyer backing out before closing.
Investors Can Take Over a Homeowner’s Mortgage Payments
Let’s say that you experience some form of financial hardship and can’t keep up with monthly mortgage payments. In this case, you may want to sell your property to avoid foreclosure. Finding a buyer who agrees to take over your mortgage payments and understands how it can be done is not easy. However, some investors, like McIntosh Management, LP, can help homeowners avoid foreclosure by taking over their existing mortgage payments.
Investors Can Buy Properties for Cash
Traditional buyers may find it difficult to get financing in order to buy a house. If a buyer cannot obtain a loan for your property, he/she will not be able to purchase it and the property will go back on the market. This makes other buyers suspicious and can lead to a significant delay in the sales process and a potential drop in the final selling price of the home. Investors typically have money readily available and can buy a house without involving a bank for financing. This means you don’t have to worry about a sale falling through, as you may face with a traditional buyer.
Investors Purchase Properties Quickly
The fourth benefit – the fact that investors can purchase properties quickly, is related to the fact that investors typically buy houses with cash. Whereas it may take up to 90 days to sell a house with the help of an agent, investors can purchase your property in as short as 2 weeks. (Note: Many investors say they can buy your house in a couple days, but beware! In the City of Pittsburgh, it’s hard to do it in less than two weeks, given that each property must pass a dye test before being sold. This takes approximately 10 days. If you talk to an investor who promises to close sooner than this, ask them about the dye test)!
You’ll Save On Commissions by Selling a House to an Investor
This benefit is simple: you pay no commissions when selling your house to an investor. Using the traditional sales approach of listing with a Pittsburgh real estate agent can lead to commissions of up to 6% of a home’s selling price. When selling your house to an investor, you pay no real estate agent fees.
Investors Pay Closing Costs
Most investors will also pay all closing costs associated with selling your home. If you sell your house the traditional way, many buyers ask the seller to pay for a portion or all of the closing costs. This can sometimes be up to 2% of a home’s sales price.
Paperwork is Handled by the Investor
While it’s impossible not to have some paperwork associated with a real estate transaction, selling your house to an investor typically minimizes the number of forms and paperwork that require your signature. Plus, a good investor will handle preparation of all paperwork so that you just need to arrive at the closing table and receive cash for your property!
Are you interested in selling your Pittsburgh house without a real estate agent? If so, give us a call at 412-785-7928. McIntosh Management, LP is a full-service real estate investor in Pittsburgh, and would love to help you through the process of selling your house!