Do You Want to Find Investors Who Buy Homes?
When planning to sell your home, finding investors who buy homes can help speed up the process.
The key to a selling your home is finding someone who can buy it. You can try to find someone in your area or you can look for investors who buy homes.
The biggest drawback is the amount of time it takes to get the house sold. If you are selling your home, you want to get out of it and out from under the mortgage. You want to move on with your life. As long as you keep living in the house, you’re tied down.
Forbes has a good piece on the pros and cons of selling to a real estate investor. I disagree with the last statement on the cons, the house selling for below market value. This might happen, it might not. Just remember that when you use a real estate agent, you are getting less than market value for the house because you’re paying out a commission.
The San Francisco Gate suggests looking for local and national real estate investor clubs. Searching online can also turn up leads.
REAL ESTATE AGENTS
This is the most common way to sell a house. You sign a contract with a real estate agent and they go about advertising your house. One drawback is they are also selling a lot of other houses at the same time. This means their resources are spread over a number of places.
They are also working with several potential buyers at the same time. This may sound like a good thing, but a real estate agent is going to show several houses to the same people before they buy one.
The real estate agent draws a commission off the sale of the house. That’s money out of your pocket. That’s money you could have used to put down a new home, buy a new vehicle, take a vacation or something else.
Real estate agents sometimes deal with investors who buy homes, sometimes they don’t. You can ask. If the answer is no, find another agent. Some investors only worth through real estate agents.
Note: Realtor is a trademarked name of the National Association of Realtors (NAR). The NAR charges dues to be a member. All Realtors are real estate agents, but not all real estate agents are Realtors.
FOR SALE BY OWNER
The drawback here is you have to deal with someone you probably don’t know. Unless the buyer has a verifiable history, you don’t know what you are getting into. For example, I am a person who invests in homes across the nation and I have a solid record of completing transactions. You can research my investment work easily online.
The benefit to you in a for sale by owner is you keep all the money. There’s no commissions to be paid out. Investors who buy homes usually have cash in hand or have arranged financing so you get a cash payment when the sale is closed.
Thanks to Craigslist, for sale by owner has jumped. Investors who buy homes scan the ads in Craiglist to look for likely properties. Craigslist is also full of scammers, so if you go this route, be sure to check out the bona fides of any potential buyer.
FINDING INVESTORS WHO BUY HOMES
An excellent place to start looking for an investor who buys homes is with the local banks. They will know who the area’s landlords are and which ones are looking to add to their list of homes. These investors typically buy a home to rent it out. Whether they finance these purchases or not, the sales will be recorded at the courthouse and the bank will get that information.
Ted Thomas is a Florida-based author and publisher who specializes in distressed properties. Visitors to his website will find 3 must see FREE instructional videos. No credit card required. The video lessons will give you everything you ever wanted to learn about government tax defaulted real estate which is sold at public auctions for 10 cents to 20 cents on the dollar. You’ll also learn the secrets of tax lien certificates which pay guaranteed returns of 16%, 18%, up to 36%. Go to tedthomas.com for more information.