Selling your home to a real estate investor is a convenient way to get your property off the market and be paid fast. Unlike the typical buyer that shops around for houses to find a place of residence, working with one that’s only interested to fix and resell your property speeds up the process.
Despite the obvious advantages of dealing with a quick house buyer, many are still hesitant to entertain such a buyer due to different misconceptions. To help clear the air of mystery about real estate investors, let’s debunk the most popular myths about them:
They’re Con Artists
Real estate investors don’t need to obtain any license to ply their trade, which is why they can do their business without facing any regulatory scrutiny. It can be easy for anyone to pretend to be a flipper to rip sellers off. No wonder why many people consider dealing with one a great cause for concern.
Nevertheless, most real estate investors make an honest living by flipping properties. In fact, many of them are legitimate companies accredited by the Better Business Bureau (BBB). As a responsible seller, you ought to dig deep to uncover your prospective flipper’s real motive behind the purchase and learn about its business history.
They Run Away from Liens
False. Any serious real estate investor wouldn’t ask you to eliminate any lien on your property first before proceeding with the sale. If a flipper sees great profit potential in-house, it would gladly take over your mortgage or even pay you more than you currently owe. Actually, working with one is an elegant solution to avoid a foreclosure.
They Only Pay Cash
Most real estate investors transact through cash, but they also offer a variety of payment options. Any flipper is open to negotiation to create a win-win situation for both parties.
They Require Home Inspections
Flippers buy fixer-uppers in “as is” condition. You won’t need to invite inspectors to assess every inch of your property prior to selling. Part of their business is absorbing the risk of purchasing properties with hidden damage. The offers they give depends on the perceived value of the house. A savvy flipper would get the property thoroughly inspected later on but not before the sale.
When selling to a real estate investor, setting your expectations comes with the territory. Don’t expect to get paid above your property’s market value because a flipper has its own expenses to contend with. If you’re willing to sacrifice a few thousand dollars for a cash offer and a speedy closing, an investor is perhaps the best buyer you’d find.