WARNING! 5 Reasons To NOT Sell Your House To A Real Estate Investor
Are you thinking about selling a house?
Maybe you’ve inherited a house, have a rental property that is financially not a good fit any longer, have a house that needs repairs and updating that you don’t want to do, or have a property that you just don’t want or need any longer.
Here are a few items you will want to check before making that decision.
Real Estate Investors:
Maybe you’ve seen a sign by the side of the road, a bus bench, or received a post card or letter from someone or company claiming they want to buy your house. Is it real? Is it too good to be true? Maybe, maybe not.
Ensure that the price a company gives you is the real price, and not a number they start subtracting fees and expenses from.
Ensure the company actually has funds to purchase your house and doesn’t have to secure funding in order to purchase the house. You don’t want to be told you can sell your house when you want to sell, only to find out that the purchase of your house is subject to the buying company having to secure financing, like a typical other buyer would. You should ask the question “If I wanted to sell, do you have funds that you can wire today?”
Also be cautious about companies that want to make offers for your house without seeing the house. There are companies that try to purchase houses and make offers without seeing the house. Their “offer” is likely to change, most likely not to your advantage, when they actually do see the house and any deficiencies that they were not aware of without actually inspecting the house.
Has the company been in business for years, or did they just start “buying houses” recently? Do they really know what they are doing? Can they actually do what they say they can do? Are they a member of the Better Business Bureau with a great rating? Do they have excellent references?
Some companies even offer to assist with moving and related expenses.
Is the company willing to be flexible with closing and possession dates to make the sale and your move as easy and stress free as possible?
Beware of “wholesalers”! These are companies that advertise and say they can buy houses for cash, but in reality have no intent or ability to. Once they get a contract on a house, they then look for a “real” buyer to sell the contract to. If they’re unable to find a real buyer, they will typically attempt to renegotiate the price with the seller or just disappear. Either way, this can leave you the seller, in a bad predicament.
If you decide to sell your house to a house buying company to provide you the benefits that a fast, stress free sale should give you, make sure you are working with a company that can perform as you should expect them to. The Sierra Group, LLC can provide those benefits to you!
Real Estate Agents:
When an agent is competing for your listing, ensure that they are giving you realistic numbers of what your house can sell for. Some agents tend to provide inflated values for your house in an attempt to secure a listing.
Make sure agents are showing you good comparables from your neighborhood. As importantly, make sure the agents are showing you pictures so that you can see the quality of interior and exterior of the comps compared to your house. Know that buyers are not going to place as much value for your house if kitchens and bathrooms have not been updated recently, especially if the comps in your area have been.
Also, know that the price the agent says they can List your house for is a much different number than what you will Net from the sale of the house, if the house sells. A seller will typically Net only 80% to 90% of the sale price of the house and the final sales price will typically be lower than the original asking price.
The Best Solution is a Company That Can Offer You Multiple Solutions
If you have a house that you want to sell, you’ll want to consider contacting and working with a company that can offer you MULTIPLE SOLUTIONS instead of just buying your house or listing it.
If a person or company can only offer you one solution, they may not provide the best service for YOUR needs.
Our company, The Sierra Group, LLC, can provide multiple solutions, to best suit your unique situation. To find out how we can assist you, just fill out the form below.
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7 Days Cash by The Sierra Group, LLC is based in Lincoln, Nebraska. We purchase homes locally, and in many other parts of the country such as Nebraska, Iowa, Missouri, Kansas & Florida! For the past 25+ years, we have been helping people by purchasing their homes directly! In addition, we are licensed realtors in Nebraska and Missouri. We understand the process and the local markets, allowing you to receive the best service and the best all-cash price for your home! We are Veteran Owned, and hold an A+ rating with The BBB!