There are several ways to sell a house, and the most common method is by listing it with a real estate agent. If you choose this route, it may take time to sell your house. If you do not have a lot of time, you could turn to an alternative method, which involves selling the property to a real estate investor. If you've never heard of this option and do not understand what it entails, here are three things to know.
The Definition of a Real Estate Investor
A real estate investor can be a person or a company that buys homes for cash. Investors purchase all types of properties that people are selling, and they pay for these homes with cash. They do not get loans to buy them. After buying a property, the investor typically does one of two things:
- Renovates the property and markets it as a rental property
- Renovates the property and sells it for a profit
Investors either flip homes or keep them as rentals. The purpose of what they do is to make money.
The Way These Deals Work
When you turn to an investor as a way of selling your home, several steps must occur. The first step is asking for an offer. When you ask for an offer, the investor researches your home and comes up with a fair amount of money to offer to you. You can take it or leave it. If you accept the offer, you should start packing. The investor will likely want to close on the deal within just a couple of weeks.
The Pros and Cons of Selling to an Investor
Before you sell to an investor, make sure you know the pros and cons. The top benefits this method offers is a fast sale and a guaranteed sale. Another benefit is that you won't have to do any work in the home. Investors buy homes as-is. One downside is that you might have to move out of your house very quickly, as these deals tend to close within a week or two. The other disadvantage is that you might not receive as high of an offer from an investor as you could if you sold it to a traditional buyer.
After learning these facts about real estate investors, are you interested in learning more? If so, contact one today to inquire about selling your house to them. They can give you more information about price, timing, and other significant aspects of buying your home. Reach out to a real estate investor today for more information.