What type of home can I sell to an investor?
Selling to an investor is an excellent alternative. Especially for sellers looking to avoid the complicated process of selling their properties via the traditional method. For one, it allows you to bypass things like repairs and buyer financing issues. Also, you get to close the sale and get your money in cash – within days. To know more about the benefits of selling your home to an investor check out “Is selling my house to an investor a good idea?“
While selling an investor may seem like a great idea to you, one question you should ask yourself is, “Will investors be interested in buying my house?” Although home investors purchase all types of houses, most investors look to buy specific types of homes.
In this article, we explore the different types of homes real estate investors are interested in buying. If your home falls in any of the following categories, your best bet is selling it to an investor.
1. Houses that may take too long on the market
When it comes down to money vs. convenience, many home sellers will go with convenience. Convenience means not having to worry about repairs of mechanical faults or features toilet, bathroom, etc. Or go through the struggle of decorating, staging, and repainting your home. It also means not having to get frustrated by buyers or be worried about the banks financing your buyers.
If convenience is your number 1 priority when selling your home, selling to an investor can be such a relief. According to a top real estate investor in Utah, 19 out of 20 people sell to an investor because it’s easier and more convenient. Selling to an investor will help put you in a better mental state to move on. For example, are you looking to start a new job in another city? You can now focus on blending in with your new environment and coworkers. Are you facing property liens? You can transfer the lien to the investor. Whatever you want to do, you will be more focused, less stressed, and more prepared to handle the task ahead.
As most real estate investors do cash for houses, you will have no financing delays. You can get your money fast and settle any financial obligations you need to fulfill while moving on.
2. Inherited Property
Many people are fortunate to find themselves in a position whereby they have been bequeathed a house by a generous relative or friend who has passed away. If you are in this situation, one question you would be asking yourself is, “What am I going to do with this house?”
This question is more difficult to answer if the property is in another city, or if you have to share ownership with someone. Worse, as many inherited properties are not in rent-ready conditions (that is, there are a lot of repairs and decoration work to be done), renting it out may be of the question.
In this circumstance, selling to an investor is an excellent option. Investors are just the fast house buyers you can sell the property to as-is without making repairs or cleaning up. Also, selling to an investor will help you avoid leaving the house vacant, which may attract pests or vandals.
Foreclosure is an experience no one wants to go through. The fear of what to do next will continuously keep you up at night. It is not only heartbreaking but also traumatic, especially if you already have a family.
You can avoid foreclosure by selling to an investor. Selling to an investor who can close before the foreclosure becomes final will get you out of the red. The key is that the investor must close your home’s sale faster than the bank can foreclose on it. Some people may try to work with their bank to delay foreclosure. But in some cases, the bank has the financial incentive to foreclose and is not motivated to help you much.
If the investor can beat the bank’s foreclosure, they can get you a better financial outcome. (If you’re unaware of how damaging to your credit a foreclosure is, there are many articles online about the subject.) Some investors might even pay off your mortgage and lease the house to you if you still desire to stay and can make the payments.
4. Divorce assets
We believe that even some of the most challenging relationships can be mended and transformed into unbreakable marriages. However, in some situations, such as with serious abuse involved, restoring the relationship may not be possible or safe. In some cases, court orders or restraining orders can make the process even more difficult.
With that said, divorce settlements require both parties to share the assets acquired during the time of the marriage. If a house is part of those assets, both parties may need to get things over with quickly and prevent further bad blood. For many couples, this process also has to be as quiet and painless as possible.
A lengthy process of selling a house can make a divorce even more complicated and painful. If you choose to list your home on the market during this period, it might take too long to get a buyer. This delay can lead to a deeper hatred. Also, there are many ways the selling process can generate greater contention and strife in a relationship. A slow sale process can lead to more hurt feelings, and even strain on the family. Plus, do you really want the entire neighborhood to know you are selling your home because you’re getting divorced? Regardless, it doesn’t need to be this way.
Although some relationships can be mended before they reach this point, and some relationships can even be mended after divorce, if mending the relationship has become impossible and the house must be sold, you can sell your home to an investor to simplify the process.
Selling to an investor during or after the divorce helps you get the process done in no time. If you are escaping from an abusive situation and need to sell your home as quickly as possible, this may be an excellent option for you. Not only will you be able to move on quickly, but you will be able to get it done discreetly, get cash for your home in less than ten business days, and leave without further escalation with your ex (or soon to be ex).
5. Homes in need of repairs
Buyers prefer homes with minimal or no improvements required. If your home is in a condition that needs a lot of renovation, many typical buyers won’t be interested. However, choosing to make these extensive repairs and improvements may take a toll on your financial situation, and you don’t want that. Even worse, for most types of renovations, it may be impossible to recoup the entire cost of your investment from the sale of your home. For example, you might only increase your home’s selling price by $10,000 despite spending $20,000 on that kitchen remodel.
Luckily for you, investors may find houses like this appealing. Investors are very experienced in determining what improvements need to be made to a home to convert it to a top-dollar place. Selling to an investor will allow you to sell your home as-is. This will relieve you of the time and cost of repairs. It will also help you avoid issues with traditional buyers who could, among other things, accuse you of fraudulently omitting repair information you may not be aware of from the seller disclosures.
Do you urgently need to move from your current state of residence for work or other reasons? Perhaps you live in a neighborhood that has become less safe or even more crowded since you first moved in. Perhaps your employer requires you to transfer out of state. Or, maybe that great job you just accepted requires relocation to another city.
The expenses for relocation are enormous. According to Home Advisor, the average costs of moving range from $685 – $1,868, depending on the distance and whether professional movers are involved.
When you eventually add up all the costs that relocation would incur, you might be thrown off balance. However, selling to an investor can decrease some of these costs. For example, what about all of those old furniture that you are planning to donate? You can leave it behind for the investor to handle! If you sell to an investor, you’re paid cash upfront that you can use to cater to these expenses. You can leave anything you want behind, and some investors will even help pay your moving expenses!
Are you looking to sell your home to an investor today?
If you are interested in selling your house to an investor today or need more information, please send us a message below with your contact information. Let us know you are interested in allowing Bost Redevelopment to buy your home. We will assess your home within the shortest time frame and offer you a fair price. We will close the deal within 5 – 10 business days.
At Bost Redevelopment, we are experts at handling every home selling problem you may be facing. In addition to the seamless experience we provide, and our highly knowledgeable team, what truly makes working with us worthwhile is that we hold ourselves to the highest standards of ethics, accountability, and transparency.
We are a licensed member of iProRealtyNetworks in the State of Utah. We are also members of the National Association of Realtors (NAR), and we abide by the NAR Standards of Practice. Contact us today if you’d like to talk with us to determine if having Bost Redevelopment buy your house as an investor is right for you.