Updated: Jan 26
Home Buyers (A.k.a iBuyers) Can Be Your Best Friend
It seems today that cash home buyers/investors have developed a bad reputation, and honestly, for some investors out there, it has been rightly earned. I've gone to numerous real estate investor meetings where others have proudly touted:
"I once bought a house for a dollar!"
Is that a great deal for the buyer? Sure it is, but is that a great deal for the seller? I hear real estate investors talk about how they are out there to help people, and for most investors, yes, they do want to help people.
However, when you hear other investors talking about how proud they are to have bought someone's house for one dollar, it makes you wonder:
Are they out there to help the seller? - Probably not
Did they only want to get a great deal? - Probably
Couldn't they have at least offered them a few grand for the house? - Almost definitely.
Not all real estate investors are out to steal your house. Most real estate investors are ethical and want to help sellers by making fair offers. Unfortunately, this is a case where the few have developed a bad reputation for the many.
Let's get into the reasons why it would make perfect sense for you to sell your house to a professional home-buying company/investor.
We'll assume you're selling a home that requires light, moderate, or substantial repairs, or is generally outdated.
Real Estate Investors Are Far Less Picky Than Traditional Buyers
We'll consider the steps of a typical home sale from beginning to end, and how the process varies between selling to an investor and selling to a traditional buyer.
Step 1: An Offer is submitted
Traditional buyers may submit the following offers:
A cash offer (Very unlikely!) - As they say: "Cash is king." - When a buyer provides a cash offer, they are ready and able to move quickly. A cash buyer doesn't have to deal with:
All of the above are perfectly normal parts of a real estate transaction. However, if you need to sell your house quickly, they can easily slow down your progress to the closing table.