Is Selling To An Investor The Right Move For You?
Let’s cover a few questions that can help you decide:
What kind of shape is your property in?
Would a buy-and-hold, flipper, or iBuyer be interested in your property? Remember that:
Buy-and-hold investors are looking for single-family homes or condos in up-and-coming neighborhoods to rent out.
Flippers want a deal on an as-is property, often single-family homes, that they can renovate and sell quickly for a profit.
iBuyers want a home in good condition typically valued within $200,000 to $500,000 or most likely the median price point for the area.
Depending on your market, multiple types of investors might be interested. Investors aren’t going to live on the property, so they don’t need that emotional connection to the space that traditional buyers are often searching for. They’ll look past cosmetic and upkeep issues to find the investment value in your home.
How urgently do you need to sell your house?
Home investors are more willing to work with your timeline than buyers on the open market. If you need to quickly settle an estate, split marital assets in a divorce, or relocate out of state quickly for a new job, you can’t always afford to wait around 45 days to close your transaction.
If you’re diligent, you can probably get your home ready for listing in three weeks, but depending on the circumstances, that process could be overwhelming or emotionally taxing. If time is of the essence, selling your home to an investor proves for a quick sale with little to no prep work.
How much money do you have on hand for preparations and repairs?
You can expect to make money selling your home, but you also have to consider the cost of preparing the house for market, as well as the repairs a potential buyer might ask for after the home inspection process.
A bad roof, faulty plumbing, and HVAC issues can run up to $10,00 each in repairs. If you’ve got the capital on hand for these updates, then strategize with a superstar agent to find the best upgrades that maximize your home’s value, and make those repairs to allay any buyer concerns.
If your home needs costly repairs you can’t afford, however, then you might have a hard time finding a traditional buyer on the open market. Keep in mind, too, that as you compare an estimation of what you could fetch on the open market against a cash offer, you should calculate your estimated net proceeds rather than compare offers at face value.
4. How much time and energy do you have to get the house ready for the market?
Getting your home ready for market can take anywhere from 3 weeks to 2 months, depending on its current condition, and the amount of time you can commit to the process daily.
When getting your home ready for a traditional sale, you’ll need to:
Pack up and purge items from all rooms in the house (~8 days)
Landscape (~3 days)
Patch, paint, and reverse small dings and damage (~3 days)
Deep clean your entire home (~3 days)
Store items you’re keeping, and donate or store everything else (~2 days)
The above timeline is a suggested minimum of all the work and time you’ll need. It doesn’t account for large projects or major repairs that you might need.
If convenience is your top priority in selling your home, then you might choose to forgo the above projects and sell to an investor.
5. What are your next moves?
If you’ve already got your eyes on a new property and need the proceeds from the sale of your house to take the next step, then a cash sale liquifies your assets faster. Investors can close on the date of your choosing, even if it’s within a few days, and in some cases, they “can provide specialized solutions for each specific seller’s situation. For example, they can release the money to the seller early to help pay for moving expenses if cash is tight
About CT Cash Homes
We here at CT Cash Homes are different than any other buyers. After you contact us and give us the property information, we will make you a fair, all-cash offer within 48-hours, and that is not even the best part. We never tell you when to close. YOU get to choose. If you are looking to close quickly, we can wrap up the deal and get you the cash in as little as 7 days. To get started, you just need to give us a bit of information about your house and the situation that you are in. To contact us, simply fill out the form on this page, or give us a call at (860) 249-0950 for a faster response. It is our goal to make your life easier by getting you out from under the property that is causing you problems and stressing you out. We can do this by paying a fair and honest price for your house quickly. So the next time you’re searching google for real estate investor ct, real estate investor near me or sell my house fast, click on CT Cash Homes.