There are plenty of reasons that a person wants to sell their house. Some bought their home as their first starter house and can now afford something bigger. Many homeowners sell their home because they are relocating for work. There are also people who sell for financial reasons. Some people can no longer afford their mortgage and they want to sell before they start missing mortgage payments and others are facing foreclosure and they need to sell their home before the foreclosure goes through and affects their credit negatively. If a person goes through a foreclosure, it can keep them from buying a new home for years. Regardless of the reason that a person wants to sell their home, they often want to sell if as quickly as possible. If you are planning to sell your home, you have two options. You can either sell to a retail buyer or you can you can sell to an investor such as We Buy Houses Clarence Center. Of the two options, selling to an investor has many more benefits.
Finding a Buyer Quickly
One of biggest problems that homeowners deal with when they are selling their home is waiting for it to sell. It is not uncommon for a home to be on the market for several months. Some homeowners wait a year or longer for their home to sell. If you are hoping to sell quickly, you should consider selling to an investor. Investors are willing to buy your home quickly. This is great if you are selling to avoid foreclosure or if you are relocating for work and you only have so much time to start your new job. If you don’t want your home to be on the market forever, selling to an investor is your best option.
No Need to Wait For a Bank Approval
One very common problem that arises when a person is selling their home is waiting for the new buyer to have their financing approved by the bank. In some cases, this doesn’t take long. In others, the seller can be waiting a long time, only to have the financing fall through. If you are selling your home and you want to avoid this type of delay, you should consider selling to an investor. We Buy Homes Clarence Center will buy your home in cash. Most retail buyers don’t have the money to pay for a house in cash. That is not the case with an investor. Since they have the cash to pay for your home right away, it will eliminate any of the time-consuming financing delays.
They Have the Cash Now
If you are planning to sell to an investor, you won’t need to wait for the investor to raise the capital for your home. These types of investors won’t start looking for a new home to buy until they have the money to pay for it.
Investors Buy As Is
If you have been living in your house for years, chances are that it needs some repairs or upgrades. If you are going to be selling to a retail buyer, you would need to make these upgrades and repairs before you put the home on the market. If you don’t, you aren’t going to get many offers. Most retail buyers are looking for houses that are in move-in condition or that require very little work. If you are selling your home for financial reasons, you might not have the extra cash to make the upgrades and repairs. If you decide to sell to an investor, they will buy it as is. You won’t need to make any repairs or upgrades to sell your home, no matter how big or small the problems are. This is great for sellers who don’t have the money to make the repairs or who would rather put their money into their new home.
No Appraisal Necessary
If you are planning to sell your home to a retail buyer, you would need to pay to have it appraised. Most lenders won’t give bank approval to buyers for a home that hasn’t been appraised. Even if a retail buyer has the money to buy the home in cash, they will still want it appraised. Investors are willing to forego the entire appraisal process.
No Need to Have an Inspection
When a retail buyer purchases a home, they will want to have an inspection first. If any issues come up during the inspection, one of three things can happen. First, the buyer will back out, not wanting to deal with any of the issues. Second, the potential buyer could expect you to make the necessary repairs before they are willing to close on the house. If you don’t have the extra money to pay for these repairs, your home would remain on the market. The third scenario would be where the buyer expects you to drop the asking price so that they can make the repairs themselves. If financial issues won’t allow you to lower the asking price, you would need to find another buyer. If you were to sell to an investor, none of these scenarios would be an issue because they will buy your home without an inspection. If there are any problems with the house, the investor will deal with them after the sale has gone through.
Investors Pay the Closing Costs
If you sell your home to a retail buyer, paying the closing costs would be your responsibility. Since the closing costs on a home can be anywhere from 2 percent to 5 percent of the cost of the house, closing costs are expensive, for example, if you are selling your house for 150,000, you would need to pay between 3,000 and 7,500 in closing costs. If you are selling for financial reasons, you might not have this kind of money. If the retail buyer had an industry professional to represent them, you would need to cover their fee as well. If you sell your home to an investor, the closing costs wouldn’t be your responsibility, becasue the investor would cover the costs.
Selling a home can be a very time-consuming process. If you want to sell your home as quickly as possible without any hassles and delays, you should consider selling to We Buy Houses Clarence Center.