Real Estate agents are known for getting the most out of properties, of course this service comes along with a 6% charge and many recommendations of how to “maximize value.” Even as this is a great choice for many sellers, there is no “one size fits all” when it comes to selling real estate. Using a real estate agent when one is not needed may end up costing you more. Properties vary from their condition and classifications; buyers searching for a move in ready single family residence are not the ones looking for a fixer upper or multi family property. Real Estate agents are worth their weight in gold when the buzz they generate for listing your property is well worth the 6%, but this coin flips when the property is not one a typical home buyer is seeking.
Selling properties directly to an investor carries a negative connotation as many believe they are not getting the full value it may bring on market. This is no farther from the truth; putting such properties on the open market may end up costing more in the long run. Investment properties retain a stigmatism as they are often considered on the brink of falling apart. Not all properties that investors buy are in such disrepair. Oftentimes, children and pets wreak havoc on the walls and flooring, costing homeowners thousands of dollars to return their home to market ready condition. Investors oftentimes do not mind these flaws as they intend to fix them anyways, whereas a typical home buyer will want a credit to address such concerns-if they are even interested in taking on a home that needs work. Homes that require work oftentimes sit on the market much longer than their “move in ready” counterparts, resulting in price reductions until someone is willing to come in and do the work-like an investor. The unfortunate fact is even when a home on the market is price reduced to entice an investor, a realtor is still owed 6%. Not only will you take less than originally anticipated, it will come at a cost.
Situations where this virtue holds more significant value is when properties are in disrepair, returning them to a livable condition will take months and a lot of money. Properties that find themselves in such a condition, wether it be from neglect, unwanted inheritance, foreclosure, or some other stigmatism, are some of the last properties anyone looking for a home to live in will consider. This greatly narrows the buyer pool to investors. When properties such as these hit the market at a price that doesn’t make sense for an investor, they become stale listings that require price reductions to move. Just as the last scenario, a realtor is owed 6% whether the homeowner profits or loses, making such a loss even more catastrophic. When selling properties in need of major repairs, selling directly to an investor will guarantee you close to what anyone will pay on market, without the cost of real estate commissions.
Obviously, there is no question of why Real Estate Agents are not great fits for properties that need work, but what makes the modern investor a good buyer? The most apparent answer is investors take properties “as is,” the work required on these homes are not overwhelming to seasoned investors as they will buy any property as long as their numbers work. For those wanting to relocate out of their home and need to close on their next home in a certain time frame, investor closings are the most beneficial. Instead of waiting on a bank and a closing for your current home, investors can close on the exact day you need them to-leaving you with funds to purchase your new home. Cash is king for a reason and selling your home to cash buying investor will shield you from the drawn out process that real estate transactions have become. There will be no appraisal or laundry list of repairs in order to close. Aside from saving you the cost of a real estate commission, selling your “as is” home to an investor will ensure the terms of your closing work for you as you profit more than you likely would with a realtor on the market.
Ever since the pandemic, the real estate market has been red hot- leading many to conclude selling a home, no matter the condition, is a job for the local realtor; this could not be farther from the truth. Owning a home in a city such as Asheboro that is in need of repair will not bring as much as the move in ready home. The buyer pool is extremely lessened when it comes to homes in need or work in small towns such as Asheboro. Instead of listing a less than perfect property with a realtor and giving up 6% of your net proceeds, call a local investor like Helpful Homes. Not only will they tailor the closing to your needs when it comes to timeline, they completely eliminate the need for a realtor as they pay fair market value for properties. There is no need to chase a pipe dream of a bidding war from a distressed property by listing, it will only cost you a commission after the property sells to the investor that would have paid the same price off market.