July 11, 2017By Alex Romanov
If you’re planning on selling your home, your first inclination is probably to find a good real estate agent.
After all, that’s the way most people do it.
But what you may not realize is that there are actually a lot of risks involved with selling a home through a real estate agent.
Here are 5 risks you avoid when you sell your home to a real estate investor instead.
Sometimes the agent will price the house incorrectly, so it ends up sitting on the market for months. In the meantime, you’ll incur holding costs such as taxes, insurance, utility costs, maintenance, and mortgage payments.
You may also not get the money you need to purchase your next house in time.
If the inspector finds things that need major repair during the inspection, the buyer’s financing institution may require those repairs to be made before they’ll finance the transaction.
If there are housing code violations, which is likely with an older home, they may be disclosed to the county.
Things like roof repair, termite extermination, plumbing replacement, septic system fixes, air conditioning repair, or a cracked foundation are extremely expensive.
The buyer’s financing institution may appraise the house below the agreed sales amount, and if that happens, you’ll have to either accept a lower price for the house or find another buyer – resulting in even further delay of the sale.
While it’s exciting when the purchase and sale agreement is finally signed, your bubble may be burst when the buyer fails to qualify for the loan.
You will have wasted valuable weeks of time and incurred holding costs. Plus you’ll have to find another buyer and start over again.
Having countless people traipse in and out of your home certainly isn’t ideal, especially if one of your family members is in poor medical condition or your house is in disrepair.
And although it’s rare, household items can be stolen during open houses.
Depending on your situation, selling your home to a real estate investor for cash may be a better way to go. There are zero fees, they buy your house as-is, and pay in cash. Plus there are NO surprises.
Want to learn more about how selling your home for cash works? Click here or fill out the form below.
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