How To Sell Your House Quickly To A Real Estate Investor in Syracuse NY
When you get ready to sell your home, typically you would expect a nice young family or or older couple putting in offers on your home. However, if you are looking to sell your house quickly, this may not be the best solution for you and your family. The real estate market has drastically changed in the past 10 years and more and more home offers are coming in from real estate investors. Real estate investment firms or real estate investors are buying residential or multi family properties to use as rental properties, rehab and sell along with other investment vehicles. These businesses/individuals look to buy properties at a discount in exchange for the beneficial terms they offer.
Since you may be hearing or seeing more indicators of real estate investors beginning to purchase properties, I wanted to explain to you what you should expect, how the process works, areas to be cautious of and if it is a good option for you and your family. Real Estate Investment firms offer benefits that traditional home transactions do not and traditional sales offer benefits that Real Estate Investment firms do not. Everyone's specific situation is different and we want to make you aware of all of your options to see which one fits for your specific situation.
What To Expect When Selling To A Real Estate Investor in Syracuse NY
There are several different scenarios that you can experience when dealing with a local real estate investment firm. If you are aware that selling to a real estate investor is an option, you may have seen a "We Buy Houses in Syracuse" sign, been contacted by an investor or maybe searched on the internet and found one. Just like with any business, depending on who you contact, your experience with these folks could be either good or bad. You should do some due diligence to see if this firm or person has any credibility in the industry. The reason we say this is because real estate investors do tend to have a bad stigma surrounding them and not all firms are built alike.. You should do a quick google search of their company name, see if they have an online presence, are actually purchasing homes and most of all see if you feel comfortable with dealing with this specific business.
If you get in touch with a professional real estate investment firm, your experience should be no different, if not better than dealing with a real estate agent or brokerage. They should know all of the details on the specific market, what value they can bring you and how they can help you. Real estate investors offer value that a traditional sale with a real estate brokerage can not. You just have to see if the benefits they offer align with the needs for your family.
Areas To Be Cautious When Dealing With A Real Estate Investor
Every industry has their drawbacks and areas you should look into before choosing to do business with a specific firm. As we stated earlier, this specific industry has the ability to put you in contact with some shady individuals who could potentially not be looking out for your best interests. Before making contact with any real estate investment firm, we suggest that you educate yourself on the process and how it works, so you have an understanding of how the business works prior to your initial conversation. Here are some topics to be aware of before moving forward with a real estate investment firm:
Real Estate investors are not required to tell you how they plan to use your home - Understand that they are using your property as an investment vehicle and will not be their primary residence.
You are not going to get the best deal on your property - Real estate investors are looking to purchase homes at a discount that are typically in a distressed situation (financially, property or live events)
Beware of who you are dealing with - Make sure the business/individual you are dealing with has some credibility - Ask for references.
Investors do not need a license to buy.
Investors are typically purchasing your home to sell for more or rent out - They are typically looking to purchase your property to add value and make a couple dollars somewhere in the process.
The Process: Selling My Home To A Real Estate Investor in Syracuse NY
Now that we have a better understanding of what we should expect, areas of due diligence we need to perform and how to vet out true investors. Let's go over the process of selling your home to a real estate investor. The process of selling to a good real estate investment firm, should be very simple. This is one of the major ways selling to an investor can benefit you and your family. The whole process starts when you contact the real estate investor or they contact you. Whether you had a phone conversation, filled out an online form or heard about them through a reference. You will be asked to give information on your current housing situation, current condition on your home and some specifics on your property. This information will be used to figure out the best solution to help you and you family. A real estate investor tries to analyze each property they receive, so they can find a solution that will benefit both the seller and themselves. Here are some quick steps on how the process works:
Contact was made between you and the real estate investor in Syracuse NY to sell your house quickly.
The real estate investor will set up a phone call or have you fill out a form to obtain information they need to evaluate the property to see what option works best for your situation.
The real estate investor will set up a time to come and meet you and take a look at the property.
At that time they are trying to see what condition the property is in and if working with them with work for both parties involved.
After the walk through, the real estate investor will typically write you up a cash offer for your property.
As you can see this is a very simple process that does not involve several of the steps involved in a traditional sale.
Real estate investors offer certain advantages that your typical (real estate agent) sale will not offer. The value that real estate investment firms bring and the reason homeowners sometimes decide to work with them are:
When you sell to a real estate investor, there will be no commission costs on the sale.
There will be no extra fees associated associated with the sale
The seller will not have to pay closing costs - You do not pay closing costs, which are about 3-4% of the sale price.
The seller will not have to make an additional repairs - They purchase AS-IS, so you will not take money out of pocket to get your home ready to sell.
The seller will not have to maintain/clean their home through the sale process - It is a one time thing. You will not have a bunch of agents or potential buyers walking your home.
The seller will not have their home sit on the market - The transactions take only about 20 days, so you will not have to pay your taxes, mortgage and insurance for long.
Real Estate investors can typically close in 20 days or on your scheduled timeline.
The seller will not have to deal with open houses.
Real estate investors offer cash so you can sell your house fast. - You will not be dealing with banks, so there is no chance of the dealing falling through, home not getting appraised, banks not lending do to repairs or all of the other loopholes you have to go through when dealing with a bank.
Is Selling To A Real Estate Investor in Syracuse NY A Good Option?
The answer to this question depends on your specific situation. If you have a perfectly good house that does not need any repairs and your house is worth full market value then working with a real estate investor is probably not the best option for you and your family. If you are in no rush to sell your home and are ok with your home sitting on the market, then selling the traditional route may be best for you.
However, if you are looking for a quick sale, your home is in need of costly repairs that you do not want to pay to have fixed then working with a real estate investor may be your best bet. If you are moving out of state and do not want to take the time to hire a agent and work to get your house sold, are willing to sell for a discount then contacting an investor may be a good option. If a family member has passed and you inherited a home in Syracuse NY and you want a quick sale, a cash offer and to get the home off of your plate, you should probably contact a real estate investor.
There are different scenarios for each homeowner trying to sell their home. We want to educate you on all of your options and see what option works best for your specific situation. Several homeowners are not aware of the value that a real estate investor can bring to home selling process. Like we said, selling to a real estate investor is not for everyone but for some people who find themselves in these certain situations, it would be a good idea to contact them. They may be able to help you out and simplify the home selling process.
If you are looking for a quick sale on your home in Syracuse NY, look no further. We have been purchasing properties in the Syracuse area for the past 4 years and have helped hundreds of homeowners achieve a hassle free sale along the way. The process is easy and simple to start. Just click this quick link and we can start the process.
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