Planning a move can be a daunting task. The stress is magnified when you have to sell your house fast. Traditional home selling methods can have your property stuck in the market for months — not counting the staging and agent fees you’ll incur.
Getting to sell a house fast for cash to private real estate investors is an attractive alternative. However, with a lot of misinformation going around, some homeowners tend to steer clear of cash buyers. Before you brush off the offer from the real estate investor, here are five myths about them that you need to drop.
1. Real Estate Investors are Unethical
Most cash home buyers treat the home buying process as part of their business and are ethical in their dealings. Just like in any industry, it’s always possible there are bad apples. This does not mean, however, that every real estate investor is out to defraud you. To quiet your fears, it would be necessary to research the cash buyer before settling for a deal. Check their website and find out what their past clients say about them. Verify their BBB rating and ask to see proof of funds for the purchase, as well. As long as you do your due diligence, you don’t need to worry about getting scammed.
2. You Need to Repair Your Home Before Selling
The traditional home selling process may demand that you conduct expensive repairs to make your home attractive to potential buyers. Most homeowners carry this mentality when dealing with real estate investors. However, most cash home buyers do not mind your home’s condition and will buy the property as-is. You do not have to renovate your roof or kitchen. You will sell a house fast as there are no inspections necessary.
3. Your Negotiations With Cash Buyers Will Take Forever
When you sell your home in a conventional manner, your home can stay on the market for an average of 63 to 95 days from listing until the closing of a deal. Cash buyers allow you to sell a house fast through an expedited closing process. You can often close within seven days.
Real estate investors will make an instant cash offer after a walkthrough of your property. You can access the much-needed cash in a shorter timeframe. You also get to choose the closing date you desire, helping you plan for your move.
4. Real Estate Investors Have Contingencies
Anyone who has sold through a real estate agent understands the pain of experiencing a buyer back out of a deal on a whim. Cash home buyers buy the property on an as-is basis and will not have any contingencies. There is less risk of the sale falling through as it may damage their reputation in the community. They do not rely on mortgage loans to finance the purchase. You get to sell a house fast for a fair price.
5. Cash Buyers Only Make Low Ball Offers
Most homeowners wrongfully believe that real estate investors paying in cash will be out to buy their houses for pennies on the dollar. Contrary to popular belief, you do not have to lose money on this type of sale. You get an instant, fair cash offer depending on the value of your property. You do not have to worry about inspections, appraisals, and staging. Generally, you should deal only with buyers who extend fair offers.
Homeowners are slowly embracing the benefits of selling a house fast. Do not let the debunked myths hold you back from a good deal. Do you wish to sell a house fast in Peterborough, Ontario? Contact us today to learn more and obtain a quote quickly.