Selling a home is one of the most common experiences of adult life, and for different reasons, we all get to a point where the space we’re in no longer suits or serves us and our families. In 2020, for example, we saw a lot of people selling their homes in the city in favor of homes on the outskirts of the city. People realized that they wanted to be in new surroundings since they were working from home and didn’t have to stay in urban areas. For other people, selling a home is to fit in with the goals you have for your family, like more space for growing children, a bigger yard and better schools.
There are so many reasons people sell a home, and as a result many options. We don’t just have the option of selling a home via a traditional real estate agent, we can also sell a home to an investor who can take some of the home selling stresses off the table completely. How do you know if selling to an investor is the right approach for you? Here’s a list of pain points or value points that would make your house the perfect candidate for an investor-buyer.
If the house or apartment is an investment property that you’re managing yourself as a landlord, remember that there is always the really helpful and simple option of getting professional real estate management for the home. RPM Evolve is one of the top Phoenix property management companies, and they can take the headache of dealing with tenants and other parts of owning a property off your plate. That way you can enjoy the cash flow of the property without all the things that make people want to get rid of investment properties that could be earning them money.
The House Has Become a Burden
At best, a property is a place we can live or an investment property that earns us money, but when it’s not any of those things, it can easily become more of a thorn in our sides. For many reasons, a property can become difficult to maintain. Sometimes it’s something as simple as the property having too many taxes on it, a lot of damage, maintenance expenses and other things that will make it a headache to manage and deal with. Often people inherit a home that has too many issues and instead of trying to fix it, it’s just so much easier to cut losses and sell it to an investor who might be able to deal with the issues, improve the home and then put it back on the market as a listing or a rental.
When We Don’t Have a Lot of Equity
The amount of equity you have in your home is a really big factor in the decision to sell the home traditionally, or to sell it to an investor. Often selling to an investor means we sell for less money than what we might get from a traditional buyer. If your home has gained a lot in value or you’ve had it for a long time, there’s a good chance that the money you earn from listing it the conventional way will bring you the return that you might want. But if you want to just break even or make a little less than a traditional listing, you might want to consider the investor option. Bear in mind that good investors won’t low ball you, they will still give you an offer that makes the transaction worthwhile.
When We Want the Process to Be Fast
The process of selling a home can take months, with everything from picking a real estate agent, to getting home inspections and appraisals. If you’re in a process where you need to get out of the house you’re in now so you can quickly move into a new home in another city or place, an investor would be the right option. With an investor, it takes days or weeks for everything to be finalized so you can move on. One of the biggest pain points is needing the money from the sale of the current property to pay for the new home, an investor can have that money ready for you so you’re not waiting for a traditional closing.
When the Renovations Before Selling Will Be Too Costly
When we want our home to fetch the best price, we often have to update the home a little bit so that it appeals to the widest market possible. Sometimes these are very simple cosmetic changes like a coat of paint, but other changes are bigger and obviously more costly. Things like replacing windows, repaving driveways, removing walls, changing kitchen cabinets are projects that an investor can undertake without a whole lot of cost being added on your bill.
Listing your home traditionally isn’t the only option you have if you want to move into a new home, or take an investment property off your hands. Investors exist as a worthy third option, especially if you want a fast process that takes away a lot of the stress. Remember, the right investor wants to help you solve a problem, and if your goals can align with theirs, you’ll be pleased with the result.
