When people are facing financial challenges, divorce, and foreclosure or relocating to new places, they may be compelled to sell their houses. Real estate agents have dominated the industry since they are known to handle the buying and selling process of different property. Apart from realtors, homeowners can also sell their houses to real estate investors. Before engaging real estate investors, it is crucial to research for suitable ones that will give a good offer. Homeowners stand to benefit in the following ways when they engage real estate investors in the sale process.
When homeowners sell their houses to real estate investors, they will not be required to undertake repairs before selling the houses. Real estate investors will buy houses in their present condition and undertake repair work according to their proffered designs. Real estate investors will be required to some deduction from the original cost of the house that will be used to undertake repair work.
Real estate investors will be suitable to deal with since they do not keep homeowners waiting for a long time before receiving payments. Once a real estate investor is interested in the house, they can give their deal within a day, a week or a month which is a shorter period. This is not the same case when homeowners engage realtors since they can take several months before identifying a potential home buyer. Homeowners will receive payments for their house after a short time and this relives them from engaging in excessive borrowing. Real estate investors do not depend on financial institution so they do not back out the deal . When homeowners rely on other buyers; they can be inconvenienced since they will back out if the deal when they fail to secure loans.
Homeowners that are facing foreclosure are encouraged to sell their houses to real estate investors since they do not wait for foreclosure period before buying the houses. The available cash can be paid to mortgage companies in good time before the houses are repossessed. Real estate investors are a suitable option to deal with since they do not charge commission for buying the houses. When homeowners sell their houses through realtors, they will be required to pay high commissions which may not be affordable to some homeowners. Apart from paying high commission, homeowners that engage realtors will also be expected to pay for appraisal and inspection fee among other taxes that are involved in the sale process. This may not be affordable to homeowners that are facing financial challenges.