Sell My Home For Cash To An Investor? Pros & Cons. The benefits & drawbacks of selling your home to an Investor
Pro: Investors can close fast! • Most Long Island Investors are ALL CASH home buyers. • ALL CASH = No bank involvement and no financing contingency. • Investors are experienced home buyers that have systematized the buying process minimizing the potential for problems and issues.
Pro: Long Island home investors buy houses AS IS • When selling your home to a local investor you don’t have to clean or make any repairs. • Home buying companies will remove junk in your yard. • Have fire damage, squatters or other problematic situations? A professional house buyer will not shy away and is most likely your best bet!
Pro: easier than working with a realtor • No 4-5% broker commission. • You don’t have to open your home up to strangers for months of house showings. • No need to keep your house clean and clutter free for long periods of time while your realtor tries to sell your home.
Pro: avoid months of carrying costs • Every month your home sits on the market you have to continue paying the bills. • Sell your house fast to an investor and you won’t have to worry about taxes, insurance, utilities etc. • Don’t waste your money on monthly carrying costs when trying to sell a rental property or an inherited house.
Con: RE Investors offer slightly below market value • We buy houses companies typically make cash offers anywhere from 65 - 85% of retail value. • The more work that needs to be done on the house, the closer to retail price an investor can pay as they can make more of their profit from the upgrades. • Most of the difference between an investor’s offer and retail price is mitigated by not having to pay costly commissions and months of carrying costs while a realtor tries to sell your home.