The investor knows when a property hits the MLS several things happen and your home that you could have just sold in just a couple of days, mite now take a month or more. When it is broadcast to the world, that becomes the new value of the home in most cases.
Conventional Mortgage – A sale is a sale. Title and a transfer of funds takes place in all transactions. What they don’t have in common is the circumstance behind the sale. Sellers need to sell for all kinds of reasons and if you need a quick sale a conventional mortgage is not going to work. Most Realtors deal with conventional buyers and conventional mortgages. What you need is a CASH buyer.
Devalued – If you need a quick sale, and list it with a Realtor. They may discount your property in hoping that a bidding war may take place. Not likely in this market, but it could happen. A more likely scenario is it will just devalue the property. Let’s say they list it for 20% under market value. You may get a couple of new investors to look at it and think that’s a great deal. The seasoned investor won’t even give it a second look.
Commission – When selling directly to an Investor there is no commission. The investor makes his money on the buy.
If he buys it right, he will make a monthly cash flow or if decides to fix it up and sell he makes his profit when he sells.
Consider finding a local investor. You can find them on any search engine by typing in “Real Estate Investor (your city)” as well as a Realtor. Talk to both of them, way out your options, and see which one is the best fit for you.
These are just tips to consider if you need to sell your home fast!