There are several myths about selling a house straight to an investor. Perhaps because of our advertising that says “sell your house fast for cash” or “we buy houses for cash.” People appear to have these expectations based on the tales they have heard or read. However, the majority of real estate investors are excellent, passionate individuals. Unfortunately, this “spamming” of neighborhoods only seems to support the falsehoods we already hold about real estate investors and house-buying businesses.
The following are the three common real estate investment myths.
Myth #1: Investors Are Scam Artists
It is not a fact. Most of the time, cash buyers are reputable businesses that also happen to buy and sell real estate. There will be people in this group who are knowledgeable and skilled and people who have only recently attended a seminar, just like in any other organization. The latter group has, however, soiled the reputation of genuine cash buyers. The signs that read “We Buy Houses” posted across your area disappear almost as quickly as they appeared.
Ensure the cash buyer you are considering won’t disappear before you accept their offer. It’s crucial to know that they won’t abandon you when it’s time to complete escrow and will be there with the funds. Make sure to look up their references as well. The best individuals are those who have previously sold real estate. Anyone with experience has previous customers, coworkers, or real estate agents who can attest to the honesty of your potential buyer.
Listen to a real estate investor who wants to purchase your house. They might be able to provide you with a great solution to ultimately save time and money on the sale of your Philadelphia home by working with the appropriate investor! You should be able to come up with a solution where everyone profits!
Myth #2: Easy and Fast Closing Is Impossible
Most real estate escrows last between 1-2 months so buyers can complete their inspections and obtain loan clearance. However, 7–10 days is not a problem for a reputable real estate investor to process escrow. Closing in 10 days is feasible if the buyer and seller keep the title firm informed. When the need to prevent a home from going up for auction was urgent, we buy houses in just three days. If the seller needs longer than ten days, the buyer and seller might agree on a closing date. Even renting out the seller’s current home for a while is possible.
Myth #3: I Will Earn Less Money Than If I Sold Through A Realtor
You’ll typically be better off selling through a realtor if your home has been upgraded and doesn’t require any repairs. Your realtor would probably offer the property for less than other properties that are more expensive if your kitchen or living room is outdated. Additionally, this will lower your earnings. You will need to make adjustments if your home needs considerable repairs or if the home inspector for your potential purchasers finds that your home requires repairs.
You’ll either need to lower your offering price or undertake the job yourself if renovating a kitchen or restoring a patio will cost you thousands of dollars. Decreasing the asking price won’t save you. You must still pay the real estate agent’s commission. This sum, which typically ranges between 5 and 6 percent, was divided across the various agencies. If your home needs major maintenance, it is wiser for you to sell it directly to a cash buyer to save commission fees.
If you have questions regarding selling your house to an investor in Philadelphia, we at PhillyCash4Homes are here to help. Contact us today to learn more about the benefits of selling your Philadelphia property. With no commissions, no repairs, and no realtors, we buy houses for cash as-is.