If you have a property that you’re going to sell you can go a bunch of different routes. The traditional route is to list it with a realtor. You may get the most money this way but it is uncertain when it will close, a lot of showings, and you have to pay commissions and closing costs. Second way is to sell it yourself or for sale by owner (FSBO). This cuts out the commissions but then you have a limited amount of buyers looking at your house and it’s a lot more work. Lastly, you can sell your property to an investor or cash buyer. They may not pay you the most but you have the certainty that it will close, no repairs, and no commissions or closing costs. They cover all those fees. A lot of people are uncertain about dealing with an investor because they don’t understand how it works. We will go over step by step the process of selling to an investor.
You may have received a postcard/letter in the mail or you can go online and get an investors information. Simply put in cash buyers in your area, sell house fast, or something like that and some will pop up. Always look for companies that are highly rated and are accredited by the Better Business Bureau. Once you pick a couple companies submit your information to the site or simply call. To start they will most likely just need a little information. Name, email, phone number, and property address.
Someone will personally call you to review your information and situation. We also can meet with you personally to see your home and so you know that we are real. After meeting and inspeciton they then will give you a cash “as is” offer for your property. They will also send you a written offer for your review via email, mail, or in person. All offers have no obligation. You can review it with your family or friends to make sure it is the right fit for you.
You can either accept or reject the offer. If you reject it I would always tell the investor what would work because you never know they might be able to change something about the offer to make it work for both parties. If you accept the offer you sign the purchase agreement and buyer signs as well.
We open at a reputable escrow and title company. We use a company that has a long track record for all our transactions( http://www.allisonmccloskeyescrow.com/). They will contact you and get some information for them to write up escrow instructions. Which is instructions to both parties how the transaction will happen. The date of closing, purchase price, parties involved, etc. Once those are written both parties will review and sign them. As long as there are no objections and title is clear and/or they have the payoff from the bank if there is a loan on the property. You are set to close.
The buyer/investor wires there money to escrow which will then get sent to you/seller. Buyer gets the deed to the house and the seller gets the money agreed upon.
Hopefully, this clears up any uncertainty someone may have regarding the process of selling to an investor. Selling a house can actually be a pretty stress free simple process.