Selling your house to an investor is a straightforward process. When you see an advertisement stating, “We buy houses in Oak Lawn” it is usually for one of three reasons;
- Buy the house and hold on to it
- Buy the house and sell it immediately, or
- Flip it
You may not like the initial offer that you get from an investor. However, you must understand the offer is not being made to insult you; it is an offer that makes the entire proposition workable to the investor. Chances are the property is in disrepair, and you do not want to make any further investments in it. Think of the investor as a problem solver. They help you get rid of a house that is, or is about to, become a burden.
Buy and Hold Investors
This investor is one who purchases properties, repairs them as necessary, and puts the home on the rental market. These people either manage their property portfolio or outsource the management to professionals. Regardless of how the property is managed, the investor is looking to grow his or her real estate portfolio.
Buy and Sell Investors
Some investors have no desire to hold title to the property for long. These people often purchase a property and then sell it to a “buy and hold” investor or a flipper.
Flippers
Chances are you have seen programs on reality TV about someone, or perhaps a couple, who buy the worst house they can find for the lowest possible price. They then proceed to literally tear it back to the floorboards and studs and rebuild it completely. Once completed, the house is sold for a handsome profit.
There are two major advantages to selling a home to an investor. The sale is cash and quick, and you do not have to do any repairs or modifications.
For more information contact CHI Home Buyer.
