“House Flipping” is a term used by real estate investors and investment groups. The investor purchases the house, only to resell it at a profit. The value of the property appreciates either because of dynamics in the market or because the house was renovated and improved.
These investors are keen to purchase houses. They let it be known that “We buy ugly houses in Colorado Springs.” Although you may get more for the house if you were to list it with a real estate agency, the period to complete the transaction is anybody’s guess. This is not the case when you sell your house to an investor. In the majority of cases, you will see your money within a week or two of agreeing to sell.
The benefits of selling to investors:
Fast and Easy: Selling a house is often a time-consuming exercise, especially when you sell it using conventional methods such as listing it with a realtor or attempting to sell it yourself. When you sell to a company that intends to “flip it” or use it as a rental property, you eliminate the time and effort required to list the house and wait patiently for potential buyers.
When you list your home with a realtor, it is in your best interest to make any repairs and redecorate. Investors are not interested in the condition of the house. Ugly or not, an investor will buy it.
Avoid Trying to Sell It Yourself: Trying to sell the house yourself can be very difficult. Certainly, you will save on agent commissions, but you will have to expend a lot of time and possess certain skills to do it right. Putting a “For Sale by Owner” sign on the lawn is not enough. You have to spend time, money, and effort to promote it properly. It is especially hard to sell a house that is run down or needs extensive repairs.
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