Ever wonder how investors buy houses for cash? Easier and faster than traditional buyers on the real estate market…that’s for sure! If you need to sell a house and are not familiar with selling ya house to an investor in Cleveland Ohio you will definitely want to learn about this strategy.
When it comes to selling a property, pretty much everyone would prefer a stress free and hassle free sale. You want to be able to sell your home at an ideal asking price and walk away from the closing table happy. This is the best case situation. Cash received and a quick, easy selling process.
Unfortunately, most home sales are NOT quick and convenient. Selling your house usually means a long, stressful battle to please demanding buyers. It usually means compromising on price and other things in order to get it sold. Fixing up the property and hosting endless open houses and showings can become a financial burden, and emotionally overwhelming.
For sellers wanting to simplify the selling process selling your house to an investor in Cleveland might be your best bet. Learn more about this strategy and if its a good option below.
How do Cash Investors/We Buy Houses Companies Buy Your House for Cash?
Most homeowners envision their property being sold to a typical buyer. This is a family or young couple with the desire to live happily ever after in the home. However, individual buyers aren’t the only option when trying to sell a property.
Many house buyers are professional real estate investors with interest in the property’s potential. These real estate experts are investors, often making fair cash offers exceeding the homeowner’s expectations.
How do investors buy houses with cash? These investment companies and individuals purchase properties needing renovations.
How do they make their money? They rehab and resell the property at a profit. Alternatively, they rehab them and keep them as rental properties to generate income.
The Pros and Cons of Selling Your House to an Investor in Cleveland
There are both advantages and disadvantages to selling your property to an investor. You should weigh both the pros and cons before making any concrete action.
Benefits of Selling Your House to an Investor in Cleveland
The benefits of selling your house to an investor in Cleveland are numerous and will likely appeal to most homeowners. Some of the benefits are listed below. Then they are discussed in detail.
- We buy houses companies buy in cash and close quickly. The process and hassles are simplified.
- We buy houses companies offer flexible buying arrangements: they may take over your mortgage payments, pay delinquent taxes, pay off liens, help remove tenants, etc.
- We buy houses companies buy houses as-is. They require no repairs and no concessions at closing, etc.
First, we buy houses companies buy in cash and can close quickly. This offers opportunities to you, the seller.
Traditional house buyers have several limitations that complicate the process of selling your house. A traditional buyer is typically forced to get a loan or other financing to purchase the property. Investors will use cash without any banks involved. This allows sellers to skip waiting for the lengthy financing application and approval process and move on with ease. If you are looking to close fast this is one of the biggest benefits to selling a house to a cash house buying company (investor/we buy houses company).
Second, is the investor’s ability to offer flexible buying arrangements. Traditional house buyers need the house to be in perfect shape and all financial burdens clear from the title. In other words, traditional buyers don’t want any problems with the house.
Many we buy houses companies are willing to take over a homeowner’s financial burden as an added bonus to selling. They may be able to take over the homeowner’s mortgage, pay their owed delinquent taxes, pay off liens, etc. This is especially beneficial to sellers that are underwater or who are facing losing their house.
If you are a landlord wanting to sell a rental with tenants, they might be the only buyers willing to buy the house with the tenants. This is obviously a big plus.
Third, we buy houses companies buy houses as-is. This is the biggest advantage to selling your property to an investor instead of a traditional buyer by far. Even a lot of real estate investors don’t buy as-is. We buy houses companies do, which if you need or want to sell as-is is a big benefit.
Sometimes homeowners are unable to make necessary home repairs due to cost. Other times, they’ve inherited the property already damaged and wish to sell it immediately without sinking money into it. Whatever the scenario, investors will happily gobble up severely damaged properties, including rentals and inherited homes. For a seller with the financial burden of owning a dilapidated property, investors are an attractive option.
What are the Disadvantages to Selling Your House to an Investor in Cleveland?
Like with anything, there are a few disadvantages to selling your house to an investor in Cleveland (or any other market).
For instance, some scammers pose as investors willing to submit an offer. However, these illegitimate buyers are more interested in tying up your property in purchase agreements than actually closing the sale themselves. Unfortunately, investors aren’t legally required to expose who is making an offer and their intentions; this legal loophole allows many scammers to actively fool the seller without any consequences.
Many sellers also find themselves needing to vet investors more than traditional buyers. This is bit of an upfront process to ensure that the we buy houses company you sign a contract with is reputable. However, i
Making a Deal With a Cash Buying Investor
Now that you can identify the major benefits and few disadvantages to selling your house to an investor, it’s time to learn how to sell to house buyers.
As alluded to above the process of selling your house to an investor is simple. This is due to the investor’s willingness to buy your house as is and close quick without any banks involved.
On other side, transforming your home in hopes of appealing to a traditional buyer on the market can be difficult. It often means updating the property and adding curb appeal that attracts the average buyer.
Investors are less picky and look for a couple key factors before making a deal.
What Kinds of Houses do Cash Buying Investors Buy?
Investors generally search for homes that need work in superb locations. Properties that are undervalued due to extensive damages are a great deal for investors willing to renovate before reselling.
Homeowners that have become landlords are also ideal potential sellers; their tenant-occupied rental properties are desirable nuggets of potential profit to a serious investor. Homeowners with any of the properties described will attract a local investor willing to make a deal.
Things to Note When Selling Your House to An Investor OR Any Buyer
Before finalizing the deal, it’s important that you carefully look over the sales contract agreement. You should do this with any offer you receive as a general guideline.
Don’t get me wrong, most investors are professional house buyers with no intention to mislead the homeowner. However, we have heard stories where some will change the price or other agreed upon details in the contract. As always make sure you read and understand the contract before signing. If selling an FSBO, it’s especially important to have an expert read over the contract before closing.
How Investors Buy Houses
What’s the process?
When it comes to how investors buy houses, the process is simple. If the local investor doesn’t make initial contact with you then you can inquire about the house buyer via an online form or obligation-free phone call.
After making contact, the investor will set up a home visit with you to assess the property to calculate a fair price. Once the investor has considered the purchase cost, including comparing it to other homes of similar size in the neighborhood, they will submit a cash offer to you. There are no stipulations or contingencies involved; the investors will buy the home as-is. Once the offer is thoroughly looked over and accepted, investors ensure closing at the seller’s convenience. It’s that easy.
Working with a professional investor is a hassle free experience for homeowners interested in convenience and simplifying the selling process.
Interested in Selling Your House to An Investor In Cleveland?
We would love to talk to you. Sesa Properties is a local, trusted cash house buying investor operating in greater Cleveland, OH. As a company we are dedicated to making the selling process as expedient and painless as possible for those who need to sell a house in Cleveland. We buy houses for cash, as-is and aim to make the entire process as quick and easy as possible. If you are ready to find out what we can offer for your house click here to get your confidential, obligation free offer started.
The information presented in this article is for educational purposes only and should not be considered legal, financial, or as any other type of advice.
About the Author:
My name is Dan Sarao. I am the Co-Owner and Managing Partner of Sesa Properties, a cash home buying and real estate investment company operating in Cleveland, OH. In my former life I was a marketing and product executive at a US based coatings company. I left that role to pursue my passion for real estate. I am motivated everyday to find and help homeowners who are in stressful situations and need to sell their houses quickly outside of the traditional sales process.
I love meeting and talking to new people and finding solutions, no matter what the situation. If you are a homeowner, investor, etc. and would like to work together or even just talk feel free to contact me personally at Dan@webuyhomescle.com.