Selling Your House to a Cash Investor
About the book by Saul Z
After being in real estate for over a decade, I realize that there are quite a few people who don’t want to deal with the traditional way of selling a home. And it took me years to realize that by working as a licensed real estate broker, you are conditioned by the industry to get the highest price. That sounds good, but in the end, it isn’t always right for the seller.
Ironically, it’s true only from a real estate agent’s perspective. The higher the price, the more commission agents make — and that doesn’t work for those 1 in 10 who can’t or don’t want to go through the expensive, time-consuming home repair process that can maximize the value. It doesn’t work for the people who simply don’t want to deal with all the things that come along with selling. It doesn’t work for the people who put more value on a quick, no-hassle sale than on making sure they sell for the absolute highest dollar amount (when and if that sale actually happens).
After buying homes directly from sellers, I had another realization: they are underserved in the market because many of them have some type of situation that can’t be addressed by a traditional real estate agent. These situations can fall in three categories: a Money Problem, a Property Problem, or a No Hassle Problem.
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A ‘money problem’ seller could be some type of default on taxes, a mortgage, a bankruptcy, etc. in which the seller needs to sell the home quickly. There’s just not enough time to put it on the market, or it’s too risky for them to deal with a retail buyer.
A ‘property problem’ seller could have an outdated home, damage to the property, code violations, hazardous conditions, or any issue that makes the home a poor fit for a retail buyer.
The ‘no hassle’ seller tends to be someone who may have inherited a home from a relative or simply wants to move on as smoothly and easily as possible. Sometimes they’re not as personally invested in the property; other times their lives are so busy that they just can’t handle the traditional realty process, especially if they’re living in a different city or state.
No matter which of those three scenarios describes your situation, cash investors can solve the problem. What I’ve learned over more transactions than I can count is that our sellers are much more grateful and appreciative for solving their problem compared to the ones I represented as a real estate broker and selling retail.
Retail sellers, for the most part, are not the happiest campers. I don’t blame them. Deciding to sell a home retail is a lot to take on, and most of the time they blame the agent, the market, the buyer, the attorney, the title company, or anyone else in the long, complicated process — and the more that process drags on, the more likely it is that something can go wrong.
With all that in mind, I decided to write a book about what it’s really like selling to a cash investor. I’ve interviewed a range of our clients who all shared their experience selling directly to an investor. Each story summarizes their situation and reveals how they felt about the process. They show what made them comfortable and why they chose — or didn’t choose — a potential investor. After each story, I offer an important lesson that will help you understand how to feel confident about working with a cash investor and, ultimately, to determine whether that process is the right fit for you.
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