There has been a lot of information in the news about how the real estate market is slowing down. It seems that the interest rates are starting to rise and the sub-prime or risky loan market is having a lot of trouble right now. This has caused concern for many people that NEED to sell their home and don’t have the luxury of waiting for the market to change.
Many homeowners have started looking at other options such as selling their property to an investor or an investment company. If you have noticed a lot of investment companies have sprung up almost overnight. It seems that anyone who saw one of those late night infomercials is now doing real estate.
Well the question is, if you are considering calling an investment company how do you know who to call or if the place you are talking to can really do what they say they are going to do. After all, you do need to sell this house but you don’t want to create an even bigger problem by dealing with someone who is unprofessional or doesn’t know what they are doing. I get calls every week from people who have tried selling their property to a fly-by night investor only to discover that the guy couldn’t buy their house or worse won’t even return phone calls.
So here are a few simple steps that will help you to find the right investment company to sell your property to with the least amount of hassle.
1.Do they have any credentials…Does the company have any proof that they have ever purchased a house before. Are they a member of the Better Business Bureau? Do they have any letters from past sellers? How long have they been in business?
2.If they offer to pay cash for your house how long before they can close? A cash buyer investor should be able to buy your house in 7-15 days. If they need more time they may not have the cash to buy your house and only plan to try to resell it to a bigger investor. If they can’t sell it, they will just back out f the deal.
3. Do they explain the entire purchase process to you or do they just tell you to sign here. Some investors just want you to sign a contract without giving you details of what they plan to do. This is usually because they are hiding something.
4.Do they do anything to put back into the areas they buy in? Many investment companies do nothing to better the communities that they buy in. They put families that can’t afford the properties into houses and they lose the house which brings down the values in the area. To protect against this try to deal with investors that are local or near your area.
These tips should help you when you are selling to an investor and hopefully your sale will be a problem free transaction. Next week I will discuss what to look for when considering buying a house thru rent-to-own. Till then Good luck and God Bless and remember… If you have any questions about saving or selling your home or any topics on real estate that you would like to know more about please email me and I will answer your questions in this column.
Arthur V. Veal IV is the owner of We Buy Houses Home Services, a real estate investment company. They specialize in buying houses on terms. Buying on terms allows them to purchase houses and pay very near retail prices while still selling the house for a profit. His company boast a 73% success rate when helping sellers sell their property quickly and getting them a price they feel is fair. Find out more about there programs by visiting their site at http://www.sellonterms.com