Buying a house is hard but finding the right buyer for your house is even harder. Finding the right buyer for your house, who is willing to pay the full amount that the house is listed for, is hectic and can take days? This is where real estate agents come in and offer to help you sell your house. But before you sell your house to a real estate agent, there are several things that should be considered first.
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Pros to selling your house to realtors
Real estate companies are not planning on moving into the houses they buy, so they care if the house is old-fashioned or has tacky interiors. As a matter of fact, most realtors look for houses that are out of style and old so that they can flip them. Buying the house as it is will come at a cheaper cost to realtors and flipping and updating the house can sell for a good profit return. So, it’s a win-win situation for both parties
Selling to investors also saves sellers the risk of not making a sale due to a lack of funds on the buyer’s end. Most of the times realtors will pay the seller the amount in cash. So, sellers can rid themselves of the worry that the buyer will first have to take time in coming up with the money. Before selling, however, it is best to ask the investors for their bank statements as proof that they have the funds to buy the property.
Realtors are mostly well-established people and selling your house to realtor’s means that you will be selling your house quicker as compared to a normal buyer. It’s better to sell the property to a real estate agent because if the house has been sitting on the market for too long, its market value starts decreasing. For quicker closing, it is best to sell to realtors.
Cons to selling your house to realtors
One of the setbacks to selling your house to a real estate investor is that you have no idea who will be actually buying the property and what will happen to it. Legally, real estate investors have no obligation to let the client know who will be buying their house. For all the seller could know, the property could be going to a shady landlord or a developer who wants to demolish the house altogether and build an apartment complex on the land.
Another issue with selling to realtors is that they will agree to buy the property for 20% and sometimes even 40% less than the actual market value of the property. The reason why realtors look to buy cheaper homes is that they have to resell them and are looking for a good profit. Since realtors do not disclose what will happen to the property, there is no way to know for sure what the house is worth. In this scenario, it’s best to hire a real estate agent who can help the seller determine what the property is worth before selling it to an investor. You can also get the idea from the Nova City Islamabad.
Selling to investors also comes with a list of scams. A common scam is where a person pretends to be a foreigner who is interested in buying the house and wants to close the deal right away. This investor will not be interested in seeing the house and will try to send an unsophisticated representative so buy the soon within a day or so. This representative will then give the seller a fraudulent check and disappear with the house’s paperwork. The best way to prevent this is to hire a real estate agent who works with realtors.
When approached by a realtor, it is common practice to hire a real estate agent who can verify the investor. Most times people just want to get the property off their hands and get scammed in the process. Before selling the house to anyone, it is best to research the house’s market value and do a background check on the investor. This way you can sell your house with ease and also be safe from real estate fraud.
