Do you need to sell your Georgia house, but you’re worried that your house is too worn out for people to be interested in? Think again because many people find “gold” even amongst severely damaged properties. Although you can expect that your home value might not be as decent as your better-shaped comps, still, selling it fast is not as impossible as you think.
Between selling on the market and off the market, you can actually do either no matter the condition of your house, and the chances are more or less the same. But if you are looking to sell your house for cash, you have better chances if you specifically look for investor buyers.
Investor buyers are people who are looking for houses that they could either fix, renovate, or just sell right away to another buyer at a higher price. These people close faster than retail buyers because they know how time is absolutely important in an investment. So if you think your house is better sold to an investor buyer, here are some types of investor buyers that you can search for:
House Flippers are people who buy homes, renovate them, then sell them for a profit. Many investors engage in fix & flips because the gross profit is relatively high. In fact, the average gross profit of fix & flips in 2020 was more than twice the average profit observed during the 2008 real estate market crash. Moreover, more and more banks have been welcoming fix & flip loans again, encouraging budding house flippers. So if your house is a great upper-fixer, you can expect that house flippers will comprise the majority of your prospective buyers.
Wholesale contractors are people who help you sell the house to a buyer. Wholesale contractors are similar to real estate agents in the sense that they work as a middleman. Unlike real estate agents, wholesale contractors are not licensed, but they typically have a lower commission price — that’s why some people go with them. Instead of a hefty commission price, the wholesale contractor receives an “assignment fee,” which you can negotiate upon.
Real estate wholesaling is popular among new real estate investors. This is because they don’t have to finance the project to earn profit from it. So if a wholesaler expresses interest in your home, make sure that he/she knows the process well.
Property developers are big companies that convert a property into a lucrative space. If your house sits on vast land, a property developer may find profit in it. But of course, if the land isn’t in your name, you best speak with the owner first before looking for a prospective property developer. Moreover, if your location is great, you may be able to negotiate for a higher asking price.
When you deal with property developers, we also suggest tapping the services of a lawyer. This is because you need someone on your side to ensure that you are not being scammed.
There are a lot of non-government organizations that need a permanent home. You don’t have to look for internationally-renowned ones, but you can start looking for local groups that are either operating or planning to operate in your area. You can search for NGOs online and message them individually to see if they are interested or talk to your friends and family if they know of one.
Selling to an NGO is ideal for someone who doesn’t need the house’s equity right away. This is because some groups might not have enough funds to buy an entire property in cash. So if you are interested in selling to these groups, be flexible with your terms if you can.
There are plenty of aspiring landlords out there who don’t have a property in their name. Rentals are attractive for investors because they are investments that can give you regular passive income for the long run. Plus, you don’t have to worry about fixing your house before selling because your prospective landlord-buyer can always get a renovation loan.
You’ll most likely find this type of buyer within your area — perhaps your neighbor or someone who lives within the same county. This is because landlords typically want to be near their rentals, so it would be easier for them to manage.
Spire Home Buyers
Spire Home Buyers is your local professional home buyer. We buy houses around the Peach State for cash, and we can close in fast as seven (7) days. If you don’t want to go through the trouble of researching for the investors mentioned above, you can get in touch with us any time. We can craft an initial offer within 24 hours after you tell us about your house. And we take care of the closing too!
If you want to have a more hassle-free selling process, contact us today at (678) 318 1801 or fill-up the form below.