Pros and Cons of Buying From People Who Want to Sell House Fast

The best property deals are from those home sellers who want to sell house fast.

For whatever reason, there will be people who need the money right away and are just looking to jump at the first chance they get to sell their house. The only problem with these types of deals is that, even though the cost is low, if you’re looking for a potential fixer-upper, the costs of renovating and rehabilitating the property to the point of making profit might be too steep for you.

Of course, that’s not always the case. Some rush sellers do sell houses that can be sold for a higher profit as-is or with little renovations.

Most of the time, though, the house will be decrepit and/or distressed.

In such cases, what do you do? Are they still worth the investment? Or, are you better off looking for a different fixer-upper project?

Below, we discuss the pros and cons from buying properties from people who are rush selling their house.

Old abandoned green house with boarded up windows, a door in flat cartoon style. Isolated vector illustration on white background. Flat two-storey, double decker house, cottage with fence.

Pros of Buying a Distressed Property

1.    Low cost

Even if it’s located in a nice neighborhood and near a school, distressed properties won’t sell for a high price.

That’s where you come in.

The potential for huge profit is there if the property is located in an ideal location, surrounded by everything that families need, from schools to stores, and far from noisy or busy streets.

Because of the low cost and the potential for high profit, distressed properties make for a great investment.

2.    Better deals from lenders

Distressed properties can be an eyesore for entire neighborhoods.

If you’re interested in buying one, you might find lenders more than willing to help you out by giving you a better deal.

From lower interest rates and closing costs, to longer mortgage payments, lenders will be more than willing to help you out if you’re after a distressed property, regardless of whether you plan on selling it for profit eventually or just buying it to live on it.

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Cons of Buying a Distressed Property

1.    Competition

You’re not the only one who has an eye on that distressed property. You’ll most likely be competing with dozens of other home investors, all of which have just as much money to throw around as you do if not more.

If you’re looking for a very quick fixer-upper, distressed properties might not be for you.

2.    Maintenance and repair costs

Not all distressed properties are the same. However, one thing that most have in common is that they might not have been maintained for years if not decades.

That can present a huge problem for you.

Even if you managed to buy the distressed property, there will be problem areas that the previous homeowner might not even know about. In this case, it’s up to you, the new homeowner, to repair the damage, and depending on the extent, the costs of rehabilitating the property might not be enough to make it worth investing in.

Foundation issues, in particular, are a huge red flag, despite how low the cost of the distressed property is.

Get to Know the Fixer-Upper Game Better

Playing the real estate investing game isn’t easy, especially if you plan on investing in distressed properties.

If you have the time, money, energy, as well as finances, and most important of all, work ethic, to dedicate to learning how to make the most out of distressed properties, then you’ll end up with low-cost and high-profit investments.

If you don’t have any and all of those things, then you’re better off trying your luck with other “easier” real estate investments.

How to Sell House Fast – Tips for Selling a Fixer-Upper

Now that you’ve found your first fixer-upper project, you may be asking yourself, “how do I sell my house fast?”

After all, not everyone has disposable income. You’d like that money you sunk into the project to be recouped as soon as possible. But, that’s much easier said than done.

Even if your fix-and-flip investment looks like it’s ready to be featured on a magazine, selling it as a different story.

Remember, you’re not the only one who’s trying to make profit selling and flipping properties.

So, how do you do it?

1.    Take gorgeous photos of your property

You’d be surprised as to how much more responsive people can and will be if you can use high-quality photos when you have your property listed.

Higher-quality images, especially those done by professionals, highlight the best features of the house while minimizing the less glamorous ones in ways that an amateur like you could. From the crown moulding to the spacious backyard, and even granite countertops, all of these will be seen and featured prominently in professional shots.

Professional photographers also know how to make smaller spaces look bigger, giving off the illusion of grandeur and luxury.

2.    Be on social media

Listing with a real estate agent is no longer the only way to sell properties these days. You can do it yourself by going online.

Social media websites are prime resources for buyers and sellers alike. You’ll find plenty of interested home buyers scouring social media for potential deals, especially families who want to move to a bigger house or their first house.

Make sure that you show off your fixer-upper’s photos on all of your social media accounts.

Facebook and Instagram, especially are helpful with this. You can share your property there and ask your friends, as well as family members, to spread the word as well.

3.    Put up an in-depth video walkthrough of the house

Put together a video of the house as if you were showing someone the entire property.

These days, video walkthroughs have become integral to the home buying and selling process. You’ll need it to compete. More importantly, you’ll need it so that prospective buyers will get to see everything there is to know about the house with their very eyes.

If you can afford it, a virtual reality tour might even be a good idea.

Perhaps the best part about video walkthroughs is that they they make personal tours less of a necessity. This will save you a lot of time. Also, the videos make it easier to reach out to potential and interested buyers who might not be from nearby areas.

4.    Set up your own blog

If this is your first fixer-upper, this most likely won’t be your last.

This is why setting up your own blog is a great idea. This way, you have your own channel to market your properties in. Paired with social media presence, as well as YouTube, you’ll be selling fixer-uppers in no time.

Blogs also give you better credibility and a way to reach out to your audience in a more personal way.

If you don’t want to put up a blog, or can’t afford it, then at least create a website or page dedicated for your listing. This way, you have a complete description of your property that any interested buyer can access any time.

Sell House Fast Using These Tips

Selling a fixer-upper isn’t easy, but there’s a reason why investment homes are starting to attract more and more people – there’s a lot of profit to be had if you do it right.

By implementing the tips we gave above, you can make sure that you sell your fixer-upper fast.

Four Secrets to Sell House Fast the Right Way

Do you want to know the secret to sell house fast?

Who wouldn’t, right?

Real estate investments are great and all, but sometimes, you just need cash immediately, and the potential payday for your property if you’d just put off on the sale for a couple of years.

With that said, selling fast doesn’t always mean selling low.

While it’s true that wanting to sell a house as early as possible requires you to make a couple of adjustments, there are ways to ensure that you get a good deal.

How?

Sell House Fast Using the Internet

This sounds simple, and it is, but it’s also very effective.

The internet is one of the most useful resources that any home seller can have. Online, you can put up your property for sale, send emails to potential buyers, and from there, you can gather information and cold call or send text messages, all in the name of casting a very wide net, or so to speak.

Don’t Sell to a Real Estate Agent

If you want your property to sell fast, don’t sell it to a real estate agent.

Real estate agents will promise you the moon and stars just to get your house listed with them. It is their job, after all. But, as much as real estate agents make money faster if your house is sold fast, they’d very much prefer a larger payday at the expense of your house selling a bit later than you’d like.

They won’t tell you this upfront, but it’s the truth.

Now, speaking of the truth, being honest is key to getting your house sold to a direct buyer fast. Tell them everything there is to know about your house, including things that you may be tempted to lie about or repairs that you are unsure of.

Being honest and true to your world will have a big effect on whether or not the buyer feels like they’re getting a good deal on your property or not.

Don’t Give Up

Persistence is key to selling.

It doesn’t matter if you’ve called 499 potential direct buyers. Don’t let that get your hopes down. Because, who knows? That 500th home buyer might close the deal with you – you’ll never know.

Remember, selling is a numbers game.

The more people you sell your house to, the more likely it will sell.

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Sell to a cash buyer

Cash buyers have a bit of an undeserved reputation as people who undercut desperate home sellers only to sell their properties at a premium later on.

That’s not entirely true.

Yes, cash buyers might not buy houses for as much as what they would go for listed. But, you’d have to consider the other costs involved in listing as well. The real estate agent fees for both parties alone could take up thousands of dollars already, depending on the value of your property. However, if you sell it to a cash buyer, there are no more fees involved.

That’s not all. The process is also very simple. You don’t even need to do anything outside of letting them know that your property is up for sale and you’d like to feel out a couple of offers from it. Because you are not obligated to accept the cash buyer’s offer, the worst thing that can happen is you find their offer too small for your taste.

We know that selling a house isn’t easy. At the same time, it shouldn’t be as hard as you think it is as well.

So, if it’s for an emergency, or you just don’t want to deal with your property anymore for some legitimate and available reason, do remember that you always have a way to find a good deal even if you’re looking to sell your house as soon as possible.

Why It’s Not a Good Idea to Sell Your Home to a Cash Buyer

Handing Over Cash For House in Front of Beautiful New Home.

There are many ways that you can sell your house and get fair compensation for it. The traditional way is to work with a real estate agent. The other more common options is to sell it yourself. The least traditional, but one that’s gaining a bit more traction in recent years, is selling your house to a cash buyer, otherwise also known as real estate investors.

Each way of selling a property comes with its own set of pros and cons. However, when it comes to selling your home to a real estate investor, it’s important that you know what you are getting yourself into.

The reason for this is that, there are plenty of homeowners who have found themselves blindsided by a bad deal that was initially presented as a good deal by a cash buyer.

Why? Because, unlike with real estate agents, who had to take the necessary exams and certifications to receive their license, real estate investors can come from anywhere.

So long as someone has money (or can pretend that they have money), they can say that they are real estate investors and none would be the wiser. In fact, some cash buyers are like that. They pretend that they have a lot of money, and most really do, but it mostly comes from scamming their clients into taking deals that are not in their best interests.

Luckily, Cash Buyer New Jersey are not those types of investors.

Just like every other real estate investor, we buy houses NJ for cash. But, that’s not all. We also have the skills and expertise to help you. It doesn’t matter what your real estate situation is, we now how to get you out of it with fair compensation. Plus, we have an excellent track record to back up our claims.

How Do You Know If a Real Estate Investor Is Legitimate?

A website should be your number one priority when doing a background check on a real estate investor. Do they have one? If so, what kind of information can you find on their website? Does it look like it was made by a professional? Does it look professional? Do they have testimonials of previous clients that you can follow-up on in case you wanted to know more about how their transaction went?

If it’s a yes to all of those, then good. That’s step one.

The next thing you do is then to call their office and assess how they handle your inquiry.

Are they respectful? Do they sound like they know what they’re talking about? Do they take their time explaining how the process works? Are they willing to give you a no-obligation, zero-fee offer?

If the answer to all of these questions is a resounding yes, then you’ve found yourself the right real estate investor.

Yes, anyone may be able to become a real estate investor, but it takes a real company to actually build a client-base that has nothing but good things to say about them.

If you do your research, you’ll find the answer to your question, “how do I sell my house fast?” and find a real estate investor who has your best interests in mind and will stop at nothing to get you the fair compensation that you deserve for your property.

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