Many people are aware of this fact. However, many of these same people don’t know the process of selling to an investor that buys distressed houses to either rent or flip. Therefore, they typically end up selling their houses conventionally through realtors, and in the process, throw money out the window and waste alot of time.
So how do you sell your house to an investor?
Let me show you.
First, you need to contact a real estate investor that you would feel comfortable doing business with. You can find investors phone numbers on bandit signs that you may see that say things like, “We Buy Houses” and similar signs. You may also see similar advertisements in classified ads and online. As a matter of fact, the most reputable companies to work with typically come up on the first page of google when you type in something like, “Sell My House Fast” or something similar.
*If you want to check this out, you can try it now, and let me know what ranking you see www.HoustonCapitalHomeBuyers.com come up. Also, most real estate investment companies use social media so it would be easy enough to find a way to get in touch with them.
Once you have initiated contact with the investor, tell them about the house you’re selling. How many bedrooms, how many bathrooms, when was it built, what is the build type, does it need repairs, why you’re selling it, how much are you selling the house for, etc.
After the initial contact with the investor, if they show interest, what happens next is getting the comparative market analysis (CMA) of the property. The reason behind this is to know whether the house has profit potential as far as the investor is concerned. This is especially true for houses being sold as is that need plenty of work and repairs before they can be sold full retail.
As soon as it is determined that your house is a viable deal, the investor will schedule an appointment with you to see the house and confirm everything you said over the phone. This is a make or break situation because as soon as the investor sees something about the house that affects it’s sellability that you failed to disclose, the deal could possibly end right there, or you would have to re-negotiate again.
Seeing the property in person is also the investor’s opportunity to size up the house and make estimates for possible repairs and improvements. Be as helpful as you can to the investor at this point because this is the part where they’ll decide whether to push through with the deal or not.
Lastly, you want to establish two main things before signing a contract with a real estate investment company:
2. Ability to close
The easiest way to quickly verify credibility is to find out if they are in good standing with the Better Business Bureau (BBB). Some companies aren’t even members of the BBB, so proceed with caution there.
Also, another critical question to ask is if the investor that you’re working with going to actually buy the home through his company, or are the ‘wholesaling’ it to another investor? Believe it or not, this is the case in most instances. But not at Houston Capital Home Buyers, we buy the homes that we put under contract, unlike many of our competitors. *As a matter of fact, many of our competitors call us to buy the homes they put under contract.
To find out more about how to sell your house to a Houston home buyer, call us at 713-581-9075 and we’ll be happy to answer all your questions and possibly do business with you.
All the best,
Houston Capital Home Buyers
“We Don’t Buy Every House, But We Help Every Client”