As homeowners who want to sell their home, should you be skeptical of selling your home to an investor? You can find these investors usually by the signs they place on the side of roadways stating " We Buy Houses". Here in Atlanta, especially my area of Cobb, Fulton and Cherokee County, GA, you could come across dozens of different real estate investors advertising that they can buy your home. So as a homeowner needing or wanting to sell quickly, should you call off these signs?
First of all, not all investors are created equal. This sounds like a no brainer but you must be careful who you are doing business with. For the most part though, investors are hard working, creative thinking individuals who really care about coming up with a solution to your real estate problems. Have them sit down with you face to face, ask them questions and make sure all contracts are in writing and a legal closing occurs.
Let's address those homeowners who are trying to sell their home through a short sale or behind on payments and want to sell. The first thing many homeowners do is call up a real estate agent and see if they can list their home for what is owed on it. BUT...in all likelihood that price is too high and will never sell. If a hardship is present, then a short sale is needed. All short sales begin with an offer and if no buyers are willing to wait out the process, you are no better off than before.
This is where dealing with a short sale investor in particular can be beneficial to you. The great thing about short sale investors is they have no emotional attachment to your house. It doesn't matter if it take 8 or 12 months to complete the short sale, they will remain patient in order to buy it. This is a huge point because many buyers get tired of waiting around and consequently never end up buying your home. Also, investors usually have a professional on their team that work directly with your lender(s) to approve a reduced payoff price. Having this key team member can mean the difference between selling your house and not. Unfortunately there are some agents out there who don't care to understand what it takes to sell a short sale listing.
Many investors will attempt to buy and sell your home on the same day. There is much debate as to whether that is legal and as a homeowner, you should be educated. If the investor is not using full disclosure to all parties in the transaction and I mean ALL parties, then it can be viewed as fraudulent. Do not do business with them.
So should you be skeptical of working with investors to buy your property. My answer, NO. We need to get away from the stereotype that investors are out to steal our homes. Deal with someone who is honest, ethical and understands the process thoroughly.
If you live in North Metro Atlanta, including Fulton, Cobb, and Cherokee County then I would be happy to talk to you about selling your home. I have a thorough understanding of buying, selling and listing short sale properties. Please contact me at 678-402-5701.
Eric Wanck is a short sale investor/real estate agent located in Atlanta, GA. He works with Nextage Peachtree Realty and specializes in helping homeowners and buyers through the short sale process. You can reach him at 678-402-5701 or contact him at http://activerain.com/atlshortsalepro/contact.
Interested in knowing more about Nextage Realty? Check out www.brokerageofthefuture.com. For More Great Short Sale Tips and Information Visit FreeShortSaleCourse.com
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