Thank you Sondra Meyer: for your original blog.
Have you ever seen those signs that say, "We Buy Ugly Houses?" Have you actually found yourself tempted to call them? If so, I will assume that you are concerned that your house will not sell because it needs a lot of work.
You find yourself to be very tempted to call the number on those signs. You might even be tempted to see if you can sell your house to one of those companies, such as Zillow, that says that can make a cash offer to buy your house without even seeing it first.
You might be unsure of exactly how the real estate sales process works in the area where your house is located. I understand that a company that can make selling a house fast and painless, has a certain appeal.
However, I am going to suggest that you call at least one experienced real estate agent to come out and look at your house. Despite what you might read in the media and online, the vast majority of Realtor's are good, trusty worthy, hard working people. that would be more than willing to help you sell your house for the best price in the time frame that you are hoping for.
3 reasons why you should ask a Realtor to come out and look at your house even if it is ugly.
1. The Realtor is not going to charge you anything to come out and look at your house. You will get a free consultation. This free consultation can potentially save you a LOT of money and/or heart aches.
2. There is always a chance that the house is not as ugly as you think it is.
Sometimes when we worry about stuff, we start feeling like things are worse than they are. The Realtor may be able to make some suggestions that would make your house look better.
Realtor is also going to be able to give you a good idea of how he/she thinks your house would sell if you fixed it up a little bit or if you sold it as is. A Realtor can explain how the real estate sells process works in your area.
3. If your house really does have some issues, a qualified real estate agent can help you decide the best way to proceed.
At this point in time, there are currently two major groups of buyers competing for homes. There can be cash buyers in both groups.
1) People that want to live in the home.
In many places across the US, to include the Colorado Springs area, it is not uncommon for a well priced home to get multiple offers. This makes it an extremely tough environment for investors. As result, the investors are trying to reach you, the homeowner, BEFORE you list the house with a real estate agent and put it on the MLS.
There are currently a BUNCH of investors out there. They range from small, new, investors to the large investors with millions of dollars to spend and everything in between. There is a relatively new group that are often referred to as iBuyers. They seem to be very well funded companies that try to use technology to get to make offers to sellers before others get a chance. For example, Zillow and Opendoor are two of the best know iBuyers at the moment.
If you call a real estate agent for a consultation, that person can help you decide if you want to solicit offers from one or more institutional investor buyers. Or, maybe it would be better to sell it by putting it on the MLS.
Some I-Buyer offers may be so low or have such high convenience fees they charge that the decision may not require a lot thought on your part. Other times, it might be helpful if a Realtor can prepare a net sheet comparison chart .
A Realtor can help you try to find iBuyers or other investors if that is what you really want. Just know that selllers with fix it uppers typically sell for considerably less money in exchange for the convenience of a fast cash sale. The investor needs to get the house cheap enough that they can can fix it and sell it for a profit that is big enough for them to earn a living.
If you choose to consider an ibuyer or other investor that insists on contracts their attorney prepared, I would also highly recommend that you plan on having a real estate attorney look a the paperwork PRIOR to signing anything.
Conclusion: Please remember that as a seller, you currently have numerous options to sell you home even if it is a ugly house. A Realtor can help you get the most money possible whether it is from the investor types or regular home buyers.
Be sure to ask lots of questions.