What are the puzzle pieces for anyone who is considering selling their house or land to an investor?
What is the process when you get one of those "letters" in the mail? That is becoming very common around this area. We in the Floresville TX area are in a hot market for homes and land. Both are flying out the door.
And land sales are scarce. So many investors are sending out mail pieces trying to buy up land. Personally we have gotten about 5 for our house but we are also getting them for the farm land that we own. One of my clients purchased a subdivision lot a few months ago. We found it by writing letters to the owners and one owner was ready to sell.
They had been shopping for houses and could not find one to suit their taste so decided to build. So we started the process of trying to find them a lot. So now that we have closed on that lot, she is getting mail almost daily asking if she wants to sell. The funniest one was yesterday. They paid market price for their 2 acre lot and the offer was for $5,200. Not one of the offers is close to what they paid at market price. The same size lot in the same subdividion came on MLS last week and was under contract in less than a week for $30k over market value. Seller priced it there and it is already under contract.
So if you are considering selling to an investor vs using an agent for a retail market sale, just know that an investor is looking to make a profit and the price they offer will be much lower for that margin to be able to sell and pay their costs.
If approached by an investor and you are considering talking to that investor, at least speak to an agent to get a value of the market value of your property. Some agents like our company's agents do both. They are agents and they are investors so they know what route will put the most money in your pocket and what the time frame might be to sell. Then you are armed with a decision to sell to an investor to sell quickly or put your property on market for the most money and still sell in a time frame that works for you.
While we are country living and do not have some of the newest things that the larger cities have there is an article by Mary Thompson: Offer pad & Open door: How are they affecting the market?
and Jordan Ayan: Have you seen an Open Door closing statement ..
The link to Open Door's "transparent" pricing: Open Door's pricing
Note the fine print: " Beginning on September 30, 2020, for new offers, Opendoor’s service charge will be no more than 5%. Service charge is subject to change, and has historically been as high as 14%."
PLEASE speak to the traditional agent before you sell or list with one of the discount companies and compare fees. You will be surprised and not shocked when you go to the closing table.
#FloresvilleRealEstateAgent where it is #countrylivingwithcityconvenience.
So anyone shopping for land or homes for sale in Floresville, TX, I would be glad to help.