Is this a scam? | Selling Your House Fast
I hear this a lot from people who call me interested in selling their house. And I understand their disbelief. It sounds too good to be true. Some one is offering to pay cash for a house. And on top of that can pay for it in less than 2 weeks. Obviously it’s a scam because that’s not how people sell houses. Where’s the realtor? What about the for sale sign in the front yard? Where are the dozens of strangers walking through the house to see if they might buy it? Don’t you need to get a loan from a bank to buy it? But the reality is that a homeowner can sell a house without the hassle of listing it for sale through a realtor.
Take a look at what I mean, press play!
I’m not saying that selling a house through a realtor is a bad thing. My wife is a realtor and I know that sometimes selling through a realtor is the best option for a homeowner. But there are times when it does make sense for a homeowner to sell their property directly to an investor. Let’s look at a few of the situations where this makes sense.
Bad Tenants – Lets say a person owns a rental property. The tenant is constantly late paying their rent. Or they call the owner at all hours of the day complaining about something. Sometimes tenants can be engaged in criminal activity in the house. From breaking zoning laws by operating a car repair business on the property to selling drugs from out of the house. And who do you think will be left to clean up the mess leftover from those tenants? The property owner! The owner can get the money they invested back from the property y selling it to an investor who will buy the owners problem from them!
Ugly Houses – This is a term that is common among investors. An ugly house is a way of describing a house that needs lots of repairs. For what ever reasons the things that needed to be repaired on a house were put off to a later date. And over time the list of repairs has grown along with the amount of money needed to fix them! This is a scenario real estate investors love! They can buy the house and make the repairs the owner don’t want to make themselves.
Foreclosure/Financial Distress – This is a tough one. A homeowner can fall on hard times. The cost of owning a house becomes more than the homeowner can afford. When payments on the mortgage are missed the lender will file a notice of default against the property. That is a public declaration the homeowner isn’t paying on the loan. If the homeowner doesn’t get caught up on the missed payments the house is put into foreclosure . This means the bank is going to have the house sold at an auction in order to get the money owed on the loan. When a homeowner has run out of options then a real estate investor can help them avoid foreclosure and if done right even repair the homeowners credit and get them some money for their house!
There are many different reasons a homeowner can benefit by selling directly to a real estate investor. And it can all be done between the seller and the investor. No 3rd parties needed. Please don’t tell me wife I told you this!