Tens of thousands of real estate transactions take place every day. You might be tired of managing challenging tenants in a rental, or you may have fallen behind on your bills and can no longer afford your mortgage. Some people may simply want to upsize or downsize, depending on their family situation.
Whatever your reason for selling, you’ve likely wondered whether there’s a way to avoid those costly real estate fees homeowners often have to pay when selling through a real estate agent. Fortunately, there is. You may see the value in selling your house to a professional home buyer or investor in just four steps. By going over these four easy steps you will get a better sense of how to sell your home privately.
Step 1: Make Contact and Describe Your Property
Even though professional home buyers won’t buy every property they are offered, you won’t know whether yours meets their criteria unless you contact them and ask. You can phone or email to provide information on your property’s condition, any repairs it needs, bedrooms, bathrooms, garaging, and location. Providing detailed and relevant information about your property is essential, as it enables the private home buyer to offer a custom-tailored solution that aligns precisely with your needs and preferences.
At this stage, you can also ask about the process for receiving a cash offer and how long the entire process takes. The more questions you ask, the more faith and trust you can have in the professional home buyers you’re working with.
Step 2: Set Up an Appointment
If your home meets your chosen buyer’s criteria, they will likely request an appointment to see the property. This meeting gives them a chance to find out even more about your property and see it for themselves. If the home buyer requests pictures instead of scheduling an appointment, supplying an extensive set of images will greatly facilitate their understanding of the property, enhancing the overall communication and decision-making process.
As the viewing takes place, your chosen professional buyers are making sure your property meets their buying criteria.
Step 3: Receive a No-Obligation Cash Offer
Investors may provide you with a cash offer after viewing the property, comparing it to those in the area, and factoring in features such as bedrooms, bathrooms, maintenance, and repairs. Typically, this happens in the space of 24 hours.
There are no fees attached to this offer, which means what you receive is truly what you get. If you accept the offer, you can move on to step four.
Step 4: Contact Your Lawyer
After accepting the offer, you and the property buyer will use your own lawyers to confirm the deal and have it formally drawn up. You can then expect to receive money via wire transfer or bank draft in as little as seven business days or when it suits you to move out.
However, if you’re in a particular rush, some buyers may be able to work to your schedule. Most are more than happy to do whatever it takes to make the selling process as stress-free as possible for you.
Unlike when you sell through traditional avenues like with real estate agencies, you can simply pack up your possessions and leave. There’s no need to worry about cleaning, repairs, or even mowing the lawns. While there is nothing wrong with selling your home through a real estate agency, you may be surprised at how fast and easy it is to sell your house privately. In just four steps and a matter of days, you can be free of your property obligations without even needing to host an open home.