24 Jan Thinking of Selling To A Dallas Real Estate Investor?
Are You Thinking of Selling Your House To A Dallas Real Estate Investor?
There are lots of reasons you might consider selling your house your house to a Dallas Real Estate Investor. You might be in a situation where you need to sell your house fast. Perhaps, you need to sell your house as is because you’re unable to make the repairs or updates required to get top dollar. You have numerous options when choosing a an investor to buy your house. If you can prescreen potential buyers, you’ll prevent delays, renegotiations, and a lot of headaches. If you want to sell your house, call us at 214-444-9385 or complete our Quick Response Form. We’re here to help!
3 Questions to Ask When Selling Your House To A Dallas Real Estate Investor:
- Are you local? Local Dallas Real Estate Investors will have a better comprehension of your local market compared to someone who offers to buy your house from halfway across the country. They’ll understand that home values on your particular street might be higher than the value a block away. There are nuances to consider when evaluating homes that can be missed or overlooked unless someone actually drives through your neighborhood.
- How long have you been a Real Estate Investor? While it isn’t necessary to only deal with someone who’s remodeled hundreds of houses, I strongly recommend selling to an investor with enough experience to be proficient at evaluating repair costs and market values. Just because someone offers you the most for your house, doesn’t mean they’ll be able to honor the offer. Often times, inexperienced investors will back out of the contract last minute once they discover their numbers were wrong.
- What kind of funding do you use? There are numerous methods to fund an investment property and each one has pros and cons.
Bank Loan- Sometimes, investors use traditional mortgages to buy houses. The low interest rates make this method particularly attractive. However, if an investor plans to use a traditional bank loan, there’s a possibility the loan will be denied due to inspection items or code violations. In addition, banks take approximately 30 days to close which won’t necessarily work if you need to sell your house fast.
Hard Money Loan-Hard Money Loans are as almost as cash with one exception. These loans typically require an appraisal. The appraisals tend to be extremely conservative in order to protect the lender’s interest. This will limit the amount that an investor can bring to the table. Closing can typically occur within 7-10 days.
Private Money Lender-Just a good as cash. The investor will only require lender approval to close on the property. Closing can occur within 5-10 business days.
Personal Cash- Cash buyers are ideal when you need to sell your house fast. Unfortunately, it is extremely unusual for an individual to have over $75,000 in liquid assets at any given point so be prepared for especially low offers.
Find Trustworthy Dallas Real Estate Investors
As you can see, not all investors are created equal and it’s important to know who your dealing with when selling your house. Additionally, you may ask the investor for previous seller references or the names of investment professionals with whom they’ve worked in the past. You’ll want to work with a Dallas Real Estate investor who has a good reputation with others in real estate and unethical individuals are quickly discovered by others in the industry. If you ask the questions in this article, you’ll have good idea of what to expect and who you can trust.
If you want to sell your house, call us at 214-444-9385 or complete our Quick Response Form. We’re here to help!
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