Why Sell My House To An Investor In Utica?
Hey guys this is Cameron Stewart with Fast Cash Home Buyers and I get a question quite often from a lot of my clients asking why sell my house to an investor in Utica? So today we’re going to go over a couple reasons as to why my clients have chosen me in the past, and what I can offer.
All right folks so really good question. Why should you sell your house to an investor rather than putting it on the market? Well first thing I will tell you is that I’m bluntly honest with people. I am not the best option for some people and I’ll be happy to tell you that if that is the case. I’m looking for a particular home, I’m not looking for retail ready homes.
You know. as an investor my goal is to make money when I purchase real estate. I’m not looking to live there okay. So whether that means I’m looking to purchase a property and and fix it up and sell it as a flip, or possibly put tenants in and i’m looking to make money with that. If you have a house that is retail ready and is ready to sell close to top market value, then i’m probably, almost definitely, not the best option for you as an investor.
But there are some things that I can offer and these are the things that my clients have ultimately chosen me as to what I can offer over someone else.
So number one, the process is relatively quick compared to traditional real estate. With traditional real estate, you’re going to put your house on the market, you’re going to wait for an offer, there’s a lot of time involved in that, and then you’re going to close. You’re going to largely depend on a bank to control the closing process, and then nitpick everything. You know we’ve closed properties, two last year actually, in under 30 days. 29 days actually and 30 days the other one, and that’s from the day we put the contract in place to the day the seller was paid. That is not highly likely okay. I will tell you generally you’re looking at 45 days sometimes even 60 to close. We’re very rarely at 60 days however, so we can close quicker than most people because we are buying the house ourselves.
Another reason is lack of banks being involved. One thing that ties up the process in traditional real estate is the fact that a traditional bank is lending money to the buyer to buy the house. Because of that, they take a lot of precaution. They’re going to order an inspection. They’re going to order an appraisal. They’re going to order a lot of different things, and that’s what takes so long. In our situation, don’t get me wrong we utilize banks that you know we don’t myself and some of my partners we don’t just have you know millions of dollars lying around. We leverage banks, we leverage money from banks. But what we don’t do is leverage money from banks in terms of mortgages, okay. It’s more like a personal loan. We’ve already got the money squared away, a line of credit, for example. We’re ready to purchase. So even though there’s a bank involved in our case, it’s as simple as going to get the money. There’s no approval process from the bank. The money’s already there. So lack of banks being involved in the process puts a lot of my my clients and my customers at ease and it possibly could put you at ease as well.
Another thing is you don’t need to do repairs. So most of the homes that i purchase, almost all of the homes that I purchase as an investor, need some sort of repairs. These can range from foundational issues, roof issues, something serious like that, or maybe a little bit more in the middle like a bathroom rehab or a kitchen rehab. Those are a lot of money, and a pain in the butt most times, so sometimes just a little bit of cosmetic work and you don’t have to do that if you sell to an investor like me. I’m looking to actually add value in the home any way I can so it’s actually more enticing for an investor like myself to purchase a home that that needs a decent amount of work because we can assume the value in the equity in that home when we do that. So not needing to do repairs is a big plus, is a big pro for my clients.
And lastly, no closing costs or commissions. So we’re buying the house so there’s no commissions. You’re not selling it to anyone other than us okay. We’re not listing your home on the market or anything and we’re going to pay all the closing costs. That’s one of the huge benefits that I should say at least myself as an investor offer to to my clients which is to take care of all the closing costs. If you have back taxes on it, listen we’ll work that into the price. I’ll take care of that, no need for you to. We will set you up with a reputable attorney. I work with a particular attorney locally here, that I do most of my business with. However I do have two other attorneys that i’ve worked with before and I trust. I’ll never steer someone to use my particular attorney. However my attorneys are very good at what they do, and they get things done quickly which allows me to operate as quickly as I can and sometimes close on places in less than 30 days. But I will pay closing costs okay. And that is generally a big thing for my clients who wind up choosing me and selling their house to an investor like myself.
So guys once again this is Cameron Stewart with Fast Cash Home Buyers here in the Utica/Rome area. We’re buying houses in Utica, buying houses in Watertown and Syracuse as well. If you’re interested in selling your house to an investor like myself, or you just have some questions, feel free to call me at 315-351-2772, that’s my phone number. Log on to www.fastcashhomesny.com on our website. Otherwise i’ll talk to you guys soon!