Are you wondering whether you should sell your Texas house to an investor?
Whether your local real estate market is red hot for sellers, or heavily favors buyers, selling your home to a cash buyer can be a great option. However, it does have some drawbacks.
Let’s take a look at some of the advantages and disadvantages of selling your Texas house to an investor.
What You’ll Learn in 5 Minutes:
Advantages of Selling Your Texas House to an Investor
PRO: Fast and Easy
When you sell your Texas house to an investor, you eliminate virtually all of the hassle and inconvenience that normally comes with selling a home.
Investors pay in cash, so there are no buyer banks or mortgage lenders involved. Everything is handled in one swift transaction, and it can happen in days – not weeks.
Local Cash Buyers can make you an offer within 24 hours, and can close in as few as 7 days. That means you could have your house sale done and dusted by this time next week!
Learn More: Why Homeowners Sell to Local Cash Buyers
PRO: No Fees, Commissions, or Closing Costs
Selling a house can be an expensive affair. You’ve got to worry about the costs of staging and upkeep throughout the process. When you finally do sell, there is a mountain of closing costs, such as title company fees, and commissions for the buyer’s and seller’s agents.
Many cash investors, including Local Cash Buyers, will pick up all closing costs. Local Cash Buyers takes no commission and has zero hidden fees. We take care of the title transfer and other paperwork. All you get from us is cash for your house!
Learn More: The True Costs of Selling a Home
PRO: Sell Your House As-Is, In Any Condition
Selling on the open market means bidders will be looking for any reason to reduce their offer. If there are obvious problems, like cracks from a shifting foundation, you can expect the best bids to creep downward.
When you sell your Texas house to an investor, like Local Cash Buyers, you don’t need to worry about making expensive repairs. We buy houses as-is, regardless of condition. Instead of toiling with the hassle and expense of making the house “perfect,” you can sell right now, without lifting a finger or spending a dime!
Learn More: Top 10 Home Repair Issues in Texas
Considerations Against Selling to an Investor
CON: No Competitive Bids
Because investors work quickly, you won’t have a chance to show your house to other potentially interested buyers. It’s possible you may miss out on another, higher offer that might have come in weeks later.
Here’s some reassuring news: if you contact Local Cash Buyers, we will make you a written, all-cash, no-obligation offer. That means you are free to explore other options, and sell to someone else, if you want. We will never pressure you to sell to us, and we may even offer to help connect you with a real estate agent if that’s a better option.
Learn More: Real Estate Agent vs. Broker
CON: Selling at a Discount
In order to make the sales process hassle-free and keep costs down, investors will offer a little bit less than you might get if you sell your house through an agent, with multiple bidders.
But even in a strong seller’s market, you could end up getting less than you hoped for. Plus, the longer it takes to sell, the more money you’ll spend on things like upkeep and carrying costs.
Learn More: What are Carrying Costs?
CON: Some “Investors” Are Actually Wholesalers
When you look to sell your home – especially if it’s not in ideal shape – you may be contacted by a buyer who claims to be an investor. Some of these buyers are actually middlemen for property investors, and they are called “wholesalers.”
A wholesaler won’t actually be buying the house from you. Instead, they will quote you a sale price. Then, they will ask you to sign an exclusive contract agreeing to sell the house exclusively through the wholesaler, for a fixed period. The wholesaler will then try to find an investor to fund the purchase.
If they can’t find an investor, the deal falls through. You’ll have lost precious time and money, when you could have already sold the house!
Before you sell to anyone, ask for references. Always read the entire sales agreement contract before you sign it. Ask questions! An honest cash buyer will be happy to explain anything that’s unclear.
Learn More: What is a Wholesaler?
The Decision is Yours
As you can see, there are a number of reasons to consider selling your Texas house to an investor. There are also circumstances in which an investor sale might not be the best option for you. Carefully weigh all your options, and determine your priorities, to ensure the best possible outcome.
If you need help, Local Cash Buyers is always a phone call away! It takes only a few minutes, and it’s completely free.
Take the Hassle Out of Selling Your Texas House.
Local Cash Buyers is your proven, trusted home selling solution. We’ve helped hundreds of Texas homeowners get peace of mind and a speedy sale of their homes. Contact us today to get a free, no-obligation estimate. You could have your house sold in as few as 7 days!