Jul
06

ADVANTAGES OF SELLING TO AN INVESTOR

By

You have decided to sell your home.  Assuming that you have ruled out becoming a landlord, you now have two options:  Retail or Wholesale.  At DFW Problem House Buyer we buy houses fast; hence the wholesale route.  At Specialized Brokerage Services we assist with the navigation of the retail transaction, which is described in detail below.

No question that the retail sale to an owner occupant purchaser will net the most money for you.  There is, however, a price to be paid.

First- You must keep your home show ready.  In the good old days I used to tell my sellers to make the house look like President and Mrs. Reagan were coming to dinner.  For some this required very little effort.  For others it was a major undertaking.

Second- Most of your showings will occur at the most inopportune times…evenings and weekends.  Sorry, if you want to sell the house you must let prospective buyers see it.

Third- All of the real estate agents, except maybe your listing agent, are working for the buyer.  This means that in most cases the offers that you receive will not have been written by someone who is endeavoring to obtain the highest price and best terms for you.  In fact, quite the opposite is true.  There is enough to be written about solid contract terms for another entire article; so I’ll save that for later.  Meanwhile, if you need to sell your home via the retail route, and need an extremely experienced agent to assist, please call me!

Fourth- You finally negotiate a deal with a buyer.  In your mind the house is sold.  Chances are that is not what the contract says.  If your contract contains a Right to Terminate (for the buyer); you can expect the buyer to come back for a second bite at the apple.  This may be in the form of a price reduction from the already negotiated price, or other concessions from you the seller.  These demands are usually forthcoming on the day before the last day that the buyer has the right to terminate.  Thus, there is an implied threat that if you (seller) do not cave to the buyer’s demands, that the buyer will exercise their right to terminate; and you will have to start all over.  Most retail agents think that this is just a normal part of the process.  I disagree.

Fifth- Let’s assume that you made it past the option period.  The lender will now order the appraisal.  If your listing agent did their job, and priced your house properly, then no problem.  However, if your listing agent did not do their job; you can count on the appraiser to call the error to everyone’s attention.  Today more appraisals are subject to review than ever before.  Consequently the tendency of the appraiser is to actually appraise the property rather than simply write a report that supports the contract price.

Sixth- Let’s assume that you have a great listing agent who priced your house right and who helped you to negotiate a solid contract.  Your house appraised for value.  Now it’s time for the lender to do their job- which is to close the transaction on time.  There are two schools of lenders:

A-    Committed to never, ever missing a closing date and will do whatever it takes to make the closing happen on time.

B-    Recognizes the closing date.  They will surely try, and if the moon and stars line up just just right, then the deal will close on time.  If not; then you can expect the lender to start reading  from their favorite book entitled “The Litany of Excuses”.

Most retail transactions do ultimately close; and most with varying degrees of drama along the way.  If you are contemplating the sale of your home via the traditional retail route, and you recognize the benefit of having a seasoned pro on your team; I would be delighted to assist you.

On the other hand, if you would like to enter into a simple agreement with a buyer who will buy your house in its present condition, for an agreed upon price, with the closing to occur on a agreed upon date; with none of the drama and shenanigans associated with the retail transaction; call me.  We buy houses fast… for cash.

In a nutshell:

Retail- A little more money.  A lot more hassle

Wholesale- A little less money, no hassle.

I would be happy to do business with you as a wholesale or retail customer.  Take your pick. So when you are looking for someone to help……. remember “we buy houses fast”, please give me a call at 469-774-6655.

Mike Brendel
Your DFW Problem House Buyer

Problem House Buyer

Categories : Market Info

Comments are closed.

DFW Problem House Buyer buys problem homes for cash, whether it’s due to divorce, inheritance, a problem rental, poor condition, or any other life circumstance that requires you to liquidate a home fast for cash. DFW Problem House Buyer offers “As Is” Cash Purchases, Specialized Brokerage Services, and/or Guaranteed Sales Plans. DFW Problem House Buyer serves Denton, Tarrant, Dallas, and Collin counties, including but not limited to: Fort Worth, Arlington, Hurst, Euless, Bedford, North Richland Hills, Colleyville, Grapevine, Trophy Club, Keller, Roanoke, Argyle, Robson Ranch, Grand Prairie, Mansfield, Dallas, Richardson, Garland, Mesquite, Plano, Frisco, McKinney, Allen, Denton, Corinth, Carrollton, Lewisville, Highland Village, and Flower Mound. © 2013 DFWProblemHouseBuyer.com. All Rights Reserved.