Our homes are one of the most important investments that we make. Normally when we move into a new property, we have big plans for it. We put a lot of time and energy into our homes, and we don’t normally envisage moving out of them fast.
But life happens. Sometimes, you have some bad luck, and that dream home becomes a financial burden that you can no longer handle. Or, hopefully, life is going extremely well, and we get offered a great new job in a new city.
Either way, it means selling up and moving on. Whether you need to downsize, or you don’t want to have to pay two mortgages, you’ll be wanting to make a quick sale. In this post, we’ll look at selling your home to an investment firm and weigh up the pros and cons.
If you need the money fast, it doesn’t really get much quicker than this. You’ll contact the company, they’ll come through and do an inspection, and then they’ll make you an offer. If you decide to go ahead, you can expect the sale to go through in a few weeks.
You won’t have to pay an estate agent’s commission, so there is a slight reduction in the costs associated with this kind of sale.
Unlike the many “Sell home cash Portland” companies that exist in Portland who get into a purchase contract for a house, mark up the price and then try to sell the contract to another investor. One renowned name is PDX Renovations who always purchases with the intention of overseeing the renovation and selling to an end user. This allows us to cut out the middleman and pay you top dollar for your home.
You would probably get a better price if you sold it in the normal manner. People that are running an investment business want to be able to get a great return. They are not necessarily going to offer you full market value.
You won’t have to do any cleanups or repairs, but they will still take the condition of the house into consideration before making an offer. The more work that needs to be done, the less you’ll get.
Is it a Good Solution For Me?
This can be a good option for you if:
- You need cash in a hurry
- There are repairs that need to be done, but you don’t have the money
- You don’t want to waste time with estate agents and having people coming around
- You’re not too fussed about getting the very best price possible
- You need to sell fast
- You’re not mortgaged to the hilt, or, if you are, there’s a possibility that the bank will foreclose
- The property has increased in value a fair amount
- You have a fair amount of value in the property
It’s not the best option if:
- You can wait a while before selling
- Your mortgage is higher than the value – if it is, you’ll need the bank’s permission to sell it short and will still need to repay any remaining balance
- You want the best possible price
Sometimes we just cannot afford to wait for the perfect buyer. Sometimes we need the option of having that cash in hand. In these instances, it may make sense to make a quick sale rather than putting extra strain on your finances.
Selling to an investment firm is a quick, guaranteed sale. It might not be at the kind of price that you were hoping for, but it could be worth considering.