Most folks have seen ads around town like “We Buy Houses” or “Sell Your House Fast,” but many homeowners have never actually dealt with a Real Estate investor or investment company of real cash buyers in Jacksonville, FL.
In this post, we’ll give you some great info on what to expect if you’re thinking of giving it a try.
1. The investor will usually want to get some basic information over the phone, or online, before actually coming to see it.
Investors can get a lot of calls of potential deals, so this makes sense because they could easily burn up their entire day (and a half a tank of gas!) seeing properties before even knowing if if it might be a good deal for them. It’s smart to be prepared to provide as much info as you are comfortable giving. Sometimes the investor may have an assistant who answers the phone and fills out the information. Tthe more details they can give their boss then the quicker he or she can determine if your property is one they can buy!
2. The company who buys houses will need a little time, usually less than 24 hours, to research the neighborhood and comparable sales in the area to determine their ballpark offer price.
3. They will usually call you back and give you a ballpark estimate of what they think they may be able to pay you for the property.
This saves both parties time and lets you decide if you are in the right price range or if the terms are something you may be agreeable to as the seller.
4. If it seems like your house is a potential fit for both you, the seller, and the investor, they will usually then come out and see the property.
They may bring their contractor with them if it needs repairs so they can be a little more confident they are making a wise purchase. They’ll want to check the structure, interior, exterior, and major systems, so the more upfront info you can provide the better. If you can be there, great. The investor will usually have the paperwork with them to enter into the agreement if you choose, or you can at least meet them to get a feel for them and take more time to decide if you need to.
TIP: Investors (like us) are not scared off by any type of repairs needed, liens, or financial entanglements. The more clear and upfront you can be about the details the better.
5. You’ll proceed with contract and closing. You may sign a preliminary terms agreement at the property, or neutral location, however most closings typically happen at an attorney’s office as this is best for everyone’s protection and clarity. The attorney will often re-draft the purchase agreement and necessary forms, and you can meet at their office for closing, or they can send a closing package to you via express mail.
One of the great things about dealing with investors is the certainty involved with the closing. There are no mortgage companies or FHA guidelines to appease. Of course, things can still come up (such is life), but as long as you are dealing with a reputable investor then they will usually communicate with you throughout the entire process and you can feel good about your decision as you march towards the closing table.
We hope this article has been helpful in preparing you to deal with an investor or cash buyer for your real estate transaction.
If you have a house or property you need to sell, please give us a call at (904) 472-4766 and see how we can help…
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