We buy houses. How does it work?? Advice from a local Pittsburgh RE Investor:
As a local Pittsburgh investor that buys houses, I often get a lot of questions from people asking me “how does that work?” Many people have seen the countless signs around town stating “we buy houses” or “we buy ugly houses”, but don’t really know what to expect when calling one of these companies. The process is actually really easy and can be a great solution if you’re looking to sell your house quickly.
Basically there are a few things that an investor can do when looking at your property. They can buy it outright, they can sign it up under an option agreement or they can refer you to a realtor that may specialize in the type of property that you are selling. Depending on your situation, one of these solutions may be best for you. Let’s look at them and explore the benefits of each.
First, an investor may be so interested in your property that they simply want to offer you an all cash offer for it. Many times investors are looking for fixer upper properties that they can put some money into and then resell later; or they may be looking for properties that would be a good fit for their rental portfolios. Either way, investors are always looking to purchase properties for their personal real estate investment portfolios. Many sellers who have properties that need extensive repairs and updates like investors because they can usually buy their property for cash and close quickly. Additionally, if a property is in really ruff shape, a traditional bank will not lend a mortgage on that property because of the increased risk associated with distressed properties. Therefore, an investor with available cash is a valuable resource for the seller.
An investor may also decide to purchase the property under what’s called an option contract. An option contract allows the investor the right to purchase the property at a set price from a buyer, within a designated timeframe. Many times if an investor finds a property that may not be the perfect fit for their own portfolio, they may use the option strategy to secure the property and then take the time to market that property to other investors for a small fee. The fees are always passed on to the end buyer so the seller gets exactly the price they want from the house and the buyer pays alls fees to the investor. Why would you want to sign up a property under an assignment contract with an investor? Many times sellers do not have the resources, time or contacts needed to effectively market a property to the real estate investor community. By utilizing a local real estate investment professional to help you market your property, you give yourself the opportunity to tap into that investor’s contacts to help you move your property quickly. Subsequently, since you have a stated sales price in the contract you do not have to worry about negotiating with potential buyers or spending any money on the marketing efforts. If for some reason the investor cannot find a buyer for the property, the contract will usually expire and no transaction will take place. Typically option contracts are written for 60 days or less, so the seller is not bound to a long selling process. Again, this strategy of selling your home can be very efficient if you’re looking for a set cash offer, have a property that needs lots of work or simply don’t have the time, money or contacts to effectively market your own property.
Finally, many investors can also help refer you to a qualified real estate agent. If the investor does not feel that the property you are selling is the right fit for them personally or for an assignment contract, your next best bet is to work with a professional agent. Many real estate investors may be licensed as agents, but don’t personally list and show houses. As a licensed agent, they do have extensive resources available to them and they can certainly suggest a full time agent to help you. Of course you can find an agent on your own, but by tapping into the resources that full time investors have, you are more likely to get referred to a very qualified agent that specializes in selling your type of property in your neighborhood. Don’t just pick any agent by chance; let an expert help you find someone that will be a perfect fit for your particular situation.
As a seller, deciding how to sell your property is a very important decision. By working with local real estate investors you may find that you can sell your home quickly and with little hassles. I highly recommend that sellers of distressed properties utilize investors as a means to help sell their “special needs” properties because investors are inherently capable of dealing with the special circumstances and issues that arise with these types of properties.
If you have a property that you would like to sell in the Pittsburgh Area, please call 412-567-2125 or visit http://www.cashforpittsburghhomes.com/
We are now serving the Philadelphia market also. Visit http://www.cashforphiladelphiahomes.com/ for a cash offer on you Philadelphia area home.
Thanks,
Chuck Conto
Real Estate Investment Services, LLC
As a local Pittsburgh investor that buys houses, I often get a lot of questions from people asking me “how does that work?” Many people have seen the countless signs around town stating “we buy houses” or “we buy ugly houses”, but don’t really know what to expect when calling one of these companies. The process is actually really easy and can be a great solution if you’re looking to sell your house quickly.
Basically there are a few things that an investor can do when looking at your property. They can buy it outright, they can sign it up under an option agreement or they can refer you to a realtor that may specialize in the type of property that you are selling. Depending on your situation, one of these solutions may be best for you. Let’s look at them and explore the benefits of each.
First, an investor may be so interested in your property that they simply want to offer you an all cash offer for it. Many times investors are looking for fixer upper properties that they can put some money into and then resell later; or they may be looking for properties that would be a good fit for their rental portfolios. Either way, investors are always looking to purchase properties for their personal real estate investment portfolios. Many sellers who have properties that need extensive repairs and updates like investors because they can usually buy their property for cash and close quickly. Additionally, if a property is in really ruff shape, a traditional bank will not lend a mortgage on that property because of the increased risk associated with distressed properties. Therefore, an investor with available cash is a valuable resource for the seller.
An investor may also decide to purchase the property under what’s called an option contract. An option contract allows the investor the right to purchase the property at a set price from a buyer, within a designated timeframe. Many times if an investor finds a property that may not be the perfect fit for their own portfolio, they may use the option strategy to secure the property and then take the time to market that property to other investors for a small fee. The fees are always passed on to the end buyer so the seller gets exactly the price they want from the house and the buyer pays alls fees to the investor. Why would you want to sign up a property under an assignment contract with an investor? Many times sellers do not have the resources, time or contacts needed to effectively market a property to the real estate investor community. By utilizing a local real estate investment professional to help you market your property, you give yourself the opportunity to tap into that investor’s contacts to help you move your property quickly. Subsequently, since you have a stated sales price in the contract you do not have to worry about negotiating with potential buyers or spending any money on the marketing efforts. If for some reason the investor cannot find a buyer for the property, the contract will usually expire and no transaction will take place. Typically option contracts are written for 60 days or less, so the seller is not bound to a long selling process. Again, this strategy of selling your home can be very efficient if you’re looking for a set cash offer, have a property that needs lots of work or simply don’t have the time, money or contacts to effectively market your own property.
Finally, many investors can also help refer you to a qualified real estate agent. If the investor does not feel that the property you are selling is the right fit for them personally or for an assignment contract, your next best bet is to work with a professional agent. Many real estate investors may be licensed as agents, but don’t personally list and show houses. As a licensed agent, they do have extensive resources available to them and they can certainly suggest a full time agent to help you. Of course you can find an agent on your own, but by tapping into the resources that full time investors have, you are more likely to get referred to a very qualified agent that specializes in selling your type of property in your neighborhood. Don’t just pick any agent by chance; let an expert help you find someone that will be a perfect fit for your particular situation.
As a seller, deciding how to sell your property is a very important decision. By working with local real estate investors you may find that you can sell your home quickly and with little hassles. I highly recommend that sellers of distressed properties utilize investors as a means to help sell their “special needs” properties because investors are inherently capable of dealing with the special circumstances and issues that arise with these types of properties.
If you have a property that you would like to sell in the Pittsburgh Area, please call 412-567-2125 or visit http://www.cashforpittsburghhomes.com/
We are now serving the Philadelphia market also. Visit http://www.cashforphiladelphiahomes.com/ for a cash offer on you Philadelphia area home.
Thanks,
Chuck Conto
Real Estate Investment Services, LLC
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