There are many reasons you might want to sell a house as-is with no inspection. Maybe you inherited one and don’t have the money to pay for repairs or property taxes. Perhaps you have a summer home, and your finances would be greatly improved if you got rid of the extra property. Whatever your situation, there are ways to sell an unwanted house without the hassles that come with traditional real estate agents.
Sell a House As-Is to an Investor Hassle Free
Real estate investors often use different processes for buying houses than real estate agents do. They don’t demand showings, some don’t insist on inspections, and they typically don’t want outside appraisals. Instead of relying on these methods of valuation, they look at the area the house is in and similar fundamentals to decide what to offer for the property. It can be easy to sell a house as-is with no inspection in this way.
What Happens to the House After an Investor Buys It?
There are two main possibilities for what happens after you sell a house as-is: the house may be resold, or it may be turned into a rental. Which most likely depends on the local market and the focus of the investor.
Before a house is sold to a private buyer or rented out, it will receive any necessary repairs and remodeling. This can be quite extensive in some cases, but you don’t have to worry about it. The investor will start this work only after it has already bought your house and paid you.
If the house is resold to another investor, it’s common for no repairs or remodeling to be done. Instead, it is sold as-is along with a package of other houses. Known as a “wholesale” real estate deal, it saves larger companies from having to house-hunt to grow their portfolios.
Benefits of Options to Sell a House As-Is
You avoid the need to clean out the house when you sell a house as-is, which is a huge benefit if you’ve inherited a home that has decades worth of knickknacks and other things within. You also don’t have to do any repairs or staging. There are no open houses and no public showings. Finally, you don’t have to wait and wonder if the buyer will be able to get a mortgage.
Many people find that the ability to avoid the hassles of a typical agent-driven house sale is worth the lower payout that often comes with selling to an investor. It is typically a trade-off of money for speed and convenience. If you need to sell a house fast, or you don’t want to deal with any more stress, it’s well worth doing business with an investor.
What Must You Do Before Selling to an Investor?
The one thing you’ll need to sell a house as-is with no inspection is a clear title for the house you want to sell. If you don’t have it, the sale will have to be delayed until that is rectified. In the case of an inheritance, that will often require the settling of probate proceedings.
Often, the investor’s firm will already have associations with a variety of legal experts who can help with these things, so if you’re caught by surprise, you’re not necessarily out of luck. However, some investors charge for these services, while others factor these costs into their offers from the start. Be sure to ask if your payout will be reduced, or you’ll otherwise be charged extra, before agreeing to accept any legal help. Get the answer in writing.
How Fast Can an Investor Close When You Sell a House As-Is?
Most say they can close – and pay the seller – within a couple of days of written acceptance of their offer if everything is in perfect legal order. However, since it is not a perfect world, it really depends on your situation and your needs. In any case, the process will be as hassle-free as possible.
Which Investor Should You Choose?
Every area has its own local investors when you sell a house as-is. It’s best to get quotes from a few of them, and avoid the big national chains. Local investors, like Valley Residential Group in Connecticut, tend to make better offers and cover for more unexpected contingencies than national chains.
Local groups also have the advantage of not only knowing the local market and legal landscape, but also having no nonsensical restrictions put on them by a distant head office. This gives them a lot of flexibility that is hard to find elsewhere. You may also find them friendlier and easier to work with in general.
To get started with Valley Residential Group, just contact them for an offer. They’ll get back to you quickly with their opinion of what your house is worth. Once you get the offer, you can decide to proceed right away or seek more quotes. If you take the second route, be sure to save Valley’s details – you may find that their offer is the best!