An increasingly common method for homeowners to sell their homes is to find an investor or home buyers group who will assume all of the repairs and pay 100% cash. This non-traditional sales method is used by Texas House Investors as a simpler and faster way for homeowners to sell their homes, which are usually the most valuable asset they own.
“There are multiple advantages for homeowners when they sell their homes to investors,” explains Heather Dennise, manager of Texas House Investors, “Probably the top three reasons are a short time frame, cash, and no repairs. In a traditional real estate transaction for a home purchase a buyer will ask for a loan from a bank or other lending institution – which requires weeks or months of paperwork. However, our transactions are usually concluded within several weeks because the investors are using cash and not requesting any new loans from a lending institution. That makes the whole process much more simple. And the home seller does not have to make any repairs to the house because the investor is buying the property in as-is condition.”
The fact that the home seller does not have to make repairs to his / her property is a huge advantage. At some point most homeowners have dealt with contractors, estimates, time delays, and sometimes shoddy workmanship. And the homeowner must have the cash available to pay for the repairs or borrow the money. Eliminating the need for repairs is a big selling point when owners are selling their house.
Selling a house to a real estate investment group is a process and home sellers want to know “How it works.” It is a simple process that can be summarized in four easy steps. First, the investors will visit the house and make a Free Evaluation of the property. Second, the investor will make a Cash Offer. Third, if the homeowner accepts the offer then an Agreement is drafted. Fourth, the Closing will usually occur in a few weeks.
Other advantages for homeowners who are searching the internet with terms such as “sell my house” or “house buyers” is that a home buyer group will not be showing the house to retail buyers. Many homeowners have dreaded having to make appointments and have strangers walking through their home. And let’s not forget to mention that since there is no realtor involved, there is no realtor commission to pay.
“We are home buyers and we will either rehab the house and sell it to a retail buyer or we will sell the house to another investor. Our goal is to have a steady flow of inventory and improve the housing stock in El Paso,” stated Ms. Dennise.