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Jul 6, 2013

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A couple of tips on how to find a professional home buyer

By this time, everyone and their mother has seen the billboards and bandit signs for “We Buy Ugly Houses”, “Sell Home Fast”, and “Cash for Your House”. Perhaps most people don’t give it a lot of thought until they find themselves in a situation where they have a property that they need to sell quickly. Suddenly the images of those signs come flooding the memory. But so do all the questions. “Is this a scam?”, “Is it safe?”, or “Is it even legal?” And while an ethical real estate investor might be able to offer a realistic and mutually beneficial solution, a desperate homeowner could find themselves adrift in a sea full of sharks if not armed with the right information. 4 Tips on how to find a professional home buyer. ~ Before you, the property owner, even make the first phone call, make sure you've done the above mentioned homework regarding your financial situation and property value. ~ Go online and check out several investors. Look for someone who includes reviews or is a member of the Better Business Bureau. That’s not to say there aren’t shady individuals that belong to the BBB, but you are narrowing the playing field to folks that don’t mind being accountable. ~ Call 3 investors to take a look at your property and make you an offer. Do not fall for high pressure sales tactics of being forced into signing on the spot if you are not comfortable. ~ Look for the person that is going to take their time to assess not only your property but your personal situation. You may have tenants that need relocating or you yourself might need a little extra time to move. Perhaps you are facing immediate foreclosure. It is imperative that the investor clearly understands the entire situation. My Favorite Tip!! The highest offer may not be the best offer. There is a scrupulous practice in which an investor will come in and offer the moon for the property, just to get it under contract. However, during an option (inspection) period, they will come back and point out all the issues and ask for a price reduction. It is important that the contract transfers the property “AS-IS”. An option (inspection) period should be for informational purposes only unless an inspection should turn up something serious that was not disclosed by the seller. Another tactic to be aware of is a “contingency” or a “subject to” clause. An investor planning to either assign the contract or flip the property to another investor will sometimes write in a contingency in case he or she can’t find someone to close the deal in time. This way they can back out of the contract with nothing to lose. There is nothing necessarily wrong with this tactic as long as they disclose their intentions. If you are in a time sensitive situation, this is not a safe option for you because you will have no control over whether or not they find a buyer. Using a “we buy houses” investor for your unique real estate situation can be the easiest and most beneficial way to sell your property. There are many reputable investors that will work to ensure a satisfactory transaction for everyone. Doing your homework and asking the right questions will ensure that you find the right fit for your personal situation.  (Jul 21, 2013 | post #1)

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