The Advantages of Selling Your DC Home to an Investor
If you’re planning to sell your home in Washington, DC, you have two choices – get it listed on the MLS with a real estate agent and sell it directly to an investor. Both have their advantages and disadvantages, but it’s worth noting that the second option offers some quite attractive benefits.
Here are five reasons to consider investors who pay cash for houses in Washington DC:
1. You get instant cash.
If you’re selling your house fast in Washington DC because you need instant cash, then real estate investors are your best bet. Some will even give you the money in under 24 hours.
2. There’s no need to spend on repairs or renovation.
A lot of people are hesitant to sell their homes even if they wanted to because they know they have to spend time and money fixing it up. Besides, repairs or renovation requires time. And because they’re not trained for this kind of job, they can end up losing thousands of dollars unnecessarily. They can hire contractors, but that can only increase their costs. Without a doubt, selling the house for cash as is is the much better option. Local cash home buyers in Washington DC will happily take a look at your property and purchase it, whatever condition it may be in.
3. Transactions close quick!
Usually, closing a real estate transaction would take months, even after the buyer and seller agreeing on a price. Just imagine the process of getting appraisals and inspections, financing approval and so on and so forth. With real estate investors, there is no need for any of these. If all you want is to sell your house fast in DC, then this is the way to go.
4. You don’t have to pay agent commissions.
If you decide to work with a real estate agent, you will probably have to pay him around 6% of the sale price to cover his commission and fees. Selling to a real estate investor, that would be unnecessary. If your property requires some fixing, it may just end up being bought by investors anyway for the same price. In this scenario, the realtor fees will provide almost no benefit.
5. There are no mortgage issues to worry about.
Lastly, traditional home sales can run from months to years and sometimes don’t even come through. This often happens when the buyer needs to qualify for a conventional mortgage and gets disapproved. Considering that lenders have become a lot stricter in their guidelines for mortgage approvals, this can really be a problem. Cash investors pay from their own pockets, so there’s no need to worry about them backing out.