5 Reasons Why I Chose an Investor to Buy My HouseMar 13, 2023
Photo by cottonbro studio
Inheriting a residential property in Missouri early this year was a blessing for me, but being based out of state, it presented a unique challenge. I needed to dispose of the property quickly and find an interested buyer. As someone without a background in real estate, my initial thought was to enlist the services of a realtor. However, my online research revealed an intimidating web of processes involved in selling an inherited property, including probate application, settling capital gains and property taxes, among other things that were all alien to me.
Fortunately, property investors have a strong presence in St. Louis, drawn by the proliferation of local foreclosures as an offshoot of the last housing crisis. With just a few phone calls, a bit of comparison shopping, and checking with the local Better Business Bureau, I was able to find a legitimate investor to buy my house without too much hassle. The experience was so pleasant that I could share the following five reasons why I turned to an investor to buy my house instead of going through the traditional real estate market.
Streamlined Processes: The investor whom I contracted to buy my house made the probate process easier, tackling much of the burden of settling the tax obligations of the inherited property and other related nitty-gritties. Paperwork became much simpler for me as the investor I got already has streamlined processes on purchases of inherited properties.
Stress-free Transaction: The investor's speedy action on the sale took the stress out of finding the right party to buy my house at such an unfortunate circumstance of grieving for a loved one. All my concerns on the transactions were promptly addressed, giving me peace of mind on the disposal of the property.
Fair Cash Offer: My deal with the investor who wanted to buy my house produced a fair and transparent offer, with cash guaranteed. I was given ample time to consider the offer and compare it with current market values. There was no pressure on me at all, even as this investor expressed keen interest in buying my house.
As-Is Purchase Okay: My initial fear was that I would not find someone to buy my house quickly because it was in poor condition. I just did not have the time or money to make it more presentable to a buyer. However, this was no problem for the investor, who was willing to buy my house as-is.
No Agent, No Fees: Had I found someone to buy my house through the conventional market, a fee or commission would have been charged by a real estate agent. In closing the sales deal with an investor, I likewise avoided paying a home inspector or spending money on house repairs.
In conclusion, my experience should serve as a fine reference for those who might find themselves in a similar situation. To a great extent, I owe a debt of gratitude to the investor who exerted all the efforts to buy my house quickly and spare me from the stress of selling my inherited property.