I have been receiving multiple offers in the mail from investors who are interested in buying my home. I'm not on the market and I'm not sure how they are getting my information. If I wanted to sell to them I would think they would be a good way to go to avoid the hassle of having it listed. Can you provide some information on how this type of sale would proceed?
Investors mass mail to neighborhoods in an effort to secure someone who wants to sell their property. Remember investors want to get a home for the least amount of money so they can receive the most profit. They are getting your information from tax records in the County.
While it can be tempting to contact these investors because normally their mails will state they buy properties in any condition, cash and settle quickly, there are a few things for a Seller to consider.
1. In all actuality you will receive more for your property, even with commission to a Realtor, by placing your home on the market with a Realtor. The reason for that is that there are many cash buyers purchasing homes/investment properties at this time. If they do not know you are a willing Seller, you miss out on the ability to market to everyone looking for a property, which in turn would create a demand for your home and provide you with a more favorable selling price;
2. Anyone using cash to purchase can close within a week or two, depending on Title coming back clear, and most do by in as-is condition.
3. When Selling your property by yourself there are many pitfalls you can find yourself in. It truly is best to hire a Realtor to guide you through the entire process.
Many times I have seen what an investor pays for a property that was never listed for the general public and I'm shocked at what they paid. I know that these Sellers could have received so much more for their property had they just put it on the market! Homes can be sold as-is.
In the end, statistics are on the Seller's side, that when listed by a Realtor, even with commission, the Seller will receive a larger profit than if they sell the property privately. Also consult with an experienced Realtor in your neighborhood prior to making any kind of decision regarding the private sale of your home.
It seems the market is moving quickly in our area. Is it better to wait to list a home until Spring Market or is now the time?
Listing your house now will minimize the competition. Our market is good at this time. When homes are listed for the right price and extensively marketed they are selling. Once we come into Spring Market many more homes will become available and then you will have more compeition.
If you are in the position to list now my advice would be to do so. Phoenixville remains strong. The Spring Market is right around the corner. A month jump on that market can make a difference and the rates are super low right now which encourages the buyers.
Ask the Realtor is brought to you by Phoenixville's Home Town Realtor, Jennifer Daywalt, Realtor (Licensed in PA) with RE/MAX Results Realty - Collegeville. Questions can be emailed to Sellinghomesjenn@aol.com and all will be answered in this forum.