You see the ads on Kijiji and in small papers saying they will buy your house for cash, any condition, and quick possession. No Realtor required.
You say “What is this about?” Very straight-forward actually. They are almost always investors.
What they are offering is a fast, fairly hassle-free way to sell your home.
Is there a catch, you say? Well …. sort of. The price they will probably offer you is around 15 to 30 % below the actual market value for your home.
They have to build-in a profit margin for themselves, to be able to offer this to home-sellers. As with anything in life, if there is need then there will be someone to fill it.
Now who would look at selling their house through an investor like this? Maybe someone behind on their mortgage payments and they need to sell to beat foreclosure? Or someone who just has to sell fast and can’t wait for it to be listed and sold by a real estate agent.
No matter the situation, the homeowner should still get an appraisal done to establish the value of their home and also use their own lawyer to protect their interests.
Also, like any transaction…. read the fine print and ask lots of questions up front.
Investors can help someone out of a tough situation, when needed.
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Also, don’t forget to check out the listings search pages on RightHouseRightTime.com or BenOfficer.ca. If you sign-up for the extra info, I won’t bug you.
Ben Officer, CD REALTOR
RE/MAX Real Estate
Email