Sell My House To An Investor Flipper In Albuquerque.
You have decided you want to sell your home to an investor or flipper. This article is to help you understand there are many different kinds of investors. This article should help you through the process of selling your home to an investor. This article will explain the different types on investors.
Sell Your House To An Investor With Cash To Buy Your House
This type of investor is going to be your least risky sale of your home to an investor. These investors plan to purchase your home, remodel your home, and sell your home. They have the cash in the bank and will pay cash for your home. Their intention is to do all this and to make a profit. When you are negotiating with any investor, ask them to provide proof of funds. For this type of investor, they will typically show you a bank statement that shows they have enough cash to purchase your home.
Sell My Home To An Investor Using Hard Money To Buy Your House
This type of investor adds a little more risk as part of the transaction. This type of investor does not have the cash to purchase your home. They are borrowing money for another investor in order to purchase your home. Hard money lenders charge a fairly high interest rate and a high origination fee. The reason this type of investor adds some level of risk as they are dependent on the hard money lender. This type on investor will show you a letter from the hard money lender stating they will lend the money to the investor purchasing your home.
Sell Your Home To A Wholesaler
Wholesalers do not have the intention or ability to buy your house. Wholesalers are looking for deals with the intention of finding an investor to purchase your home. They place your home under contract at one price and look to sell the contract at a profit. Many of the wholesalers have a list of investors that may want to purchase your home. This type of transaction adds risk to the sale of your home. You cannot get paid until the wholesaler finds an investor to step in and close on the transaction. Wholesalers will not be able to provide a valid proof of funds.
Sell Your Home To An Investor Using A Real Estate Contract
This type of investor wants you to do owner financing while they flip your home. Be careful with this type of transaction. If you have a mortgage, the mortgage probably has a due on sale clause. This means the bank requires you to pay off the mortgage when you sell the home. In many cases, lenders are not aware of the sale and don’t really care if they are being paid. However, if the lender choses, they have the legal right to require payoff of the mortgage on the sale. This is probably the highest risk method of selling your home to an investor. Another risk with this type of transaction is the investor starts demolition and they run out of money before they complete the repairs. You can take the home back fairly easy, but now you are stuck with a home that needs repairs and you may not have the cash or knowledge to complete the remodel. This type of investor cannot provide a proof of funds.
We Buy Homes Fast In Albuquerque
I am sure you have seen may advertisements about investors buying your home for cash and a fast close. This article is to help you understand the different types investors. Most home owners that want to sell their home to an investor have no idea there are different types of investors. There are a lot of costs associated with flipping homes. Some of the costs are repair costs, costs to close on the purchase of your home, costs to close when the investor sells you home, and the profit they want to earn. Some costs called carrying costs include property taxes, insurance, utilities, and costs to borrow money. All investors will have different cost structures such as repair costs, profit margin, costs of money. You may see a very wide range is purchase prices for your home, based in the investors cost structure.
Myers & Myers Real Estate does purchase homes directly from home owners. In most cases we buy homes with our cash, remodel the homes with the intention of making a profit. Please call us at 505 401-7500 if you are looking to sell your home to an investor.
Myers & Myers Real Estate is a full-service real estate brokerage located in Albuquerque New Mexico. We help home buyers and home sellers in the Albuquerque metro achieve their real estate goals. Our website has every home for sale in the Southwest Multiple Listing Service. Check out homes for sale in Albuquerque, homes for sale in Rio Rancho, homes for sale in Corrales, homes for sale in East Mountains, homes for sale in Valencia County, and homes for sale in Los Lunas.