Deploying the annoying jingling tune in the daytime television advertisements, there is a new breed of homebuyer that is threatening the traditional real estate status quo.
Where people would once work with realtors or sell the properties independently to buyers, it is now possible to sell to companies interested in buying the house in a matter of weeks.
The companies are willing to purchase the home at up to 90% of its market value, and the payment is available in cash if that is your preference. This article will tell you all about this new breed of housebuyers San Antonio, known as property investors.
If you are trying to make a quick sale, it is possible to use one of the many “quick sale house investors” now available online. All these property firms state their objective is to purchase a property from struggling homeowners who need to sell quickly; however, in reality, the buying price is a fraction of the real property value.
Furthermore, with a lack of regulation in this area of property sales, many quick sale customers are following in the footsteps of sale and rent back tenants.
According to real estate we buy houses San Antonio professionals, homeowners searching for quick sales are by definition obvious targets for quick sale property websites.
They are vulnerable individuals who are unlikely to be offered the full property market value, but they are willing to accept this loss for a speedy sale. Many of the websites state that they will remove only 10% of the market value, but the figure is often higher.
This means that the seller will receive much less than the 90% market value amount they thought they would be receiving. As a benefit, when you sell a property to a property investor, there are no legal fees or commissions to be paid.
Statistics show that many of these property websites indicate that they will help you if you have arrears by ceasing any impending repossession of the property, as long as you have adequate equity.
This means that property investors can be useful if you face losing the house altogether due to high repossession fees. However, this is rarely the focus of an investor with people paying more attention to the quick sale of the properties.
If that is the most significant factor, experts state that housebuyers San Antonio need to be prepared to make losses.
According to real estate agent Dean Heaviside from Fine Estate Agents, using property investors is potentially selling at its worst option. The websites focus fully on negative news and prey on the vulnerable home sellers.
The sellers need to realize that an offer to pay 90% of their property’s market value is not realistic, and the investors are more than likely to pay an amount far less than the actual worth.
In fact, reports show that many of these new housebuyers San Antonio offer less than 50% of the property’s market value during a transaction.
One of the greatest problems with property investors is that this area is an unregulated sector of the real estate industry. The majority of firms are looking to make a ‘quick buck’ with some smaller companies taking on properties that were passed to buy-to-let landlords.
If those landlords failed, the original homeowner would be made homeless selling well below the property’s market value. Of course, there are certain property investors that stand apart from the competition and are genuine cash buyers.
It is important that one does research before contacting these sites or doing business with them. According to Kate Faulkner, who runs a property advice sites, you should check on the Companieshouse.co.uk website to see if the firm is registered.
If they are registered, then you should conduct further research regarding how long the company has traded and their annual turnover.
If you are dealing with a company that has not had any profit and has been operating for a short period, it is recommended that you tread carefully. You should not sell a property for less than 20% of your property’s value, and never do this without a contract.
As can be seen, there are various issues to consider when dealing with property investment companies. By reading this information, you can determine if using these websites to purchase your home is suitable for your needs.