Pros and Cons of Selling Your Home To a Real Estate Investor – Explained by Jeremiah Dalton

Selling Real Estate
Full transcript – https://www.suffolkcountyhousebuyers.com/blog/pros-and-cons-of-selling-your-home-to-a-real-estate-investor/

Contact – https://goo.gl/maps/45BqiaxumUC2

Jeremiah Dalton: 00:00 Hey, what’s going on everyone? I had a little time this afternoon which is a rarity these days, and I just wanted to make this quick clip about the benefits of working with an investor and selling your home off-market to a cash buyer. I’m hoping this video gives you some insight to help you decide if this particular route is the right option for you to take, because it’s really not for everyone.

Jeremiah Dalton: 00:20 In an effort to debunk some of the propaganda out there from those that say selling to an investor is always the best option, let me be clear. If you want the absolute most money for your home, then listing it is your best bet. It’s just that simple. Don’t sell to someone like myself. If you list your property, you’re gonna have more traffic through your home. The more traffic you drive to your home, the better chance that you’ll get a higher selling price. Yet, for some people, getting the most money is not the most important thing for them. I always say working with us is great for homeowners and landlords, but only if it makes sense. I want to explain to you a lot of the reasons because there are frankly a multitude of them.

Jeremiah Dalton: 01:04 For starters, let me explain some of the drawbacks of listing the home versus selling it off-market directly to a buyer. As I mentioned before, you want as much traffic through your house to get the highest price, however, having boatloads of people come through your house may not be what you want. You might be embarrassed of the condition. You may value privacy above all else, and having a sign on your front lawn is gonna lead to many nosy neighbors peeking their head inside, which is not something you want. There could be a divorce going on and you don’t want people to be aware of your business. It makes sense. These are all valid reasons as to why you’d prefer an off-market transaction. By working with us, you would accomplish keeping your personal business a secret.

Jeremiah Dalton: 01:50 Now, when you list your home, you’re gonna use a realtor, and undoubtedly you’re gonna have to pay a commission, which is something you avoid with selling directly to a cash buyer. That’s a given. Beyond that however, there are some issues with working with a realtor. There’s great realtors out there, but in my experience, there were only a handful of great ones, and the rest give the industry a bad name. You may get someone who doesn’t have your best interest, and again, you’re paying them to take care of this burden for you. I’ve seen many realtors keep their clients in the dark about other offers, they never answer calls, and quite frankly, they compound what is already a difficult process. The nice thing about working with investors such as myself is that you can get the information first-hand without having someone in the middle. If you’ve ever played the game of telephone in grade school, you know how a story can get twisted, so you avoid that.

Jeremiah Dalton: 02:44 Another benefit is the speed as to which we close. I’ve seen even in this market with houses that are priced very fairly, take months upon months to close with buyers stringing sellers along, only to get cold feet before signing contracts, or they lose their commitment and now you have to start the process all over again. Now, how do I know this? It happens to me all the time as a seller. The amount of people out there, flaky ones out there, is astonishing and quite disappointing. Bear in mind, I’m selling turnkey homes that have a flurry of buyers interested, because brand new homes are much more desirable, naturally. Even I incur this. This leads you to situations where you might actually reject another offer, and then that original buyer bails on you, and when you go back to that second offer, they’re already gone.

Jeremiah Dalton: 03:35 Another unfortunate consequence of living here in Long Island are two things: One, property taxes and two, oil heat. For each month that you can’t sell your home, that could easily be between two to three thousand in taxes and utilities, and I’m not even counting the fact that you have a mortgage. With a cash offer, you’re guaranteed to close in as little as 30 days. Homes that take months and months to sell in the winter time especially, you could be paying an extra 10 to 15 to 20 thousand in simple holding fees. Going back to what I said about realtors, many are gonna promise you the moon as far as the sale price, and after completely striking out on the list price, they’ve now stigmatized the home which leads to even more days on market. Again, not always the case, but certainly happens quite a bit. All of this is avoided with working with an investor. Now again, I’m not trying to knock Long Island. I live on Long Island. I love it, but there’s a high…

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