If you have put up your property for sale, you would know the hassles of promoting your property and having genuine potential buyers coming in to see the property. If you are looking at quick sales, you might want to look at real estate investors.
Why Go in For Investors
One of the greatest advantages of selling off your property to real estate investors is that you are saved from the hassles of promoting your property to potential buyers. You might have to pay a commission to the real estate agents for selling your property.
If you need cash on an urgent basis then a real estate investor can help you. Some of the other benefits include:
- Investors purchase the property immediately and offer cash
- You do not have to worry about repairs or renovating your home
- If the investors like your property, they might even be willing to pay off the closing costs
- They might even offer lease, subject to or seller financing offers
Searching for the Right Real Estate Investors
If you have never worked with a real estate investor, then you can get easily scammed by fraudulent companies. Real estate investors are not the same as finding real estate agents. It requires a certain skill set that you might not come across many realtors.
You might need to do your homework. Enquire about credible real estate investors in your neighborhood. Do not rely on one investor for your property. Check with a few more. When you have found the right investor then you can set the right price and sell off your property.
If you live in and around Texas, you can even check out http://www.elpasocashhomebuyer.com/ to sell off your property in El Paso. You can be assured to get fair offers for your property. The best part is that you need not have to worry about the condition of your property as all these will be taken care by them.
Mortgage Notes and Investors
Mortgage notes work like promissory note that states the loan amount, duration of the loan and the rate in interest for that loan. Here the person signing the note is liable to pay the full loan amount within the stipulated time period.
If you agree to sell your mortgage note to the investors, you need to share all the relevant details pertaining to your property such how loan is due, how much has been paid with the investors. If they are satisfied with the details, they might put forth a price.
If you agree to the said price, then you might need to furnish additional details as required by the investors. Finally the investors might want to conduct a property evaluation to know the net worth of your property before they close the deal.
Conclusion
Ensure that you have all documents ready such as Deed of Trust and contract along with the mortgage notes in order to speed up the process. After all the formalities are completed, you will need to transfer documents and sign the Assignment of Mortgage to the investor so that the money can be handed over to you.