Fixing all the damages in your house before selling is conventional wisdom. Agents would always push you to spruce up your property in every possible way to make it more attractive to buyers and increase its overall value. Even if they make a lot of sense, the real motivation behind their fondness for beauty and perfection is their commission. After all, their cut depends on the total sale price of your house; so the bigger, the fatter paycheck for them.
But, does this practice necessary when you’re dealing with a real estate investor? It’s not unheard for buyers paying cash for houses in St. Louis, Salt Lake, Dallas, and other hot markets to purchase properties as is. Here’s why:
They Want to Speed Up the Process
Unlike most homebuyers, real estate investors are businesspersons. For them, time is of essence because it could cost them dearly if wait too long to own a certain property. As much as you want to earn money from your unwanted house, they likewise want to generate returns from it at a certain period.
According to fasterhouse.com, the last thing real estate investors need is for your renovation project to stand in their way to reselling it at the time they have in mind.
They Want to Handle the Repairs Themselves
As businesspersons, they have their own way of dealing with problems differently. They might feel more comfortable to assess if the property really needs some fixing or not themselves. If a repair is inevitable, there’s a great possibility that they have a Rolodex of contractors that could give them discounts.
They Are Not Going to Live There Anyway
A real estate investor might care more about the possible issues of your house if he or she would call it an abode eventually — but that’s not the case. When typical homebuyers see home in a property for sale, investors see it as a product, which they can potentially resell it for a handsome amount.
If you prefer to sell your house to a cash buyer, any type of repair is unnecessary. Not only you don’t have to finance the job, you also save yourself from all the fuss that comes with it.