If you’re planning to sell your home in Washington, DC, you have two choices – get it listed on the MLS with a real estate agent and sell it directly to an investor. The two have their own advantages and disadvantages, but the second option does provide some pretty attractive benefits.
Here are five reasons to consider investors who pay cash for houses in Washington DC:
1. You get your money instantly.
If you’re selling your house fast in Washington DC because you need instant cash, then real estate investors are your best bet. There are even those who can get you your money within 24 hours.
2. There’s no need to spend on repairs or renovation.
Many people would like to sell their homes but hesitate to do so because of the expensive repairs that may be necessary. Besides, repairs or renovation requires time. And because they’re not trained for this kind of job, they can end up losing thousands of dollars unnecessarily. They can hire contractors, but that can only increase their costs. Without a doubt, selling the house for cash as is is the much better option. Local cash home buyers in Washington DC will happily take a look at your property and purchase it, whatever condition it may be in.
3. The transaction closes fast!
In most cases, even with the buyer and seller already agreeing on a price, real estate transactions can still run for months. Just think of that process – appraisals, inspections, financing approval, etc. None of these is necessary if you sell your home to an investor. If all you want is to sell your house fast in DC, then this is the way to go.
4. There is no need to pay commissions to an agent.
If you decide to work with a real estate agent, you will probably have to pay him around 6% of the sale price to cover his commission and fees. Selling to a real estate investor, that would be unnecessary. If your house is in need of repairs, it will likely end up purchased by investors at the same price anyway. In such a case, the realtor fees become almost useless.
5. Mortgage complications are out of the picture.
Lastly, traditional home sales can run from months to years and sometimes don’t even come through. This often happens when the buyer needs to qualify for a conventional mortgage and gets disapproved. Knowing that lenders have become so much stricter in screening mortgage applications, this can indeed be a problem. As cash investors rely on their own pockets, you need not worry that they may retract any time.