Selling a house directly to an investor who is an all cash buyer comes with many misconceptions. People seem to have these ideas about what to expect based on stories they’ve heard or read about. But the fact of the matter is that most real estate investors are honest people, who are passionate about what they do. In our latest post, we will discuss four common myths people have about selling their homes directly to an investor.
Some people like sewing. Some people like selling products. Others love designing houses, and other people love buying and selling them. At CoMax Properties we love to help homeowners while restoring run-down properties. Real estate is our passion, as is helping homeowners in the Long Island area! Below are four myths we would like to clear up about selling your house to an investor in Long Island, NY!
You Won’t Get A Good Price
When selling your house to an investor in Long Island, you might have the idea that you aren’t going to get a fair price for your home. While we can’t speak for all cash buyers in Long Island, we can let you know that when you sell your house to CoMax Properties, you will always receive a fair and honest price for your property, based on current market conditions. We are very transparent about how we determine our offer prices and would be glad to run through the numbers with you in detail. We’ll take into account recent area sales (comps) and the amount of work that needs to be done to make the property comparable to others on the market. We will happily make you an offer, leaving the ball in your court. There is never any obligation, we want to make sure that selling directly to us is the right decision for you! For the sale to happen, it has to be a win-win situation for the investor and the homeowner.
Investors Are Con Artists
This is far from the truth as well. Many “investment” buyers are families looking to invest in a rental, or people looking to flip properties because fixing up homes is what they love to do. At Comax Properties we love helping people who need to sell a distressed or otherwise unwanted property and then making that property the nicest home on the block, so that another Long Island family can enjoy it! Of course, there are some investors out there to watch out for, but that is true in any industry. If a real estate investor is interested in buying your home, hear them out. Of course, you should also do some research. Check their reviews online and see if they are a member of the better business bureau. They might be able to offer you an excellent solution while saving you all of the costs of a middle man. Working with the right investor will ultimately save you time and money on the sale of your Long Island house! Ideally, you will be able to find a solution where everyone wins!
You’ll Be Hit With Hidden Fees And Costs
Again, we can’t speak for every real estate investor out there, but the majority operate openly and directly. This is how business gets done, and how everyone is able to save money on the deal. A fast, efficient, and straightforward process is the norm for most investors. When you work with CoMax Properties, you’ll never be blindsided with any additional costs or hoops to jump through. We’re direct buyers, ready to cover all the costs so you can sell quickly and with peace of mind. We lay it all out there from day one, so you’ll never have to worry about any surprises. Our goal is to ensure you are incredibly happy with your selling decision, hitting you with hidden fees is the last thing we would ever do! At Comax Properties we love lots of questions….don’t hesitate to ask.
The Closing Will Take Longer Than Promised
When you work with a direct cash buyer like Comax Properties, a closing date is never promised until the offer has been accepted. Once we have a fully executed contract, we will be able to run the title right away and close on the property as quickly as possible. Of course, if issues like back taxes or liens need to be resolved, we will do what needs to be done in order to move on with the closing as planned. You will never have to wait while we find a buyer for your home. We are not assigning contracts, we are direct buyers with the ability to close on your property right away. Many national companies who advertise that they can buy your house and close in 7 days are not being truthful. In Long Island and all of New York State the closing process generally take no less than 21 days and typically takes at least 30 days on an all cash purchase. This is because New York requires attorneys to be involved in all real estate transactions. In most other states, attornies are not involved and the closing is handled by a title company.
At the end of the day, working with an investor might be the best way for you to reach your goals. Investors will know how to work with the title company to get things handled quickly. The entire selling process can be completed in just a few days as opposed to the traditional process of hiring an agent, listing on the MLSLI, waiting for a buyer, and going through the escrow process. Avoiding the escrow process will save you time and money! The escrow process allows time for buyers to complete inspections and appraisals, two things that typically aren’t required with a sale to a Long Island real estate investor, at least when you are working with CoMax Properties, we buy as-is!