If you’re thinking of selling your Washington, DC home, you can either have it listed on the MLS with a real estate agent or sell it straight to a real estate investor. The two have their own advantages and disadvantages, but the second option does provide some pretty attractive benefits.
Below are five great reasons to explore investors who pay cash for houses in Washington DC:
1. You get the payment immediately.
If you’re selling your house fast in Washington DC because you need instant cash, then real estate investors are your best bet. Some can even pay you within 24 hours.
2. You need not spend money to repair or renovate your property.
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 may hire contractors, but this will only add to their costs. Most certainly, selling the house for cash as is is the far wiser choice. Local cash home buyers in Washington DC will gladly tour your home and buy it, irrespective of its current condition.
3. Transactions close fast, period.
Typically, it would take months to close a real estate transaction, even after the buyer and seller have agreed on a price. Just think of that process – appraisals, inspections, financing approval, etc. None of these is necessary if you sell your home to an investor. If your goal is to sell your house fast in DC, then there is often no better route than this.
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. With a real estate investor, there’s no need for that. If your house is in need of repairs, it will likely end up purchased by investors at the same price anyway. That means realtor fees will bring almost no benefit.
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. With lenders’ mortgage approval guidelines becoming a lot more stringent, this can indeed be an issue. Cash investors pay from their own pockets, so there’s no need to worry about them backing out.