Sometimes an investor will reach out to you, other times you can do a google search for house buying companies in your area to find an investor to buy your house. Just remember to make sure that an interested investor meets all the following criteria to ensure that the process of selling your home benefits both you and the investor:
- Someone that already has the cash on hand
- Someone that will buy the home AS-IS (no contingencies and outside appraisals)
- Someone that can work with you directly and give you an offer on the spot
- Someone that understands the Utah market and works with a local title company
- Someone who is transparent with you and discloses everything (especially if they are not going to buy the home themselves, but try and wholesale it!)
- Someone that can close quickly (in a few days), or whenever you are ready
So now that you know what to look for in an investor, the big question remains:
How Much Will an Investor Pay for My Home?
In general an investor is looking to make a 10-15% profit from an investment home. This profit comes after any money spent on remodeling and maintenance and associated costs with selling the property. If you feel like you are getting low-balled by an investor, you might not be — they can’t offer the going rate on a home, spend money remodeling it and then lose money.
The upside is that the investor usually plans on improving the home which will increase the potential selling price of the home. Their offer can be based on the value the home will have AFTER they have remodeled the home. The After Repair Value is the amount of money they hope to receive by improving and selling the home for top dollar. If you are in a hot market then an investor can take more risks while a slow market might prompt them to be more conservative in their offer.
How to Sell Your House to an Investor
When you reach out to Gary with Gary Buys Houses you are working with a trusted, local, cash buyer who fits all the criteria of what to look for in an investor! Gary can offer a fast cash offer and close in as little as a week and he’s been buying homes here in Utah for more than 10 years. You can feel confident about working with a real estate investor to sell your home — in any condition — when you work with a local investor like Gary. Contact him and find out how much this investor will pay for your home today!