Video Transcription
Bob Allwein: Hi. It’s Bob Allwein from Maryland Cash House Buyers. Frequently we get a question about selling with a realtor versus selling to an investor, such as us, so let’s talk about the pros and cons of each. A pro with selling with a realtor would be you could potentially receive a higher offer for your house. A con with working with a realtor could potentially be a lengthy list of repairs that the new buyer is asking you to perform before they actually get to settlement on your house. Another pro of listing with a realtor would be that they handle the majority of the closing process for you. From the time that you sign with them until the time you get to the settlement table you have somebody there that’s going to walk you through that process.
A con of working with a realtor would also be the length of time on market. Sometimes it could take 30 to 90 days to sell your property on the MLS with a real estate agent. Unfortunately, another con of working with a realtor is sometimes the buyer of the property might not be able to close. Every once in a while loans fall apart and things happen, which causes the buyers to leave. They might have a contingency that they’ve exercised in their contract, and then you have to list the property back on the market again. Another con of working with a real estate agent is that there will be a home inspection and appraisal of your property. Frequently these two result in repairs that you will need to make before you can sell your house.
Pros and cons to working with an investor. A pro would be that you’re most likely going to receive an offer on the spot when the investor comes out to meet with you. Another pro would be that their offer is going to be based on its current as is condition, meaning you won’t have to make any repairs to your property. Another pro would be that frequently investors are making cash offers, meaning that they’re going to come to settlement with zero contingencies with a loan requirement from a bank or a mortgage lender. Another pro with working with an investor would be that they can typically close pretty quickly. If you want to close in two weeks, most investors can close in two weeks.
Cons of working with an investor. The first con would be that your offer price to purchase the house is probably going to be much lower than your offer price if you listed it on the MLS with a realtor. Now, the reason for that is because the investor is factoring in all of the repairs that the investor is going to make to the property once it’s purchased. Another con of working with an investor is you might not know that person and somebody is going to come to your house that may or may not be a licensed realtor. So, if you’re interested in working with a professional real estate investor, please go to our website, www.mdcashhousebuyers.com, fill out the response form, and we’ll see you very soon.