How do you find a fair investor if you need to sell your property fast?

Asked by extra4, Missouri Mon May 20, 2013

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9
Ron Thomas, Agent, Fresno, CA
Mon May 20, 2013
A Contradiction of terms:
An INVESTOR is trying to BUY LOW and SELL HIGH.

In truth, you don't care who buys your house; you just want it to sell FAST.
The way to do that, is to price it 10-15% below Market.
1 vote
Terry Farnsw…, Agent, Lisle, IL
Fri Jun 7, 2013
You can sell anything quickly if you are willing to drop the price low enough. As stated below, simply price your property enough below market value and it will sell this morning. Whether you want, or have enough flexibility/equity in your home to do so - is a whole different question.

Investors are not in business to be "fair" - they are in business to make a profit. They are, or should be, laser-focused on the bottom line and if the deal does not make sense to them - they aren't going to waste their time on it.

Calling a "We pay cash for houses" sign on the side of the road is going to end in an offer for well below what you are looking for.

If it were as easy as calling a sign, then getting your home sold the next day for a "fair" price at or above market value - we'd all be out of business.
0 votes
Terry is absolutely correct!
Flag Sun Jun 9, 2013
Annette Law…, Agent, Palm Harbor, FL
Fri Jun 7, 2013
Ron very thoroughly said it all.
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Most of the real estate professional who have been in businesss more than five year are investors or work very closely with investors. If an investor does not see more than $25,000 PROFIT (after fix up costs) in 60 days, they will not be interested.
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Is that fair?
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It is fair because you wanted FAST! These investors can close this week.
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Now you should ask yourself, "Is it SMART?"
You may want to meet up with a real estate professional to weigh all your options.
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Fair, in may opinion is when both parties are reasonably statified with the outcome. Only you know what reasonable means to you..

Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
727.420.4041
http://RealEstateMadeEZ.us
0 votes
Josh Barnett, Agent, Chandler, OK
Fri Jun 7, 2013
Call the signs on the side of the Road "We pay cash for houses" or call your local Cash for Homes TV ad person. Just because they offer you X amount of dollars does not mean you have to take it, but it will give you an idea of what you can get quick for it.
0 votes
Jeff A Johns…, Agent, East Bethel, MN
Fri Jun 7, 2013
Hello,

It depends strictly on your motivation and exactly how fast do you need the proceeds. It happens sometimes that someone would contact me on a situation where they need to move within 3 weeks. I have several people I work with that will cash you out within 3 weeks. The current market value can be quickly determined by using the comparable homes in the area that have sold. If the situation you are in has to be immediate than you can expect to receive around 65% of the current fair market price. If the numbers work out for you then your done. with the problem that you are trying to solve. It really comes down as to what your reasoning is... Is it to buy another home? (Than the above will not work) or is it to save something else such as any equity, vehicles? It's all about your motivation..
0 votes
Susan Hoffla…, Agent, Shoreview, MN
Mon Jun 3, 2013
Hi, extra4!

I think I know what you mean by "fair". I assume you're looking for the highest price possible and for someone to treat you fairly with regard to market value.

I'm not saying this CAN'T happen, I would just caution you that any investor that's looking for an investment is going to try to get it as cheaply as possible. And, an agent working for the investor is going to work hard toward the same goal. Just want you to be prepared to bargain on your own behalf, aggressively.

Doesn't make them bad, just makes them business people who are wanting to make a smart business decision.

Good luck~
Web Reference:  http://www.homestosellmn.com
0 votes
Christopher…, Agent, Bloomington, MN
Mon May 20, 2013
1) I think you start with how many people do in business: seek out a referral. Realtors like myself, and others who work with investors will be able to help you a lot on this topic.

2) For example, there is a universal rule almost all investors use on determining whether the price is a "good deal" or "bad deal". I can save you a lot of trouble (and more importantly time) on giving you a ballpark figure on what most investors will want for a price. That is because I work with investors and write offers all the time on homes. It may be hard for you to determine "what is fair" without understanding the mindset of an investor, and why he/she needs to buy the property at a certain price.

I would also tell you what is a "fair deal" between seller and investor, versus them just low-balling you and trying to make a much bigger profit.

3) From there you decide what will give you the highest NET: putting the home on the MLS and selling it "As-Is", or trying to sell direct to an investors. Time is not the issue, because in both scenarios you will get offers relatively fast.

4) In some cases a home is in such disrepair it is considered "un-sellable" or "un-marketable" to the average buyer. This is the point where a home starts to sell under market value, because the general consumer does not have the financial capacity or time to deal with it. I had this happen to my most recent listing in Vadnais Heights, and instead of selling to an investor my seller fixed up the home themselves.

5) But investors or cash buyers tend to be the only buyers on this type of home. In that scenario I don't think a listing agent is needed, because you should not have to pay out a commission. Quite frankly there is no marketing needed if I am being honest with you. I could get 10 different investors over there in 1 week, and all it would take is a simple email since I already have the contacts. A commission is not needed to do that. It hurts your Net, because the investor still needs to pick the home up at a certain price. If the home is priced properly you have no problem finding an investor.

As a Realtor these are the steps and process I go through with a seller like you. It is a free consult and I guarantee you will learn something out of it. Just give me a call or email me to schedule a time I can go over to the home. I have availability this week.

Chris Block
Realtor North/NE suburbs
651-307-7663
chris.block@imetroproperty.com
0 votes
Russ Douville, , Saint Paul, MN
Mon May 20, 2013
It's not clear what you consider fair, or why you are looking for an investor. Your best bet is to find a good agent and price the home properly for a fast sale.
0 votes
Debra Lach, Agent, Coon Rapids, MN
Mon May 20, 2013
This is a tough question as I would need more information to properly answer it. For example, I would need to know answers to questions like ...

What the market value is on your current home in it's current condition and would an investor be able to profit from what you are willing to sell it for, in other words, what is a "fair" price to you, etc.

Most investors I know are not as concerned about it's current condition, but are more concerned with how much money they can make after repairs, will it cash flow with a renter, etc. If you really want good advice, contact a local realtor and ask them for whatever help and advice they can give you. I am also happy to assist if you like.
0 votes
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