If you are looking for a quick and easy sale of your Pittsburgh real estate, you may consider selling to a “we buy houses” company. These are typically real estate investors who specialize in buying properties that need some repairs or need to sell quickly for some reason. Here are 5 things to consider when selling to a buyer/company like this:
- You will probably be selling at a discount to retail value. Retail value is the price you might get if you list with a realtor and sell on the open market. Investors are buying properties to make a profit and one way they do this is to buy at a lower price up front. This discount is the price you pay for the convenience of a quick and easy sale.
- Not all “we buy houses” companies are equal. Some of these companies are the direct end buyer whereas others are trying to turn your property to an end buyer at a markup. Make sure to ask if the buyer is the one who is actually closing on the sale or if they are trying to bring in another buyer to complete the sale. Charles Beech Properties is an end buyer and is not trying to turn your house to another buyer.
- If the buyer is getting inspections, find out what kind of inspections and why. Inspections are typical/expected when selling through a realtor. For a quick sale to an investor, it’s less common. Charles Beech Properties will view your house prior to making an offer. After the offer is accepted, we typically only get a sewer line inspection and maybe a foundation/structural inspection.
- How much “hand money” or “deposit” is the buyer putting down with the contract? If the buyer is only putting down $10 or $100 they’re probably not very serious. $1000 should be the minimum and at least 1% of the sale price should be expected.
- How is the buyer paying for the purchase? If they’re paying with their own available cash or via a “private lender” this is better for you than if they are using hard money or bank financing. Charles Beech Properties buys with their available cash or through private lenders. No approvals are needed from a banker, appraiser, or inspector. This is advantageous to the seller.
Hopefully this helps you make an informed decision on your sale of Pittsburgh real estate. If you’d like a fair, “as-is” cash offer on your property, please call Charles Beech Properties at 412-339-2929.