The good old fashioned way to real estate is an inefficient selling process. Selling with a San Antonio real estate agent doesn’t work for everyone. Imagine your home was built in 1970. Lets say the roof was repaired many times but not replaced. Just that alone will derail your sale. Yes, I’m sure you’ll be able to find a buyer, this is especially true if you price it low. However, finding a buyer that is willing to sign a contract is only 25% of the battle because the vast majority of home buyers finance a house. This is because most humans don’t have one hundred and twenty thousand dollars cash sitting in their safe at home. So a bank will be required and one of the many pitfalls is making sure it passes the bank inspection.
The bank inspection is evil if you ask any seller for their opinion. This is something that holds true even for new home builders and even distinguished custom home builders (aka luxy homebuilders). When it times for the inspection a professional inspector gets hired by and works for the bank, this is mandated by federal law to protect consumers. Well that bank inspector will try to find every little detail wrong with the house. If he doesn’t find anything it will look like he didn’t do his job. This alone is a whole section of it’s on. (stay tuned for our “everything you need to know about home inspections” blog category coming soon) For this example we picked the roof. This element of a home is one of the most common deal breakers. This is because the bank needs to secure their investment. A new roof is usually given a lifespan of 20 years. If your roof is older than that banks may deem it beyond it’s “expected life cycle” and just ask for a new roof. The bank does not care who pays for it as long as their finance amount is not more than the value of the home minus their security thresholds. SO this leaves you negotiating with the buyer, you usually have to give him a credit for a new roof with some that I’ve seen as high as fifty thousand dollars! Imagine if the house is only worth about $70k then the deal is dead in the water. Banks also ask you politely to use a licensed, bonded, and insured contractor and get warranty. That’s what really drives the price up. That is also understandable because they will be lending $120,000 to the buyer and they want to make sure the buyer does not walk away from a negative equity situation. You may be asking yourself – I thought the house was worth $70k now you’re saying $120k. We’ll jump into that in a later section.
This is where we come in If speed is your priority then we can buy your house at a price that makes sense to both of us.
Selling the traditional method may not work especially on inherited items…in our case we are talking about property. Many people inherit property that they just don’t want or care for. Other times inheriting a property is not as good as one might think because it could be in a state, county or city you have never heard of. If the inherited house is 500 miles away from you in place you do not know a single soul in then how will you fix it? How will you rent it? How can you try to flip it? Yes you can hire someone but that take lots of money that some people that inherit a house might not have. We will break this out in future articles here on SellMyHomeTX.com
Again, this is where if speed and convenience matter the absolute most then local real estate investors make sense.
