In general, going the traditional route to sell your house – that is, using a real estate agent, going through multiple showings, and waiting for a buyer to secure financing – will often get you a higher sale price. But it takes much longer, and you lose a good chunk of money to fees and commissions. In certain situations, then, the benefits of selling directly to an investor in the Greater Toronto Area far outweigh the cons.
Real estate investment companies and many individual investors have the wherewithal to pay cash when they buy a house. So if you sell to an investor, you’ll often receive a full cash payment on the closing date when the dotted lines are signed.
Although a cash payment from an investor may be a little less than what you would receive through the traditional process, it is much faster. You also won’t have the worry of a deal falling through when a buyer can’t secure financing.
One of the most attractive of the benefits of selling directly to an investor in the Greater Toronto Area is that these deals are often “as-is.” An investor is often willing to buy your house in its current condition, and you won’t have to sink a bunch of money in repairs and renovations before you can sell it. Further, you won’t have to endure – or pay for – any inspections. Not only does this speed up the whole process, but it can save you some significant expenses as well.
When you sell directly to an investor, you won’t be using an agent, and so you won’t have to pay the agent’s commission. The amount you are offered for your house is the actual amount you receive at closing. If you need cash fast and need to know exactly how much you’ll receive from the sale of your house, this can be a huge plus.
As indicated above, another of the benefits of selling directly to an investor in the Greater Toronto Area is a fast closing. If you sell to an investment company that specializes in cash house purchases, closing can happen in as little as seven days from the time of offer. The sale doesn’t depend on the buyer getting financing or appraised value or inspections. Basically, you bypass all these things that slow down the sale process, and so it is greatly expedited.
Power of Sale Avoidance
For some people, this can be a huge benefit of selling directly to an investor in the Greater Toronto Area. If for whatever reason – divorce, injury, layoff, medical bills – you’ve been unable to keep up with mortgage payments, the lender may be threatening to repossess your house. So if power of sale is on the horizon, selling directly to an investor may be a way out for you.
You can avoid ruining your credit and possibly even putting your family on the street. Of course, this may not be the ideal solution, but it can get you out of a seemingly hopeless situation and let you keep your dignity intact. And if you really don’t want to move out of your home, you may not have to. Some investment companies will assume the mortgage and allow you to remain in the house and rent it from them.
Obviously, the benefits of selling directly to an investor in the Greater Toronto Area are numerous and valuable. The problem is, though, many inexperienced sellers just don’t know how to go about selling to an investor. That’s where we can help.