Do you reside in Los Angeles and are on the
search for ways to sell your home fast?
The first thing that comes into most seller’s mind is to contact a realtor and list their property for sale.
While it is not a bad option if you have adequate equity in the home and have a lot of time to wait for a potential buyer, you might be in a position where you know you need another solution.
Selling your property through a real estate agent in this day and age could mean months of the home sitting on the market while you continue to make payments.
One excellent solution to sell house fast Los Angeles is by doing business with real estate investment firms that usually provide an array of options.
Here are some of the options you may want to consider:
Sell Your Property For Quick Cash
Most of the real estate investors work with private funding which enables them to purchase your home quickly.
They don’t have to go through a loan approval process and wait for some financial institution to decide whether they are eligible for funding.
They can usually buy a house within a few days of you getting in touch with them. In most cases, they will evaluate your property, conduct some research and make you a cash offer in not more than 48 hours.
Most of the time, if you are looking to get all cash, you’ll have to settle for a lower amount, and this is understandable considering they are putting up hundreds of thousands and they need a significant return on their investment.
They have numerous options on what to do with their money. To sell house fast Los Angeles, your home needs to be a potentially worthwhile investment for them.
Sell Your Property on Terms
If you wish to look at more creative ways to work with a house buying company, you can get a higher total sales price for your property. One of those options is to sell your home by owner financing it to the company.
In most cases, this we buy houses Los Angeles option will allow you to sell your property very fast, usually within a few days after the initial contact.
If the house buying company doesn’t have to put up all cash, they can put better terms on the table as they don’t have to abide by their private investor’s criteria.
They can also get creative in structuring the deal to ensure that it is a win-win for both parties.
Lease Option Your Property to the Company
This is another creative option, but it only works if your home is in excellent condition. Most real estate investors are not willing to spend money in repairs on a home that they do not own.
However, if your property doesn’t need any maintenance or repairs, then a lease option could be an excellent sell house fast Los Angeles option.
Similar to selling your home on terms, the transaction in this type of deal can be finished in a few days.
You might as well consider leasing your home to an actual occupant instead of a real estate investor, but it’s important to know what this option would entail.
When you lease your home to an individual who is going to reside there, you are simply becoming a landlord.
While some individuals do not mind dealing with ‘tenants and toilets’ you need to sit down and consider whether you can handle being on call 24 hours a day to deal with the tenant, not forgetting issues such as maintenance, collecting late rent, evictions and other headaches.
On the other hand, a real estate investor will already have prepared for all aspects in regards to dealing with tenant-related issues. Another important thing to consider is how quickly you can sell the property.
When you choose the lease option to a we buy houses company, the transaction can be completed in just a few days. However, if you choose to do it on your own, it can take weeks or even months to find an ideal tenant-buyer.
Keep in mind that during this period, you will have to spend money and time marketing your property, showcasing it, screening the potential tenants and buyers.
At the end of the day, it’s up to you to assess whether you can afford to delay selling your property for a while.