Unexpected Offers to buy your home
It’s not an uncommon scenario. A homeowner pulls into the driveway and sees a handwritten note taped to their front door, or finds one in their mailbox. It contains an offer to buy their property for cash, without the involvement of financial institutions or other parties. The writer identifies themselves as an investor and provides a phone number to call for more information.
While these offers are made frequently, homeowners are rarely sure what to make of them. If you’ve received one, here’s what you need to know…
For some homeowners, handwritten cash offers hold great appeal. First off, they typically contain assurances that the buyer will purchase the property “as is.” This means the seller isn’t required to do any cleaning, perform any repairs, or delve into general preparations. These offers may also mention that there are no fees required, and suggest leaving banks out of the process. Lastly, the writer will frequently promise that the seller will receive a good price (or fair market value) for their home.
It’s easy to see why many homeowners are tempted by the promise of a profitable, no fuss, no muss sale. Unfortunately, these offers are often too good to be true. Here’s why.
Your home’s true value
Generally speaking, the investors who are distributing handwritten offers are property flippers. They acquire homes, fix them up (usually within a short period of time), and sell them for a profit. Keeping costs down is one of the keys to their success, which means it’s in their best interest to buy homes from sellers who will accept prices below market value. There have even been reports of flippers targeting homeowners who they believe to be having financial issues.
The truth is, anyone can claim that they’re making a good offer. To determine the fair market value of your home, it takes local real estate expertise. A variety of factors—including your property’s unique features and recent sold prices for comparable properties in the area—must be carefully considered. Only when you have a detailed analysis can you make a truly informed decision.
Why you need an advocate
If you ever find yourself wondering whether to sell your home directly to a property flipper or work with a real estate expert, here are the facts.
First off, agents have an intimate knowledge of the local market. Determining your home’s value, helping you price it strategically, and providing you with the information you need to make informed decisions is all part of the job. So is ensuring that you navigate your sale with ease and (ultimately) get top dollar for your property.
An experienced agent will act as your advocate at every step—from listing to negotiations to closing. The compensation they receive is typically a percentage of the home’s sale price. It’s to a Realtor’s benefit to ensure that you not only sell your property, but that you do so for the highest sum possible.
The bottom line
Are you thinking of selling your home? Whether you’re hoping to find a buyer for your property as-is or maximize its appeal by preparing it for the market, look for an experienced agent. Our advice? Work with a professional who’s committed to helping you secure a great price—and think long and hard before responding to just any offer that lands on your doorstep.
For over 35 years, our clients have trusted us to minimize risk, offer unbiased opinions, and ensure their best interests are served. Contact us today to talk about your needs, by emailing us at email@example.com or calling us at 416-441-2888 ext. 772.