Real estate investors typically look for good deals that can make them money. This might work in your favor, depending on your situation. Perhaps you already have an offer to purchase your home from a qualified investor or you're seeking an investor to purchase your home to help you avoid foreclosure. Maybe you need an investor to help you unload the family home you've inherited. Whatever the case, there are some important things you should know about the process to ensure you get a fair deal that is mutually beneficial.
Contact a Real Estate Agent
Speak with a qualified real estate agent who deals with investors on a regular basis. An experienced real estate agent can tell you what to expect during the sales process, help you price your home for the current market conditions and might even be able to set you up with a local investor. Some real estate agents work with investors and real estate flippers who might have an interest in purchasing your home, remodeling it and selling it for profit. Real estate agents often receive requests for leads on investment properties, and working with an agent could put you in touch with the right buyer.
Contact property investment companies in your area and inquire whether there is any interest in your home. If you know your property is located in a prime area, you might attract the attention of real estate developers interested in rebuilding on your property. Real estate developers are typically listed in the yellow pages, or you can find local developers in your area by entering keywords such as "real estate developer" into a browser search.
Search for Investors
Find real estate investors in your area by searching local real estate investing clubs, such as Bigger Pockets. Both of these organizations are online and make it easy to find investors in your area. Companies and individuals might advertise with signage, newspapers and local television ads that they buy houses.
Make It Legal
Seek the counsel of a real estate attorney to assist you in formulating a contract for your sale. Some investors are more interested in getting the best price than watching out for your welfare. If you are selling to an investor because of financial difficulties or looming foreclosure, this is especially important. Additionally, if you are hoping to rent or buy back your home from an investor, it is vital that the terms of such an arrangement are carefully spelled out in a legal agreement.
If you sign an investor's contract without the guidance of an attorney working on your behalf, you could inadvertently sign away your rights to your home.
- If you sign an investor's contract without the guidance of an attorney working on your behalf, you could inadvertently sign away your rights to your home.
Sara Melone is a mother of three and a graduate of UNH. With prior careers in insurance and finance, photography, as well as certifications in fitness and nutrition, Melone draws directly from past experience and varying interests. She contributes with equal passion to birth journals, investment blogs, and self-help websites.