Selling a house directly to a professional real estate investor often comes with many misconceptions. People sometimes come with ideas about what to expect based on stories they may have heard through the grapevine or random anecdotes. But the real truth is that most real estate investors are wonderful people, just like in any profession, and passionate about what they do. In our latest post, we will discuss four common myths people at times have about selling their homes directly to an investor.
Some people like yoga. Some people like selling products or binging British dramas on Netflix. Others love designing houses, and other people love buying and selling them. At Oahu Home Buyers we love to help homeowners while fixing up properties that need some extra love. Real estate is our passion as is helping homeowners in Hawaii! Below are four myths we would like to clear up about selling your house to an investor right here in the islands…
You Won’t Get A Good Price
When selling your house to an investor in Hawaii like us, you might have the idea that you aren’t going to get a fair price for your property. While we naturally can’t speak for everyone in our industry, we can say that we’ll give you the best price we possibly can. Others may try to squeeze every nickel out of you, but that’s not how we operate. Sometimes this means offering a different strategy than the traditional cash-out so that we can give you even more than you had originally hoped for (ask us for details). We’re an open book in how we come up with our offers, so we’ll go over them in detail together. We look at local neighborhood sales, market trends, and the condition of your property as well as any important surrounding information such as whether we need to stop your bank or condo association (AOAO) from foreclosing. Whatever we come up with, the decision on if and how to move forward is always yours!
Investors Are Con Artists
This is also emphatically not true. Many “investment” buyers are families looking to invest in a rental property or people looking to flip houses because fixing up homes is what they truly love to do. We know most of the regular investors in Hawaii and consider them friends. Of course, in any market (not just Hawaii) there will be investors to be cautious of which is true of any industry, not just real estate. Just know that if you’re looking for a solution to a real estate problem, a professional investor might have the exact answer you need, so at least hear them out and then look for testimonials or ask for referrals if you’re still unsure.
You’ll Be Hit With Hidden Fees And Costs
Again, we can’t speak for every real estate investor out there, but the majority operate openly and directly. It’s easier on both the home seller and the investor if everyone’s cards are on the table. We don’t come at the last minute with hidden fees — in fact, we cover all of a seller’s closing fees anyway, and since there are no agents with our direct purchases, there aren’t any commissions to be paid (though we can still buy your property if you’re working with a Hawaii agent). Our goal is to provide an enjoyable, stress-free transaction that makes everyone happy we came together.
The Closing Will Take Longer Than Promised
When you work with an investment buyer such as Oahu Home Buyers, a closing date is never promised until the offer has been fully accepted, but we will still work toward your preferred closing date (some sellers want to wait a few months instead of sell right away). Once we have a fully executed contract in place with our local title company, we will be able to run the title research (prelim report) right away and close on the property as quickly as possible. Of course, if issues like back taxes or liens need to be resolved, then either we or the title company will reach out to the appropriate parties and get them on board to keep the closing on schedule.
At the end of the day, working with an investor might be the best way for you to reach your goals or solve your current predicament. A professional real estate investor will know how to work with the title company to get things handled quickly. The entire selling process can be completed in as little as a week as opposed to the traditional process of hiring an agent, listing it on the MLS, holding multiple open houses, waiting for a buyer, hoping their loan goes through and then going through the escrow process.