Can Someone Really Sell In Seven Days?

Can Someone Really Sell In Seven Days?
05-27-08

No matter where you happen to reside in the United States, there's a real good chance you have seen advertisements for businesses who can supposedly sell your house in seven days time. The signs for this kind of service litter the nation's highways and real estate classifieds sections. If you are like most other people you have probably wondered if such advertisements are genuine. Believe it or not, not all of these advertisements are scams and some of the better ones are actually genuine.

Many of the advertisements for guaranteed real estate sales are placed by investors who happen to have access to a great deal of capital. By virtue of their access to lots of capital, many of these investors can afford to close very quickly on a piece of property. If one of these investors decides to purchase your home they will also pay for any and all closing costs and arrange all of the paperwork. While the investor might be willing and able to close on your home in seven days time, it's important to remember that they are investors seeking a return on their investment.

Investors willing to close on your property in seven days time will not be willing to pay full market value for your property. They want to buy your property quickly because they want to cash in on the home's equity. How much the investor is willing to pay for your property depends on several factors including local market trends and the condition and location of your property. If your home is in good condition and is in average location, you can expect the investor to offer somewhere between 70% and 80% of the property's market value.

At first glance it might seem like the investor is really ripping you a new one. But when you stop and consider the costs associated with selling your home the investors offer begins to look a little better. If you enlist the help of a realtor you can expect to pay about 10% of your home's value to your realtor and for things like closing costs and a small discount to the buyer. The average home takes several months to sell and the longer your home takes to sell, the more money you lose. If your home takes seven or eight months to sell you can easily lose another 10% of your homes value.

If you sell your home in the conventional manner you can expect to lose about 15% of your homes value to various costs associated with selling and holding the property. Selling your home to an investor can actually be a very good way to get cash out of your home quickly. If you are willing to part with some of your home's equity, selling the property to an investor can be a very good decision.

Mark E. Moebius
Miljonair Homes
Custom home builder St. Louis
3451 St. Albans Rd.
St. Albans, MO 63073
636.300.9000