Before the social media actually became popular, the cash buyers for homes were being called EPs. Now, they are being referred to as the opportunity investors at times and they do this for a good cause.
Well, you should give emphasis to the word opportunity. You have to understand that these are actually the companies that buy homes from sellers who are actually in distress and should sell their property fast. They might actually offer to close on the property as fast as lightning which is often within thirty days since they don’t need to deal with the arrangement of financing. Moreover, they are providing cold and hard cash and they would also waive the inspection contingencies too. The whole transaction is also actually supposed to take place quickly. Offers often seem like the owners’ lifelines who are quite desperate to leave their homes or pay off their loans quickly.
Such cash-paying homebuyers do advertise the types of situations that they are searching for and let the sellers make that call. Know that those opportunity investors actually looking for the seller who are not able to sell or the listings have already expired. Moreover, they search for sellers who are divorcing and those who are facing bankruptcy too. They are also in search for homes that are going to be foreclosed and such sellers with employers who have also assigned them to other areas. Moreover, they are in search for those vacant homes and owners who are also evicting their tenants. Also, regardless of the condition of the house, they are still interested in the trashed or those damaged homes.
Companies would point out that they are not going to ask for such real estate commissions but sellers are able to net more through having the listing agent. The agents would usually have 125 percent of the fair market value of the home. However, you cannot get this from that fast-cash buyer.
Those operators would also process the sales in-house rather than have that outside service and they are also going to pay for such title policies or skip that title insurance as well. They are quite interested on saving every dime.
If you take that call or make one, then the buyer would then set an appointment right away to visit the property. They are going to find out early in the meeting the amount you owe on the mortgage. Realize that things actually start with this. If you still have $50,000 in debt, then it is likely that this is what they are going to offer you. They will not budge or go higher. What this means is that you will only have enough money to settle that loan balance perhaps.
