The sale of property doesn’t happen everyday unless you are involved in the real estate industry. Whether you are selling vacant land, a single family home, or a multi-unit apartment complex, there are different buyers for different types of property. Each time that we go to sell one of our properties, I think about who I can sell my house in Philadelphia to. Certain home buyers will appear credible on paper, but end up backing out later on for silly reasons. It is important that you do as much vetting as possible when considering offers on your property. Instead of diving too deep into contracts and offers, let’s talk about who can and will buy your house in Philly.
Should I Sell My House in Philadelphia to an Investor?
Selling anything to an ‘investor’ can sound scary initially if you haven’t done it before. That does not have to be the case. Also known as ‘selling direct’, working with real estate investors can make the process of selling your home easy and simple. They typically pay in all cash, meaning that there are no banks involved to help the investor pay for the house. Cash is King. It is true that when paying with cash, things are simply easier. The timeline to to close is usually shorter since there is no bank involved. Real estate investors will usually offer to pay your closing costs on the transaction as well. This means you say more money at the closing table. Lastly, investors usually don’t require any cleaning or repairs done on the house before the buy it. Home owners can sell their property without worry or hassle.
To sum of the benefits of working with an investor:
- Cash home buyer
- Usually they cover closing costs
- Quick close
- No repairs or cleaning required
What is an iBuyer?
This is a newer thing in the real estate world. iBuyers are real estate companies that buy your property completely online. The automation and tech features are nice, and this is most likely the future of real estate, along with many other industries. It has not quite taken off yet as a mainstream service in Philly, but is popular in other major metropolitan areas like Phoenix, AZ. For several of my properties, I debated if I should sell my house in Philadelphia to an iBuyer. However, it isn’t something that I have experienced yet. Lastly, many of the major iBuyers usually pull out of markets dramatically during times like COVID, which makes it risky working with them.
Can I Sell My House in Philadelphia to Owner Occupants?
Depending on which neighborhood your house is located in, it is sometimes more beneficial to sell your house to an owner occupant. Especially if you live in a nicer neighborhood, like Fairmount, you may find more owner occupant buyers than any other kind. In Philadelphia’s real estate market, there are more of these types of buyers flooding into the market than any other type. Interest rates are low, and they want to lock in a low rate on a 30-year fixed mortgage when they buy their next home. It may be a good opportunity to consider these a home buyer like this when reviewing offers on your home.
There are many different types of buyers in the real estate world that can help you cross the finish line, and officially complete the sale of your property. They all come with different pros and cons, but each of them can help you reach your goal. Quiet those nervous thoughts, and say confidently to yourself that I can sell my house in Philadelphia successfully. Consider all of these pros and cons when reviewing offers and making your final decision. If you are trying to sell your home, feel free to call (215) 769-9875 to receive a cash offer on your home today.
What is the next plan for your house? Many homeowners enjoy living in Philadelphia and staying there long-term. If you need to move quickly, you have options. Next time that you wonder if I can sell my house as is and move, reach out to us for more information. We specialize in providing homeowners with options.