Let’s face it. Selling your home isn’t necessarily a piece of cake. A recent customer of ours told us that “knowing how to find an investor to buy my house here in Utah has proven to be more challenging because of the increased competition.” In Utah, which was recently ranked number one in the nation for building new homes, the demand may be high—but so are the prices. In fact, the average cost of a home in Utah is approximately $325,000; hardly a comforting number for many first time buyers.
This leads you with two options. You can choose to sell it yourself or sell it through an agent. And both come with advantages and disadvantages. The average price of commission for a real estate agent can be almost as much as 6 percent; hardly a comforting number if you need to sell your home at optimal value. But a legitimate agent ideally will have years of experience. They’ll have marketing know how. And they’ll be licensed and accredited. You won’t be. But there’s one thing in common with both scenarios: you’re not guaranteed a sale. In fact, trends indicate a sharp decline in home sales in Utah by as much as 14 percent.
Enter the investor.
But what exactly does a real estate investor do? How do you know you can trust them? What should you watch out for? And how can you find an investor to buy your house?
What Is An Investor?
Plainly put? A residential real estate investor is someone who purchases a home as an investment—either to renovate for resale at a later date or to use as a rental property. In both cases, the purpose of their investment is ultimately to make a profit from it. Experienced investors know the ins and outs of the housing market. They’re aware of trends, demands and risks; but more importantly the needs of the people they’re buying from. Less savvy investors don’t have that foresight. They don’t have that experience. And above all, they frequently lack empathy. They assume real estate is a high risk gamble. It is. They just haven’t learned the ins and outs of the game yet.
How Do You Know You Can Trust An Investor?
For the most part, a reputable investor has both your needs in mind as well as their own. They know you want to sell your house quickly. And an investor wants to buy a house quickly. So it’s ideally a win/win situation.
Except… it isn’t always.
Selling your home to an investor means that you could be selling to virtually anyone, regardless of their credentials or experience. All you really have is their word. At best, you’ll find you get a fair and legitimately executed offer on your home that suits both of you within literally days. And at worst?
You just handed your deed to someone who disappeared, leaving you with a check that bounced and with absolutely no recourse.
So how do you know you’ll find a trustworthy investor to sell your home to in the state of Utah?
- Are they registered with the BBB? If so, that’s a sure sign you’re dealing with an investor who has credible references.
- Are they incorporated in the state of Utah? If not, that’s not always a red flag. There’s a number of private investors who are entirely legitimate. But it is an added sign of security.
- Do they have a website? If not, that should be a warning sign to tread carefully. If so, how thorough is their information? Does it provide you with any further information—benefits, customer testimonials or case studies?
- How familiar are they with the process of buying your home? Do they seem a little bit too eager? They should be able to present you with a no-obligation offer at best.
It might be simple enough to say “use your best judgement.” And it frequently is. But your judgement should be based on an informed choice first.
How To Find An Investor To Buy Your House
You may have seen ads on TV for home buying services. While they’re certainly legitimate, for the most part… they’re national companies. Which means they don’t always have the sort of in depth knowledge of the real estate market in Utah to ensure you get a fair deal on your home.
The same can be said for those ugly “We Buy Houses” billboards and signs you see plastered all over Utah. Again, most will be legitimate. But how do you know you’re dealing with a company who knows and understands the real estate market?
You can come to a reputable home buying investor with years of experience in real estate. One who understands your needs and will present you with an honest and fair deal based on extensive knowledge of the current market. That’s who we are. At Gary Buys Houses, we even offer a unique solution called our “Sell Now, Move Later” program. We’ll purchase your home as is, often in as little as 3-5 business days. You can stay in your home until you find a suitable alternative or even buy it back from us at a later date under certain circumstances.
Is finding an investor to buy your house impossible? No; we’ve helped hundreds of people just like you over the past decade sell their house quickly at a competitive price. But finding the right one?
That’s another story.