Ask a Realtor: Should I sell to a company that buys houses?
Dear Joan: I have not put my house on the market yet, but my Realtor has helped me find a perfect house I want to move to. I am working to get mine ready to list and sell but I still have more work to do to get it ready. My Realtor told me I could try making a full price offer (more than I wanted to pay) and make it contingent upon my house selling quickly.
I asked him to talk to the other Realtor and see if an offer like that might be accepted and the answer came back as a resounding “no.” I am hurrying to get my property ready for pictures and showings, but I am afraid the one I want will be gone shortly and I will miss out. I have heard of companies that buy houses quickly so that the seller can move on in a relatively short amount of time, but I am not even sure that would work in my case. Any suggestions?
Dear Perplexed: Is there any way you can pay for professional help to get your house ready to sell very quickly? Or are you already doing that? I agree, that still might not be quick enough. And, you would still have to offer top dollar to have any hope at all that they would wait for your house to sell.
You are right, there are iBuyer divisions of companies that will buy your home, but I am sure you realize it is at a discounted price because they want to sell it again soon for a profit. There is one possible solution, other than simply hoping your dream home does not sell soon, and that is a new company available to Realtors where they will buy the home you want and guarantee the sale of your home within six months. If you qualify, and the homes fit in their parameters, they will actually negotiate a good deal for you, since they offer cash, quick close, and most sellers will deal more with an offer like that.
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They will guarantee a prenegotiated price for your home in up to six months and in the meantime, your Realtor can attempt to sell it for more. You move into the new house and pay a prenegotiated rent, and then your home can be made spotless for showings. There are some fees involved, of course, but they can often be largely offset by the good price on the purchase of your new home. This option does not work in every price range and every situation, but sometimes it is a “dream saver.” Check with your Realtor to make sure you have looked into all of your options. It is a whole new world out there in real estate. And remember, there will always be another opportunity in the future. Best of luck to you!