How fast do some investors buy homes from homeowners? Very fast, actually – some investors will offer you cash upfront for your home within at least 24 hours from the time you contacted the investor. Such investor specialize in buying homes for cash and make a living doing so because there are actually people who want hard cash in their hands without the hassles of filling up paperwork and seeking legal and real estate advice from professionals. The types of homes that can be bought for cash may be your usual family-type home (such as bungalows and two-storey residences), or perhaps condominium units used by singles and young couples with no children, and even other types of real estate properties as well.
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Some people opt to sell their real estate properties because they are facing foreclosure on their mortgage. Such real estate properties have varying levels of home equity left in them – some have very little equity left, others have quite a lot of value in them because equity has been hardly touched. Even for the worst cases – where equity has almost been depleted – there are still investor who are willing buyers for the property. The investor who wants to help prevent complete foreclosure of the property of the homeowner will negotiate with the bank initiating the foreclosure to get better terms for the homeowner. The homeowner would then have the option of selling his home to the investor.
You would be surprised what types of houses and real estate properties fast cash offer investors will snatch up given the opportunity. Even pretty ugly houses that need a lot of work to spruce them up and make them attractive again get pretty good prices from these types of investors. When the investors firm gets its hands on your ugly property, they can transform it with the right amount invested into a thing of beauty again so that it will fetch a better price when re-sold.
Oh yes, that is how these investors make a living. They buy houses from homeowners, invest in their renovation and refurbishment, then turn and sell the same properties to other people at a profit. There is nothing wrong with this kind of business – it operates on the free enterprise system and nobody deludes anyone. People who need cash money immediately profit from selling their homes and real estate properties to the investors, while the investor has to assume the risk of having to invest in the home sold to him or them. It is just part of sound business to spruce up the property in the hands of the investor so that other people will become interested in buying that property – and that is how the investor makes a living.
Some investors also specialize in no credit checks when selling properties to potential buyers. Though this means additional risk for the investor (because a good credit history usually means the other party is a good risk), there are many people who do not qualify for good credit risk for various reasons. For example, a young couple who have just started out in their respective careers would have little to no credit history to speak of but that does not mean they are poor risks instantly. Rather, they just need a chance to build up an adequate credit history over time.