Why Sell Your Home to a Real Estate Wholesaler?
Most people run across the word “wholesaler” first through a company like Costco or Sams Club that describes itself as a wholesaler of bulk products. They operate like this: they buy large quantities of products from suppliers and resell them to their paying members at a discount price of their storefront competitors. The wholesaler profits from the sales as well as the monthly membership fees they require to shop at their stores. The benefit to the customer is the hefty discount on products that would otherwise be full price, and the benefit to the supplier of those products is a group of repeat customers to sell to. In this way, wholesaling can be thought of as the service of finding buyers for a seller, and cheap products for a buyer.
In the real-estate industry, this service is essentially the same. Lining up buyer and seller and facilitating the transaction for a profit.
So, when selling your home, consider these benefits of working with a real-estate wholesaler:
Fast Buys, Fast Sales
A real-estate wholesaler can offer what most home buyers cannot: Fast cash offers. For a seller needing to move out quick whether because of emergency or impending foreclosure, a wholesaler is the best person for the job. Wholesalers operate a network of buyers and sellers that are eager to do business. If you choose to sell to a wholesaler, you can expect an offer on the home in as little as 48 hours, and the sale of a home to happen from three to six weeks. According to this Zillow posting, the average home sale in the U.S—when working through traditional home-selling personnel like an agent—takes 55-70 days. This means working with a wholesaler can save you 1-1.5 months of home-selling headaches!
Wholesalers operate a network of buyers and sellers that are eager to do business.
Save your credit rating
The speed of a real-estate wholesaler can especially benefit someone who is facing a difficult financial time. A foreclosure on your record is a credit killer. It can significantly hurt your chances with a lender and stays on your credit report for seven years, haunting your future chances of securing a loan. If you are falling behind on a mortgage or facing foreclosure, working with a wholesaler can allow you to pay back the mortgage and preserve your credit the next time that perfect home presents itself.
Selling to a wholesaler is the best option for tight financial situations
Save money on agency commissions
Traditionally, working with a real-estate agent when selling a home is the right way to go. They offer their clients a sophisticated network of buyers through their listings and help a seller secure a much higher price on the home than selling it themselves. However, their service comes at a price. The percentage differs by agency, but you can expect a real-estate agent to take about 5-6% of the sale price.
There is no such commission when working with a wholesaler. The offer you receive is the amount you will receive, plain and simple.
Sell the home as-is
If the property be worth it, wholesalers are willing and ready to buy homes under any condition. Major issues like water or fire damage would usually prevent you from selling the home altogether. Smaller inconveniences like piping problems or stained carpeting are easier to fix but could cost you time and money that you may not have.
Luckily, wholesalers want to take the problem out of your hands. They will act as a middleman and do the work for you to find an eager buyer in a short time frame. In fact, many wholesalers work closely with home flippers that are actively seeking fixer-uppers. Wholesalers ensure you do not have to worry about any kinds of repairs or nightmare circumstances preventing a sale.
Thanks for reading! If you are interested in utilizing the benefits of working with a real-estate wholesaler, contact us!
contact@vprealestatellc.com
Phone: (812) 431-5846