Should I Sell My House to an Investor in Philly? 3 Common Myths

large modern philadelphia property with lights and shrubbery

Selling your property is a big decision. For most people, selling a house involves the exchange of one of your biggest assets. So it’s important to ensure you do it safely and in a way that works best for you (and your finances). While you can sell your house at auction or via a real estate agent, another popular route is to sell your house via a real estate investor.

Choosing to hand your property over to a real estate investor can be an excellent decision. It’s a great way to sell a house fast, skip the commission fees, and all the while still get a good return on your property. But, unfortunately, there are myths about selling your house to an investor. These concerns lead some homeowners to question whether it’s a good idea.

Keep reading to learn more about, “Should I sell my house to an investor?”. In this article, we’ll dispel the common myths about selling to a real estate investor in Philadelphia to help you decide if it’s a good choice for you.

Myth #1: You Can’t Trust Real Estate Investors in Philadelphia

man and woman sitting at a table discussing paperwork

Real estate investors are like any other occupation – doctors, dentists, lawyers, bakers, etc. There are some great people you love working with, and some you don’t. If you (or someone you know) has had a bad experience with an investor, that doesn’t mean the entire industry is bad. Today, property investors are simply passionate people that see potential in your home, just like any other real estate agent.

If an investor approaches you about selling your property, consider what they have to say. Most investors offer a quick, reasonable arrangement for a fair price. Plus, at Brotherly Love Real Estate, we cover all closing costs and fees for most of our transactions. This helps you, as the seller, save time and money. It can be a win-win situation and, provided the company is legit, there’s no reason not to trust it!

Myth #2: There Are Hidden Fees & Costs

Hidden fees are ever-present when selling your home. Working with a real estate agent to list your property comes with commission fees, conveyancing costs, taxes, and closing fees. Depending on the type of sale, other fees can appear, too. According to Zillow, the closing costs on a $217,000 property can be between $17,000 to $22,000.

Selling your home to an investor shouldn’t come with any fees other than what’s stated. Because the process is quicker and doesn’t involve traditional conveyancing, the fees are often lower than selling via a real estate agent. This can make selling via an investor cheaper than a real estate agent.

While we can’t speak for all real estate investors, we’re very clear about our fees at Brotherly Love Real Estate. Honesty and transparency are our code of honor to sellers. We lay everything out there from the very beginning. So, you’ll never need to stress over any surprises or hidden fees. Give us a call at (215) 326-9208 to discuss your property, get a quote, and learn what your closing costs will be.

Myth #3: Real Estate Investors Only Give Low Ball Offers

two people exchanging cash in hand over a desk

Another common myself about selling a house to a real estate investor is that they only give lowball offers. While some may try their luck with a lower price, this isn’t always the case. Most investors (including us at Brotherly Love Real Estate) offer a fair price that suits the property.

For example, if money is owed on the property or there are some unfavorable characteristics, a lower offer may be given than if the home was sold on the open market. However, it’s important to remember that selling via an investor is usually quicker with significantly less fees. So, the price offered can be more favorable than it seems.

Brotherly Love Real Estate buys multiple houses in Philadelphia each year. We do our best to offer a price that works for both parties. Our offer comes with a full explanation of how the figure was reached. This includes details of renovation costs, holding charges, and other fees that will be incurred after purchase. We also include a net sheet that details how much money you’ll get from selling a house via an investor.

Plus, if, after negotiations, we can’t agree on a price, we’ll still help you sell your home by connecting you with other investors.

Should I Sell My House to an Investor?

When it comes down to it, working with a real estate investment company can be a quick and easy way to sell your home. Whether it’s right for you often depends on your investor offer and how much money you’ll walk away with.

But it’s important to remember the other benefits of selling a house to an investor in Philadelphia as well. For example, saving on closing costs, selling quicker, or contributing to something better in the neighborhood (like a new development).

While selling via an investor may seem unconventional, a good investor will help with the entire process. At Brotherly Love Real Estate, we complete the entire selling procedure in just a couple of days. While it’s fast, it’s not rushed. We guide you through the entire process to ensure you’re kept in the loop. We also make time in the process for investigations and examinations to take place on the property. This ensures our numbers are double-checked, giving you a 100% concrete, good-faith offer on your property.

If you’re curious about what your property is worth and how quickly you can sell your house in Philadelphia, give us a call at (215) 326-9208!