You’ll hear of companies that claim ‘we buy houses in West Virginia,’ and you may have wondered about these investors. Are they legitimate? How do they work? Is it safe to use their services? These questions are essential to ask yourself because they help you determine if you’re doing the right thing to fulfil your needs.
Legitimate
Property investors are legitimate and legal. The investors want to buy houses below market value so that they can fix them up and sell them for a profit. This is where most people get confused or have misconceptions. They think that because the investor sells the house later and makes more money, it is a rip-off. However, if you are in dire need of money and you can’t afford to renovate your property before you sell it, you may want to sell quickly to an investor. These companies give you an out so that you can get money to pay off the mortgage and get something more affordable. You aren’t likely to get market value for your home, as money will need to be spent on it. However, you can get a fair offer and are in full control. If you aren’t satisfied with the offer you get, you have the option to turn it down and consider other means of selling.
How It Works
You contact the investor, either by phone or internet, and they schedule a time to meet with you at your house. They do a walkthrough of the place and then quote you a price. They will put this in writing and if you agree to it, you can accept the offer. They will draw up the paperwork, and you sign it. You can usually close on the deal within a week or so instead of waiting months. However, you aren’t obligated to accept the offer; if you want to try another investor or try a realtor, you have that right.