So I got this house.. And I want to sell it, but I don’t know what the deal is with these Miami Home Investors.
Are they For Real? Do they actually buy homes? Are they scams? Don’t they usually try to buy my home EXTREMELY cheap?
These are all valid concerns and we answer this on a daily basis.
So I have decided to write it all down… Lay out all the secret ins and outs on what it is like to REALLY sell to a Miami Home Investor and if it is right for you.
Here we will Discuss 6 Reasons why it is a good Idea to sell to a Miami Investor
And 3 Reasons why it is NOT a good Idea sometimes.
Fun Fact.. In July 2018 there were 1,711 cash transactions done in Miami-Dade county alone.
That’s a lot of cash and a lot of Investor money.
Should You Sell Your House to a Real Estate Investor?
Should you eat broccoli?
Should you watch the Miami Dolphins on a Sunday?
What I am getting at here is that it is up to you. It is important that you know what you want to get out of it when it comes to selling your home in Florida.
It is not for everyone and we will go over all the the benefits and cons of selling to the cool people like us 🙂
Here are some of the main reasons why you would sell to Miami Investors
- Fast Closing– With cash it is very possible to close in less than 30 days. We did one Springhill Fl in 7 days. That one was for the record books. If you sell with an agent, or if the buyer is obtaining a mortgage, it will take minimum of 45 days. Not to mention the time the house will sit on the market until the right buyer comes along. That is a whole other topic.. Don’t get me going 🙂
- No Commissions– This is a BIG one. Commissions are typically 6% total. 3% to listing agent and another 3% to buyers agent. Based on a house that is sold for $421,171 the average commission paid in Miami Fl is $25,270. I don’t know about you but I LOVE saving money. Just this year alone we have saved homeowners over $50,000 in commissions they would have paid. But who’s counting.
- Flexibility & Problem Solving- Since we are the buyers and there are no middlemen we can push the envelope to meet the Homeowners needs BIG TIME. And I mean BIG TIME. There was this one time that we had a seller. His name was Jose. He did not live in South Florida and his home that we were purchasing was in Homestead Fl. It was a bit challenging because we had to deal with him over the phone a lot and the house was empty. He needed to close quick and that is exactly what we did. I believe it was a 20 day closing to be exact. We actually have a video of how it went and him getting a check the day of closing.
Also we have another story of a house we bought in Pompano which was also crazy! Check out this video I did that runs through it. - AS-IS Home Sale- Miami home Investors like us buy AS-IS. This means that it doesn’t matter if the kitchen is from the year 1922 and if the roof has a hole in it we take on those problems.
- Cash Offers-Dinero is my favorite Spanish word. Being Cuban/Puerto Rican I speak spanish from time to time and I make sure I always say… DINERO. Us Miami Investors make cash offers on the home. No banks involved, no appraisals or any of the challenges that come with it.
- Pick Your Move out Date– What happens if you live in the home and you need the money of the sale to buy your next one? So we have done this with many clients and I will give you an example of one we did in Hollywood Fl.
The owners were a Husband and Wife and they were selling the house to move to New Jersey to grow her jewelry business up there. She also had family there as well. We agreed that we would close on January 30th and she would have 30 days after January 30th to actually move out. This allowed them time to get their new place settled and move out all their valuables. That is something realtors or financed offers can not provide.
3 Reasons Why You Shouldn’t Sell to a Miami Real Estate Investor
#1: PRICE- The Famous P word. This is the main objective when it comes to dealing with investors. It is important to know that investors are in business (Buying Houses) to make a profit. This is why sometimes the price is not always as attractive as one with a realtor.
#2: Investors Are Not Required to Be Licensed- So although were are professional home buyers, it does not mean that we are required to be licensed. Since Investors are typically buying direct, there is no need to be represented by a realtor or any third party. This means that you would have to do some due diligence and ask the right questions to the Investor at hand.
Here is a previous article I wrote that talks about what questions you should ask an investor that approaches to buy your home.
Not that it matters, but we are also licensed and have a Real Estate Brokerage 🙂
#3: AVOID SCAMMERS AND RIP OFF ARTISTS- This is one of the parts of the business that makes us REAL companies look bad. There are scammers out there. FULL DISCLOSURE. You have to make sure you ask the right questions and get to the bottom of it. I wrote about it in depth but here are a few tips:
- Ask them if they have an office
- Ask them what other properties they have purchased
- Make sure their company name is registered on sunbiz.org
Here is a snapshot of the article and the link
Where and How Do I Find a Reputable Miami Home Investor to Work With?
Well the only ones you should talk to are the ones who write articles
Im Kidding Im kidding… Or am I….
Anyways, here is a very USEFUL checklist you can go by when looking for a reputable Investment company in the Miami or Ft Lauderdale Area
- Do they have a professional website? If they are not online in 2018, there is a good chance they are not serious.
- Who are they? Is it possible to read up on them and who they are? This should be found on the website as well.
- Do they have a staff or team? Not always will they have a staff or team, but if they do it, it means that they take homebuying serious. They have employees to feed.
- How long have they been doing this? Ninja Trick: Check on sunbiz.org how long they have been in business by clicking in their corporate docs. This is the company we use to purchase homes
- Check out if they have Reviews or Testimonials. Yep this is something that must be done, paints a picture of what it is like.
- Are they easy to reach? Do they answer the phone when you call them? Can you reach them by text and email? All of these are questions that should be answered with a big fat YES.
- Do they know what they are talking about? When you speak to them do they know about the local Miami Market? Ask them a few questions about neighborhoods to see if they are knowledgeable.
- Do they have a clear process of how they do business? It is important that they show you every step of the way what will happen.
IN CONCLUSION
After reading this you should be the most knowledgeable person in your community about why it is GOOD and Not so Good to sell to Miami Real Estate Investors.
We went over the
- 6 MAIN REASONS YOU SHOULD SELL TO A MIAMI INVESTOR
- 3 REASONS TO NOT SELL TO A INVESTOR
- CUTTING EDGE WAYS TO FIND THE BEST INVESTOR TO BUY YOUR HOME IN MIAMI FL
Selling your home is never an easy thing to do, however if you find working with an investor right for you, it will be more simple. With no middle man, commissions, and all cash, it really can’t get better than that. Good luck to ya !