Selling your home in Los Angeles can be a bit overwhelming, especially if you want to sell it as-is. However, it’s important to know that selling your house to a credible property buyer is very possible. When selling your home to a property investor, you can save you a lot of time and money while avoiding the stress of a traditional sale where the agent and buyer will request a lot from you.
In this blog, Fair Sale Homes will provide some guidance on selling your property directly to an investor (also known as a direct buyer) and help you achieve a successful sale of your Los Angeles house as-is.
Why Sell Your House As-Is?
There are so many reasons why Los Angeles homeowners choose to sell their properties as-is. Some are dealing with difficult situations such as divorce or foreclosure, prompting a fast sale of their home. Others want to sell their homes quickly without making repairs or paying commissions. Either way, the process has many great benefits for property owners when they need it most. For some homeowners, the financial benefits are most desirable, while for other homeowners, the fast timeline and stress free process is what attracts them to sell the property as-is.
Common Reasons Why Home Owners Sell As-Is
| Foreclosure | Job Relocation |
| Deferred Maintenance | Retirement |
| Foundation Issues | Divorce |
| Fire Damage | Job Loss |
| Code Enforcement | Failed MLS Listing |
Run the Numbers for Your Property
The first thing you’ll want to do is to get your numbers in order. What is your home really worth? How much will repairs cost? What have other properties in your area recently sold for? When was the last time the house was inspected or appraised?
Way too often, home owners only focus on the sale price, while completely ignoring the below costs in the process of selling the house.
- Repairs
- Upgrades
- Home staging
- Agent commissions
- Closing costs
Using this information, you’ll be able to determine if a direct sale is right for you. If your house needs a lot of work and you are tight on the cash in your bank account to do that work, it is often wise to avoid listing it on the MLS. Repair costs add up really fast, leaving you with a much smaller profit when all is said and done.
A direct sale can help you sell your house as-is, while putting more money into your pocket than you may think. Keep in mind that property buyers usually offer a lower price than the market value to factor in the cost of repairs and upgrades. But even if you’re getting a lower price, the benefit is that it’s the property buyer — not you— who will take on the responsibility of repairs and upgrades to the house. You’re not only saving money that comes out of pocket, but also time and the stress in dealing with it all.
Once you run all the numbers, a genuine offer from a direct buyer will add up and feel more fair.
Research Credible Property Buyers
When choosing to sell your home directly in Los Angeles, you’ll want to research credible property buyers. These are individuals or companies that specialize in buying houses in any condition without the need for repairs, upgrades, cleaning, or real estate agent commissions.
You’ll want to do your due diligence on any buyer you choose to work with, as not all real estate buyers are the same. Check their reviews and ratings online, and ensure there aren’t any red flags you should be watching out for. You should also check if they have any lawsuits or complaints against them. This will give you peace of mind knowing that you’re dealing with a credible property buyer who will offer you a fair price for your house.
At Fair Sale Homes, we are extremely grateful for our clients throughout the Los Angeles area and care about what they want to achieve in selling their house. In working closely with our clients, we intent to deliver on our values our Fairness, Respect, and Education. As such, we have built a solid reputation for our business.
Be Prepared to Sell and Plan to Move
Although you don’t need to make any repairs or upgrades when selling your house directly to a company like Fair Sale Homes, it’s still important to prepare for the change. This means getting a plan in place if you will be moving out of the home. For example, consider where you want to move next and plan for the move. Some companies like Fair Sale Homes will gladly help you find a new place to rent or own, point you to reputable moving companies, and help guide you.
If the property sold is an investment property, you will not have as much to worry about especially if have agreed to leave the tenant in place for the new owner. If you have made a commitment to have the property vacated, then you should get this completed for the buyer since a vacant property will be a condition to close the sale.
At Fair Sale Homes, we are happy to provide flexibility for our sellers in unique situations. We will gladly work with your on closing date that makes sense for you. If you want to close in 14 days in order to move immediately, we can facilitate that. If you want to close in a couple of months, that works for us as well. We will work on your schedule to ensure a smooth sale and transition for all parties. We can even handle any unwanted items you wish to leave behind.
How Much $$$ You Can Expect to Receive
You may have a good idea of what your Los Angeles home is worth, but you’ll have to factor in the repair costs too. Some property buyers will offer pennies on the dollar. However, Fair Sale Homes is much different. We pay fair prices based on market value, recent sales, and estimated repair costs.
When Fair Sale Homes compares houses on the market, we consider the unique condition of each property. Some questions we keep in mind in determining the value are the following. Are the comparable properties considered new construction, major rehabs, light rehabs, or as-is homes? Also, are the comparable homes of similar living area, living layout, and lot size?
When working with any direct buyer, be sure that their offers are transparent. Meaning that they can easily justify their offer price and aren’t trying to lowball you in any way.
Closing With a Direct Buyer, Stress Free
The closing process involves transferring the ownership of the house to the buyer and receiving the payment. The mortgage balance, liens, and property taxes will get paid; and the remainder will go to the seller. You should work with a real estate attorney or a title company to ensure a smooth and legal transfer of ownership. At Fair Sale Homes, we rely on a reputable and local title company to facilitate all of our transactions.
You should also make sure that you have all the necessary documents and paperwork, such as the deed, mortgage statements, and tax records, ready for the closing. This will help expedite the process and avoid any delays or complications.
Selling your home as-is in Los Angeles is completely possible and can save you a lot of time and money, depending on your situation. You should research credible property buyers before making any decision about how to sell your house in Los Angeles. With the right research, preparation, and patience, you can sell your house as-is through an easy and stress free experience, and move on to the next chapter of your life without any more wasted time or money. Give the team at Fair Sale Homes a call today to learn more about what we can offer you! (626) 863-7006