In certain situations, selling your house in Los Angeles can feel like you’re walking through a maze with no clue how to get out. Homeowners often find themselves in a predicament trying to decide whether to sell their houses to a local investor or hire a Los Angeles real estate agent.
As a homeowner selling your house, think about what is most important to you. Is it getting the highest possible price? Is it getting the house sold on an explicit timeline? Or is it all about convenience, where the process is as easy and stress free as possible for you?
Both options of selling your house have their pros and cons, and it is essential to understand the differences in order to make the right decision for your property.
Sell Your House Fast By Working With An Investor
When selling a house to a local investor, homeowners can expect a faster and easier process. Investors are always looking for properties to buy, so they don’t waste time when they find a property that meets their criteria. They often have cash on hand and can close the deal quickly, which can be a great relief to homeowners who need to sell their houses fast.
Last year, we worked with a property owner looking to sell a Los Angeles rental property in Los Angeles because he was tight on cash, limited in available time, and lived 5 hours away from the property– all these reasons made it impossible for him to maintain and repair the property. With an eye toward retirement, the property owner was looking to free up his daily property management obligations by selling off his rental properties in disrepair.
A Simple Way to Sell Your House As-Is
Another advantage of working with an investor is that they buy houses as-is. This means that homeowners don’t have to spend money on repairs or renovations before selling their houses. Investors typically will not make any requests for home owners repair anything. Investors are willing to take on properties in any condition, which is excellent news for owners of rundown or distressed properties.
For the last 20 years, he lived and worked 5 hours north of the property he was planning in Los Angeles, CA. Because he was so far from the rental property and had never hired a property management company, he never responded to tenant repair requests which after many decades had left the property vacant and in poor condition. At this stage, he longer had the out of pocket funds to repair the house, so he decided to sell his house in Los Angeles as is.
Sell Your House Without Commissions or Fees
When selling a house to an investor, homeowners also don’t have to worry about commissions or fees. Real estate agents charge a commission on the sale of a property, which can be as high as 6%. This commission can significantly reduce the amount of money that homeowners receive from the sale of their property. When selling to an investor, homeowners get to keep all the money from the sale.
In the case of the above property owner, because the house was in such disrepair and he new he would have to sell it for a much lower price. The roof clearly needed a replacement and the back of the house required major foundation repairs. With a much lower sales price expected, the seller understood how it made sense to eliminate the 5% to 6% sales commission.
Sell Your House Fast, No Matter the Situation
Working with a local investor can also be beneficial for homeowners who find themselves in difficult situations. Investors are often willing to work with homeowners facing foreclosure, bankruptcy, divorce, or other challenging situations. They understand that these situations can be stressful and are willing to help homeowners sell their houses quickly and easily.
What are some reasons our clients decided to sell a Los Angeles house?
Inherited Properties | Code Violations |
Failed Home Sale | Bankruptcy |
Damage | Bad Tenants |
Divorce | Moving Out of State |
Stop Foreclosure | Retirement |
Expensive Repairs | City Liens / Tax Liens |
Try Selling Your House for Top Dollar on the MLS
However, working with an investor also has its downsides. Investors often buy houses at a lower price than what homeowners would receive if they sold their houses through a real estate agent. This is because investors need to make a profit and take into account the costs of repairs and renovations.
Homeowners who are looking to make a significant profit on the sale of their property may not find working with an investor the best option. If getting the highest price is your primary objective and you have a well-maintained home, consider working with a real estate agent to put in on the market.
The MLS is the Right Way to Sell Some Properties
On the other hand, hiring a real estate agent can be beneficial for homeowners who are looking to sell their houses at the highest possible price. Real estate agents have a deep understanding of the local market and can help homeowners set the right price for their properties. They also have access to a larger pool of buyers, which can increase the chances of selling the property quickly.
If you have a property that has been been recently upgraded or simply, well-maintained and you aren’t in a rush, hire a qualified real estate agent to find you the right buyer with a competitive price offer.
Handling All of the Details
Both professional buying companies and real estate agents will typically take care of all the paperwork involved in the sale of a property. This can be a significant relief for homeowners who don’t have the time or expertise to handle these tasks. That said, it’s important to understand who is responsible for what before signing on the dotted line. You can rest assured that when you work with Fair Sale Homes, we will handle all of the details.
The Cost of Hiring a Los Angeles Real Estate Agent
Hiring a Los Angeles real estate agent can also have its downsides. Real estate agents charge a commission on the sale of a property, which can significantly reduce the amount of money that homeowners receive from the sale. In addition, a real estate agent will provide recommendations for the home owner to complete in order to boost the appeal and attract a strong price for the property. For example, agents will request that homeowners to make some repairs and renovations before putting the property on the market, which can be expensive and time-consuming, especially for homeowners dealing with difficult properties or situations.
Different Situations Call for Different Solutions
There is no right way to sell a house in Los Angeles. Selling a house to a local investor or hiring a real estate agent both have their pros and cons. Homeowners need to consider their specific situation and need to make the right decision about how to sell their property. If they need to sell their houses fast, don’t have the money for repairs, or are facing difficult situations, working with an investor may be the best option.
If they are looking to sell their houses at the highest possible price and have the time and money to invest in repairs and renovations, hiring a real estate agent may be the way to go. Ultimately, the decision should be based on what is best for the homeowner and their specific situation. At Fair Sale Homes, we can help you evaluate your property, providing you with the data you need to make the best decision for your situation. There is never any hassle or obligation to sell your house. Give us a call today! (626) 863-7006