Real estate investors typically have signs all over the place that claim ‘we buy houses in Inglewood,’ regardless of condition. Sometimes, they do have stipulations on what types of properties they will buy. For example, they may not want to purchase homes that have been burned or are infested with bugs. Either way, these investors are looking to buy houses in the area for a variety of reasons. Often, it’s because they want to fix them and renovate them to sell them for a high profit later.
These investors are becoming popular with homeowners who don’t want to wait to close the deal and get their money. Traditional means require waiting months for a real estate agent to list and show the house enough until people want to buy it. Then, you have to wait for the buyer to get all of their documents in order and get approved for a loan. It’s time consuming and can be very stressful.
House-Flipping Process
House-flipping companies hire investors to visit homes and make offers. In most cases, you will talk on the phone or through email about your property. They might ask questions or let you describe it in your own words. They don’t charge you anything. If they believe your house meets all their buying criteria, they will probably set up an appointment to view it.
Once they’ve done the walk-through, they will decide if your house is a good investment for them. They provide you with a written offer which should be fair, but is likely to be below market value. Remember, they are cutting you a check for the amount they quote; they don’t go through lenders. You’re not obligated, but if you accept the offer, they close with a reputable title company, and you can get your money in as little as a week.
For more information visit us at John Medina Buys Houses.
