In the real estate world, wholesalers act as a valuable resource for homeowners struggling to sell properties that are in serious disrepair. These houses often languish on the market listed through the Multiple Listing Service (MLS) because their condition scares off potential buyers. Traditional offers, if they come at all, are typically far below the property’s true market value, leaving the seller frustrated and stuck. Wholesalers step in to offer a different solution. They understand the complexities of distressed properties and are adept at identifying motivated sellers. Through hard work and dedication, wholesalers build strong networks of rehab investors – individuals or companies who specialize in purchasing and fixing up these types of properties. Wholesalers keep these investors ready to act, knowing that time is often of the essence for both the seller and the rehabber. By connecting these two parties, wholesalers create a win-win scenario. The seller gets a fast and fair cash offer, and the rehab investor acquires a property at a price that allows them to make a profit after renovations. The wholesaler, for their expertise in bringing the right buyer and seller together, earns a fee for their service.
Serving as a connection between the seller and buyer, the wholesaler acquires a contract on your property. Wholesalers then locate an end buyer, assigning the sales contract on the property over to them. The assigned buyers almost always buy the home immediately, ready to close quickly with cash in hand.
Read on as we discuss the three fundamental differences between property wholesalers and Fort Myers real estate agents.
Guarantees
An agent has no guarantees to offer, not even about when or even if your property will sell, one of the significant differences between property wholesalers and Fort Myers real estate agents. In addition, further depleting your profits are any necessary repairs if you don’t pass the inspection. An agent simply cannot guarantee how much any repairs or updates to the property will cost. Of course, if the buyers don’t walk away from the deal altogether, you could offer to deduct the remaining repairs at closing as a credit to the buyers for issues discovered during an inspection. Often, buyers in this position counter with ridiculously overpriced estimates of the repairs and demand further deductions. However, a wholesaler will offer your house for sale in as-is condition; you can forget your worries about passing the inspection. Wholesalers like those at Core Real Estate Properties can indeed provide you with a closing date for your property upfront. Then, you can begin planning your move.
Savings
First, unlike agents who earn a commission based on the final selling price, wholesalers make their profit through an assignment fee. This fee is typically a flat rate or a percentage of the eventual sale price negotiated between the wholesaler and the rehab investor. This structure incentivizes wholesalers to find a buyer quickly and efficiently, because their earnings aren’t dependent on the highest possible sale price.
Secondly, wholesalers bypass the traditional MLS listing route. This eliminates tasks like property prepping, open houses, and accommodating buyer showings. Wholesalers focus on finding cash buyers interested in investment properties, expediting the closing process significantly. This translates to you saving money on holding costs like mortgage payments, utilities, and property taxes that accrue while waiting for a buyer through a traditional listing.
Expenses
Real estate agents understand that your must appeal to buyers; therefore, they set about advising you on the steps to take, which all come out of your pocket. Unfortunately, agents can be expensive to work with, prepping the property for showings and professional photography for marketing before the home is ready to list. Add to this the costs of listing, passing inspections, and closing costs. But, on the other hand, it will not cost you a thing upfront to sell your home to a Fort Myers property wholesaler, like those at Core Real Estate Properties who require none of the above.
There’s a big difference between selling your house through a traditional agent and working with a property wholesaler like Core Real Estate Properties. Real estate agents excel at finding the right buyer for a property at top market value. This is ideal if your house is in good condition and you have the time to wait for a traditional sale. However, what if you need to sell quickly, your house needs work, or you’re facing a difficult situation? That’s where Core Real Estate Properties can step in. Property wholesalers specialize in finding solutions for homeowners in unique circumstances. They can close deals fast and often buy houses “as-is,” saving you the time and expense of repairs. Find out today if Core Real Estate Properties can help you sell your house on your terms. There’s no obligation to chat, so call 239-360-3176 or send us a message to learn more.