5 Things You Should Know About Selling Your Multi-Family Property to a Philadelphia Investor

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Selling Your Multi-Family Property

There are many reasons you would want to sell your house, and you have different options for selling. You could use a traditional licensed realtor, try to sell your property for sale by owner, or sell your property to a Philadelphia real estate investor. {5 Things You Should Know About Selling Your Multi-Family Property to a Philadelphia Investor}

Understanding the Buyer

In Philadelphia, Pennsylvania, professional multi-family property buyers typically close faster than traditional multi-family property buyers and usually pay total cash. Standard multi-family property purchases usually require qualifications from banks, mortgage underwriting time, and property inspection time, and the buyer may not end up qualifying in the end. Usually, there are no commissions paid to a buyer’s or seller’s agent, which means thousands of dollars in savings. The usual commission is 3% per side, so if you sell your property for $200,000, you will have to pay $12,000 in commissions alone! Local multi-family property buyers also may not charge transaction fees; if they do, they are deficient compared to the commission or closing costs you would have to pay otherwise. They also provide mail-away conclusions, which is lovely for out-of-state owners.

No Preparation Necessary

Professional property buyers in Pennsylvania will usually purchase real estate as-is. As a seller, you do not have to worry about house repairs before closing or any other additional expenses you were not planning on. Some companies do not require inspections which makes it a genuinely as-is transaction.

Extended Occupancy

Professional multi-family property buyers are in it for investment purposes. They are not expecting to move into the property on closing. Most multi-family property buyers will allow a move-out timeframe after closing to allow your tenants “ready to move” to relocate at their own pace. This is extremely helpful, especially with such “quick house sale” timeframes. Also, you may not even have to clean the multi-family property when you leave. Your tenants can pack the items and furniture they want to keep and leave the rest.

Sell With Confidence

When you decide to use a reputable multi-family property buyer in Philadelphia, you will not worry about going through a roller coaster of emotions. There are no frustrating, middle-of-dinner phone calls asking if you are available to show your property. You don’t have to worry about tenants leaving their homes spotless every day before heading to work, just in case there is a showing while they’re gone. You don’t have to worry about possibly running into a buyer’s agent or their clients or dealing with them asking you questions that you really shouldn’t answer anyway. You also don’t have to worry about buyers arguing with you over which furniture your tenants are taking and what they are leaving.

No-Risk

Selling property to a professional multi-family property buyer is exceptionally straightforward. They will lay out every step of the process and usually have shortened, specific contracts that are simple as-is real estate purchase agreements. You will also have lessened exposure to legal risks. You won’t have to worry about the buyer finding something you didn’t know you didn’t disclose or something they don’t like about the property or the neighborhood. Under most traditional real estate contracts, there is a potential for the buyer to sue you if they feel they didn’t get all of the information or if they think the facts were misconstrued. Professional multi-family property buyers already know the state of the property, and they are willing to take on that risk. {5 Things You Should Know About Selling Your Multi-Family Property to a Philadelphia Investor}

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Call “Buying Property 215” today at [215-359-6090] or send us a message to discuss selling your multi-family property to a Philadelphia investor. We can go over your property and let you know its market value and get you on your way to selling your property.

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