If you’ve ever watched shows like HGTV’s Flip or Flop, you know that flipping is big business – but it’s probably not your business, which puts you in a difficult situation if you own a property that requires major renovations to make it marketable or tenant-ready. Flipping a house (buying a property that needs work, fixing it up, and selling it for a higher price than one paid for it) requires extensive real estate knowledge and a knack for getting remodels done quickly and affordably.
So, you might be wondering what the advantages of selling a house to a flipper – or investor – are over simply selling the property yourself or through an agent? There are quite a few benefits to this strategy, including:
- It saves you the time, money, and stress of bringing the house up to code, or getting it in showable condition – these repairs can be extensive, and expensive.
- It gives you a way to get the cash in your pocket in a matter of weeks instead of the months it could take for a buyer to come along.
- It saves you money on paperwork fees, possible closing costs, and the agent’s commission (typically around 6% of the selling price).
- It allows you to leave things behind that you may not want to – or can’t – move.
Depending upon your personal situation and how much time you have to wait for your property to sell, a flipper could be just the solution you’re looking for.