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There can be any number of reasons for deciding to sell investment properties. It may be worth a lot more than it was when you initially made the purchase or maybe it costs more to maintain than what it is bringing in. Some decide to sell investment properties simply because it no longer fits in their life plans. Selling investment properties can be complex and confusing if you are not sure where or how to get started. Trying to sell or keep rental property is not an easy decision. There can be advantages and disadvantages to both. Ultimately, once you decide to sell it’s tough to know how to find investors to sell to. Here are five useful tips for selling investment properties.
The public record’s office has already done all the hard work for you if you are looking for a real estate investor in your area. They have a list of nearly every sale that occurs in the region. Each county is different in how they grant access to public records, but they are accessible. Begin by finding the location of your local county assessor’s page, or public records office. When houses are purchased using financial institutions there are two documents recorded with the county. First, the deed which will show the transfer of ownership, and secondly the lien from the loan. If you look through the recorded sales, those with no information about a lien being placed because of the loan were purchased by cash sales. You can also search local title companies, some do charge a fee. They can provide a list of properties that were sold without mortgage lien.
A real estate agent can talk to you about your decision to sell or keep rental property. They can also help you find an investor in your area. Most of the time, real estate agents are knowledgeable of local cash buyers and property investors. Some agencies work directly with investors who flip homes. They often work with investors or handle requests for leads looking for investment property. In some cases, talking with a real estate agent can help connect you with a potential buyer.
One way to sell investment properties is to go through a real estate auction. For many, this seems a bit easier than trying to move the property through private sales. Auctions are effective for selling pretty fast, as they are intense. They can create a sort of urgency around getting the property sold. Oftentimes, sellers can even get a little higher price when selling investment properties at auction. You’ll need to find an auctioneer and visit with them about their specific processes for moving properties through the auction. However, it’s important to note that even though many investors may purchase at auctions, there is no guarantee it will sell so be sure to have another plan in mind.
A local cash buyer or wholesaler is often the best choice once you decide to sell investment properties. They will buy the property as-is. This means you do not have to make any repairs or stage the property in any way. They can make the cash purchase no matter what kind of condition it is in. They will come to your location and do a quick assessment of the property, then make you an offer. If you take the offer, they will pay you cash and handle all of the paperwork. This can save you even more time, effort and money in the long run.
If you’ve already dealt with the decision of whether to sell or keep rental property and you decided to sell, these five tips can help you find an investor. They will understand how difficult the decision to sell investment properties really is and work with you closely.
At Sesa Properties, LLP, we focus on building long-lasting relationships with real estate investors. If you need to sell or buy an investment property, you’ve found the right people! We’ve been in the real estate investing business for years. Our business focuses on closing fast and getting cash in your hands.
Have a question about our process? Need to sell an investment property ASAP? Give us a call today at 216-750-3132, or visit our website for more information! We’d love to connect with you and answer any questions you might have about selling investment properties in Cleveland.