Should You Really Sell To An Investor?
Is the only reason homeowners (in trouble of foreclosures) sell to investors because it looks better on their credit report than having been foreclosed?
What are some other logical reasons a troubled homeowner should sell to a investor?
I do understand that either way the homeowner is going to lose their house, but are there other reasons why working with an investor is better?[ Edited by LSDH on Date 09/23/2003 ]
Lets see...
Foreclosure
or
Satifaction of Mortgage Obligation with a couple slow or late pays....
Huge difference on your credit and both parties win....
The investor can also work out some kind of lease agreement with the person being foreclosed on so that they do not have to leave their home right away, or ever if the are good renters !!!!!
Also, the homeowner may walk away with some money in his/ her pocket. Otherwise they get escorted by the sheriff's dept when they come knocking...
Yes, the homeowner usually does better by selling to an investor than just losing everything.
You are in foreclosure, you are starting to freeze up. The pressure is mounting. Soon you and all of yours may be standing at the curb.
A qualified person finaly gets in touch with you. If you have equity he can arrange to save the house cure the foreclosure.
If you do not have any equity which is rather rare these days. He can get you out of the property find you a rental, move you and yours in and give you enough money to carry while you start up again.
And for what it is worth reduce the impact of a foreclosure by preventing it from happening.
Of course as it must in life. An occasional wolf in sheeps clothing comes to the door and removes the equity from you to him. Or he screws it up so bad the foreclosure goes thru anyway as the negotiations on the short sale fall thru or basic non performance.
I make the assumption that we all fall into the first catagory. You will do a lot of stuff for free but you will also pick up a few earned dollars.
This cannot be learned in school it is learned at the door. But schooling is important at least a BA. At your age learn this basic and by the time you have spent a few years at it you should be in pretty good shape with a cushion of properties to support you no matter what you finaly decide to do. Enjoy Lucius
don't forget houses in disrepair. Houses you can't sell without fixing up. In that situation it is completely win - win.
The home owner who wouldn't be able to fix his/her house in time to sell it needs an investor. In such a case it's either loose everything to the bank or give it to an investor get some money from the house and save the credit? EASY choice...