In Atlanta, a “fixer upper” property would be described as a house that needs more work than a normal retail buyer would be willing to perform for the price. Because retail buyers are mostly looking for move-in ready homes, it brings many questions to the mind of a seller of a fixer upper property. Two of the most popular questions a seller in Atlanta might ask are:
1) Do I need to hire a real estate agent? and 2) Do I need to do any work on the house to sell it?
The answer to both of these questions is no. When you sell using a real estate agent or realtor, you are charged a typical commission rate of 6 to 7% of the sales price at closing.
It’s common in the Atlanta market for a buyer to get a loan and ask you to subsidize between 2 and 3% of their closing costs. In most cases, a buyer can’t qualify for a conventional mortgage on a fixer upper or handyman special type of home. The underwriting guidelines for mortgages state that the house must be appraised, and homes that need a lot of work usually appraise very low. Selling a fixer upper home is difficult in the retail friendly world of agents, mortgages, appraisers, and home inspections.
On the other hand, real estate investors don’t care about any of the items found in the previous paragraph. A real estate investor is a visionary and sees value in what the home might become if some money is spent restoring it to like new condition. Investors usually don’t care about mold, sinking foundations, outdated interiors, etc. When you sell a fixer upper or handyman special type of home to an investor, the benefits to a seller can include:
- Investors buy in cash: Most real estate investors buy fixer uppers with cash money. No banks are involved in a typical investor sale.
- Seller can choose the closing date: This is beneficial to the seller in many ways. Perhaps you want to close in 7 days, no problem. But what if you want to close in six months? Again, no problem. Investors like CobbHouseBuyers will close any time convenient for you.
- No real estate commissions or fees: That’s right, our all cash offers don’t have any fees or commissions attached.
- No seller paid closing costs: We pay all our own closing costs making it simple for you the seller.
- Nothing to fix up: Investors factor repairs into their all-cash offer.
Selling a fixer upper in Atlanta to a real estate investor makes a lot of sense for a seller. If you have any questions about the process, please fill in the form to the right or call us direct at (770)766-7415.
Cobb House Buyers purchase properties for all cash in the following areas: Alpharetta, Roswell, Marietta, Kennesaw, Acworth, Powder Springs, Smyrna, Emerson, Cartersville, Hiram, Dallas GA, Canton, Woodstock, Dunwoody and Sandy Springs. We purchase single family, multi-family, land, and condos. If you or someone you know has a fixer upper to sell in these North Atlanta areas please let us know.