A wholesaler offers homeowners an option when they are trying to sell a property; typically, these houses are in a state of severe disrepair and often don’t garner their market value with a traditional listing on the MLS. Seen as bargains by typical buyers, offers, though rare, are usually insultingly low offers. Wholesalers are dedicated to building strong networks and maintaining a list of ready buyers, ready to purchase and rehabilitate properties, and willing to pay a fee to the wholesaler for their service.
Serving as a connection between the seller and buyer, the wholesaler acquires a contract on your property. Wholesalers then locate an end buyer, assigning the sales contract on the property over to them. The assigned buyers almost always buy the home immediately, ready to close quickly with cash in hand.
Read on as we discuss the three fundamental differences between property wholesalers and Rhode Island real estate agents.
An agent has no guarantees to offer, not even about when or even if your property will sell, one of the significant differences between property wholesalers and Rhode Island real estate agents. In addition, further depleting your profits are any necessary repairs if you don’t pass the inspection. An agent simply cannot guarantee how much any repairs or updates to the property will cost. Of course, if the buyers don’t walk away from the deal altogether, you could offer to deduct the remaining repairs at closing as a credit to the buyers for issues discovered during an inspection. Often, buyers in this position counter with ridiculously overpriced estimates of the repairs and demand further deductions. However, a wholesaler will offer your house for sale in as-is condition; you can forget your worries about passing the inspection. Wholesalers like those at I Buy Houses Rhode Island can indeed provide you with a closing date for your property upfront. Then, you can begin planning your move.
Wholesalers not only save you time with their fast closings, but they can also save you a significant amount of money because they don’t work on commission; one of the main differences between property wholesalers and Rhode Island real estate agents. The job you are hiring a real estate agent for, in essence, is to bring a buyer to your door. However, wholesalers like those at I Buy Houses Rhode Island offer to get you buyers, with none of the waiting or efforts to prepping for a traditional listing on the MLS or jumping through hoops to help your buyers gain approval for their mortgage loans. As a result, you will realize additional savings because you won’t be left to continue to pay the monthly bills while holding onto the property for months, waiting for a buyer.
Real estate agents understand that your must appeal to buyers; therefore, they set about advising you on the steps to take, which all come out of your pocket. Unfortunately, agents can be expensive to work with, prepping the property for showings and professional photography for marketing before the home is ready to list. Add to this the costs of listing, passing inspections, and closing costs. But, on the other hand, it will not cost you a thing upfront to sell your home to a Rhode Island property wholesaler, like those at I Buy Houses Rhode Island who require none of the above.
There are critical differences between property wholesalers like I Buy Houses Rhode Island and Rhode Island real estate agents, which can greatly benefit homeowners in situations that do not fit the typical mold for a conventional listing with a real estate agent. Find out for yourself today with no obligation how the wholesalers at I Buy Houses Rhode Island can help you. Call I Buy Houses Rhode Island at 401-240-1313 or send us a message to learn more.