Numerous factors could prompt you to sell your property, and fortunately, you have various alternatives at your disposal. Engage the services of a conventional real estate agent, endeavor to sell your property on your own, or explore the option of selling to an investor in Minnesota.
Understanding the Buyer
In Twin Cities, Minnesota, seasoned property buyers often outpace traditional multi-family buyers in terms of closing speed, and typically offer full cash payments. Conventional multi-family property acquisitions usually necessitate banking qualifications, mortgage underwriting time, property inspection time, and the buyer may ultimately fail to qualify. Additionally, there are generally no commissions remunerated to either the buyer’s or seller’s agent, resulting in substantial cost savings running into thousands of dollars. Ordinarily, the commission rate is 3% per side, meaning that for a $200,000 property sale, you would be responsible for paying $12,000 in commissions alone! Professional multi-family property buyers may also waive transaction fees, and if charged, they are relatively low in contrast to the commission or closing expenses that you would have to pay otherwise. They also facilitate mail-away closings, which is particularly advantageous for out-of-state property owners.
No Preparation Necessary
In Minnesota, seasoned property buyers commonly acquire real estate in its existing condition. As the seller, this implies that you need not be concerned with making repairs before the closing date or incurring any unanticipated expenses. There are firms that even exempt sellers from property inspections, rendering the transaction genuinely as-is.
Professional buyers of multi-family properties are motivated purely by investment considerations. They have no intention of occupying the property immediately after the closing date. In general, most multi-family property buyers grant a move-out period after closing, enabling your tenants to vacate at their own leisurely pace. This is immensely beneficial, particularly given the rapid closing timeframes involved. Additionally, you may not even have to clean the multi-family property when you depart. Your tenants can simply pack their personal belongings and any furniture they wish to retain, and leave the remainder of the property as is.
Sell With Confidence
When you decide to engage a professional multi-family property buyer in Twin Cities, Minnesota, you can avoid the emotional upheavals commonly associated with the conventional sales process. Say goodbye to the exasperating, impromptu phone calls in the middle of dinner, asking if you can show your property. Bid farewell to the concerns over your tenants leaving their home spick and span every single day before heading to work, just in case there’s a showing while they’re gone. You can also forget about possibly bumping into a buyer’s agent or their clients, or having to field questions from them that you really shouldn’t answer in any case. Moreover, you can avoid buyers quibbling with you over which furniture your tenants are taking and what they’re leaving behind. With a professional buyer, you can sell your property without any of these usual headaches, stress-free.
Selling your multi-family property to a professional buyer is a remarkably straightforward process. These seasoned buyers will guide you through each step of the process and typically offer streamlined, straightforward contracts in the form of simple as-is purchase agreements. What’s more, selling to professional buyers can reduce your exposure to legal risks. You can say goodbye to worrying about buyers discovering something that you were unaware of or not disclosed, or that they don’t like about the property or the locality. Under most conventional real estate contracts, buyers may be able to sue you if they feel they didn’t receive all the information, or if they think the facts were misrepresented. With professional multi-family property buyers, you can rest easy knowing that they are already well-informed about the state of the property and are willing to assume that risk.