Hey, guys. Josh with Northwoods Property Resources here. We are here in Milwaukee, Wisconsin, just outside of a seller’s property. The seller is looking to relocate on a pretty fast timeline, and we’re here to see if we can help. After my last video, I just thought I’d touch on something, or expand on something I touched there in that video, and that’s why a seller might go with a home investment or a real estate investment company like Northwoods Property Resources instead of listing with a real estate agent.
So, first off, let’s just cover what a real estate agent can offer. They can offer you a hands-off process. They can offer you top dollar. That’s not really in debate. You’re going to get top dollar if you list on the market. The problem with that, you’re going to be waiting a while, especially now with interest rates being at 7.25, 7.5, I think, last time I looked. So that’s going to extend your timeline. With interest rates being that high, you’re going to have a smaller pool of buyers who can afford to purchase your property. That’s going to lead to timelines of 30, 60, 90, even 120 days I’ve seen. That’s four months. That’s a while. So if you’re moving on a fast timeline, that’s going to be a problem. In addition, you’re also paying commissions. That can be up to 6% of the purchase price. And you’re going to be paying closing costs. The seller usually pays closing costs. That’s another 2%.
So, what can a real estate investment company like Northwoods Property Resources offer instead of a real estate agent? Well, first off, you’re not going to pay commissions. We don’t charge commissions. You’re not going to usually pay closing costs. We usually cover those. But I think the biggest thing is we come in and we can work with your timeline. If you have to relocate, like this seller here in Milwaukee, we can work around that. We’re not going to be 30, 60, 90 days to close. We’re much quicker. I’ve had colleagues close in as little as seven days, and personally I’ve closed in 14 days. So we can move pretty quick. With regards to, let’s say a seller in Madison is going through a foreclosure. That’s tough. That’s a pretty condensed timeline. That’s usually three weeks is when you get the notice between when you’re noticed and the auction date. So that’s not a lot of time to work with. I don’t know of really any real estate agent that can close in that amount of time.
And it’s not all just the real estate agent. You have to work with banks. So when you sell with a real estate agent, there’s financing involved. That has to be approved. That usually takes some time. So that’s not going to work for this seller in Madison. They’re in foreclosure, they have three weeks. So that’s where companies like my company can come in, go through the options. And maybe the best option for that seller isn’t selling to my company. Maybe that’s a loan mod, or maybe that’s borrowing some money from a relative to bring the back payments up to date. So we’ll go through that with a seller and all the options, lay them all out, and then help the seller make the best decision for them. And again, that’s not always selling to our company.
There’s some other options. We can come in with creative financing. So if we can’t offer the best price on a cash offer, and that seller isn’t looking for that price, maybe we can come in with a creative offer that does work for the seller on their timeline. Maybe they’re looking to not incur a huge tax penalty by getting an all cash payment. So yeah, that’s some things that companies like Northwoods can offer over a real estate agent. If you guys are looking for more info, go ahead to northwoodspropertyresources.com. That’s my website. Go ahead and check that out and see what our company can offer you, and maybe we can work together. Talk to you guys later. Bye.