How selling your house to a real estate investor compares to your other options
So, thinking of selling your house? Selling can be frustrating, stressful, and a lot of work - no matter what the market is like. No matter your situation or reason for selling, there is an option for you. Remember, you do have options! The 3 Options for Selling Your Home. There are three options for selling your home, so let’s dive into what they are, pros, cons & what could be best for you.
Selling with a Real Estate Agent
The most common way to sell your home is with a real estate agent. It’s probably what you’ve done before, your family has always sold with an agent, or you know someone personally who is an agent. Most people who sell their home list with an agent, but you should know there are pros and cons. When you list with an agent everything will be taken care of, all of the paperwork, offers, etc. They will negotiate on your behalf and (a good agent) will try to get the highest price possible for your home. This is great if you have a house in good condition, in a desirable area or if it’s a sellers market. On the flip side, selling with an agent can be a lot of work. It takes time, you’ll have to deal with showings, open houses, repairs, renovations, and keeping the house clean! One you finally accept an offer, you’ll have to wait for closing, which can be months. You will also have to pay a commission to both the buying and selling agent. Using this method to sell will generally cost you the most money.
You Can Sell your House Yourself
It is possible to sell your house yourself, this is also called a FSBO sale. There are many websites available for you to list your home, you will deal with buyers directly, and take care of all negotiations. You’ll also have to take all the photos, gather all information and important details about the house. If you don’t know what your home is worth, you’ll have to do a lot of market research, or pay someone to do an appraisal for you. Marketing the home for sale is totally up to you, so you can do as much or as little as you want! The more you do, the faster it should sell, but the more work and time you’ll have to put into it. If you know the market well and are familiar with the sales process, this can be a good option for you, but be advised it is a lot of work to take on.
Selling Your House to a Real Estate Investor or Private Home Buyer
There are many local real estate investors who are available to purchase your home quickly. These can be people who buy them & fix them up, who will hold as a rental property or invest in with a partner. There are many reputable real estate investors in every area, just make sure to do your research and find one who is willing to work with you, make you feel comfortable and answer any questions you may have. The process of working with a private home buyer is simple, quick, and usually just takes one walkthrough to get your offer.
They will give you a cash offer based on the condition of your home, the amount of work it needs and comparable sales in the area. If you accept, you can choose a closing date that works for you. This is a great option if you need to sell quickly, as many private home buyers can close in a little as one week. On top of a quick and easy sale, these buyers will buy your house as-is, and in any condition. You don’t have to do any repairs, cleaning, painting, staging, photos or renovations. All you have to do is pack! When you find a reputable buyer, they will work with you to help you through the process. Many will pay your lawyer fees, and can even help with moving costs and loans if needed. Because you’re selling direct to the buyer, you also won’t pay any fees or commissions. If you house is turn-key, renovated, or you’re looking for top dollar, this is not the option for you. You would be better suited to list with a realtor and get a higher price. A private home buyer is looking for a house they can renovate and add value to.
In Conclusion
What’s most important is that you know your options and do what you feel most comfortable with. Do your research, ask questions and you’ll find the solution for you. Best of luck in your home sale!
