Despite the economic slowdown, analysts are predicting a rebound in the housing market. Home prices have begun to stabilize and are expected to rise modestly over the next few years. If you’re thinking of selling your home, now may be a good time to do it yourself instead of using a real estate agent. Here are some reasons why:
No Need for Repairs or Upgrades
When you sell your home through a real estate agent, they will often recommend that you make repairs or upgrades before putting it on the market. This can be costly and time-consuming. With the cost of building materials skyrocketing, there’s even less incentive to do any repairs. In fact, you will be lucky to see a 50% to 60% return on investment for any repairs or upgrades that you make. Selling your home as-is can save you a lot of time and money, and there are companies that will even buy your house for a fair price.
No Need to Stage Your Home
You can save on the cost of staging your home by enlisting the help of companies that buy homes for cash. These companies will do a walkthrough of your home and make you an offer based on its current condition.
Home staging can be expensive, costing anywhere between $1,800 to $2,500 per month. With the average sale taking about two months to six months, that’s an extra $3,600 to $15,000 that you’ll have to spend. This is even higher in areas with a high cost of living and many vacant houses.
More Control Over the Sale
When you sell your home by yourself, you will have more control over the entire process. This includes setting your own price, negotiating with buyers, and deciding when to show your home. You are not tied to a real estate agent’s schedule, and can take action at your own pace.
When selling through a real estate agent, they will often suggest a listing price that is higher than what you may be hoping to get for your home. As the seller, you have more control over the sale price of your home when you sell it by yourself. You can set a price that you feel is fair and negotiate with buyers until you reach an agreement.
Save On Commission Costs
The realtor commission is about 6% of the sale price. If you sell your home for $250,000, you’ll have to pay the agent $15,000. While you’ll still have to pay for advertising and closing costs, these costs are typically much lower than the commission fees that real estate agents charge. You can expect to pay between $500 and $600 for advertising your home. Closing costs will vary depending on where you live, but they usually range from $300 to $700. Even if you factor in these costs, you’ll still save thousands of dollars.
If you’re in danger of foreclosure, selling your house without a realtor can help you avoid this devastating event. When you work with a real estate agent, the process can take months, and this is often too late to stop the foreclosure process.
Selling your home for cash can help you avoid foreclosure by allowing you to control the sale of your home. You can set the price, choose the closing date, and work with buyers directly. This gives you the power to sell your home quickly and for a fair price.
Ideal for Complicated Sales
If your home is in a complicated situation, such as an inherited home that you cannot manage, selling a home as a result of divorce, homeowners moving to assisted living, or any other type of difficult sale, you may want to consider selling your home without a real estate agent. If you’re not up for dealing with the challenges that come with these situations, it’s best to sell it to a cash buyer to avoid the hassles and focus on moving on with your life.
You Skip Negotiations
When you sell your home for cash, there’s no need to negotiate. The buyer will make you an offer and if you accept it, the sale is complete. This can be a great way to avoid the back-and-forth of negotiating. It’s also a good option if you’re not sure how to negotiate or if you’re worried about getting taken advantage of.
Selling Your Home for Cash Is Fast
When you sell your home through a real estate agent, it can take weeks or even months to find a buyer. And that’s if everything goes according to plan. If there are any problems with the sale, such as the buyer backing out or the mortgage lender not approving the loan, it can take even longer.
When you sell your home for cash, the sale can be completed in as little as seven days. You just need to find the best time to sell your house. Selling your home for cash is also convenient if you need to move quickly due to a job change or other life circumstances. Some companies that buy homes for cash will even help you with the moving process.
Selling your home by yourself is convenient because you can do it on your own time, and you don’t have to work around the schedules of real estate agents and buyers. This is a great option if you have a busy schedule or if you live in a remote area. It’s also a good option if you want to avoid the hassle of showing your home to potential buyers. When you sell your home for cash, you can have the money in hand within a week or two of signing the contract.
When you take the time to research all your options, you may find that selling your home for cash is the best option for you. If you’re thinking of selling your home in the near future, be sure to consider all your options before making a decision.