So you have a home that you want to sell fast, and you may or may not have the funds or time to do all the repairs necessary for a quick sale on the MLS. At HighestCashOffer.com, we have a number of ways for you to sell your home in a non traditional sense. It makes a lot of sense for our customers to work with us instead of a realtor when they need to sell a home as is.
In pre-internet days, selling your house privately required you to jump through an absurd number of hoops. Without access to the buying market, you had little choice but to work through realtors who could connect you with the right people. With estate agents comes even more hoops: fees, and commissions that can be erased if you sell your house as-is. The online property market is buzzing with activity, so the old rules of realty no longer apply.
The Top 5 Reasons to Sell A Home As Is
-1) Cash is King
Cash buyers aren’t the rare breed you might think they are, and they bring some attractive benefits. With no bank lording over their purchase, your home may change hands sooner than you expect. The interest on your next mortgage will shrink with the large upfront payment you get out of the deal, too.
-2) Repairs and Inspections
Repairs and remodeling can increase your return on investment by 100%, but only if they’re chosen wisely. According to a Wall Street Journal study, the average 50-year-old house can chew up as much as $140 000 in major maintenance: a cost that doesn’t necessarily deliver on its returns. If you’re buying another home, that undoes any hard work you’ve done to settle your mortgage, leaving you in debt at a time when you’re trying desperately to evade it. Older homes are even harder to bring to a state worthy of inspection. Selling as-is negates those burdens, letting you sell in record time.
For situations where you have inherited a home with a ton of work necessary to make it livable or rentable, it makes good sense to sell your home to a real estate investor that has cash on hand. It will save you tons of headaches, and can take the burdon of paying taxes, the mortgage, or other unforeseen renovation costs that can end up costing you tons of money in the long run.
-3) Hidden Realtor Fees
Realtors charge a large chunk of the property’s cost for their time. Typically, they take about 6% in commission, half of which goes to the broker. Hidden fees can sneak into that percentage, with a flat rate being charged if you don’t find a buyer.
95% of home buyers begin their search online, and you have access to them from your living room. Sites that offer realty services can often sell homes in a third of the time it usually takes. This can deliver a sale in as little as three weeks, but there’s an even cheaper option: rudimentary FSBO listings cost you nothing, and some aggregators allow free listings, too.
-4) Closing Costs
Hidden costs like outstanding liens, transfer taxes, real estate attorneys, and title insurance can be charged to the buyer when you sell your house. Without lenders in the picture, you can save yourself both time and money, leaving you with the returns you deserve.
-5) Closing Faster
Selling through realtors can keep your money in purgatory for a month or more, whereas cash transactions only need a completed title search before the deal is put to bed. Through realtors, deeds and escrows can only be completed if:
- Buyer inspections and contingencies releases have been completed
- The lender has appraised the property
- Pest inspections, roof certifications, and title policies are done
Selling your home as-is to a real estate investor pushes you over the rockiest section of the selling process far more easily and quickly, leaving you and your family feeling as serene as a Zen garden. It’s not the best option for some, but for many the process is quicker, easier, and far less stress free. In most cases the money you lose is extremely nominal, and when you factor in the time it takes to close, other investments with the cash you will receive can more than outweigh the money lost.
Looking for a cash offer on your home? Give us a call or input your information on our offer page here!