When considering selling a house, a standard method is listing the home with a licensed real estate agent. Over the last couple of decades, two other routes of selling property have gained popularity; for sale by the owner and selling the house directly to a real estate investor. Each home-selling option is different; a method that works for one property seller may differ. The three popular ways of selling property are:
- You can list the house with a real estate agent.
- Sell your house on your own (for sale by the owner).
- Sell the property directly to a home investor.
List a Home With a Realtor
Listing the home with a realtor can provide the highest sales price but comes with fees and stipulations. Listing the house with a realtor can provide the highest sales price but comes with costs and stipulations. When listing a property with an agent, the seller is responsible for the commission of both the seller and buyer agent; this is equivalent to six percent of the sales price, divided up to three percent for each agent. The agent commission does not include sales tax.
Listing a property with a realtor also includes a list of demands and stipulations, such as completing home repairs, preparing the house to be staged and shown to potential buyers, pesky inspection periods that can end the transaction, and financial contingencies for the buyer to obtain funding. Suppose you’re a property owner with the resources to complete any task and repair and have the time to allow the property to sit on the market, which can take multiple months. In that case, listing the home with an agent will be the most appropriate route, but not every seller has the time or money for the traditional home-selling way.
For Sale By Owner Real Estate
Many homeowners may consider selling their property for sale by the owner at some point; this route may be very tempting because it eliminates agent commissions and other fees. Most of the time, for sale by the owner, doesn’t require home repairs, but it truly depends upon the buyer. An enormous issue with selling your house FSBO is knowing your property’s value and the proper marketing techniques to locate qualified buyers. Using the FSBO route may be difficult for most individuals because it involves negotiating the sales price and completing all required paperwork. For sale by the owner, real estate provides the seller complete control of the real estate transaction, but having that control may not always be a good thing if the homeowner isn’t aware of their property value.
Real Estate Investor
There is a method of selling your house directly to a real estate investor; it allows the homeowner to have control over the situation, similar to an FSBO transaction but also allows the seller to market the home to qualified buyers properly. Selling your home to a property investor eliminates the requirements of home repairs, property inspections, and even showings/walkthroughs. When a home-seller utilizes a cash house buyer like sellmyhomefastphiladelphia.com, these companies charge no fees or agent commissions, and most of the time, they cover all the closing costs. Instead of waiting months for the transaction to be finalized like the traditional home-selling route, cash buyers can close on the home fast, typically between two and three weeks. Using an investor is simple; agree upon a sales price, sign an agreement of sale, and allow a local title company to do all the difficult work of clearing the title and acquiring all the required documents.
- Pay no fees, realtor commissions, or closing costs.
- Complete no repairs, inspections, or showings.
- The seller conducts no marketing and spends zero dollars locating qualified buyers.
- Buyers offer a quick home sale, closing within three weeks.
- Easy transaction; the title company does all the hard work.
Review Your Options
Selling a property is a significant decision; reviewing your options is essential to determine the best route for your family. All options have pros and cons; one path involves the available time, money, and resources. Discuss your scenario with loved ones and get their feedback before deciding your selling route. Contact a qualified buyer to explore your options if you are facing pre-foreclosure or your property requires extensive repairs. Professional buyers are around to assist homeowners through troubling times.