You have decided it’s time to sell your house. Should you hire an agent to sell your house in Louisville, KY. Do you want to pay large commissions? How long are you willing to wait for the house to receive an offer? How long will it take to close? What sort of repairs will you have to make? Do I have to have the house spotless before I leave for work in the morning? Are you available to show your house with 24-hour notice, or less?
Showings
If you decide to sell your house directly to a professional house buyer in Louisville, KY, you will not have to worry about going through a roller coaster of emotions. There are no frustrating, middle-of-dinner phone calls asking if you are available to show your house. You don’t have to worry about leaving your house spotless every day before heading to work, just in case there is a showing while you’re gone. You don’t have to worry about possibly running into a buyer’s agent or their clients or dealing with them asking you questions that you really shouldn’t answer anyway. You also don’t have to worry about buyers arguing with you over which furniture you are taking and what you are leaving.
Commissions and Fees
Real estate agents are paid based on a percentage of the sale price of your house. If you do not use an agent, there will be no commissions paid to a buyer’s or seller’s agent. That means thousands of dollars in savings! The usual commission is 3% per side, so if you sell your house for $400,000, you would have to pay $24,000 out of your proceeds in commissions alone, along with the traditional seller’s closing fees and other possible transaction fees to the closing agent and the real estate agents office. Real estate investors typically do not charge commission or transaction fees. At FairSquare House Buyers, we DO NOT charge commissions or transaction fees and cover all closing costs!
Waiting Time Frame
Real estate agents have access to the multiple listing service (known as the “MLS”) which allows your property to be found in searches for certain features of a property. This may sound great, but how long will it sit on the market? How fast will you receive offers? Real estate investors and other direct house buyers typically have a network of other house buyers, so if your property doesn’t fit their portfolio, then it may fit one of their colleagues’ portfolios. Either way, this means you are likely to receive offers quickly. Also, when you sell your house in Louisville, KY directly to house buyers, they will typically close faster than traditional buyers, and usually pay full in cash. Traditional house purchases usually require qualifications from banks, mortgage underwriting time, property inspection and the buyer may not end up qualifying in the end. This means you could waste months waiting on a buyer that may not even qualify for financing at the end of the day and you are back to square one!
Inspections & Repairs
Professional house buyers in KY will usually purchase houses as-is. As a seller, this means you do not have to worry about repairs before closing. There are some companies that do not require inspections which makes it a truly as-is transaction. When you use a real estate agent, the buyer’s agent will almost always order an inspection of the property. If they find something wrong with the property structure, they may require you to fix it out of pocket before the property closes.
There are a lot of situations to think about when you are ready to sell your house. We can help you decide which avenue would be best for you.