You’ve made the decision to sell. Should you hire an agent to sell your house in Mooresville, NC? 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? How does the house look when I leave for work in the morning? Are you available to show your house with 24-hour notice, or less? Are you ready to deal with the potential disappointment of accepting an offer, taking your house of the market for weeks or months, only to find out that your buyer cannot get a mortgage or bank loan and has to back out of the sale?
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 $300,000, you would have to pay $18,000 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. This can be a huge savings, and ensure that the amount of cash you put in your pocket is much closer to the amount of the offer you have accepted.
Waiting Time Period Before Closing
Real estate agents have access to the multiple listing service, or 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, and 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. This completely avoids having to wait an undefined period of time until you get an offer. Also, when you sell your house in Mooresville, NC to house buyers, they will normally close much faster than someone getting a bank loan to live in the house, and usually pay cash in full. 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 can be incredibly frustrating when you’ve mentally written off the house as sold, and went on making plans that have to be stopped or changed when you find out that the house is not actually sold and you are back to “square one”.
Inspections & Repairs
Professional house buyers in NC will usually purchase houses as-is. As a seller, this means you do not have to worry about repairs before closing or any other additional expenses you were not planning on. Many times, a real estate agent will insist that you make certain repairs before even listing the property, so that it will look good to potential buyers. 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 (which they inevitably will, even on almost-new homes), they may require you to fix it out of pocket before the property closes. This re-opens negotiations affecting your purchase price when you thought that you had negotiated your price down as much as you were going to already.
If you decide to use a professional house buyer in Mooresville, NC, 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 and making sure your kids have their rooms picked up every single 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. It also avoids any arguments with your buyers over which furniture you are taking, and what you will be leaving and therefore having to replace.
There are a lot of situations and factors to think about when you are ready to sell your house, and your specific, individual situation is unlike anyone else’s. We can help you decide which avenue would be best for you.