Do you want to sell your house fast? Do you need fast cash for your home? Selling your home for cash can be a difficult task. Do you need to list yourself with a real estate agent? Are you trying to sell “for sale by owner?” What are the “we buy houses” signs of? What is my best option for selling my home fast? Let’s look at each of the possible solutions to quickly sell your home for cash to Rocky Top Home Buyers.
The first option that most people think of is to sell through a real estate agent. This is generally not a quick fix. The average number of days on the market in this economy is over 120 days. People often have the misconception that listing with a real estate agent means you get a full price quote and all you have to pay is a 6% commission. The reality is very different.
After waiting more than 3 months (again, not fast), the best deal you will receive is probably 5-15% below “list price”.
Buyer’s Priority Company will likely ask you to make repairs before approving the loan ($ 10,000? $ 50,000? More?).
After the long wait and payment for repairs, you also pay 6% commission, 3% supplier concessions and 2% closing costs.
Adding all these percentages and costs means that your real net profit is much closer to 75% of the list price.
Maybe it’s not something for you to sell through a real estate agent. You can always try to sell your house “for sale by owner”. Selling “for sale by owner” is for the DIY crowd. Are you ready for the task? Let’s review exactly what this entails.
You’ll have to do a lot of marketing: place signs on your patio and in your neighborhood, update and maintain ads on multiple sites, pay for local newspaper ads, take hundreds of photos, and the list goes on and on.
When you start marketing your home for sale, your phone starts ringing. Are you ready to answer 5, 10, 25 or 50 phone calls a week? When do you find time to talk to buyers: nights and weekends?
Showing your home to strangers can be very stressful. Many just want to be curious neighbors who want to see what other houses look like in their community. How do you eliminate the “just look” crowd of serious buyers?
Eventually, you will receive an offer that you consider acceptable (possibly much lower than you originally expected because you just want to end the stress of the process!).
There are still obstacles to overcoming the closure. If the buyer gets a loan, all evaluations and inspections are applied as if they had offered a real estate agent.
Is this process worth all the stress and headaches?
There is also a third alternative. You can quickly sell your home to a professional real estate investor. Have you ever seen these “we buy houses” signs on the side of the road? These signs are usually placed by real estate investors. By selling to a real estate investor, you can quickly sell your home, sell your home for cash, and leave headaches behind. Real estate investors are likely to provide you with a number of offers. Let us examine each of these below.
Investors give you a cash offer. Since investors provide a simple and hassle-free solution to sell your home quickly, they only buy houses for cash when the seller is willing to offer a discount on the purchase price. There are many benefits to accepting this offer.
Investors buy your home “as is” so you do not have to carry out repairs yourself.
Selling to an investor means a quick close, probably within 30 days and possibly faster.
Some investors even pay all closing costs!
Just sell your home fast and collect your cash!
Investors will also provide “creative” offers. Creative offers allow investors to pay higher purchase prices, but the seller needs to be flexible. Examples of creative offers are “seller financing”, “subject” and “leasing option”. These methods allow investors to pay closer to the actual retail price of the home.
Seller financing is when the seller agrees to take a small payment and then receive payments over time until the full purchase price is paid.
Subject to this is when the investor simply takes over the seller’s existing mortgage payments.
The lease option is when the investor rents a house to the seller, provided he is given an opportunity to buy the house at a later date.