Why a Traditional House Sale May Not Work for You
For most home sellers, hiring a realtor and listing their house on the market seems normal. After all, it is the most common way to sell a house today. While a traditional sale may work for some sellers, it may not work for you. You may be in a situation where you need to sell your house fast. If so, you will need to seek an alternative to a traditional sale.
You could attempt to do a For Sale by Owner (FSBO). However, most FSBOs take six to 12 months - longer than hiring a realtor. If you are in a hurry to sell your house and need a quick solution, your best option may be to sell your house as-is for cash directly to a buyer. Below, we look at what a traditional sale is and why it may not work for you.
What is a Traditional House Sale?
A traditional house sale entails two main things: 1) You hire a realtor to sell your house on your behalf, and 2) You list your house on the market and show it to one or more prospective buyers. Sounds simple, right? However, a traditional sale involves numerous steps and a high level of commitment. There are several things you need to do to land a deal, including
Hire a Realtor
If you do not want to handle selling your house, you can hire a realtor to sell it on your behalf. Realtors can research the market, help you set your price, list the house on an MLS, show the property, negotiate with buyers, and help you close the sale. However, realtors also take six percent of your sale in commissions off the top.
List the House
There are several ways to get the word out about your house for sale. The primary way to market your house today is through an MLS site, website, social media platform, or another online platform. You can reach a more significant number of potential buyers. However, there is a lot of time and costs involved with marketing your house.
Repairs and Home Improvements
Is your house in a less-than-desirable condition? If so, you may need to make some repairs so that your house passes inspection. You may also need to make home improvements so that the house is more attractive to buyers. These types of projects can cost between $500 and $15,000, setting you back financially.
Show the House / Negotiate with Buyers
While your house is on the market, you will need to be prepared to show the property, meet with potential buyers, and negotiate the price of the house and the conditions of the sale. This is where a professional can be valuable. Can you afford to take time off to show the house? Do you have the negotiating skills to set the conditions of the sale?
Close the Sale
Once you find a buyer, you will schedule a close date. Closing the sale doesn’t happen quickly. In some cases, you may have to wait 30 to 45 days before you finally sign the paperwork. You can expect to pay several hundred dollars in closing costs. The buyer may even ask you to pay some of their closing costs as a condition of selling the house.
What if I Need to Sell My House Fast?
If you need to sell your house fast, your best option may be to skip the traditional sale and sell your house directly to an experienced house buyer. When you work directly with a buyer, you wipe away all the steps to selling your house. Instead, you and the buyer agree on a price, close the sale, and walk away with no strings attached.
Contact Us to Sell Your House Today!
If you are ready to sell your house fast, then now is the time. Local Guy Buys Houses can make an offer and put cash in your hands in as little as seven days. Call 855-205-5999 to get a fast cash offer today.