With the extremely sluggish economy, the recent highest nationwide unemployment since the depression, rising product costs and rising gas costs, this thought has no doubt crossed the minds of many Americans, “I’m going to have to sell my house and find my family a cheaper place to live.” Your home is your most valuable possession, so it’s hard to think about selling, but if you’re in a difficult financial position due to job loss, rising costs or the sluggish economy, selling may be your only option. You may have wondered, “How am I going to sell my house and get enough cash from it to start over in a less expensive place?”
Selling your house can be a long, drawn out, and unsatisfying process. The first thing you have to decide is how much time you have before your financial situation becomes critical. Do you currently have the resources to wait months or even up to a year to get the cash you need? You may wonder if you should contact a realtor to sell your home, or perhaps sell it yourself. Do you have other options?
Let’s analyze your options. If you are considering selling through a real estate agent, there are pros and cons to consider. Some of the pros are:
• The selling price will be set by the real estate agent, so you won’t have to stress about how much to ask for your house.
• The realtor will handle all the paperwork.
• The agent will set up an open house.
• The real estate agent will show your home to prospective buyers.
• The realtor will set up the closing.
Some of the cons for selling through a real estate agent are:
• The real estate agent may ask you to make costly repairs to make the house more “sellable.”
• The realtor may ask you to increase the curb appeal with landscaping or exterior paint.
• When the real estate agent brings prospective buyers to view your house, you will have to leave, which could be very inconvenient for you.
• You may have to wait months or even a year in today’s economy for your house to sell.
• You may have to drop the selling price, sometimes several times to make it more appealing to a buyer.
• You will have to pay holding costs each month until your house is sold. Holding costs include the mortgage, taxes and insurance.
• You will have to pay a realtor between 6-7% in commissions at closing.
Suppose you want to try to sell your house yourself. There are pros and cons to that approach as well, such as:
• You will have to get your house in sellable condition. This includes removing all the clutter, extensive interior cleaning, interior painting and repairs.
• Preparing your yard to give it the most curb appeal.
• Doing research to set a selling price. This can be accomplished by searching the real estate section of the local newspaper and on the Internet.
• You will have to make professional looking flyers to give to prospective buyers. You will also need to post those flyers at critical locations for prospective buyers to see.
• You will have to advertise the sale of your house in the newspaper or on the Internet.
• You will have to buy a yard sign.
• You will have to show the house to prospective buyers at their convenience.
• You will have to set up your closing through a title company or real estate attorney.
• On the other hand, you won’t have to pay a large chunk of your money to a real estate agent.
There is one other option that we haven’t discussed, and that is to call a real estate investor to buy your home. There aren’t any negatives when you decide to sell to a real estate investor.
• You will have to complete a simple online form
• The investor will quickly call you back.
• The investor will ask you a few pertinent questions about your property.
• You will receive another call in a couple days with a firm offer for your house.
• You won’t have to do any expensive repairs to your house.
• The real estate investor can pay you all cash, take over your payments or buy your house through a short sale, if you are in foreclosure.
• The investor will buy your house “as is” with no contingencies.
• If you accept his offer, you can usually close in about 10 days.
• You move on with your life.
Life is full of choices, and the choice is yours. If you want to simplify the sale of your house, call 1-800-Sell-Fast, the sell my house people today. We are here to help.