One of the most popular ways to sell your home is to hire a Realtor who will sell your home for you. I’m a Realtor, and I know that this can be an effective way for many people to sell their homes. However, hiring a Realtor is not always the best option. Below are some items to consider when you want to sell your home.
Does your home need to be updated?
Realtors will take pictures of your home to post on the Multiple Listing Service (MLS) and other sites (Zillow, Trulia, Realtor.com, etc.). If your home – especially your kitchen and bathrooms – hasn’t been updated since the 1970s, 1980s, or 1990s, this will be obvious in the pictures. Many buyers see dollar signs when they see that updates are needed, and they will either move on to the next house, or they will be reluctant to pay your asking price. Homes that need updates tend to stay on the market longer and sell for much less than the updated homes in the same region.
Does your home need any major repairs?
Major repairs – such as a new septic system, new roof or new siding – will make you home more difficult to sell, leading to longer days on the market or significantly lower selling price. Buyers tend to shy away from these homes, thinking “if the roof needs to be replaced, what else is wrong with the house?” Also, buyers often cannot afford to pay for a major repair that is needed right away because they are already putting so much of their savings down toward their new home purchase, making your home completely out of reach for a large segment of buyers. If you want to sell your home quickly, it is best to spend the money and get the work done.
Do you have a lot of “stuff” in your home?
If you’ve been living in the home and you’re moving to a home that’s the same size or larger, it is probably not a problem to take your “stuff” with you to your next home. However, if you’re downsizing, you’ll probably only want to take a few key furniture items and your personal possessions. If you’ve inherited the home, you and your family will probably only want to keep a few treasured items and will be left with a house filled with furniture, clothes, and other “stuff.” What will you do with the rest? Sell it on Craig’s list and have strangers coming into your home to pick up their purchases? And what about the items that you can’t sell? Who needs the hassle and the stress?
Do you want to close quickly on your timeline?
With the new banking regulations (TRID), it generally takes from 45 to 90 days to close on your house if the person buying your home is securing a mortgage. If the buyer has a contingency on the contract stating that they will complete the process of buying YOUR home after they sell THEIR home, then this time between the original offer and the closing date could be extended even longer. During this time, YOU are paying for the homeowners insurance, YOU are paying for the taxes, and YOU are paying for the utilities. If your home is vacant during this time, you are also crossing your fingers and hoping that the neighborhood kids don’t realize there’s a vacant home on the block. If you are selling to a buyer who is paying with cash, the time between the offer and the closing date can be reduced to as much as 14 days, and cash buyers will usually allow you to set the date of the closing.
Another thing preventing a quick sale is the time that the home is on the market before you even get any offers. If your home needs updates or repairs, your home might be on the market for a long time before you receive the first offer. And if you receive offers along the way, the home might not pass the home inspections to the satisfaction of the buyers. This means you could receive an offer and get all excited about selling your home only to have the offer fall through after the inspection. You could be on this roller coaster for 6 months or more until the home finally passes the home inspection to the satisfaction of a buyer.
If you answered “YES” to any of the above questions, selling the “traditional” way might not be for you.
If your home is updated, all the major repairs are completed, you don’t have any “stuff” that you would like to leave behind, AND you don’t mind waiting an undefined amount of time before you finally get to the closing table, then you’ll probably do just fine selling your home the traditional way. In fact, if your home is on the Cape, contact me and I’ll be happy to list it for you! (If your home is off-Cape, I can recommend a great Realtor who will be sure to take care of you.)
However, if you want to sell your home quickly (on YOUR schedule) without the hassles and expenses of updating and repairing your home, then selling your home directly to a cash buyer makes a lot of sense.
Here at FCD Real Estate Investments, we will work directly with you to make sure that you have a quick and hassle-free selling experience. Starting with your first call to us, we’ll make sure you are completely informed and comfortable working with us. We will meet with you to discuss your needs, and we’ll work with you throughout the process of selling your home. We want to make sure that the process is easy and hassle-free for you. We are in the business of helping homeowners sell their homes so that they can move on with their lives.