Need to Sell Your House for Fast Cash?

money, finance, mortgage

So, you are wanting or needing to sell your house as soon as possible? Then you have come to the right blog. Do not worry, we get it. In this economy it can be frustrating trying to sell your home. Especially if you need it done as soon as possible.

Within this article, I will discuss with you three popular options when it comes to selling your home today. I will also be discussing the pros and cons of each option, that way you know all your options by the end of this article.

Here are going to be the three options I talk about.

Option 1: Hiring a Local Real Estate Agent / Broker

Option 2: Selling Your House Yourself

Option 3: Selling Your House to a Real Estate Investor

So, if you are ready, lets discuss your three different options for selling your house.

 

Option 1: Hiring a Local Real Estate Agent / Broker

When you choose to go with a real estate agent or broker, you are giving yourself a good choice. This will allow you to get the best price for your home, you do not have to stress about doing a lot of work to the house, and this gives you a waiting time of about six months or longer to sell the house.

 

The process of finding a real estate agent can be simple or difficult, depending on how you want to make it. When you find the agent you prefer, you need to sign a listing agreement with your agent so you agree that they will represent you and help sell your house. Your realtor should advertise your home on MLS, markets and even do open houses to attract people into the house. The more they advertise and promote it on the market, the quicker your house is likely to sell. Once your house does finally sell, the agent should be the one to take care of all the negotiations and paperwork. At the end, when the sale goes through, both agents will collect a commission fee.

 

Costs

When you look at the cost of having an agent or broker, the fees are around 3% of the total purchase of your property. Plus, the agent who represented the person who bought the house will get a 3% as well. So here an example of what that equation would look like. Say your house sells for $250,000, you would approximately pay about $15,000 in agent fees altogether. You also have to add on the costs of what it may take to upgrade your house, along with paying the closing costs that you may have split with the buyer.

 

Time It Takes to Sell

When you are using an agent or broker the process for selling your house can sometimes be a quick or slow process. It depends on a variety of variables. The average selling period is around 6 months, but it can last between 3 and 12 months normally.

Pros

 

  • These real estate agents know the market well and can help you get the right price for your house.
  • The agents play an important part in taking care of the housing market by constantly advertising new homes, showing the properties off to those who are interested in buying, and they also help prepare and draw up the final closing paperwork.
  • You can trust that your agent has your best interest in mind.

 

 

Cons

  • Having an agent can cut into your profits due to things like commissions and closing fees on the homes.
  • Agents normally use basic ways of advertising your home, which may take longer to be sold than if you were selling the home yourself.

 

I think choosing a relator is a smart idea if you have the time to wait for your home to be sold and can afford to pay all the fees that come with them. If you use a relator, you can always be comfortable knowing that they have your best interest in mind.

 

Option 2: Selling Your House Yourself

This option may be a good choice if you want to save yourself some money instead of hiring a relator. You just need to make sure you are up for the challenge of doing all the work on your own, and the selling process could take longer than normal

 

The process on selling your house on your own, can be a little different. First you need to decide the value of your home or you can always pay someone to come out and give you an estimate on the home’s value. After you have the value in mind, you need to take pictures of the exterior and interior so viewers can see every inch of the house. The more you advertise and show of your home, the more potential buyers you will attract. You can use websites like Zillow to post your home for sale. Another way of advertising can be posting a FSBO sign in your front yard. After you have done all of this, you get to start handling all the showings, offers, and preparing the paperwork when you get ready to close on the house.

 

Cost

Your major costs are going to be the signs you pay for advertising, the costs of you fixing up your home, and closing costs. You might also pay a buyer’s agent fee if you ask other agents to suggest your home to their clients, so it would be a one time 3% charge, if you choose to do so.

 

Time It Takes to Sell

When it comes to selling your home, it all depends on you and your ability of marketing. It will either be easy, or it may be difficult, depending on the marketing strategy you do for your house. Sometimes when you sell your house as FSBO it does tend to stay on the market just a little bit longer than it would if you had a relator selling for you.

 

Pros

  • You save yourself so much money when you sell on your own.

 

Cons

  • If this is your first house that you are selling, you may struggle with everything that it takes because it is a new process.
  • You may end up completely over your head with all the responsibilities and paperwork that it takes to sell a home.
  • You may take longer than normal to sell your house.
  • You could cost yourself more money than what it would have been if you had just hired an agent in the first place.

Overall, if you do not have a lot of experience selling houses, I do not recommend that you try to sell your house on your own. If you do not need to sell your house as quick as possible, then this is the option for you. I think you need to have a comfort level when it comes to negotiations with clients and customers and have a strong understanding of the housing market and economy that you live in.

Option 3: Selling Your House to A Real Estate Investor

 

This is the option that I highly recommend if you want to get rid of your house as soon as possible. Like 30 days or less. When you sell your house to an investor, it pretty much means you are done with the place, you do not want to fix up the house or repair anything. You just want the property off your hands so you can make some quick cash.

 

This process is probably the easiest out of the three. All you really need to do is call the investor, have them come and inspect the house, they will make you an offer, and then all you have to do is either accept it or try to bargain for a little more money. When you do accept the offer, the investor with get with a title company and start the process to sell the title from your possession to theirs. After that you will get your cash and be on your way.

 

Cost

Thankfully if you go with this option, you will not have to pay any commission fees at all. The only downside to this is you may not get as much as you want because investors can not pay the full retail value on your house.

 

Time It Takes to Sell

When you are dealing with investors, you can probably have your sale finalized within 7 days of making the offer to the real estate investors. They like to process these sales as quick as possible so they can start working on the house to re-sale it.

 

Pros

  • The selling process is fast.
  • You can get instant cash from the investor
  • Some investors will buy your house as it is with no need to repair it.

 

Cons

  • Investors will not pay the full value of your home.
  • You could be losing more money than you realize.

Overall, this option is here for those who need to sell their house the quickest. They do not care how much they get; they just need the fast cash. They do not want to deal with the process of fixing up their homes to make them look nicer.

 

Conclusion

Well, I hope you have enjoyed reading this article and learned a little more on the different ways you could go about selling your home. Sometimes all you need to do is sit down and evaluate which option is best for you and what can help you save and make the most money.

 

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