Four of the top advantages to selling your property to a professional home buyer.
In the majority of circumstances it makes sense to sell a property using a real estate agent to market and help with the sale of you house. But we come across many situations where using an agent might not be your best option.
If you are considering putting your property up for sale but it is in need of repairs and upgrades, you are facing a foreclosure sale, you inherited a property that may need to be cleaned out and renovated or you just need to sell fast for whatever reason, possibly a job transfer then using a professional house buying company may be your best option.
There can definitely be some unknowns if you decide to list your property with an agent but when selling to a local we buy houses in Jacksonville company you can side step a lot of the unknowns in the selling process.
Here are some of the advantages of selling to a home buyer that you might not have considered.
Avoid Commissions, Fees and Contingencies
The most obvious fee that you can avoid when selling to a home buyer is the typical agent commission which in most areas is 5% – 6% of the selling price of the property. As you can see this is a big chunk of change to be giving up. In Duval county here in Jacksonville Florida the seller typically pays the closing cost which will add approximately another 1.5% of the selling price.
There is also the less obvious that sellers don’t count on until there well into the selling process. These are requests for repairs to be done after home inspections are completed by the potential buyer and also concessions where the buyer may ask the seller to contribute money towards mortgage fees or down payment assistance. This can really add up and cut into your bottom line net proceeds.
Another one is the appraisal. Sometimes the house will come in under the sales price causing you to make a decision to sell the house lower (sometimes up to 5-7% lower). When using a home buying company you avoid all of these hassles, there are no banks or appraisals our offer is cash, “as is” no repairs.
Time is Money. A Faster Sale Saves You Money
Selling your house the conventional way with a real estate agent can take anywhere from 3 months to over a year to finally get to closing. This all depends on market conditions, condition of your property, is the location desirable.
Other issues that come up to consider are meeting the financing contingencies of the buyer, negotiating the concessions and repairs and then finally having the repairs completed.
Most sellers still have costs associated with owning the property such as your monthly mortgage payments, home owners insurance, property taxes, maintenance and up keep along with HOA fees if you’re in this type of neighborhood. If you are behind on any of these payments the fees and penalties can really add up quickly.
When you sell to a company that buys houses the typical amount of time to get to closing is 7-30 days. As you can see you have to consider all of the costs and hurdles that may arise when making your decision.
Sell Your House As Is and Avoid Doing Any Expensive Repairs
This is a really common issue when selling your home through a real estate agent. What ends up happening is that the buyers hire a home inspector to inspect the condition and operation of the systems of the house. Once the potential home buyers get this report back the agent will be calling you with a laundry list of repairs that the buyer wants completed before the sale of the house takes place. A lot of time these are big ticket items like AC replacements or major repairs like, electrical upgrades, roofing repairs, plumbing repairs or cement work. You also have to consider the buyers lender in this scenario, they may request that the repairs need to be completed in order for the seller to be approved for the loan…
THIS IS ALWAYS A MAJOR DEAL KILLER TO LOOK OUT FOR.
The professional home buyer understands the systems and condition of the property and buys houses as is. They take care of all of the repairs once the property is sold. No hassle for you.
You Pick The Day And Time You Want To Close
Professional home buying companies have the ability to be very flexible on the terms of the agreement. They are usually able to adjust the closing date to fit with what works best for you. At BG Home Solutions we have a program called EZ MOVE and this allows the seller to remain in the property for up to 14 days for free while they transition into their new property. We also do longer lease back scenarios where people may be having a house built and need more time.
If you want a stress free, easy sale of your property you may want to consider talking to a local company that buys houses in your area. You can avoid all of the issues we mentioned earlier. There is usually no obligation to see what they can offer you as far as a cash offer and the terms of the agreement. If you’re considering selling your property and are in the Jacksonville Florida area give us a call or fill out the online form for a no obligation consultation about your property.