Sell to Investor vs. Sell to Realtor: Which is Best?
What is the best way to sell my house fast?As a homeowner, you may be wondering what is the best way to sell your house fast. There are numerous options, such as selling your house through a realtor, choosing a for sale by owner (FSBO), or selling your house for cash to local cash home buyers. Of all these options, selling your house the traditional way through a realtor is perhaps the most popular.
However, popular isn?t always best. This is especially true if you are trying to sell your house fast. For instance, you may be in one of the following situations:
|Bankruptcy||Damaged Property||Distressed Property||divorce|
|Downsizing||Foreclosure||Inherited House||Late Payments|
|Probate||Relocating||Rental Properties||Ugly Houses|
If so, then selling your house the traditional way and waiting three to six months for a sale may not be your best option. Instead, you may want to try to get a fast cash offer so that you can unload your property fast. A local investment company purchases property as-is and allows you to walk away without any strings.
Below, we compare an investor vs. realtor to determine which option is best for you. If you have any further questions, call fortune Homes at 202-918-9600. We buy houses!
Selling Your House Through a RealtorThe purpose of a realtor is to help you identify the ideal buyer for your house and help you get the best purchase price at closing. Realtors agree to do all of the marketing, promotion, and showing, as well as research into your market. In essence, they take over the selling of your house to relieve you of the burden.
In addition, realtors keep up with all of the state regulations, schedule appraisals and showings, and consult you on the best way to market and show your house. Their job is to ensure that you walk away 100 percent satisfied with the transaction between you and the buyer.
With all the benefits of selling your house through a realtor, there are also some drawbacks:
You Pay Realtor CommissionsAccording to realtor.com, the average realtor commission is five to six percent. This means that if you sold your house for $200,000, you would pay the realtor up to $12,000 in commissions. A commission that high can eat into your profits considerably. If you choose the for sale by owner route, you may still end up paying commission to the buyer?s realtor.
You Pay All Closing CostsWhen you go to sell your house, you will pay for all the closing costs. Zillow estimates that closing fees range from two to five percent of the purchase price of the house. For instance, if you sold your house for $150,000, you may pay up to $7500 in closing costs.
Additional Costs for Selling Your HouseRealtor commissions and closing costs are just the tip of the iceberg when selling your house. There are other common expenses, including:
- Attorney fees
- Appraisals and inspections
- Moving costs
- Mortgage payoff
- Transaction fees
- Transfer tax
- Escrow fees
Renovating, Repairing, Preparing, and Showing Your HomeIf you get a realtor or appraiser to look at your house, they will almost always recommend some form of renovation or repair to make your house more sellable. While it is true that renovations can increase the value of your property, the ROI on most remodels rarely surpasses 80 percent. Let?s say you spend $10,000 replacing a roof. That puts your ROI at $8,000 that you can add to your house?s purchase price. However, you?re still out of pocket by $2,000.
The Average House Sell in 65 to 92 DaysIf you are in a situation where you need to sell your house fast, don?t count on moving the property quickly in a traditional sale. On average, it takes two to three months to sell a house. This is assuming that the market and the economy is strong. If not, it could take much longer for you to find a house buyer.
Selling Your House to a Local Cash Home BuyerYou may have seen signs that read, ?We buy houses in any condition,? or ?We buy houses As-Is.? In a market often dominated by traditional house selling, this type of fast cash offer may seem too good to be true. However, house investors help homeowners who need to get out from underneath their property or mortgage as fast as possible.
So, if you find yourself saying, ?Sell my house fast,? then a local house investor may be your best bet. There are several benefits to selling your house to a cash home buyer, including:
You Pay Nothing to Sell Your HouseWhen you sell your house to a local house buyer, it costs you nothing to make the transaction. There are no closing costs, realtor commissions, or selling fees. The company that buys houses pays all transactional costs and charges you nothing to assume ownership of the property.
There Are No House Renovations or RepairsIf you are looking to sell your house fast, you don?t have time for renovations or repairs. In addition, these repairs could cost thousands of dollars that you currently don?t have. A local company purchases property as-is with no need for any repairs or renovations. You also do not have to prepare your house to show to multiple people.
Sell Your House In As Little as 30 DaysWhether you are a landlord selling a rental property, going through probate, or trying to avoid foreclosure, selling your house to an investor can help you unload the property quickly. An investor can evaluate your property, make a cash offer within 48 hours, and close in only a few weeks. You can have cash-in-hand in as little as 30 days ? not three to six months.
Sell My House Fast for Cash in the DMVAt Fortune Homes, we buy houses for cash. Regardless of the condition of your home or your current situation, we can help you sell your house and put cash in your hands in as little as 30 days. Get a fast cash offer by calling 202-918-9600 and scheduling a quick walkthrough with a local cash home buyer.
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