Considering Selling your house? Awesome, together, we will look at the top 3 possible routes for selling your house to determine which route is best for you.
Every task no matter how daunting starts with the first step. Lucky for you! You are smart enough to know that a little research goes a long way. I believe every task in life should be made as simple as possible, but not any simpler. That being said, let’s lay out a firm foundation to get you started on your house selling journey. There are 3 basic routes to look into before you sell your house. That are described below to help you make a well informed decision that best suits you.
1.Sell with a Real Estate Agent
Most of the homes across the country are sold with the help of a Real Estate Agent. More than 85% of the homes prefer to sell their properties using the services of a Real Estate Agent. Real Estate Agents make it a smooth process, ironing out the wrinkles with the help of their knowledge and strong connections in the industry. They not only help in setting the right price but also market the property aggressively to attract lots of interested buyers. Though, you have to pay around 6% of the total sale proceeds to your listing agent, it is worth the time and energy saved. If you don’t have experience in real estate and/or access to things like the MLS, I personal would highly recommend using the help of a knowledgeable professional when doing any type of real estate deal. As a general rule, Real Estate Agents are able to sell your home at or around current market value and in a 3 to 6 month period.
If parting with thousands of dollars of your money in the name of realtor fee sounds like to much for you, you have the option of selling FSBO. FSBO being an acronym representative of “For Sale by Owner.” If you have the time, money, and desire to sell your house own your own, FSBO or FizzBo is the way to go. It is difficult but not impossible. With so much of information on internet and professional help available to you, you can sail through the process if you are willing to put in time and effort into it. FSBO will take a considerable amount of time, research, and some money upfront, but if done correctly homes can sell for more than the price of homes sold through realtors and you are able to avoid the costly fees involved going through a realtor. If you enjoy researching, taking risk, and trying new things this route is for you and has a high possibility of getting a fair return for time spent. Today, more than 8% of the homes are sold FSBO. If you plan on selling Fizzbo, I would recommend you check out 123’s “Top 3 Mistakes to Avoid” when selling Fizzbo.
3.Sell to Experts
If you do not have time, need to sell fast, or if you do not want to spend money on repairs, it is better to sell your house to a creative financing expert or a real estate investor. These are individuals and companies buying houses on ‘As is’ condition, meaning you have to do nothing for home improvement. They also complete the transaction quickly, usually in about 7 days. In most cases, you can get more money for your property than any of the above routes due to monthly installment payments and balloon payments. This route is not for everyone, but can be a great option for people in particular situations.
Generally you are looking at one of three options when going this route:
You sell ‘As is’ getting fast cash in 7 days or less at about 70% of current market value.
You sell ‘As is’ in 7 days or less receiving less money up front with balloon and/or monthly installment payments which usually means you are able to sell for well over current market value.
In special cases such as negative equity or foreclosure, you sell ‘As is’ in 7 days or less with the creative financing experts or investors taking over your monthly mortgage payments.