Selling a house sounds simple until it actually comes down to actually doing it. Then the more you consider it, the more you can find yourself int he maze of options on how to do it, and if you want to do any repairs or not. One one hand, there is the way most people are familiar with – selling through an agent, then there is the For Sale by Owner, and then, the lesser know way of selling to a real estate investor . Let’s look at the options and concentrate more on the last one.
Selling your house through an agent involves signing an agreement with an agent, they will ask you to do inspections, cleaning, repairs, and staging, and then they will get around 6% of the sale ($15,000 on a $250,000 house). Selling your house as For Sale By Owner (FSBO) will save you about 3%, but you have to do all these same things as if you were selling through an agent.
What Does an Investor Do?
A real estate investor is a direct buyer of properties. In every city there are such buyers and they would buy your Norfolk house fast, with cash. They specialize in buying homes as-is, they take on the risk to buy a house in basically unknown condition, then they would renovate it or keep it as a rental. Basically, they are in business to buy houses below retail, but for the benefit of a customer who wants to sell a house super fast, as-is, without repairs or cleaning.
If you need to sell your home quickly, a professional home buyer can be a great option. They are often able to close on your home much faster than traditional buyers, which is especially helpful if you’re in a time crunch. Additionally, because companies like Coastal Edge Homebuyers don’t need to secure financing or sell a property before purchasing your home, the sale process can be much smoother and faster overall.
1. No Repairs Needed
This is one of the best benefits of selling to a direct buyer – no repairs needed. This is a great convenience for you, if you do not have the finds, desire, or time to deal with repairs. When you are selling your house as-is, that is exactly what it means. A direct buyer will never ask you do do any repairs. This can be a great benefit to you, as repairs today are very costly. A lot of customers we work with still falsely believe you can do a kitchen for $8,000, but today you can easily double or even triple that amount to renovate a kitchen, depending on the level of quality you need, not to mention the hassle of working with contractors, picking materials and stay on top f the workers, so they do a good job, and do it on-time.
2. A Speedy Sale of Your House
This is one of the best benefits of selling a house to a real estate investor – the speed of transaction. If you need to sell fast, nothing beats a sale to a direct buyer. They can close in 2 weeks, if there are no issues with the title of the house. If you have a big issue and you need money fast, the fastest way is to sell your house as-is directly to a cash buyer. Think about it, if you sell through a realtor, you are at the mercy of the buyer’s bank (unless they pay with cash, which is not common). If you have an urgent need because of liens, health situation, or even foreclosure, selling fast for cash is your best option, as long as you understand that getting a top price is not your primary concern.
3. No Commissions or Fees
If you consider selling your Norfolk house through a real estate agent, you need to know that you will pay 6% commission (usually that is the amount in Virginia, split in the middle between your agent and the one representing your buyer). Also, you may pay up to 4% closing cost assistance too. So, that’s about 10%. Think about it, for a $250,000 house that means you will be minus $25,000 right from the start. Get this – when you sell your house to a direct buyer, you pay none of these commissions/fees!
4. Cash Offers
Getting your house sold for cash is the best and fastest way to money. Contrast that with selling to a conventional buyer, who is getting a loan from a bank: the loan application may not get approved in the 11th hour… and then you are back to square one on the sale! Selling your house fast for cash is as real as it gets to getting exactly the promised amount, in cash (well, it’s a check :), but you will deposit it on day of closing or shortly afterward).
5. A Flexible Closing
When you sell through an agent, you would never know or control the closing date = when you get paid. Get this – when you sell to a cash buyer, you can determine the closing date yourself! Yes, that is correct, you can designate the closing date to coincide with another event of your live, like moving or whatever you like! As long as you give at least 2 weeks for the transaction, you could pretty much pick any date after that. Usually, when you sell you house in {market_city] , the buyer will propose the closing date, about 1 month later, but yes, you can pick any date you prefer (after 2 weeks from the day you approve the offer).
6. Less Stress
Who says it’s stressful to sell a house? If your priority is a super fast sale and you don’t want to make any repairs, or even clean the house, then yes, there is a stress-free way to sell it – just call a direct buyer.
Do you need to sell your house in Norfolk? If you don’t want to deal with the stress of repairs, negotiations, or commissions, just call Coastal Edge Homebuyers to learn more about selling directly to a direct buyer (a real estate investor). While it may not be the best option for everyone, it’s certainly the best one if you’re looking for a fast, easy sale. Reach out to our team today to learn more! (757) 414-7117