So, you’ve decided to sell your house. Did you know that you have 3 options of selling your Hampton house? One – selling through an agent, 2. Selling For Sale By Owner (FSBO), or 3, selling directly to a direct homebuyer (investor). So, what is the difference between the three and when and why you would choose one of the the other? Well, first, let’s clarify something, if you have time to sell, and if your house is is decent or great shape, going for methods 1 or 2 is probably better.
FSBO option is very similar to selling through an agent, but with FSBO you need to prep the house for sale yourself, then do all the showings yourself, and the paperwork too (with the help of an attorney or a title company). In the end, FSBO will save you about 3% from the expenses to sell, as you will not need to pay a realtor commission, but you may still need to pay a realtor for the buyer’s side of the transaction.. In this article, we’ll concentrate on the fundamental differences between selling through an agent and selling to a direct home buyer.
Sell Your House Quickly
The main advantage of selling to an investor is speed. No one can buy a house faster and put cash in your pocket quicker than an investor. Why? Because investors do not use banks or mortgage approval processes. You will be done in 2-3 weeks and that’s it! You’ll get your cash fast! This can never happen when you sell through an agent and your buyer needs to get a loan from a bank. In the latter case, you are looking at 1 to 3 months. Moreover, if sometime along the way the bank decides to stop the loan, then you’ll have to start the whole process again with another buyer, and there it goes another 2-3 months…
Keep More Money In Your Pocket
When you sell to a direct home buyer like Coastal Edge Homebuyers, you can keep more money in your pocket. How? Because you don’t have to pay for repairs, cleaning, staging, your time (multiple showings), commissions (6%, which is 18k on a 300k house). In addition, if it takes you 2-3 months longer to sell on the regular market with an agent, that means you will pay 2 more months of holding costs – utilities, upkeep, mortgage, insurances, etc. In contrast, when you sell to a direct house buyer, none of these charges apply, and you will sell your house in about 3 weeks, completely done!
Sell Your House As-Is
This one is also a big reason why you may want to sell your house to an investor- they buy as-is. This is huge, because you do not have to touch anything in the house – no repairs, no cleaning, zero responsibility of doing anything to the house. You can leave it even with all the things and old furniture inside. It is almost impossible to do that if you want to get max dollars for your house and you want to sell through an agent. They will ask you to do a big cleaning, then repairs, then staging, then multiple showings, and they will ask you to pay commissions, 8-10%. Out of that, 6% is sales commissions, and 2-4% is closing cost assistance for your buyer. If you needs to sell a house fast, as-is, the best way is to sell to an investor.
Take Control of the Sale
Get this – when selling your Hampton house, if you use an agent, you have almost no control over the negotiations, cleanliness, staging , repairs, because your agent will push you to do everything the way they desire. It is Ok to rely on their expertise, but if you are intelligent and want to take active part int he marketing, negotiations or decision-making at any level of the sales process, the best way to have control is to sell to a direct house buyer. You can still use resources from friends and the internet, but you would still be in control!
Get the Security You Need
Selling your Hampton house can be even safer when you sell to an investor. The investor also has interest to buy houses properly, legally, and swiftly. That is the livelihood of their business. They will need to be honest and proper. On the other hand, there have been some unscrupulous agents and brokers out there, who think they know the business, but they don’t . They may sometimes steer you in the wrong direction. For example, they may inflate the sale price (because their commission will be higher if the sales price is higher), but guess what, if you are too high, your house will sit for months and not sell. Is that smart? No! , you can avoid many of these risks and have peace of mind knowing that you are working with someone who has your best interests in mind. That’s not to say that there are no good agents out there, not at all. We’ve worked with many great ones out there, but just like in any business, there are some bad apples here and there.
Selling your house directly to an investor can be a great option for homeowners who want to save time, money, and any hassle when selling their house or land. By working with an investor (direct house buyer), you can often avoid paying commissions and in some cases, not even pay closing costs or any other fees. You can sell your house as-is, you’ll have much more control over the sale process. If you are considering selling your house now, be sure to explore all of your available options and find the one that is right for you. Coastal Edge Homebuyers can help you simplify the selling process and advise you on the best option based on your particular situation.
Reach out to our team today to find out how. (757) 414-7117