Are you thinking of selling your house because you are moving to a new place or getting an apartment yourself? If you’re wondering if you should list with a realtor or sell to a real estate investor, then mentioned below are a few things you should take into consideration.
Hiring a Realtor
Selling your home can be an emotional moment for you, especially if you have spent years and created memories. Listing with a realtor will ensure that you don’t make stupid mistakes such as overpricing the house or refusing offers because you feel too emotional.
As people who work on selling houses to others, reputable agents know their markets well and use MLS (Multiple Listing Service) for advertising the property to the largest source of retail buyers.
If this is the route you choose to take, it’s important to work with a Realtor you can trust. Everyone knows at least one or two Realtors and it can be tempting to work with a friend or family member. However, be sure the person you choose is able to do the best job. Your home is likely your largest investment and going with the wrong person because you feel obligated can cost you tens of thousands of dollars.
If you’re in a hurry to sell, working with a Realtor may not be the way to go. The process can take 6 months or more with a financed purchase. Consider that during a retail sale you are still responsible for paying the monthly cost of the house while it’s under the agreement and in the financing, title and inspection stage. Depending on what your monthly expenses are, that could be a pretty healthy sum.
The services of a Realtor is very expensive. Some sellers believe they will receive a higher price and ultimately make more money on the transaction if they hire a real estate agent. That may be true on the front end, but often times the net amount is much when closing costs, carrying costs and commissions are considered.
Why consider selling to a real estate investor?
If your home is dilapidated and requires a lot of maintenance, then a realtor might not be interested in working for you. The good thing about investors is that they’ll buy your home despite knowing the issues and offer a rate suitable, keeping the house’s damages in mind.
Investors pay in cash
Are you in urgent need of money to pay for your new home? The good news, as dealing with investors will get you cash as soon as the deal is finalized. As cash payments are so many, you won’t have to deal with delayed payments, giving a cut to the realtor, or finding out that the buyer is short on cash.
The best part of this is that you will avoid any repairs of the home. Investors are buying “as-is” and can close on your timeframe.
You won’t lose sleep wondering if the bank is going to approve the buyer’s loan, only to discover in the eleventh hour that the deal has fallen through. You also maintain flexibility with your closing date. Selling to an investor means you can close when you’re ready. Many investors pay all of the seller’s closing costs as well.
Are you still confused between a realtor and a real estate investor? Well, it’s only you who can make a final decision. If you feel that you have enough time and room in the price to pay the fees, and can afford to maintain the monthly overhead while you wait for your home to sell, then hiring a realtor could be an option. However, if you are in a difficult situation or just want quick cash for your property, then you should consider working with a real estate investors.
