Want to sell your house on your own? Don’t worry, I’ve got you covered. It’s a fact that making a good home sale starts with a lot of investing. There are numerous costs to pay before you actually close the sale.
One of the biggest financial cuts is usually the realtor commission. A real estate agent will save you a lot of time and work, but they will take a portion of your profits, which might make you wonder, Why is Real Estate So Cheap in Myrtle Beach? (or wherever you want to live).
Their commission varies from state to state, from 5% up to even 20%. A lot of home sellers are not ready to give up this amount, so they decide to sell their house on their own. This is a risky decision that can end up costing you even more than you would have paid the agency.
However, if you really invest yourself in creating and executing a perfect strategy to sell your house, you can achieve your goal and extract your desired value from your house. For a start, you should learn about the most common strategies to sell a house on your own, and choose the one you want to perfect according to your circumstances.
Selling to a Cash Buyer
There is a lot of prejudice about this kind of trade. People usually think about the wholesalers taking advantage of people in trouble and taking their homes for pennies. There is a justified basis for this prejudice, but that is rarely the case.
There are honest companies that will not try to convince you into selling your home below the market price, but in a lot of cases, it’s a rational decision to turn to them. For example, you have inherited a distressed property, and you don’t have the time and money needed to invest to make a traditional sale.
If you contact a company like this, they will take a quick look and offer you a reasonable price for the house, based on their estimate of the investment needed to flip it for profit. If you agree, you can close the sale within a week, take the money and get on with your life.
In a lot of cases, this decision can turn out to be as profitable as going for a traditional sale. With a traditional sale, you would first have to inspect the house and invest in necessary repairs and improvements.
When you put all of these expenses on paper, add capital gains tax, and possible unforeseen expenses, depending on the state of your house, your investment can turn out to be equal to the price difference between a traditional sale and for cash sale.
Selling to a Friend
If you already know someone who is interested in buying your house, half of the work is already done. In that case, a realtor would be totally unnecessary, because you can skip the showings and open houses, which already means that you’re saving money.
Whether it’s a relative, a friend, or an acquaintance, this kind of sale requires complete honesty, because you don’t want to lose someone close to you over a couple of thousands of dollars. That means that you should inform them of all the flaws that the house has, and make a deal accordingly.
With sales like these, the buyer is more likely to ignore some of the flaws if you are honest with them, which can mean fewer repairs for you. However, for the same reason, you should be realistic about your price, if not even lower it.
Assuming that this is a friendly deal, it will take a lot of compromise from both sides, which means that you’re not in this to make a spectacular sale. Remember that you’re already saving money by avoiding agents and other fees.
A Traditional Sale
The strategy that aims for the biggest possible profit is a traditional sale without a realtor. This one requires the most time, work, and money, but if you do everything right, with a bit of luck, you can make the sale of your life.
For a start, you should inspect your house for any necessary repairs, because the buyer will inspect it anyway, and if they find something you didn’t tell them about, the deal might fall through. After making the necessary repairs and possible improvements, you should estimate the price.
You can estimate the price yourself by simply comparing the average square footage prices in your area, but in order to make a precise estimation, it’s probably best that you hire a professional. You should be careful not to overprice the house because that way it can end up sitting for months, and you will just be losing money.
It’s important to stage your house in order to make it more likable for viewers. The first impression is often crucial, so you should really dedicate your attention to this. You can try staging it on your own, as you know your house the best, but a professional stager will definitely point out its perks in the way that it appeals to the majority.
After you have staged the house, you can finally put it on the market. You should dedicate special attention to marketing strategies because this is what the realtors usually do. Because you don’t have a real estate agent, you should also be flexible for numerous showings and open houses.
Overall
As you can see from the above, it is quite possible to sell your house without a realtor. We have only roughly presented three of the most successful strategies and their basic processes, but if you decide to sell a house on your own, it will take much more self-education.
Selling to a cash buyer is the simplest and fastest option, but the other two strategies require a lot of dedication and patience. You should see for yourself if you are ready to make these efforts, and if you’re not you can always hire a realtor to help you sell your house, what the realtors usually do. Because you don’t have a real estate agent, you should also be flexible for numerous showings and open houses.
Selling a House is Hard Work – But It Can Pay Off
As you can see from the above, it is quite possible to sell your house without a realtor. We have only roughly presented three of the most successful strategies and their basic processes, but if you decide to sell a house on your own, it will take much more self-education.
Selling to a cash buyer is the simplest and fastest option, but the other two strategies require a lot of dedication and patience. You should see for yourself if you are ready to make these efforts, and if you’re not, you can always hire a realtor to help you sell your house.
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