It is always smart to explore your selling options before selling your house in Oklahoma City. In our latest post, find out your selling options of your real estate if a direct sale, an FSBO or hiring an agent is the way to go for you!
Many people think that the only way to sell their house successfully is to hire an agent and wait around for a buyer. However, this is not the only way to sell. Many people are opting to sell on their own, either using an FSBO listing or selling to a direct buyer, thus eliminating repair costs and commissions. The best way to decide how to sell is to compare the financial aspects and time commitment required for each selling method. Take a look at some basic comparisons below!
A Direct Sale
A direct sale of your house will help you sell your house quickly and efficiently. Working with Local House Buyers will eliminate all selling costs, save you valuable time, let you plan ahead, and help you keep more cash in your pocket. You won’t need to spend any time or money on repairs, upgrades, cleaning or staging. We handle all of the paperwork and are able to pay you for your house right away. A traditional sale can take months, whereas selling directly to Local House Buyers will take only a few days. We will work on your schedule to make the process as simple as possible for you.
Direct sales are saving a lot of time. In most cases , direct deals are cash (not traditional mortgages) packages. There’s no drama of ratings, bank approvals, last minute loan denials. Cash closes faster than any other financing process.
There are benefits to a fast selling of your house. Selling land easily brings an end to house costs, such as insurance, heating, repairs, taxes, mortgage payments. This will save you a lot of time. Many customers who make direct deals are paying in cash, so there is no waiting on the banks to secure the loan.
You can save a huge amount of money on commissions, agent fees, and listing expenses by not paying a realtor. Direct home sales are usually “as-is” – as seller you don’t to need clean, fix, or restore. Leaky roof, huh? The HVAC doesn’t work? Fire risk, huh? You ‘re not responsible for fixing all of this with a “as is” deal.
You set the price (not the agent) when selling directly. If you’d like to sell it at a discount, fine. If you don’t, bid your time. In the modern world, if you can use a machine, there’s very little point in hiring an agent. Do you need them to look at the comps? Would you need them to tell you the price you want? Okay, my guess is no.
Now let’s take a look at some of the pros and cons of selling directly to Local House Buyers :
No Clean-Up Or Repairs
Listing your Oklahoma City House would allow you to make home repairs to get it ready for the MLS. Even small losses can significantly reduce the perceived value of your future buyer’s home. Making house improvements and maintenance will add up quickly as far as finances are concerned. You would also have to take into account the cost of washing, keeping things clean, storing personal belongings and clutter, as well as purchasing items if you decide to do any staging. Although these costs can be worth it in the long run, they should be considered well before you list your house.
Quick Sale Will Save You Money
Point blank, the longer you own the building, the most it costs you.Local House Buyers know this, that’s why the target is always to quickly flip a property! By selling your property to Local House Buyers right away, you can potentially save yourself months of wasted time and money. You ‘re probably paying more than you even know for your house. There are monthly expenses to remember, homeowners insurance , property taxes that you are responsible for up to the closing date, as well as daily maintenance costs. If you pay for things like pool service, pest control or landscaping, those costs will be over and done immediately.
The greatest drawback to “direct” sales is that there is less rivalry and pricing. When selling direct, houses are often not listed on websites or MLS, so you’re dealing with a smaller pool of buyers. In some cases, this may mean selling at a total price less than hiring a realtor (but – note that doesn’t mean making less money when you factor in realtor commissions and on-going holding costs).
The benefit of a smaller pool of customers means fewer people passing through your door, so you can keep up with your home sales. The downside here is that fewer bidders compete against each other.
One of the biggest complaints that buyers have about working with direct buyers in Most Cities is that the offers are usually below the market, but that’s for a good reason! The buyer is taking a big risk by buying your home as-is, because your home could be more damaged than you know! Plus, you ‘re not going to waste any money on fees or keeping expenses.
Selling On Your Own
Selling your Oklahoma City house on your own will require some real effort. It is wise to have some real estate knowledge under your belt so you can understand all laws and be prepared for the negotiation process. You should understand the local market, and be able to recognize a good offer. With a For Sale By Owner Listing, or an FSBO, you will need to handle all of the marketing on your own. This includes online listings, print materials, newspaper ads, open houses, and signage. You will also need to be able to answer questions and show the property to potential buyers as requested. If you do find a potential buyer, you will need to ensure all of the paperwork and contracts are handled correctly. When choosing an FSBO listing, it is always smart to speak to a local real estate attorney to make sure everything is done the right way.
Once you do it yourself, you ‘re in full charge of the selling process. You don’t have to listen to anyone’s suggestions on how you’re going to sell your house, how you’re going to price it, how you’re going to negotiate, how you’re going to prepare your home for sale, or any other decision. It’s all up to you now. There’s good and bad in this, of course. When you’re your own boss, you ‘re missing the valuable guidance and experience of a future professional.
If you want to do a proper job of selling your home, you ‘re going to have to spend a considerable amount of time selling your home. Your home needs to be inspected, repaired as necessary (but only repairs to make for better sale), photographed, filmed, listed, shown and more.
When you get interested customers, you’ll need to be present to answer their phone calls, show your home when they’re visiting, and negotiate a fair price. A lot of people are selling their own houses. Few of them are doing well, so you need to be ready to get to work.
Hiring An Agent
Hiring a local Oklahoma City agent is the choice for those who don’t mind some upfront costs, costs after the sale, and who don’t have a set time in which they need to sell by. When you put your house on the MLS, you will likely need to do some work to the house so it is competitive with others on the market. This can involve professional cleaning, staging, repairs, and upgrades. Once the house is listed, the agent will schedule showings which you shouldn’t be around for. It can make buyers feel uncomfortable, decreasing your chances for a sale. You will then need to wait to see if an offer comes in. This can happen in days, weeks, months, or sometimes not at all. If a buyer is found, you will have to go through the escrow process which involves inspections, appraisals, and any other red-tape from the lender. After an offer is accepted, it can be weeks before the property actually closes.
If you’re getting ready to buy or sell a home, you may be burdened with the pros and cons of hiring a real estate agent. Some people will avoid working with agents or real estate agents because they think the fees for real estate agents are too high. Some wouldn’t hire one because they’ve had a negative experience in the past.
No one would know your local market better than a professional property agent. He or she will know the trends in the market, how to set appropriate price points, and how best to advertise the availability of your home.
At Local House Buyers , we want to help you make the decision that is in your best interest. Whether you decide to sell directly, on your own, or with an agent, make sure to fully explore all your options before choosing how to sell your Oklahoma City home.
Do you want to learn more about the different selling options for you Oklahoma City house? We can help! Contact us today for more information! 405-395-2085
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