If you’re planning on selling your home, you’ve probably heard a plethora of different myths. The problem is that you may not know which information is mythical and which is factual.
Selling or buying a home is a complex and emotionally-involved process. It’s best to be as vigilant and informed as possible.
Selling your home without a realtor can be an even trickier process if you fall victim to the common myths. However, you can save on commissions and avoid some of the hassles that come with selling a house.
These myths debunked will what you should and shouldn’t believe as you embark on this journey. Beware of scam artists, as they are around. Stick with reputable investors to keep your finances safe and secure.
Stay informed and make the process go as smooth as possible.
Myths Debunked: Don’t Let Other People’s Misconceptions Get in the Way
When it comes to selling a home for cash, you may be faced with a lot of opinions from friends and family. You should steer clear of scams, but a few scam artists shouldn’t ruin the experience altogether.
Cash home buyers allow you to sell your home quickly without the hassle of listing your home. Don’t let these myths get in the way of selling your home fast for cash.
Myth: This Is the Last Ditch Effort
There are many reasons people choose to sell their home without using a realtor. It isn’t always a desperate attempt to get some money.
The biggest benefit of selling a home this way is you can avoid the listing process. Listing a home takes months of preparation and paperwork.
Even then, there is no guarantee that the home will sell. All is left to chance.
There is no obligation to sell to an investor. If you do not like their offer and can’t negotiate, you do not have to sell.
Myth: You Have to Make Repairs Before You Can Sell
Selling your home this way is not like a traditional sale. When you sell with a realtor, buyers may ask that any necessary repairs be made.
When you sell to an investor or investment group, you do not have to worry about making any repairs. Often, investors plan on making their own changes to the property.
They are investors. They buy homes, make improvements, and then resell them. Even if you do make certain repairs or improvements, they may change them anyway.
Your work and money would have been a waste.
For this reason, investors don’t usually mind making repairs themselves. This means you can sell your home as-is. That’s a luxury that sellers do not have in traditional sales.
Myth: You Won’t Get the Full Value of the Home
Investors will offer a fair price for the home. Many investors will offer a free inspection before they make an offer.
Once the inspection is complete, they will make an offer that you can’t resist. The investor will not have the property appraised, but instead will offer what they think is fair.
This will depend on a variety of factors, including the condition of the house and its location.
Myth: The Location Will Damage Your Offer
You never know exactly what an investor is looking for. You may believe that an area is undesirable or uninhabitable. The investor may see a different story for the property.
Don’t make that decision for yourself. Talk with the investor or investment group and find out whether or not they’ll make an offer.
Each property holds untapped potential. You’d be surprised by how many “ugly” properties hold potential value.
Myth: You Won’t Get as Much Money as Using a Realtor
Many people will try to tell you that you will get more for your home if you go through a realtor. This simply isn’t true.
When you sell with a realtor, you have to consider the commission. Often, the commission is 5-6%, but this varies.
Total closing costs can reach as high as 10%. The average closing cost on a home in the US is $13,357. On top of that, homeowners typically spend more than $4,000 on projects leading up to the sale.
When you sell to an investor, you don’t have to pay a commission or fees. They don’t have to worry about the same overhead expenses as a realtor.
Effectively, you can avoid these closing costs.
If the offer seems lower than what you would get on the retail market, remember this. You will ultimately save on fees and commission, putting more money in your pocket.
The money you save can go toward your new home and moving on with your life.
Myth: Your Mortgage Won’t Be Paid Off
Many believe that selling your home to an investor won’t pay off your mortgage. A responsible investor or investment group will make sure that your mortgage is taken care of.
In these types of transactions, sellers and investors alike are looking for as few issues as possible. This means the investor should do their part to make sure you, the seller, are satisfied.
You should be careful when you decide to sell to an investor. While most are honorable people, there are some bad ones in the mix.
Read as many reviews as possible and call their references. This will save you trouble in the process.
Myth: You Won’t Get Cash for Your Home
Investors may offer a variety of different payment options. You should speak with the investor before you accept an offer.
Make sure you are aware of the payment options. Make sure you are comfortable with the agreement you reach.
Investors may offer scheduled payments or certified funds. They may even offer to take over the mortgage completely.
More often than before, investors offer cash offers. If you are in a pinch, this may be the most attractive offer.
Benefits of Selling to an Investor
Selling your home can be a long and difficult process. On top of that, your emotions may get in the way.
Selling to an investor won’t take away the emotional attachments. However, it can make the process a bit easier for everyone involved.
More often than not, you will get a cash offer based on a free inspection. Once the two parties involved reach an agreement, it usually takes no more than 7 days to complete the transaction.
With a traditional home sale, closing may take 45 days or longer. Unexpected delays are common.
When you sell using a realtor, it will take you months to even get the house listed. Then, you will need to wait for the right buyer to come by and make an offer.
There is no guarantee that a buyer will ever make an offer.
When you sell to an investor, they will let you know straight away whether or not they will make an offer.
If your home is a rental property, you won’t have to worry about losing months of rental income while the house is on the market.
Should You Sell Your Home This Way?
Selling your house to an investor isn’t for everyone. Once you receive an offer, you can decide whether or not to continue with the process.
If you do not like the offer, you can always go ahead and sell the home with a realtor.
If you find yourself in a pinch, it may be easier to sell to an investor. Such cases might be if you need to make a quick move or just need money quickly.
Remember that selling your home may be emotionally trying. Our homes hold some of the most intense emotional attachments we have in our lives. Such is a fact of life.
The process of selling to an investor is much quicker and more painless than you might expect. It’s like ripping off a band-aid that you’ve been neglecting. Skip over commissions and closing costs for a hassle-free transaction.
You’ll be able to move on to the next phase of your life sooner than if you sold your house on the market.
The Bottom Line of Selling Your Home Without a Realtor
When you sell your home, you may be faced with a variety of different options and struggles. We know that this process can touch on some emotional triggers.
You can sell your home the traditional way with a realtor, but why pay the commissions and fees? When you sell to an investor, you can skip the closing costs altogether.
Investors are as interested in hassle-free transactions as you are. Speak with an investor today to find out what you can get for your home.
Remember that all properties have value, even if you don’t believe yours does. Investors will almost always be willing to make improvements.
Submit your info today to find out how much you can get for your home. We hope these myths debunked have helped you better understand the process. Get a cash offer and move on to the next adventure.