Selling your house to a direct buyer can provide a number of benefits you won’t receive by listing your home on the local MLS. In this article, we review several ways selling quickly can provide financial benefits.
Once you decide to sell your house, it’s wise to consider the best way to do that and all your options in order to maximize the profit from the sale. As you know, owning a house can be expensive, especially when holding and selling costs are factored into a sale. Taxes, utilities, cleaning, HOA fees, and staging for open houses are just a few of the expenses you’ll face, and that doesn’t include the agent commission once it sells via the MLS. Selling via the traditional MLS route also means it could be weeks or even months before a qualified buyer makes a good offer and is able to come through financially to close, ultimately costing you hundreds if not thousands of dollars in the process. Read on to learn more about how a direct sale can benefit you.
Reduce Holding Costs
We all know owning a house can cost a significant amount of money. When you list your house for sale, it could take a while before a buyer is interested and makes a good offer. And once you have a great buyer, the sale seems to be sailing along through the escrow process, only to have the deal fall through because the buyer can’t get financing worked out in time. While your house sits on the market and throughout the escrow process, you’ll be continuing to pay for the taxes, water, electricity, natural gas, trash service, insurance, and of course, the mortgage. If the house takes a few months to sell, all these holding costs can potentially add up to thousands of dollars. This is money you could be spending elsewhere!
Sell Without Making Repairs
Repairs on a home can be costly as you continue to fix things up in preparation for the sale. It can feel counterproductive to spend a fortune on a house you’re trying to get rid of! Plus, repairs spiral, as one repair leads to another, sometimes turning into a high-cost project. Rather than go through all this time, effort, and expense, some people choose to sell the home “As-Is”. They can either list it with a realtor in this condition, in which case it’s likely to receive less attention than other properties on the market, or they can choose to sell it to a direct professional home buyer who is usually pleased to buy the property As-Is because they are buying it as an investment.
Listing your house with a real estate agent on the MLS can produce a fair amount of anxiety as you work to make repairs and get it ready for sale. Anxiousness can then also settle in as you wait for offers and potentially fret about the sale falling through due to lack of financing or other contingencies included in the potential buyer’s offer. The process can be a bit of a gamble and provide a high level of uncertainty for those wanting to move within a specific timeframe but who just aren’t in control of the timing of the sale. A listing provides no guarantees, whereas a direct sale to a home buying company allows you to know exactly what you are getting for your home and on what day. This is a big plus.
Purchase Your Next Home Sooner Rather than Later
When your current home is all tied up in a traditional listing agreement and financing for the next home purchase is contingent upon the current sale, you can be left with a deep pit in your stomach, as you feel you’ve missed out on being able to move quickly to buy your next place (the place you really wanted)! Having funds tied up when they can be better used elsewhere is a difficult situation to be in. When you sell your house to a direct buyer, you’ll typically be able to liquidate the property more quickly than going through the MLS. Selling directly to a home buyer helps you move faster through the sales process, so you don’t miss out on another property or a better investment because you are waiting around for a buyer.
Pay Off Debts More Quickly
Perhaps you’ve inherited a property and are facing unexpected bills or the property falling into disrepair, or even rental tenants who aren’t taking care of the place like you’d like them to. A fast and direct sale of the house can provide the funds you may need to pay off the debts owed, so you can get out of the situation. Anna Buys Houses in Omaha works with local homeowners who are in challenging situations when they need to sell a property quickly. We strive to pay fair prices so you can get the cash you need from your home sale in Omaha.
Selling your house doesn’t have to be stressful, time-consuming, or expensive. Some properties and situations are better handled by selling directly as opposed to a traditional listing. Selling through the traditional MLS works well in many cases, but when time, money, and ease of sale are influencing factors in the decision about how to sell, It’s always good to know all your options, including selling to a professional home buying company.