You’ve decided it’s time to sell. Should you hire an agent to sell your house in Omaha, Nebraska? What sort of repairs will you have to make in order for it to be presentable to prospective buyers? Are you Okay paying the real estate agent commissions? How long are you willing to wait for the house to receive an offer? How long will it take to close? How does the house look when I leave for work in the morning? Are you available to show your house with 24-hour notice, or less? There are so many questions it can leave your head spinning!
Commissions and Fees
Real estate agents are paid based on a percentage of the sale price of your house. The usual commission is 3% per side, so if you sell your house for $400,000, you would have to pay $24,000 in commissions, along with the traditional seller’s closing fees and other possible transaction fees to the closing agent and the real estate agents office. If you don’t use an agent, there will be no commissions paid to a buyer’s or seller’s agent which translates to savings for you. Some people don’t realize that real estate investors like Anna Buys Houses don’t charge a commission or any transaction fees. It’s always good to ask about fees and commissions upfront, so you know what to expect and can factor those numbers into your sale calculations.
The Waiting Time Frame
Real estate agents have access to the multiple listing service, or MLS, which allows your property to be found in searches for property. Going through the traditional MLS sales process is absolutely fine and most sellers do it the traditional way. However, before making this decision, it’s good to know it may take a month or two or longer to get a qualified buyer lined up to purchase your home. Traditional house purchases using agents and the MLS usually require financial qualification from a bank, mortgage underwriting time, a property inspection; and as we know from seeing listings that say “Back on the Market!”, some buyers may not end up qualifying in the end. A second good option can be to consider selling to a real estate investor (also commonly called a direct house buyer); these folks typically have a network of other house buyers, many of whom are able to pay using cash, who they can contact and then move to buy your home much more quickly.
Inspections & Repairs
Professional house buyers will usually purchase houses As-Is. As a seller, this means you don’t have to worry about repairs before closing or any other additional expenses you were not planning on. There are some companies that do not require inspections which makes it a truly As-Is transaction. When you use a real estate agent, the buyer’s agent will almost always order an inspection of the property, and this can add time to the sales process. If they find something wrong with the property structure, they may require you to fix it out of pocket before the property closes.
Showings
If you decide to use a professional house buyer in Omaha, Nebraska, you don’t have to worry about going through a roller coaster of emotions. There will be no frustrating, middle-of-dinner phone calls asking if you are available to show your house. You won’t have to fret about leaving your house spotless every day before heading to work, just in case there is a showing that needs to take place while you’re gone!
There are a lot of situations to think through when you’re ready to sell your house. We can help you decide which avenue would be best for you.