Low-Cost Options for Selling a HouseFast
They say that cash is king, and that’s certainly true if you need to sell your house fast!
In fact, 2021 saw a rise in cash sales, with cash sales making up 25% of all sales back in April. For buyers, this can be great news as it can help the transaction move a lot faster. Traditionally, you often have to wait for buyers to obtain financing.
If you need a quick sale, cash sales can even allow you to cut out the cost of a realtor. Let’s take a closer look at low-cost options for selling houses fast.
The Cost of Selling a House
Selling a house on the open market usually seems like one of the most high-profit options. But it comes with a lot of hidden costs.
Realtor Fees
Realtor fees have dropped recently. That sounds like great news until you look at what it really means.
You can typically expect to pay between 5-6% of the sale price of your home to your real estate agent. In 2020, this dipped to an average of 4.94%. That might sound like a small percentage, but think about how much that will cost you on an average house.
The national average sale price rose 13% in the last year. The latest figures put the median sale price at $392,000. At 4.94%, you’d pay your realtor $19,364! You need to consider whether that represents good value in your situation.
In some cases, the buyer shares these fees. But be prepared – in most cases, it’s the seller’s responsibility.
Getting the House Shipshape
OK, buyers don’t necessarily expect perfection. But they won’t accept holes in the roof, or dodgy foundations. Unless you get a highly motivated cash buyer, you’ll need to put those things right before listing.
Your house may also be structurally sound but seriously outdated inside. This often happens when properties are inherited and have not been redecorated for many years. Many buyers do not have the vision or the inclination to take on a major reno.
Home Staging
Whether you hire a company or go the DIY route, home staging is essential to show your house in its best light.
It will at the very least need a thorough clean and a fresh coat of paint. You may want to look at depersonalizing the house and renting furniture. All of this adds up but it can help you achieve a higher sale price.
Closing Costs
Closing costs are normally paid by the buyer. But there’s a chance they’ll ask you to contribute, and these costs can soon mount up.
Low-Cost Home Selling Options
It’s easy to see how the costs of selling can quickly get out of hand! But there are a few low-cost options that can help you sell your home for less.
List the Home Yourself
You can think of this as the ‘be your own realtor’ option.
You prepare your home, photograph it, describe it, and list it online yourself. There are several sites that allow you to list your own home and get exposure on property websites.
The difficulty is there’s actually more to a realtor’s job than meets the eye. They know how to present your home in the most appealing way to buyers. They are great at conducting viewings and showing your home off to its best advantage.
Plus, they come with contacts. There’s no substitute for their list of motivated buyers who can potentially help you secure a quick sale.
Flat Fee Real Estate Agent
If money’s tight you can sometimes find an agent who’ll agree to a flat fee for selling your property. But how high on their list of priorities you will be depends on the individual.
Advertise As-Is
If you go down the real estate agent route, you may generate more interest with a low price. Advertising the home as-is comes with a risk – it’ll immediately turn off the majority of buyers.
But it may help you to secure a cash offer and get things moving more quickly. The problem is that you’ll still have to part with the real estate agent’s fee.
Sell Your House for Cash
The best way to secure a quick sale for your house is to work with a cash home buying service. This is how the process works:
- Complete an online form or call to provide some basic information about your home
- They’ll contact you to arrange a walkthrough
- They’ll send you a no-obligation cash offer within 24-hours
- If you accept, you arrange to close the sale at a time that suits you
This is the perfect option if you need cash fast and to be free of the responsibility of maintaining your home. You cut out all the red tape and the expense of waiting for the home to sell. Plus, there are no agents fees to pay.
When Is a Cash Sale a Good Option?
A cash sale is a great option if for some reason you need to sell your home fast. You will receive a fair price for your home, given its condition and the current market. You will get the cash in your pocket very quickly.
You may benefit from this type of service if you:
- Are going through a divorce
- Have inherited a property
- Want to avoid foreclosure
- Can’t afford repairs needed
You can discuss your situation with them and agree on a closing date that works for you.
Selling Your Home the Low-Cost Way
Selling a house can be an expensive and time-consuming business. Although there are several low-cost options, most of them involve a lot of time and effort. If you go it alone, you may still end up achieving a low price for your home.
When you sell your home to WeBuyHouses, you’ll receive a fair offer within 24-hours of the walkthrough. There’s zero obligation. If you decide to go ahead there will be no fees to pay.
Call us at (615) 619-4840 or contact us online for more information today!
