Different houses on sale have varying pricing points regardless of the location. If you want to sell your home, you need to sell it as fast as possible and get the highest value for it. Well, you should know that the real estate market is tough and you have to work harder to sell your house fast for the full asking price. As such, you might be forced to improve the interior, exterior or curb appeal of your home to boost the value.
However, if you thinking how do I “Sell My Detroit House Fast” and have a rundown home but don’t have enough money to handle repairs, the situation is completely different. You might be stuck in a house that needs repairs because you inherited it or had bad tenants previously. Well, a house that requires repairs will have a reduced value and could last in the market for a long time before an offer comes up. It could be daunting if you want to sell it fast, relocate, buy a new house or downsize.
How To Sell A House That Needs Repairs Quickly
You might opt to get your house off the market and look for cash to fix the house before selling it later for a higher price. However, not everyone has this option available to them. If your house needs repairs and you want to sell it fast, you can only sell it to a distressed home buyer. Sell your home to companies that buy it for cash.
Simply put, these are distressed property buyers (mostly local real estate firms owned by real estate investors) looking to invest back into the community. If you find a reputable company that buys houses for cash, you can sell your home that requires repairs fast and conveniently without going through a realtor.
Keep in mind that each cash buyer for your home works in a different way. The process is always the same and here is what you can expect from such a transaction.
1. Contact the cash house buyer through email, phone or online form on their website. They will ask a few questions about your property such as the current condition, the specifications, the type and other features.
2. The company will send over a local representative to inspect the house and make an offer onsite. Companies that buy houses for cash are very flexible so you might be able to negotiate the offer on your home to get a higher price.
3. Once you have accepted the final offer, you can now sign the purchase agreement and choose the closing date of the sale of your home.
Why Should You Sell Your Home To A Cash House Buying Company?
If you are thinking about selling your house for cash, here are some of the benefits you can enjoy.
1. Fast Sale
One of the top benefits of selling your house for cash is the speed and practicality of the entire process. First, you will be able to close the sale faster than using a realtor or the traditional selling process. Most of the companies that buy houses for cash close in 14 days. It is shorter compared to the 70 days for an average sale through a realtor. Even better, you don’t need to stage your home, have an open house, improve curb appeal or anything else that might take months to get through.
2. No Repairs Needed
Cash buyers will buy your home as is. Therefore, you don’t need to look for cash to handle the costly renovations or repairs that might take weeks or months before the house is ready. Some of the houses are usually old, ugly and rundown and it would be a money pit just to make them look great again.
3. Higher Certainty Of Sale
When using a real estate agent, the chances of selling a house that needs repairs are slim. It could take years to finally sell the house. With a cash house buyer, selling your house, regardless of the condition is a 99% certainty. You don’t have to worry about the sale falling through because of the buyers changing their mind or lack of funds.
Plus, you don’t have to worry about the sale falling through at the last minute because of a lack of funds or changing their mind.
4. No Commissions, Closing Costs Or Fees
When you hire a realtor, you should expect to pay a commission of about 5 to 6% of the sales price and closing costs of about 2 to 5% of the selling price. However, by selling it for cash to cash buyers, you don’t need to pay brokerage fees, realtor commissions or closing costs. ‘We buy houses for cash’ companies will cover the closing costs.
5. Cash Payment
If you are looking to sell a house that needs repairs, you might be short on time or cash. As such, you don’t need to go through the traditional process that involves financial concerns and delays. When you sell to a cash buyer, you don’t need to worry about the buyers qualifying for a mortgage. Even better, you will get paid in cash.
Yes, using a realtor to sell your home might be advantageous but not when you are selling a home that needs repairs. We Buy Houses Detroit as-is so you Sell to a cash buyer and enjoy these and many more benefits.