When deciding to sell your home there are two primary avenues you can chose from to complete the transaction. As a homeowner you can either list with a local real estate agent, market, and sell your home on the open market, or you can choose to sell to an all-cash home buyer. To help you decide which route to select, we have compiled a list of the top 4 recommended questions to ask your real estate agent before listing and have provided you answers to the same question according to how an all cash buyer closes on a home. Let’s take a closer look.
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What Are Your Fees?
Agent fees are negotiable; however, a listing agent will generally request a 6% full service fee be included in the listing agreement. This includes 3% commission for the seller’s brokers and a 3% commission for the buyer’s broker. These fees are unavoidable when listing on the market since this is the main source of income for the real estate agents.
Gulf State Homebuyer’s charges no agent fees. Since we are working directly with the homeowner, we are able to forego additional fees, providing sellers the highest return on their homes.
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Can You Explain The Process of Selling To Me?
When listing a home with an agent, the process of selling can be long and exhausting. The first step is agreeing on the terms and conditions of the contract. Once the homeowner has hired an agent, the agent will then put together their marketing strategy for the home. This can include open houses and can take months to effectively attract a buyer. Once the agent finds a buyer, the property will enter into escrow. During this time, the buyer will complete their due diligence process and obtain funding. It is not until escrow closes that the transaction is finally complete.
The process of selling to Gulf State Homebuyer’s is much simpler. Once you contact us, we will complete a home evaluation. If you decide to accept the offer, we will complete all necessary paperwork, leaving you with the simple steps of signing on the dotted line and collecting your cash.
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What’s the Best Price You Think My Home Can Sell For? Can You Guarantee That Price?
Using market comparables a real estate agent will outline the expected closing price for your home (the list price). They will take into consideration your homes amenities, location, and quality, and compare it with the homes that have recently closed and ones that are currently listed in the area. The agent will then market the home at the agreed upon price with the intention of closing at that value. Remember though, this is not a guarantee by the agent – the actual closing price will vary depending on your agents marketing strategy and the market demand. Don’t forget as well, there will be additional closing costs accrued at escrow. These fees will be deducted from your profit at the end of escrow.
Similar to that of a real estate agent, Gulf State Homebuyer’s will complete a valuation of the home using comparables. The primary difference when selling to an all cash buyer however – we will close on that estimated value. There is no need to market; instead, we provide an offer at the price we are willing to close.
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How Long Do You Think It Will Take To Close On My Home?
Depending on the status of the market and the accuracy of the listing price, the length of time a home is listed can very. (Note: Most real estate agents will not openly admit that they overpriced a home to get a listing! However, this can have a negative effect on the sale). Currently in Baytown the average time on-market for a home is seventy days. This time only includes time listed and does not consider the time it took to prepare the listing and how long it takes to close escrow. Depending on the closing contingencies, the time to close escrow can very as well. A finance contingency will generally need at least sixty days. This means that you can expect it to take at least four to five months to close on your home.
Gulf State Homebuyer’s will close in five days. We provide quick valuations, and if a seller is interested in accepting the offer, the final closing date is determined by the needs of the seller. However, on our end at Gulf State Homebuyer’s, we can close quickly!
As you can see, there are quite a few benefits to selling to an all cash home buyer. If you are interested in learning more, please contact us. There is no commitment to sell – we will simply start with a conversation and if you are interested, move forward with an evaluation.
