Pitfalls of a Traditional Real Estate Sale
Your house is an investment, and it is important for you to treat it as such. Given that real estate values in the local area have gone up significantly during the past few years, you might be thinking about selling your house to tap into its equity. You might think that also means that you need to reach out to a real estate agent who can help you sell your house. Even though this is one option, there are several drawbacks to a traditional sale. Take a look at a few important points below, and reach out to a real estate investor who can get you to the closing table as quickly as possible.
It Takes Too Long
One of the biggest downsides of a traditional sale is that the process will simply take too long. A real estate agent will have to work with you to stage your house, and then you have to wait for offers to come in. After this, you and your agent will have to work together to evaluate every offer on the table, trying to figure out which one you want to choose. Then, you will have to wait for the buyer to close. Because there are so many steps involved, it could take you weeks or months to sell your house, and you might end up having to pay two mortgages if you already have another house you want to move into.
You Pay Expensive Real Estate Agent Commissions
Furthermore, you will spend a lot of money on real estate agent commissions. As the seller, you will be responsible for covering a lot of closing expenses. For example, your real estate agent might expect to be paid close to 3% of the value of the home. Then, if the buyer also has a real estate agent, you might be expected to pay that agent’s commission as well. This could be tens of thousands of dollars that come right out of your pocket, so if you want to avoid paying expensive agent commissions, you may want to reach out to a real estate investor instead.
You Might Have to Give Closing Credits
Furthermore, depending on the condition of your home, you may have to provide the buyer with some closing credits. You have waited a long time to get to the closing table, and now the buyer is asking you to give him or her more money because your house requires a lot of repairs. Even though you might be able to save money by handling all the repairs on your own, it might take a long time for you to do so. Then, you will have to spend money to do the repairs yourself. If you want to skip the process of closing credits, you should consider selling your house to a real estate investor.
The Financing Might Fall Through
Finally, even after you go through this entire process, there is a chance that the buyer’s financing might fall through. If the buyer cannot get approved for a loan from a lender, then your house will go back on the market. You might have wasted weeks or months waiting for the sale to go through, and now you are right back where you started. For these reasons, you should consider accepting a cash offer instead, and you might be able to save additional money on closing expenses because you won’t have to pay any money to the lender. If you want to get a cash offer for your house today, you should reach out to a real estate investor to see how much your house is worth.
Call We Buy Killeen Houses to Get a Fair Cash Offer for Your Home
If you want to get to the closing table quickly, it would be our pleasure to help you. We are We Buy Killeen Houses, and we purchase houses in the local area. We can help you sell your house fast, and we will give you cash for your home. That way, you can keep more of the money in your pocket and spend less money on closing expenses. Contact us today to figure out how much money your house is worth.