Selling a home can be a long and frustrating process and one that most sellers go through. You can use a realtor or you can sell the home on your own. There are also different ways of selling a home such as FSBO (For Sale By Owner) and direct sale.
So many people get wrapped up in the idea of listing, that they don’t explore all of the ways a home can be sold. Many people miss out on saving time and/or money by using the only solution they know how. There are many different ways to sell a house.
In this article, we will break down the pros and cons of each do you can make a smart and well-informed decision about how you wish to sell!
Pros of Direct Sale a House:
A direct sale offers many benefits people will often look over. It can save you a ton of time. Many people who make direct offers are paying in cash, so there is no waiting on the banks to secure the loan. This means you can sell your home in as little as a week! A quick sale will immediately end your financial obligations to the home such as insurance, utilities, and taxes. In addition, if you are not working with an agent, you will be able to save a ton of money on commissions, agent fees, and listing costs. Direct offers often will not require any cleaning, repairs or upgrades be done to the home. A direct sale will let you get a great price for your home, without having to wait. You can start planning your future now because right away you will know how much you are getting for your home and when.
Cons of Direct Sale a House:
The final sale price on a direct sale is often lower than retail.
Pros of Selling Yourself:
You are in control of everything. You will have all the power and be able to decide your best course of action. Once you sell, you won’t have to deal with paying an agent’s high commission.
Cons of Selling Your House By Yourself:
You are in control of everything. You have to do all the work! You are in charge of advertising, dealing with potential buyers and their agents, reviewing contracts, handling negotiations and dealing with title companies. It can be a huge headache if you aren’t familiar with the process. And because it is your house, you might not be all business, and will instead operate with emotion. You cannot become offended by low offers, or overprice the house when you know it isn’t worth what you are asking.
Pros of Working With an Agent:
A good agent will take care of the sale on your behalf. A GREAT agent will go above and beyond, helping you transition into a new home. An agent should have connections and be able to offer resources to get you settled. Take advantage of the services at their disposals such as photographers and professional stagers. This Iis I why you are paying them such a high commission!
Cons of Working With An Agent:
If you sell with an agent, you will be responsible to pay 100% of the commission owed to them. This is typically about 6% of your final sale price. In addition, you will be paying about 2% of the final sale price, toward closing costs. You will also have to pay up front to get the house ready for listing. This includes a professional cleaning, making repairs and cleaning done on a constant basis. There are also no guarantees on when it will sell. You will not know how much you are getting or when you are closing until the very end!
There are many ways to sell your New Jersey house. Before you do anything else, make sure you fully research the options available to you. Don’t settle for one option until you learn what other selling methods will mean for you!
The decision to sell your home is one that should be carefully considered. There are many factors that you should weigh before making your decision. However, no matter which path you decide to take, we hope that this post has been a valuable resource to you and that you have a clear understanding of the differences between the three methods. Thank you for reading, we hope you have a great day!