The majority of homeowners tend to find themselves in a place where they consider selling their property to a professional house buying company for different reasons. This article will provide a comprehensive list of benefits and disadvantages regarding selling a property in Houston and the value of using companies to buy your property quickly for cash. The greatest benefit is the convenience and honesty of the service. A homeowner who desires to have a precise timeline and know immediately what price they will receive will always be benefited by selling to professional house buyers in Houston.
How Much Will You Really Take Home?
By marketing a property on the MLS, you can certainly receive a higher offer and an increased price for a home. However, in exchange for receiving a higher price on the property, you will need to pay realtor fees with commissions. You will also need to consider property holding time, along with negotiating time and a lack of certainty regarding the closing of the sale. The majority of homeowners may seem excited by the prospect of receiving more money via an MLS sale, but they do not consider that they will hold the house for longer and need to pay more taxes, utilities, and mortgage payment rates.
If the timeline and accurate closing dates are important aspects to your property sales planning, it may benefit to sell the house to a corporation. If, however, you have more time and are not in a rush then the longer wait couple potentially result in a greater sale amount. The traditional buyer may be subject to loan approval processes and the house needs to be in a good enough condition for conventional lenders to approach the property. A retail buyer who plans on living in the home would not typically be concerned in this issue as they are not concerned with having any initial equity.
If the home does not qualify for a traditional loan, then a house buying company sale may be the most beneficial alternative. Generally, the house buying corporation can receive significantly cheaper construction prices for property repairs that may be necessary. This means that while the end user may be willing to give up on the opportunity to capture equity, they may not be willing to pay as much for a property with deferred maintenance. This is due to the fact that it would be their cost to fix the home and the overall cost can be as much as 100% to 150% – more than a business that repairs homes for a living.
There’s More Than Just Money Involved
The final point to take into account is the home owner’s time valuation. A home buying corporation should be able to make a same-day offer on the property and give you an exact date on closing. They should also be able to close the sale with minimal walkthrough requirements and access. While a traditional retail buyer will pay more, using a traditional retail buyer will be more time-consuming as one will need to conduct showings with many people seeing the property before a sale is made. Having a property available on MLS can be frustrating and can result in daily interruptions for the seller as people come to see the house.
Homeowners who are selling their homes should consider what is most valuable to them. If they have time and do not mind showing the property to potential buyers or require an accurate closing date, then they should list the property with a real estate agent. If, however, time is limited and a timeline is important, then a home buying corporation is recommended. In the end, it is about what is more useful for each homeowner. This is not the definitive guide to selling a property in Houston, but we hope to have given you a good jumping off point.