People move for any number of reasons. Perhaps you have to relocate for work, find a bigger home to accommodate your growing family, or have financial circumstances forcing you to reevaluate your living situation. Statistics indicate you’ll likely end up having to sell your home at least once in your lifetime. Whatever the reason, selling your home and moving are rarely carefree and straightforward propositions.
There are many options when it comes to putting your house or condo on the market. Of course, the traditional route is to find a knowledgeable real estate agent who can guide you through the end-to-end process – from listings to inspections to contracts. They may even be able to help you find your next residence. However, that kind of expertise comes at a cost. You’ll have to be prepared to pay out a percentage of the sale price of your home for their services. Sure, you can try to sell it yourself and attempt to navigate the local real estate laws, or even work with some of the realty agencies popping up that advertise lower commissions. Another alternative worth considering is the continuing trend toward utilizing the services of professional homebuyers. While your initial reaction may be to bypass these businesses because you believe they will typically not offer what you think your house is worth, it makes sense to run the numbers in many instances. Like any business, they may not also have the best deal every time, but it doesn’t hurt to understand your options.
For example, maybe you’ve lived in the same house for 20 or 30 years in Riverside, California. Now, you’re getting ready to retire. Your kids are grown and out on their own, and you’re prepared to fulfill your lifelong dream to head a little bit further west down the freeway and live at the beach. You want to sell your home in Riverside, CA, but you’ve accumulated several decades of wear and tear, and renovations have taken a back seat to family vacations and college tuition. If you meet with a realtor, you’ll settle on an initial listing price and probably come away with a laundry list of tasks to make the home more appealing to potential buyers. The costs for repairs and cosmetic changes could be significant.
When you do find a buyer, there’s no guarantee they will offer the asking price. Your agent may have to haggle a bit, and you could have to make some concessions as to price and closing costs. After the home inspection, a whole new set of issues will bubble to the surface. While the sellers rarely have to address all of them, there could be some serious and expensive fixes in store if the inspector finds mold, termite damage, or a leaky roof. All the while, you’re packing up and trying to keep the house presentable.
Here’s where the math kicks in. Professional homebuyers bypass all the fuss. While you’ll never see an offer that matches the asking price that a real estate agent calculates for you based on market conditions and so forth, once you factor in all the money you’d spend to get the house ready to sell, as well as closing costs and the commission, you might not be too far off the mark. Homebuying services will knock weeks off the process, eliminating the need for repairs and cleaning.
People’s homebuying and selling experiences are as unique as they are. These are the biggest financial transactions that the majority of people will ever encounter in their lifetime. This is why it’s important to understand how the system works and which methodology works in your favor. While turning to professional homebuyers isn’t for everyone, they are worth researching to understand whether the benefits that they offer suit your situation
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