So, you are thinking about selling your house.
First, you call a real estate agent. Then, you plop a sign on the front lawn. Right? Not exactly. Decisions need to be made and work must be done.
There are alternatives for selling your home providing you with a variety of methods to choose from.
No matter how you choose to sell your home, you should first consider what it will cost. Selling isn’t just about walking away with the big money. Expenses required to make it happen might surprise you.
All these costs need to be subtracted from the ultimate selling price. Then you can determine what the true proceeds from the sale of your home will be.
- Real Estate Commissions (percentage of the selling price) or fees
- Home Repairs
- Photography and Staging
- Moving Expenses
- Bridge Financing (cover the expense of 2 mortgages if new home closes before the sale of current one)
- Duplicate Home Expenses (insurance, maintenance, utilities, etc.)
- Closing costs
- Mortgage Penalties (if paying it off early)
How Much Of The Selling Price Do You Actually Keep?
Manage your expectations by calculating the realistic costs of preparing and selling your home. Know what you will really walk away with. Depending on which method you select, you may save a portion of or eliminate some of these expenses.
YOU'VE GOT CHOICES
Real Estate Agent
If you plan to sell your home traditionally by working with a real estate agent and listing it on the market, you will pay commission. When calculating amounts paid to both the seller’s agent and the buyer’s agent, this typically equals anywhere between 3% and 7% of the selling price. That’s a big difference.
For example, consider a home that sells for $400,000. Commissions paid total to between $12,000 and $24,000. With fees like that, it is essential to choose the right agent who will give you the best value for your money. What services do they include, and what do they charge besides the agent’s commission?
While working with a real estate agent has the appeal of earning higher selling prices, it will require more work and expense to make that happen. Keep reading. There are other alternatives for selling your home.
For Sale by Owner
To avoid paying steep commissions, many homeowners decide to sell their house themselves. This is even more attractive with homes selling so quickly and for record-breaking prices in recent history. But remember, you will still need to pay a fee to list it on MLS and any fees to the buyer’s agent who is helping them find their dream home.
Without the help of an agent to help you determine the ideal selling price, you will probably turn to a home appraisal. And you will be on your own when trying to determine what you must do to prepare your home for the market.
Flat Fee Real Estate Company
There is an option that fits somewhere between the traditional method of paying an agent commission and going it on your own. A variety of real estate firms advertise flat fees, which include a set list of services like determining price, photos, listing fee, negotiation, and paperwork.
Getting Your Home Ready to Sell
For any of these alternatives for selling your home, in order to get the top dollar you are hoping for, you will need to prepare it for sale. The cost to do so can be difficult to estimate because cleaning, repairs, and upgrades will differ for every home based on its age and condition.
Some efforts will impact the ultimate sale price a lot. Meanwhile, other projects will do very little to help increase the selling price of your home. Materials and labour costs will be different depending on the area you live in and the availability of contractors. These are some typical tasks to plan for:
- Energy Efficiency Improvements
- Deep cleaning
- Kitchen Appliances and Counters
- Refreshed Bathroom
- Roof Replacement
- Curb Appeal
Then What Happens Once Your House is Listed?
Once you list your home, potential buyers will come. Some will submit offers. Depending on which method of selling your home you selected, you will navigate the negotiation process on your own or with some help.
But these decisions are still yours to make. Accept? Decline? Counter? Everyone wants a good deal.
After you agree on an offer and closing date, you will sign contracts and the closing process begins. In the meantime, the seller must complete any additional repairs that were agreed to in the purchase agreement, share important documents, and disclose any known defects. Then you wait for the closing date to exchange money and keys hoping both buyers and sellers met all conditions, and the offer is secure.
But Remember – There Are Alternatives For Selling Your Home
Instead of Listing Your Home, Consider Selling Privately
Selling directly to a real estate investor can eliminate a lot of the stressful, time-consuming and expensive tasks required to sell your home traditionally. The money offered is the money you keep. Say goodbye to inconvenience.
- Zero commissions
- No cleaning, repairs, or upgrades
- Photography or staging not necessary
- No showings or advertising
- Timing is up to you
Many private home buyers advertise selling fast for cash for homes in as-is condition. It’s the simple way out if you don’t want to invest the time and money to prepare your home and list it on the traditional market. The cost of this easy button is a reduced selling price. But you are not paying all the additional expenses either.
When selling to MJS Properties, you will get the full market value of your home in its current condition. We aren’t discount buyers taking away all the value of your home. Instead, we get paid for the improvements we put into the home before selling it. We do the stuff you don’t have to.
Different Options For Different Situations
Selling your home traditionally is straightforward in theory. But for anyone who has done it, they are aware of the stress that comes along with all the decisions, repairs, and inconveniences. And that’s just for standard situations and homes in relatively good condition. What happens if you have other challenges to consider?
- Grieving the death of a loved one?
- Struggling with significant debt?
- Need to repair severe damage?
- Facing family tension?
- Overwhelmed with contents?
- Tenants creating barriers?
- Trying to work around inflexible time constraints?
MJS Properties focuses on helping people out of tough situations, making the impossible, possible. We aren’t in it just for the money. Alternatively, Matt truly wants to make a difference in the lives of others.
That’s what makes us different. With skills, knowledge, and vision to take someone else’s challenge and turn it into a showpiece, we are the perfect solution for those in distress.
MJS Properties Provides Customized Alternatives for Selling Your Home and Valuable Advice
Because every situation is different and each home is unique, every solution MJS offers is equally unique. We care about the circumstances of our clients and the challenges they are facing. Matt wants to help them transition from what they are currently facing and move forward.
Before choosing from the standard options like an agent, selling it on your own, or somewhere in between, we invite you to reach out to Matt and share your story. He is happy to have a look at your home and listen to what you are struggling with. Then he can provide advice and options to consider. Maybe he can help you select the best agent or maybe working with him is the answer.
Either way, you will have more information and more options than you had before you called so you can make the best decision for you and your home.