It may not always be optimal to sell your home the traditional way by using a real estate agent. Some cases hiring a real estate agent may get in the way of your desired outcome. There are many instances in which selling your home without a realtor is an excellent choice.
Just as any big decision, it is essential to do your research, make a list of pros and cons, and then decide what is best for you.
Here are the top 5 reasons you should sell without a real estate agent.
Too Many Repairs
Sometimes homeowners have a difficult time keeping up on needed repairs within their home. In the case of rental properties, an owner can find themselves in an unfortunate tenant situation where the tenant caused a lot of damage. Typically tenants are not into fixing, cleaning, and caring for a property that they did not take care of in the first place, so expenses can quickly add up.
Other times, people inherit homes, and the house was not kept in good condition. Often, elderly homeowners are not able to keep up on repairs, so when someone inherits that home, they inherit a lot of repair expenses as well.
Whether you inherited a home you cannot afford to fix-up and care for, or you are a landlord that ended up with tenants who did not care for the rental, you may not have the cash flow it will take to maintain or prep these types of homes to go up for sale. Due to this situation, you are now looking to sell quickly.
When a home is in poor condition and needs repairs or updates, the house can stay on the market for an extended period and not get a lot of attention. The right offers may not present themselves in a healthy market. If you decide to sell this type of home with an agent, it may sit on the market longer than you can afford.
A home that needs a lot of repairs attracts buyers who think they can buy the house at a meager price. Negotiating with these types of buyers can be a hassle, and often they will add a lot of conditions in the sales contract.
In this case, skipping the wait and selling your home in an as-is condition to a cash buyer is a better option.
Relocating for Job
Life changes can happen at any time. A new job that causes you to relocate can be an excellent opportunity; however, when you have a home that you need to sell first, it can become quite stressful. Now, you need to sell your house quickly.
In this situation, you need to move fast, so hiring a realtor may not be the best option for you. First, you need to find your realtor; then they come up with a marketing strategy including flyers, open houses and plenty more aspects that will take a more extended period than selling your home directly to a buyer for cash.
Thinking about how to sell your home without a realtor may be a better use of your time due to your current situation. You can find great tips online about how to sell your home as a for sale by owner, and you may find a company to work with that will be your home for cash instead.
Relocating out of state is hard enough – worrying about selling your home and how long it will take will add more stress.
Unexpected Death in The Family
Losing a family member, especially unexpectedly, is very difficult and emotionally straining. It is hard to come to terms with the loss of a loved one. Suddenly, you have inherited a home as a result of your loved one passing away, and that can be very overwhelming. With the grief you already have, adding a property to the scenario is hard to cope with.
You might have to take time off of work to deal with the property if you do not live close. The home will need to be sorted through and packed up. Also, you may need to have an estate sale to sell a lot of the household items which takes planning.
After you have cleaned out the home and sorted through belongings, you may decide to sell. You have already missed time from work while you were cleaning out the house so it may be challenging to find the time to work on selling the home. Of course, you don’t want to leave the home sitting empty and adding expenses to your budget either.
This scenario might be most comfortable when you sell your home to a professional cash buyer. That way, you do not need to take the time to make any repairs or find a real estate agent and list the home for sale on the market. You can still get a great deal without all the headaches.
When people buy a property with a mortgage, they typically do a term of 30 years. This is a long time, and a lot can change in the neighborhood you purchased your home. Unfortunately, areas sometimes experience a downturn in property values. Or, maybe you were working on becoming a landlord and your budget caused you to purchase a home in an area that is not so great. Now, you want out of that property, but it’s in a bad neighborhood.
Using a real estate agent to sell this type of home can be difficult. Many quality agents do not like to take on homes that are in less than desirable neighborhoods. If you try to find an agent, it may be a newer agent or someone who isn’t that great at being an agent.
It is possible to buy a home, and during the 30 years, the neighborhood will fall on bad times. And if you were trying to be a landlord, but couldn’t afford a nicer neighborhood to start, you may decide it’s crucial to move on and sell the home. But, you want to do it quickly and with as little hassle as possible.
Foreclosure is Just Around the Corner
In some cases, homeowners fall on hard times and get behind on mortgage payments. Maybe you need to get out of your mortgage because it was a rental property and the landlord role is no longer working out for you, or you lost your job, either way, the idea that a foreclosure on your home is imminent can be very stressful.
The financial stress in this scenario is overwhelming. Trying to hire a realtor and taking the time to get the home on the market may not be a luxury you have. Besides, when you traditionally sell your home with a real estate agent, more costs will be involved.
It is essential to review your options and remember the last thing the bank wants to do is finish up the foreclosure procedure. You do have some time to work with your bank. You have options such as a short sale where your lender agrees to take a lower payoff allowing you to sell your home. In these cases, you can seek out help from a professional cash buyer who knows how to navigate through these situations.
If you are facing foreclosure, finding a cash buyer who will present a fair offer to you can help you avoid the embarrassment and additional stress of a foreclosure, the process can be quick, and if you find the right professional, you know you are going to get a good deal in the end.
How To Sell Your Home Yourself
When you need to sell and move out of your home quickly, then, likely, you do not want to take the time to hire a real estate agent and go through the hassle of putting the house on the market. You could, instead, do your research and find a professional buyer who will give you a fair cash offer and purchase your home quickly.
If you are considering selling your home for whatever reason it may be in Massachusetts; we would love to help you explore your options. We will make the process as simple as possible on you and provide you a fair cash offer for your home. Once you reach out to us, we can meet with you and make you an offer sometimes on the same day. The entire process can be quick and easy.
When facing any of the above situations we have covered, then there is enough stress to deal with. There is no need to drag the process out, instead move on quickly by contacting us today.