You’ve decided it’s time to sell your house. Should you hire an agent to sell your house in New Jersey? How long will it take to close? What sort of repairs will you have to make? Are you available to show your house with 24-hour notice, or less?
Commissions and Fees
Real estate agents are paid based on a percentage of the sale price of your house. If you do not use an agent, there will be no commissions paid to a buyer’s or seller’s agent. That means thousands of dollars in savings! The average commission is 3% per side, so if you sell your house for $100,000, you would have to pay $6,000 in commissions alone, These doesn’t come with the traditional seller’s closing fees and other possible transaction fees to the closing agent and the real estate agents office. Real estate investors typically do not charge commission or transaction fees, and if they do, it is extremely low in comparison.
Waiting Time Frame
Real estate agents have access to the multiple listing service, or MLS, which allows your property to be found in searches for certain features of a property. This may sound great, but how long will it sit on the market? How fast will you receive offers? Private home investors and other direct house buyers typically have a network of other house buyers, so if your property doesn’t fit their portfolio, then it may fit one of their colleagues’ portfolios. Either way, this means very limited waiting time for an offer. Also, when you sell your house in New Jersey to house buyers, they will typically close faster than traditional house buyers, and usually in pay full in cash. Traditional house purchases usually require qualifications from banks, mortgage underwriting time, property inspection and the buyer may not end up qualifying in the end.
Inspections & Repairs
Professional house buyers in New Jersey will usually purchase houses as-is. What does this mean to you as a seller? It means you do not have to worry about any repairs before closing or any other surprise expenses you were not planning on. There are some companies that do not require inspections which makes it a truly as-is transaction. When you use a real estate agent, the buyer’s agent will almost always order an inspection of the property. If they find something wrong with the property structure, they may require you to fix it out of pocket before the property closes.
If you decide to use a professional house buyer in New Jersey you will not have to worry about going through a roller coaster of emotions. There are no infuriating calls at the wee hours. You don’t have to worry about leaving your house spotless every day before heading to work, just in case there is a showing while you’re gone. You don’t have to worry about possibly running into someone who has tons of questions about the house.
There are a lot of situations to think about when you are ready to sell your house. We can help you decide which avenue would be best for you.