Most people know what a real estate agent is and have pre-determined ideas or have experiences about what they do for you, as a seller. On the other hand, some sellers might not know what to expect when working with a professional home buyer in Belton. Here are some pros and cons of selling your house to a direct buyer.
The Pros and Cons Of Selling Your House To A Direct Buyer
Pro – Straightforward Closings
Direct buyers typically close faster than traditional home buyers, and usually pay full in cash. Traditional home purchases usually require qualifications from banks, mortgage underwriting time, property inspection time and the buyer may not end up qualifying in the end. There are also normally no commissions paid to a buyer’s or seller’s agent which means thousands of dollars in savings. Here at LJE Property Solutions, after you send us information about your home, we can make you a no-obligation, fair-cash offer in as little as 24 hours. After that, we can close at a local, reputable title company in as little as 7 days. Compare that to the 30+ days it can take to close when listing your house the traditional way, and the benefits are obvious!
Con – Below Market Offers
One of the biggest complaints buyers have about working with direct buyers in is that the offers are usually below market, but this is for a good reason! The buyer is taking on a huge risk by purchasing your house as-is, for your home may be more damaged than you realize! Plus, you won’t spend any money on commissions or holding costs.
Pro – Purchasing Homes As-Is
Direct buyers will usually purchase homes as-is. As a seller, this means you do not have to worry about repairs before closing or any other additional expenses you were not planning on. There are some companies that do not require inspections which makes it a truly as-is transaction.
Pro – Lower Risk Transactions
Selling to a professional home buyer is extremely straight forward. They will layout every step of the process and usually have shortened, very clear contracts that are simple as-is purchase agreements. You will also have lessened exposure to legal risks. You won’t have to worry about the buyer finding something you didn’t know you didn’t disclose or something they don’t like about the home or the neighborhood. Under most traditional real estate contracts, there is a potential for the buyer to sue you if they feel they didn’t get all of the information, or if they feel the facts were misconstrued. Direct buyers already know the state of the property, and they are willing to take on that risk.
Pro – No Showings
When you decide to use a professional home buyer, you will not have to worry about going through a roller coaster of emotions. There are no frustrating, middle-of-dinner phone calls asking if you are available to show your home. You don’t have to worry about leaving your home 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 a buyer’s agent or their clients or dealing with them asking you questions that you really shouldn’t answer anyway. You also don’t have to worry about buyers arguing with you over which furniture you are taking and what you are leaving.
Pro – Move Out Time
Direct buyers are in it for the investment. They are not expecting to move into the home on the day of closing. Most home buyers will allow a move-out timeframe after closing to allow you to relocate at your own pace. This is extremely helpful, especially with such quick closing timeframes.