Are you looking to sell your home quickly in Miami and get a cash offer? Selling your home in the best of circumstances is difficult and stressful, but even more so if you have a looming deadline. However, before you panic, take a deep breath and remember that there are always options available.
Let’s analyze three of them, along with some pros and cons.
1. Sell Your Home through A Real Estate Agent
Selling your home the traditional way is a good option for you if you can wait more six months or longer, and you want to sell my house Fast Miami it for the highest possible listing price.
The process itself is pretty as normal: first, you find the right real estate agent to represent you, the agent starts to market your home and lists your property in an MLS, contacts potential buyers in his or her circle of influence.
Once your agent finds a serious buyer, your agent negotiates the final price and finally, the agent takes care of the final paperwork. Finally, you pay all relevant commissions.
Your agent will have to disclose to potential buyers that you will only accept cash offers, and your house will need to be priced to sell. Your agent should research potential buyers and investors who have recently purchased properties in cash, and make sure that any buyer looking to buy cash can prove they have the funds.
The most obvious downside is that agent fees can really cut into sales profits. The average agent charges 3% of your final purchase price, and if the buyer has an agent and you accept their offer, you will also have to pay the buyer’s agent. You will also be liable for any closing costs and potential repair costs.
2. Sell it Yourself (For Sale By Owner or FSBO)
If you don’t want to pay any agent’s fees, you can try selling the house yourself. Before you take this option, make sure you understand that you will face a learning curve throughout the whole process and that on average it takes longer to sell a home on your own than if you hire a real estate agent.
Your first goal will be to decide the value of your home. An option is to pay for a professional appraisal to get a fair market estimate of your property or hire a real estate agent for a flat fee assessment of your home.
If you’d rather do it yourself, find comparable properties online and use them as a gauge to determine your listing price. Once you have the listing price, you will need to take pictures (or hire a professional to do it for you), have “for sale” signs made, and upload your property listing on Zillow, Craigslist, social media, or in an MLS that allows you to list for a fee.
A lot of your time will be spent organizing showings, processing and countering offers, vetting potential buyers, negotiating with them, and filling out the necessary paperwork. You also need to decide whether you’re willing to pay a buyer agent’s fee, or if you’d only deal with prospects you attract yourself.
If you are able to spend the necessary time and research necessary and manage to find the cash buyer yourself, you will save a significant amount of money by not paying any real estate agents.
The biggest downsides are that you won’t have access to the vast resources that real estate professionals have and that you’ll be spending hundreds of hours of researching dealing with every aspect of the sale. You will also receive a ton of low ball offers from real estate agents and buyers looking to out-negotiate you.
3. Sell Your Home To A Real Estate Investor
If you need to sell your home as quickly as possible, your best option could be selling directly to a real estate investor.
Investors provide you cash offers so there is no waiting to sell or dealing with banks, appraisers, multiple buyers and all the traditional mess that comes with selling a house.
Instead, the process is quite simple.
First, you contact an investor, the investor and they will evaluate your property. Once they evaluate your property they will draft an offer and present it to you.
If you like the offer and accept it, they can quickly close the sale at a local title company.
The process could be as quick as 7 days, and you will be paid in cash. While most real estate investors won’t give you a full price offer for your home, when you consider the time, headaches and agent fees you’ll save, it might just be worth it or in many cases a better offer.
Some real estate investors such as us here at Property Nation, give you surprisingly fair offers, and you’re never obligated to accept the offer.
If you’re looking to learn more about the process, and you need to sell your home quickly and painlessly, contact us for a fair offer today. We buy houses in any condition, and there are no commissions or fees and no obligation whatsoever.