If you’ve never sold a house before, the process can seem mystifying; even harder than buying your house to begin with! Selling a house can be very hard or very simple, depending on the route you take. We’re going to look at the “traditional route” as well as the alternative — selling through a cash home buyer.
Selling a House – The Traditional Route
You remember buying a house. You found a house you wanted, made an offer, closed your mortgage… but you also probably remember how long the process took. It’s even longer from the seller’s side because the seller has to prepare in advance.
- Find a real estate agent. It’s hard to sell a house on the market without an agent, so that’s usually your first step.
- Complete repairs and renovations. Most mortgage companies won’t lend money for a home that’s in need of repair. Renovations can be hundreds, thousands, or even tens of thousands of dollars.
- Put your house on the market. Now, you’ll figure out about how much you want from your house and you’ll put it on the market. You’ll do this by going through comparable properties, potentially getting an early appraisal, and otherwise “guessing” at what your house is now worth.
- Conduct open houses. People will be able to come into your house and look at everything — and you’ll have to make sure everything is up to inspection. While you’re doing open houses, you may need to remove everything from your house and put it in storage.
- Wait for an offer. After the offer comes negotiations, which can be aggressive. During the negotiations process, you might find yourself paying for the closing costs of the buyer, or paying for renovations such as new carpeting.
- Get an inspection and an appraisal. Again, most mortgage companies want a full inspection and an appraisal before they’re willing to make a purchase. If either the inspection or appraisal falls through, you’re going to be back to square one trying to complete renovations and repairs and get offers.
- Complete more repairs. Very few inspections come back without some number of requested repairs. Inspectors are paid to find issues with your house.
- Close your sale. And, at this time, the sale can still fall through if the mortgage servicer pulls out. While you’ll be able to get “earnest money” (a small fee) from the potential buyer, you’ll have to start the sales process again.
The process of selling a house the traditional route can take weeks or months, depending on how well-priced your house is and how fast the market is turning over. And that’s not to say that it’s always bad to go the traditional route of selling a house. If you’re in a hot market, you could make a lot of money. But you’ll spend a lot of money (and time) as well.
Selling a House – With a Cash Home Buyer
What if you don’t want to have to go through all that? Luckily, you don’t have to. With our cash home buying company in Colorado Springs, you can sell your house without the fuss of going the traditional route.
Consider that you could just get an offer from a cash home buying company without doing any repairs or renovations. Cash home buyers don’t rely on mortgage servicers, so they can accept any property they want. They are able to close within days rather than weeks because they just transfer over the money. You spend a lot less; not only do you not need repairs or renovations, but you also don’t need to work with an agent. You can sell a house directly to a cash home buyer this week. Contact We Buy Houses Colorado Springs to find out more information.