There are lots of questions that one should ask when selling a house. While for some, listing their house with a real estate agent is a good choice, for many, selling their house directly to a real estate investor is the better option. Being a house buyer in Washington, and focusing on Tacoma, Everett, Spokane and Seattle, I compiled a list of questions that will help you to decide, which option is best for you. Here are the questions that you should ask yourself, your real estate agent, or investor/house buyer prior to selling your house.
Do you have questions about selling your house? Please continue reading…
1. How much stress can you tolerate when selling a house?
– Have you ever experience handling a very stressful event in your life? When selling a house through an Agent, be prepared. Selling with an Agent requires lots of patience. You will have hoards of buyers walk through your house and inspect every room, often times invading your privacy. If you are lucky, a buyer will emerge and put in an offer; however, this is not the end of the ordeal. In most cases, this buyer will require bank financing and this means that your house will need to be appraised and the appraiser needs to value your house at the right price otherwise the bank may not finance the entire amount. Furthermore, the buyer has to qualify for the loan and pass all of the bank’s requirements (even if they are prequalified) the bank may turn down their application.
On the flipside, if you decide to sell your house directly to an investor like us, we will agree on the price and will only complete a walkthrough with one of our agents, sparring you the stress of the conventional sale process. The next time you will hear from us is to complete the sale of the house. Therefore, when selling your house you have to decide how much stress you are willing to tolerate. If you decide to go with the more stressful option this article will prepare you for the ordeal.
2. How soon do you need to sell the house?
Only experienced real estate investors will be able to work with your schedule and buy the house by a given date. If you are listing the house with a real estate agent, you can only hope that they will sell the house by a certain date. The agent doesn’t have control over the buyers and they can only hope that a qualified buyer will emerge, pass the bank qualification hurdles, acquire necessary financing, and purchase the house. Therefore, if you need to sell the house by a certain date it’s better to sell directly to a house buyer.
3. How experienced is the investor you are selling to?
– An inexperienced investor may offer too much for the house and later down the road try to back out of the agreement. In this case, your time will be wasted. That’s why it’s important to go with experienced house buyers like us who closed dozens of deals in the area and who know every step of the process, have the right contacts, and have the funds necessary to purchase the house.
4. How experienced is the real estate agent?
– If you choose to list your house, it is important to choose an experienced real estate agent who will reduce the stress of selling your house. New real estate agents are often inexperienced and don’t know how to properly price your house for sale. Hence, you may end up wasting months of your time waiting for the buyer to come along, only to discover that the house was mispriced and that’s why there is very little interest.
5.What steps should I take to prepare my home for sale?
– Preparing a home for sale can be advantageous. When selling a home you must be sure that your home presents the best way possible. Making sure that clutter is at a minimum, ensuring odors are non-existent, rooms are newly painted, carpets are clean – these are just a handful of things that should be done before listing your home for sale. However, if you don’t have the funds, time, or energy, to prepare the house for sale, selling directly to an investor may be a great option because investors buy houses in any condition.
6. How do I determine how much my home is worth?
– There are a number of ways to determine the value of a house. The most common ways are by looking at the assessor value that is mailed to you, by speaking to neighbors who recently sold or bought their home, by looking at websites like zillow.com or redfin.com.
7. Why isn’t anyone looking at my home?
– This question is complicated but in most cases, the reason is the price of the house is too high.
8. If I change my mind and don’t want to sell my house, do I still owe a commission to the agent?
– If you signed a purchase and sales agreement with a buyer represented by an agent the real estate agent is entitled to a commission even if you decide not to sell your house. You may even owe money to the buyer if you change your mind and back out of an agreement Bottomline, be sure you will sell your house before getting into any deal.
9. How long will it take to sell my home?
– The average time a Washington house sits on the market varies widely from days to 3-4 months. However, keep in mind that once a purchase and sales agreement is signed with a traditional buyer you still have to wait for at least 3-4 weeks for closing. In some cases, the closing falls apart because the buyer doesn’t qualify for the financing. or the house doesn’t appraise at the value the seller is requesting. Marketing your home plays a big role in how fast you can sell your house and if you want to sell your house fast, choose a direct buyer like us.
10. Should I price my home higher than the assessed value?
– Some people answer this question, “yes” to give themselves room for negotiations, but this is a common mistake the sellers make. A well-priced home sells quickly. Leaving room for negotiations will make your home stay in “for sale” status for a longer period of time.
11. Should I let the buyers move in before closing?
– NO. You are still the homeowner until the closing and a lot of things may happen before making it a done deal. You wouldn’t want to go into a complicated process if the sale falls through.
Selling a home can sometimes be a bit frustrating and it is something that people don’t do on the daily basis that is why preparing is the key to having a great selling experience. The listed questions can help you determine how to sell your house either directly to a house buyer or by listing it with an agent.