According to the latest report from the Houston Association of Realtors, it takes an average of 41 days for homes in this city to sell. While that’s an all-time high for Texas real estate, it might not suit you to wait around that long.
If you’re trying to sell a home in poor condition, it will take a lot longer than that. It’s difficult for buyers to find lenders who’ll pay for homes in a state of disrepair and let’s face it, your run-down home doesn’t hold much appeal for them anyway.
Unless you can afford to pay for expensive repairs and accommodate the delays involved with a refurb, you need to consider selling your house in Houston another way.
Keep reading to find out why selling your house as-is is the better alternative for home sellers in your position.
Selling Your House As-Is Saves Time
Buying and selling houses in Texas is a complex process filled with the potential for delays.
First, you must find a reputable real estate agent, who’s willing to try and sell your home as-is. This can prove difficult if you’re the not-so-proud owner of a dilapidated house.
Then, you’ll need to take photographs portraying your home in the best light, so your realtor can market it to potential buyers. Again, this isn’t an easy task when your home’s in an advanced state of disrepair.
If you eventually find a buyer, you’ll need to negotiate with them over the price. They’re likely to argue with you over your already discounted price, and may even demand a home inspection and some repairs before they take ownership.
This inevitably sparks a drawn-out negotiating process between you and them, with your respective realtors acting as the middlemen.
Repairs take time and could involve major structural issues that render your home inhabitable for their duration, and take many weeks to complete.
When you accept the buyer’s offer, they’ll need to apply for a mortgage. This process depends on an abundance of factors that you can’t predict.
If the buyer can’t get the finance they require, you’ll need to start the entire process from scratch again. This kind of back and forth can go on for months, if not years.
Most As-Is Sales Are Cash Transactions
Due to the red tape associated with achieving a mortgage to pay for a run-down house, most people who consider these homes have the funds to pay cash for their purchase.
This saves you a lot of time waiting around for mortgage approvals and removes the uncertainty surrounding this process. Once they’ve made an offer, cash buyers rarely pull out of the deal.
When you accept a cash sale in Houston, Texas, you deal directly with the buyer. So there’s no time wasted on the back and forth between intermediaries.
If you sell your house for cash to a we buy houses company, there’s no negotiating at all. If you’re happy with the offer, you simply accept it and receive your cash much faster than expected.
You don’t have to sell your home to one of these companies when you accept a cash offer, but they’re a much quicker alternative to finding a private cash buyer.
Private individuals take their time searching for the best deals and working out the cost of repairs before they’ll make an offer. A professional home investor will offer you cash based on their own tried-and-tested formula.
There’s no doubt that you’ll receive a little less for your home when you go this route, but the time savings involved may ensure this is a good choice for you.
A Cash Home Sale in Houston Saves Money
Most realtors get a 5 to 6% commission on the sale of a home. That money comes out of the seller’s asking price.
Your alternative to working with a realtor is to sell your home yourself. This saves you a little money, but it takes a lot of time and effort and can work against you if you don’t have a realtor in your corner.
What’s more, there’s a good chance you don’t have the marketing clout to advertise your home effectively to as many buyers as possible.
There are several other ways you can save when you sell your home for cash as-is. Avoiding expensive repairs is an obvious one, but what about holding costs?
These fees include all the money it takes to keep a home running, like include property taxes and mortgage payments. Most homes sold as-is are far from energy-efficient. That means you’re likely paying exorbitant utility bills, too.
If you’re already behind on your bills, you need to get rid of your burdensome property as fast as possible. Selling it as-is is the quickest way to get out of this drain on your finances.
You Can Get Out of the Red
Late payments on your mortgage mean the bank will foreclose on your home. Once they do this, it’s all the more difficult to sell your home to cash buyers.
Overdue bills will affect your credit score for years to come. This makes it difficult to invest in a replacement home, or find somewhere to rent.
Accepting a cash sale for your home can ensure you have some money to resolve your financial woes before it’s too late.
Take Control of Your Home Sale Today
Selling your house as-is needn’t be a stressful time, and you shouldn’t need to worry about getting ripped off in the process, either. Millennial Home Solutions will offer you a fair price and speedy service to relieve the stress involved with selling a home in Texas.