You have about 6  Options when Selling your House – Call 301-660-3289

Selling your House

As the Seller of a house, you have about 6 Options from which to choose from depending on your situation and every situation is different:

1. Sell it For Sale by Owner (FSBO) -historically 85% of all FSBO’s do not sell. The seller ends up taking the house off of the market or listing it with a Realtor. As the seller, you have to decide how long you want to continue to try this method.

2. List with a Realtor– which is conventional way of selling your house.  The cost of selling a home with a agent will cost you between 5-6 points of the sales price, then on top of that you have closing costs, maybe some repair costs unless you want to sell it as is and then option 3 would be your best bet because buy with an FHA loan could buy the house because of the condition. Let’s say it’s in good shape then you have home inspections then the buyer might want concessions which are money to make repairs. Normally it take a home to sell and settle with an agent on average 45-60 days.

3. Sell it as is to a Cash Buyer -sometimes you need cash NOW & can’t wait around to get top dollar or make repairs or afford to pay all the fees associated with a real estate agent. You can sell your house quickly if you take this option sometimes in less then 7-15 days.

4. Give it back to the bank as a Foreclosure or Short Sale– an option if you are upside down on your mortgage or behind on your payments.  This option has negative effects on your credit. If you think a car repossession was bad a foreclosure is 3 times worst.

5. Sell it “Subject to” the existing loan to an investor – if the numbers make sense and depends what type of interest rate and mortgage you have, you can have someone take over your payments on your loan. It’s a FAST, NO cost method to sell and you’re done with the property.  There must be a trust factor is this option and you have to deal with a company with a good reputation.

6. Sell it on a Lease Option- you lease your house to a lease option buyer and give them an option to buy at a predetermined price within a specified time period. Usually, you get full Market Price for the property and you don’t pay any realtor commissions or selling fees. This option is good when your home is in great condition but you are having a hard time selling it. Normally you try selling it yourself and with a real estate agent.

 

So those are all of your options when Selling your House – which one makes the most sense to you?

If you’d like to discuss it with us in detail, we’d be happy to do so.

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The 6 Options when Selling your House

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