There’s a lot that you can talk about when it comes to comparing a conventional real estate agent sale process with a quick cash offer for a property.
We talked about some of this in the past, but let’s go over some of these aspects that determine what your property is worth when it’s time to sell…
These specific principles help to show why it can be a better plan to get a quick cash offer for a property than to go through the conventional real estate process.
Titling and Title Research
Suppose the agent has some whiz-bang title company that’s going to do a lot of specialized work on digging into whether the property has liens or not. You can add $1000 to your bill overnight, without anybody being the wiser. This is one thing to look out for in conventional real estate sales.
Property Inspection Costs
Property inspections have the ability to scuttle many a deal, and take time and effort. You want to know if anything major is wrong with the property, but in the conventional sale process, some inspections can tie up a sale in red tape and delay settlement.
Hard Money and Bridge Loans
In some conventional deals, the buyer doesn’t have the money up front, and so they have to go back to the well to get specialized boutique financing. This can take forever, as an experienced seller or buyer can tell you.
People also can have a hard time qualifying for the sale, or fail to qualify, in which case the deal is off.
Staging and Curb Appeal Effort
Sellers put all sorts of work into showing off a property in particular ways, in order to entice the average buyer in a conventional real estate deal. From landscaping to curtains, all of this is on your own dime, and may or may not pay off down the road.
Commissions and Fees
One of the biggest costs to look out for is the 6% commission in a conventional real estate deal.
6% doesn’t sound like a lot, right? But if it’s a $200,000 property, and 6% is $12,000, that’s significant.
That takes a bite out of what you take away from the sale process, and is something to consider prior to settlement.
Maybe the buyer can’t make it, and maybe the seller can’t make it. Maybe by the end of the process, they hate each other. You’re not immune from these kinds of problems with alternative deals, but they are much less likely to occur.
Money in Your Pocket
When you have a sudden inheritance situation, problem tenants who are trashing a property or disputes over how an LLC handles its real estate, getting a quick payment for your property is of great importance. Talk to Synergy Buys Houses in this local Jacksonville, FL market about getting a property sale done – without further ado!