So, you’ve decided it’s time to sell your house. Should you hire a local real estate agent to sell your house in Dallas, Texas or should you go a different route? It’s no secret that listing your house for sale will usually get you the maximum value for your house. But, do you want to pay large commissions? How long are you willing to wait for the house to receive an offer? How long will it take to close? What sort of repairs will you have to make to get the house retail and show-ready? How does the house look when you leave for work every morning? Are you available to show your house within a 24-hour notice, or less?
Commissions and Fees
Real estate agents are paid based on a percentage of the sale price of your house. If you do not use an agent, there will be no commissions paid to a buyer’s and seller’s agent. That means thousands of dollars in savings! The usual commission is 3% per agent. So, if you sell your house for $400,000 then you would have to pay $24,000 in just realtor commissions along with the traditional seller’s closing fees, prorated property taxes, and other possible transaction fees that you’ll have to pay the title company at closing. Those other closing fees tend to be around 2% to 3% of the sale price of the house. That could end up being another $8,000 to $12,000 in ADDITIONAL fees ON TOP OF REALTOR COMMISSIONS! Selling your house can quickly get become expensive! However, real estate investment companies, like ours, typically do not charge commissions or transaction fees.
Waiting Time Frame
Real estate agents have access to the multiple listing service, or MLS for short, which allows your property to be found in other real estate agents’ searches when they are searching for properties that will fit their buyer’s criteria. This may sound great, but how long will it sit on the market? How fast will you receive offers? Real estate investors and other direct house buyers typically have a network of other house buyers, so if your property doesn’t fit their portfolio, then it may fit one of their colleagues’ portfolios. Either way, this means very limited waiting time for an offer. Also, when you sell your house in Dallas, Texas to professional house-buying companies they will typically close faster than traditional house buyers and usually will pay in full in cash. Traditional house purchasers usually require qualifications from banks, mortgage underwriting time, and property inspection, and the buyer may not end up fully qualifying for the loan in the end, causing the deal to fall apart last minute and forcing you to put your home back on the market to start the process all over again.
Inspections & Repairs
Professional house-buying companies in Texas will usually purchase houses as-is. As a seller, this means you do not have to worry about repairs before closing or any other additional expenses you were not planning on. There are some companies that do not require formal inspections which makes it a truly as-is transaction. The house-buying companies just come out to the house, walk the property and make you an as-is, cash offer on the spot. When you use a real estate agent, the buyer’s agent will almost always order a formal inspection of the property. If they find something wrong with the property structure, even the tiniest things, they may require you to fix it, costing you money out of pocket before the property closes.
Why Use A Professional House Buying Company?
If you decide to use a professional house-buying company like ours in Dallas, Texas you will not have to worry about going through a roller coaster of emotions. There are no frustrating, middle-of-dinner phone calls asking if you are available to show your house. You don’t have to worry about leaving your house spotless every day before heading to work, just in case there is a showing while you’re gone. You don’t have to worry about negotiating prices, terms, repairs, and closing date back in forth with a buyer. You also don’t have to worry about buyers not getting financing fully approved before closing, leaving you back to square one and having to put the property back on the market.
There are a lot of scenarios to consider when you are ready to sell your house. We can help you decide which avenue would be best for you. If you’d like to get in contact with us today to discuss what our offer would be for your house, please fill out our form below!