We buy houses in Allendale Michigan. Do you find yourself saying, “How should I sell my house in Allendale MI?” We would love to discuss how we can get you out of your situation. We are professional homebuyer in Allendale MI and we can help!
How Should I Sell My Home In Allendale MI?
Contrary to what most people think, you have a few options when selling your home. Some people will hire a real estate agent, some will try to sell on their own. Others may look to sell quickly for cash. At the end of the day, there is no right or wrong way to sell your house in Allendale MI. It really just depends on your situation.
Few options when selling your home in Allendale MI:
1. Hire a professional real estate agent in MI
Many people think this is the best way to get full market value without putting any effort into marketing your home. People are busy, and the idea of having someone else do the work is appealing. Using an agent will also give you the peace of mind the entire process goes smoothly. While in many cases this may be true, there are some things one must consider when hiring an agent.
If you hire an agent, you will be required to pay commission to the broker when the house sells. Commissions are negotiable, but each market has a standard. A typical commission is 6-7% of the selling price. Your home must be clean, presentable and ready for potential buyers to take tours. It’s also best you are not home during these tours, so you will need to coordinate with your agent and agree on the best time for them to show your house.
Typically homes listed for sale on the retail market need to be in “livable” condition. This means all of the major aspects of the home must be functional. This would include things like foundation, roof, HVAC systems, bathrooms, kitchens, decks, electric and plumbing must be damage free and functional. Most people who buy homes use conventional or FHA financing and banks will not give out loans for properties that are not up to their “livable” standard. Even if your home is in great condition, clean and presentable, there is no guarantee it will sell quickly. Many things influence how fast a home sells. Market conditions, starting price, time of year, neighborhood conditions and how good your agent is at marketing the property.
2. Selling your home in Allendale on your own
Selling on your own is a good way to maximize your return by saving money on commissions. If you have time to market your home, meet with potential buyers and have some familiarity with purchase agreements, this may be an option for you. However, selling on your own can be more work than you think. Time spent marketing and being available to show your home, often times at a moments notice, can be an inconvenience for people. Some buyer’s agents will be turned off by the idea that you (the seller) are not willing to pay commission. If you do choose this option, it couldn’t hurt to offer a commission to the buyer’s agent (2-3%) for bringing a buyer forward. Lastly, if you try selling on your own, your home will not be listed on the MLS. The MLS (Multiple Listing Service) is an online marketing platform that all brokers and agents have access to. This is probably the single most effective way to market a property since most buyers are working with a buyer’s agent. When your listing makes it to the MLS it also gets posted on Zillow, Redfin, Trulia, Realestate.com and others sites.
Some brokerage firms are offering what is called a Flat-Fee MLS option. Prices range from $250 – $500 for a flat fee listing. The benefit of using this service is you get your home listed on the MLS for a much lower price than paying full agent commission. You will still need to show your house and act as your own agent. But because a broker is involved, you would get some assistance with the purchase agreement and transaction. Again, you would be wise to offer a smaller commission 2-3% to the buyer’s agent.
3. Sell to a cash buyer or real estate investor.
Investors look to purchase properties quickly, for cash and sometimes will even pay closing costs. The benefit of selling to an investor is your home sells fast, actually very fast because there are no banks involved. Most real estate transactions require financing and underwriting will often times add another 30-45 days to the selling process. What’s worse, if the financing falls through, there is no deal. Most purchase agreements have contingencies. The most common contingencies relate to inspections and financing. In other words, the buyer can back out if they are not satisfied with the inspection results or if their attempt to get financing falls through. With an investor or cash buyer, there is no bank involved and they can usually close a deal in just a few weeks.
Another benefit of using a cash buyer is your house does not have to be in livable condition. Because the buyer is paying cash, there is no bank to hold your home to a standard. If your home needs work and you don’t want to take the time to fix or pay for this work, this may be a good option for you.
And finally, when selling to a cash buyer you won’t need to pay real estate commissions since there was no agent involved. If your home needs work, you may not get full market value, but the savings from not hiring an agent could offset the discount.
In some cases, using a real estate agent is the best way to get full market value for your home. But keep in mind it may take some time to clean, make minor repairs and make the property presentable. You will also lose around 6-7% of those returns paying for the services of broker and you can estimate another 2-3% in closing costs. And selling with a broker does not always mean selling fast. Sometimes it could take several weeks, even months to sell.
At the end of the day, only you can decide what’s best for you. Everyone’s situation is unique and there are pros and cons that must be weighed. If selling to a cash buyer or investor seems like the best choice for you, we are happy to help!
We Offer Cash For Houses In Allendale MI!
We are legitimate Allendale home buyer and are you looking on how to sell your house in MI area? Look no further than a house buying company. Although few sellers are even aware that this option exists, they’re pleasantly surprised at how quick and easy it is to sell their house when they learn about it.