No Money Lost Selling As Is
The biggest question homeowners ask themselves before selling is how much do you lose selling a house as is? The truth beyond that question is that you don’t lose any money. Most people are under the assumption that by selling a home off the market that you need an agent. We will explain the process of selling a house as is. Also why this is the best method of selling your home.
Benefits of selling a house as is without making repairs.
Real estate has been heating up in many different markets recently. Especially in Philadelphia, we have noticed a spike in real estate investors flooding each market. A real estate investor is usually someone who buys a home in distressed condition. Also, it does work to the house to get it in top shape. Then they will rent it out each month or re-sell the property.
When selling a home as is, you usually sell it to an investor or someone interested in fixing the house. If you have a home needing work; you will likely sell a house as-is Taking this route, you do not have to make any repairs. Selling a home that needs renovations, essentially you knock money off your asking price to accommodate the person buying the home. That way they can do the work to the house instead of you going through the hassle.
Fees associated with selling your home using an agent
When you sell your home using a real estate agent, you end up costing yourself more money. The reason is that a seller gets hit with plenty of fees to complete a sale on the market.
- Real estate agent commission of 6%
- Closing cost and any transfer tax
- Home inspections
- Any repairs requested from the new buyer
When you use a real estate agent, they must get paid for their time, which is entirely understandable. The average real estate agent makes 3% as a buyer’s agent and 3% as the seller’s agent in each transaction. You can negotiate the fee to 2.5%, but you will likely be forced to pay the 3% on both sides.
Closing costs and transfer tax can add up when selling a home of decent value. When selling a home in Philadelphia, you are responsible for paying a 2% city and state transfer tax. You may pay a hefty closing cost in notary fees, prorated property tax, wire transfer, and title company fees. All of those fees begin to add up. Costing you much of your profit. If you have a mortgage on the home, you may walk with nearly nothing. That is why paying attention and knowing the fees associated with selling your home is essential.
Home inspections are costly.
When selling your home on the market using a real estate agent. You most likely will have to have a home inspection done. However, the actual cost of a home inspection will only run you between $300 and $400 in Pennsylvania. That seems like little to pay, but what digs into your profit is the number of repairs that come back.
Repairs are a must
After the home inspector has presented the buyer of your home with a list of things that need to be repaired. You may notice your profit dip even further. They will either request you make the major repairs or ask to take some money off the final proceeds.
The best method of selling your home
Back to the central question of how much do you lose selling a house as is. After finding out how much it costs to sell your home using a real estate agent, do you lose money? The truth is when you sell your home using a cash home buyer; you will realize how simple it is.
Our process is simple and cost-efficient for homeowners needing to sell quickly. We will contact you immediately as soon as you fill out our form. After we assess how much work needs to be done, we can make an offer. We pull homes within a quarter of a mile from your home—that have sold within 180 days. That way, our offer is highly accurate to the actual cash value of your home.
The best part about our offer is that we do not ask any homeowner to make any repairs. Even if you are in the process of doing work to the home. No matter what the condition of your home is, we will buy it from you.
You also do not have to pay closing costs. We cover state and local transfer tax. As well as the associated fees to clear the title. You are only responsible for paying any mortgage or outstanding bills. We handle the rest and make the transaction as smooth as possible.