Top Tips for Selling Your House Without a Realtor

When you are thinking of selling your house, multiple things go through your mind. You need to determine a good time to list and decide what your next objective would be. Then, accordingly, you set your financial goals. If you are a do-it-yourself artist, then you might think about how to sell your house without a realtor.

For most people, saving on real estate agent commission fees is the biggest challenge. But before making any decision, you should understand the process and the amount of work that is involved in it. So, kindly go through this guide, where we will tell you how to Sell your house without a realtor.

Option 1: By selling your house to a cash buyer, because that's the safest option:

If you need a fast sale of your home, then think about selling your house for cash. So, who are cash buyers? Cash buyers are individuals or entities that purchase your house outright without the need for lender financing. They offer sellers convenience and a quick sale. But that involves a higher transaction amount and lower net profit. 

Advantages:

    1. You can skip home inspection delays:

 Inspection issues are a common reason for closing delays. They reveal hidden problems that homeowners are not aware of. The majority of inspections raise one issue, ranging from minor repairs to major structural concerns.

So, if you want to sell your home to a cash buyer, then you may not need to complete any repairs that are uncovered during the home inspection. Some cash buyers could waive an entire home inspection.

    2. You do not have to deal with the stress of an open house:

Put away the cleaning supplies and do not think about tidying up the space. With a cash sale, nobody is coming to your place to see your home. Imagine how much time you will save out of your busy week if you do not have to make your kids disappear for an hour.

Cons:

      1. You will get a sale price that is often lower than you thought:

 Yes, you heard that right! Many cash buyers use a seller's desire for convenience to secure a lower price. Because they are investors who do not want to pay market prices. They depend on only one rule of thumb, "How low will you go," when making an offer. They plan to spend money on the house after buying it, fixing it up for a quick flip, and then maximizing the profit. Plus, they also know that some sellers are willing to sacrifice their money in exchange for convenience and speed.

      2. You lose the opportunity to bid:

In a hot seller's market, buyers want to purchase a home, driving up its sale price in a bid. When this happens, a seller can get a final sale price above the original listing price. Even in a balanced or cool housing market, an experienced agent knows how to make your home attractive with the help of multiple buyers and to negotiate the highest price for it.

Also, when selling your home to a cash buyer, you miss an opportunity to indulge in a bidding war. Since cash buyers purchase homes in bulk, they would purchase your home only if they find it feasible.

PS: If you need a fast sale, get in touch with us, because we are We Buy Houses Kansas City​.

2. Selling with a real estate attorney:

Selling your house without a real agent is essential if you are fortunate enough to have a buyer in line. If so, you ought to get the assistance of a real estate lawyer to complete the transaction.

Attorneys specialize in real estate transactions that will help you in drafting and interpreting the endless stack of closing paperwork. This includes contracts and legal documents. It depends on your state, you might need to have a real estate attorney when you are dealing with closing, regardless of whether you are selling your home with a real estate agent or not.

Pros:

1. You can get a good contract:

Your attorneys will help you draw up good contracts that include headlines for appraisals and inspections, and the sale price details.

2. You have a legal advisor who resolves your disputes:

This is crucial. Common disputes include failure to disclose the property defects or inability to agree on a date. Attorneys will thoroughly review the purchase agreement of your home.

Cons:

  1. You end up settling for a less-than-ideal deal on selling your home:

An attorney will help you close your home sale without getting you in trouble. But they won't help you sell your home for a good price. If you are determined to work with one buyer, then an attorney cannot negotiate the price.

2. Selling your home on the open market with the help of Sale by Owner (FSBO):

Sellers are drawn to FSBO because they want to save on agent commission costs. But with added control comes additional responsibility. You have to advertise and market the listing and then price it. Then you can host walk-through and open houses, too. 

So, next time when you think about how to sell your house without a realtor, count on us because we Sell your house fast in Kansas City.