The decision to sell your home is a big one. Now that you’re ready to sell, you must consider the method you select to sell your home. While most homeowners first thought is to call a licensed real estate agent, why not consider the alternative of selling to a professional investor, like those at Mike Buys Houses.
Real estate all comes down to the numbers, so it is helpful to understand the differences in the costs between selling your Philadelphia house with an agent versus to an investor.
Marketing expenses for selling your Philadelphia house with an agent are part of the listing contract. They outline all of the steps that the agent will take towards selling the home, which can vary significantly by property.
Listing costs will include anything you must do to prepare to sell your Philadelphia house with an agent. These listing costs could consist of simple cleaning so that it is in ready condition for showings, to significant updates to the home’s interior, appliances, or more. Often, an agent will recommend sellers invest in renovations modernizing the features of a home to meet the demands of technology. Other amenities they may suggest space for two home offices or even the addition of a study area for school-aged children.
Repairs for any issues with the house will come out of pocket before closing. If the inspection revealed problems with your home that you were previously unaware of, you would also have to pay to complete these repairs. Otherwise, the lender will not approve the loan in many cases. Alternatively, you can expect the buyers to respond with their estimated costs for these repairs deducted from the offer. Avoiding this surprise can be achieved by hiring an inspector.
Staging expenses cover the cost to depersonalize the space, which enhances selling your Philadelphia house with an agent. Buyers who tour the home can easily imagine themselves occupying a home free of personal items or showing a distinct personal taste in decor. You may also encounter storage costs to clear your home of excess belongings.
Advertising expenses should be discussed and agreed to before signing the contract when selling your Philadelphia house with an agent. These costs include professional photography for the high-quality images buyers have come to expect as they search listings online and professional drone pilots to provide 360-degree virtual tours.
Commissions are paid for professional services provided, including marketing, paperwork, arranging for inspections, appraisals, and doing all of the footwork to bring a buyer to the door and finally the closing table when selling your Philadelphia house with an agent. You can expect to pay a total of around 6 percent of the sales price in commission.
Holding costs for the duration you have listed your Philadelphia house with an agent can quickly add up, especially if you have had to relocate. Suppose your reasons for selling are financial. In that case, the longer that the listing lingers on the market, the more monthly payments for the mortgage, insurance, and taxes, and all of the utilities you will continue to carry. The strain of this situation can cause restless nights and extreme stress for your entire family.
An investor has none of these expenses! And because investors pay cash and buy your house as-is in most cases, you can close fast, sometimes in a matter of days!
With little closing time to worry about, it is easy to see how selling your Philadelphia house to an investor like the professionals at Mike Buys Houses saves you time and money! Ready to sell your Philadelphia house? Call Mike Buys Houses at 267-984-4765 or send us a message today!