Has your home been on the market for months, if not years? Are you currently thinking ‘I wish someone would buy my house.
It is likely that if I asked you how you would go about selling your own home, you would immediately tell me that a real estate agent was the only way. But for many home owners out their, the tide is starting to change, with a larger proportion of us now choosing to sell to a private house buyer.
But how do you know whether the services of a private house buyer are right for you? It all depends upon the amount of time you have in which the sale needs to complete.
Consider a real estate agent. Generally the process follows something like this. There is an initial consultation over the phone, they will then visit your home to take photographs, and generally assess the property and its value. The following week you home will be advertised in the local press, and within the real estate agents office, and maybe their website should there be one. Some time later, you may get some interest, and a potential buyer may come to visit your property. Needless to say by this time you will be starting to get fed-up, or stressing out at the fact that your home must continually remain in tip top condition. Not a plate, a cup, or toy, out of place. The trouble with this whole scenario is that you will never know whether your potential buyer is serious, or whether he has simply come to view your property out of curiosity, or to kill a few hours etc.
So what happens now your fifteen viewings are out of the way, and you have now found your buyer? All cut and dried? Certainly not. Your buyer will need to make arrangements for his mortgage, and deal with selling his own house. This can delay the process for up to a further two months. All this time the buyer is still under no obligation to go through with the deal, leaving you with the stress of still paying your mortgage, still uncertain whether you have a sale or not. And herein lies another problem. Buyers are notorious for pulling out at the last minute, changing their minds at the eleventh, most inconvenient, hour. It may not totally be their fault. They may be part of a chain that has fallen through. According to some recent statistics, one in three property transactions fall through.
If you are still thinking you want someone to buy my house, but don’t feel you can face the prospect of selling through a real estate agent, maybe you don’t want to pay their fees or commissions, then there is an alternative. You can sell your home yourself and get a quick house sale.
If you seek out the services of a specialist fast house buying company, they can buy your house in as little as 3 weeks, after making an offer on your property, often, within hours. They remove the stress from the sale by providing a sale that is guaranteed, and remove any worries about buyers backing out, or chain breaks. Legal fees will be paid, and there are no fees or commissions for the service. Another advantage is that you will only have to endure one viewing.
In return for these ‘perks’ a fast house buyer will offer around 70% to 75% of your homes true market value. You may also wish to sell and rent back you r property. That is, you sell your home but remain in it as a tenant, paying a market value rent. This is an ideal solution if you want to access the equity in your home, yet are settled where you live, or you have children settled in schools. It also saves the cost and worry of moving home.
In short, if you have time on your hands, and having your house on the market for potentially years is not going to be a problem to you, then seek out the services of a reliable real estate agent. However, if you are thinking ‘I need someone to buy my house now’, have equity in the property, and can afford to take a lower offer, then the services of a fast house buyer will offer a quick, discrete, and stress free way to sell your home. It may even save you both in time and money in the long run.
Corine Smith is a property expert and member of Buy My House. She has worked for many years for a national house builder dealing with both property investors and individual house buyers and sellers.