Selling to Us vs Listing on the MLS
The traditional way to sell your house is with a realtor, so you might wonder how selling to us compares to listing with us. We've prepared a chart to show you the differences. As you'll see, it's a matter of trade-offs based upon your situation.
| Listing with Us (Realtor Sale) | Selling to Us | |
|---|---|---|
| Commissions / Fees | Usually 6% of sales price paid by you. | You pay no fees. |
| Who pays closing costs? | Usually 2% of sales price paid by you. | You pay no closing costs. We pay all closing costs. |
| Chances my sale will fall through? | 15% of listed sales fall through. | No chance. You can sell as-is and we do not use bank financing. |
| Is an appraisal needed? | Yes, buyers normally use bank financing and banks require appraisals. | No! Once again, we do not use bank financing. |
| Average days until sold? | +/- 90 days, but it really depends on the market, the neighborhood, and your house's condition. | 7-10 days since me mostly make cash offers. |
| How many showings? | It depends, but probably quite a few. | Just one when we make our appointment with you. |
| When is my closing? | 30-60 +/- days after accepting the buyers' offer. | Within 7-10 days! |
| Who pays for repairs? | You will usually negotiate with your buyers. | None. We pay for all repairs. |
When you list on the MLS with us, you usually have the benefit of time and patience for the inconvenience and hold out for a higher price.
When you sell to us, the timeframe will be shorter, but the price may be somewhat discounted to allow for the risks we take, the cash we have to procure from our network of financial friends, and for a fair profit.
When you contact us, we'll work together to see if working with us is a good fit for the real estate problem you are trying to solve. Until then, here are a few things to consider:
Do you need to close quickly?
You do if you are struggling to pay utilities, tax and insurance, and your mortgage payment—we call those holding costs. If every month will be difficult or if you feel like you won't make it, you cannot afford to wait many months on a traditional realtor sale.
Does your house need repairs?
To get a high price for your house—a retail price—your house needs to be repaired and cleaned to the standards of other for sale or sold houses in your neighborhood.
Repairs take both time and money. It can also be a challenge to manage the contractors who do the work.
Once again, money problems could dictate your decision here. Selling to us avoids the time, money, and repair management headache because we do all the repairs after buying your property.
Can you afford real estate agent commissions and closing costs?
Once again, it boils down to money. Sellers will usually pay real estate agent commissions and a portion of the closing costs. This whittles down the amount of cash you eventually receive for the sale of your house.
What if your house takes a while to sell? Consider the months of utilities, taxes- and insurance, and mortgage payments only to get to the end and have to pay the commission and closing costs as well. Would it have been better to close quickly after all?
Let's talk.
When you add up the time you could save by working with us, the no-hassle experience and the money you could save on commissions, fees, and holding costs, selling to us could be your best option. We should have a conversation to discuss further. There's no obligation if we're not a good fit and maybe we can put you in the hands of someone who can help you.
If you are ready, go here to get started.