In Washington, you will have multiple options for selling a home. However, it would help if you chose wisely, as these are life-changing decisions requiring careful consideration. Here, we will discuss two popular approaches: selling to cash buyers and using traditional real estate methods to sell the property. You must learn that both approaches have unique benefits and drawbacks, so choose the best-suited one.
Traditional Home Selling
The most traditional way of selling a home is to hire a real estate agent to assist you by listing the house on the market. Let’s examine the advantages and challenges of this method.
The advantages include:
- When you hire a real estate agent, you have the opportunity to use professional marketing. The agents usually use MLS, professional photography, and staging methods to attract buyers.
- If there is higher competition among the buyers, selling the house for market value becomes more accessible as the offers drive up.
- The seller and buyer can often get involved in complex arguments and negotiations, which agents can only resolve. They have the expertise to handle complex negotiations, saving you money in the long term.
The disadvantages include:
- The process can be lengthy if you are trying to sell the house through traditional home selling. After listing a property, it can take months to find a suitable buyer, leading to delays in the inspection process, appraisals, and getting approval for a mortgage.
- When you hire an agent, you have to pay 5-6% of the sale price as part of the commission fees. Along with this, you also have to pay additional closing costs.
- You have to invest a reasonable amount in the prep work, which includes repairs, staging, and cleaning. Altogether, creating a welcoming environment helps attract serious buyers.
Selling to Cash Purchaser
If you are looking for an alternative means to eliminate the needs and cons of the traditional option, then choose cash buyers. This is a quick, streamlined process with a more flexible approach. So, if you, as a seller, are looking for quick, hassle-free transactions, then you can surely rely on cash buyers.
The advantages include:
- With cash buyers, you can close the deal as soon as possible, and it takes 7 to 30 days to reach the closing date.
- In the case of a cash buyer’s purchase, you do not need to make costly repairs or staging, as you sell the home in its current condition.
- You do not have to pay the agent commissions and avoid the closing costs. Thus, you get to keep more of the sale price, which is your added profit.
- You have to go through fewer complications, as there is no need for mortgage approvals, appraisals, or contingencies. Thus, the transactions are pretty simple and less risky. Contact experts from WeBuyHouseAsIs to know more about this process.
The disadvantages include:
- When you choose cash buyers, you get an offer below market value as they have to bear added repairs.
- You must conduct a thorough search to find reputable cash buyers; otherwise, you might fall prey to scammers.
Conclusion
Another traditional option available to sellers who want a more hands-on approach is “For Sale By Owner” (FSBO). Here, you don’t have to pay the commission to the agents, but you might get confused while juggling marketing, negotiations, and legal paperwork.
Now that you are aware of the two methods and their pros and cons, it will be easier for you to choose between companies offering cash For Homes Pierce County and traditional methods.
