For many of you, this most likely will not be a surprise and have seen or heard about selling to real estate investors. If you have been through the involved process of listing a Richmond house on the MLS with a real estate agent, you know that, in some cases, it can be a hassle and can cost a fair amount. From dealing with showings to waiting and hoping for offers, the process can be time-consuming and stressful. Of course, in some situations, using an agent can be great! But this doesn’t apply to every house and not on all occasions. In this post, we discuss a few of the difficult parts of listing a house you need to be aware of and why you may want to consider selling your property to an investor instead. For some of you, this may be new, but property investors have been buying homes in your local market for many, many years. For other, you may have stumbled upon it by accident.
Hassles of Using a Traditional Listing to Sell Your House
1. Property Showings
Most likely, the biggest hassle and inconvenience of listing your house on the MLS in Richmond is dealing with Property Showings and people wandering through your home at all hours. If you’re still living in the house, you have to constantly keep it clean and well-maintained to prepare for the potential buyers to come in and look around. Many times, these showings can end up scheduled with little advance warning. This can be especially difficult if you have kids, particularly young kids, or pets. And if you’re not living in the house, you have to constantly coordinate with your real estate agent to make sure they can get in to show the house to potential buyers. This can be a major inconvenience, especially if you have a busy schedule, work, and/or travel a lot. Slowness in responding to buyers’ interest in touring your home, can lead to missed offers and a lengthy sales period, which can cost you money.
2. Waiting for Offers to Come In
Do you dread Waiting for Purchase Offers to Come in? The thing about listing your house in Richmond is that there are no guarantees that you will receive attractive and acceptable offers. You will need to be patient while you wait around for qualified offers to come in and make decisions about your home while comparing it to other homes. Depending on the interest rates and the market, it can take weeks or even months for an offer to come in. During this time, you still have to pay your mortgage, property taxes, and other expenses associated with owning a home. This can be a major financial burden, especially for homeowners who are trying to sell their houses quickly and move to another location locally or out of the area.
3. Costs of Hiring a Richmond Real Estate Agent
The Cost of Hiring a Real Estate Agent in Richmond, VA can be high.Typically, real estate agents will charge a commission fee of 5-6% of the sale price of the house. So, if you sell your house for $300,000, you’ll have to pay your real estate agent $15,000-$18,000 in commission fees. This can be a major hit to your bottom line and can significantly reduce the amount of money you make from the sale of your house. Depending on the agent, you may also be on the hook for marketing costs, listing fees, and more! On top of the real estate agent fees, you will also have closing costs. Most experienced real estate investors will pay seller closing costs which will save you even more money.
4. Repairs and Renovations
Before you can list your house on the MLS with a Richmond real estate agent, you typically have to make repairs, updates and renovations to make it marketable for retail sale. This can include things like painting, replacing flooring, updating appliances, replacing older roofs, updating heating and cooling systems. Depending on the condition of your house, these repairs and renovations can be expensive and time-consuming. And if you don’t make the necessary repairs and renovations, your house may not sell for a long time, or you may have to accept a lower offer.
So what’s the solution? Selling your property to an investor. Here are four reasons why:
1. No Property Showings
When you sell your property to an investor, you don’t have to deal with any property scheduling, showings, and non-shows! Investors typically buy houses as-is, which means you don’t have to worry about cleaning, repairing, or renovating your house. This can be a major time-saver, especially if you have a busy schedule or if your house needs a lot of work. You don’t even need to remove the existing trash and clutter! Again, experienced local investors will buy the house in “as-is” condition.
2. A Fast Closing
Investors such as RVA Home Buyers typically close on houses much more quickly than traditional buyers. This means you can sell your house and get your money much faster than listing it on the MLS. This can be especially beneficial if you’re in a hurry to sell your house. They will work with you to settle as your convenience, whether that is 7 to 10 days or a month or two when you need to figure out your next living arrangements.
3. No Costs, Commissions, or Hidden Fees
When you sell your property to an investor, you don’t have to pay any commission fees. This means you get to keep more of the money from the sale of your house. And because investors typically buy houses as-is, you don’t have to worry about making repairs or renovations, which can save you even more money. And most experience, local investors will pay your closing costs.
4. A Cash Offer
Investors are not reliant on mortgage banks and will make cash offers on houses. This means that you don’t have to worry about waiting for financing to go through the process and be approved. This can be a major relief, especially if you’re in a hurry to sell your house or if you’re worried about the buyer’s financing falling through. What’s particularly bad is that buyers financing usually falls through very close to or even on the day closing is scheduled.
Listing your house on the MLS with a Richmond real estate agent can be a great choice, but for some houses, it can become more of a hassle and can be costly. From dealing with showings to waiting for offers, the process can be time-consuming and stressful. Selling your property to an investor can be a much simpler and more convenient option. With no showings, quick closing, no commission fees, and cash offers selling your property to an investor can help you sell your house quickly and with minimal hassle. If you want to sell your house fast in Richmond, reach out to our team to find out what we can do for you, especially if you are thinking how do I Sell My House Fast in Richmond, VA. We are an experience local real estate real estate investment company that been working the Richmond, VA area for 25 years.
Give Us a Call Today at (804) 420-8515