Are you tired of owning a property that you don’t want or can’t afford? Putting it on the MLS can be expensive and take up more time than you care to spend. In our latest post, we can help you learn how to sell a house in Detroit without sinking any money into it in less time than you may think! When most people go to sell a house, the first thing they do is search the internet or ask a friend to recommend a good agent. While some agents are great and worth their weight in gold, this isn’t always the best way for a homeowner to sell. For some homeowners who need to sell a house in Detroit, selling “as-is” or a direct sale to a local homebuyer can be the best way to go.
Before you decide how to sell, get the facts and determine the selling method that will make the most sense for you. After factoring in time, money, and energy, your ideal selling method may be different than you had thought. First, let’s take a look at what it would cost to sell a house in Detroit with a traditional listing.
What Will Listing My Detroit House Cost?
Listing a house in Detroit can come with a lot of costs that people aren’t always aware of. A few of these costs include…
- Costs to make repairs both before and after the inspection process
- Expenses to clean and stage the home for property showings and open houses
- Marketing expenses not included with your listing (virtual tours, professional photography, etc.)
- Holding while the house is on the market and through the escrow process
- Closing costs which can amount to 1-3% of your final sale price
- Agent commissions which are typically around 6% of your final sale price
According to NerdWallet, you should plan on spending at least 10% of the final sale price on the costs of listing your home. So if your house ends up selling for $250,000, that is $25,000 out the door. That said, your costs can be higher or lower depending on the property and situation. It is essential for a home seller to understand these costs, so they know exactly what to expect when they sell a house in Detroit.
How To Sell A House In Detroit Without Spending Money
There are a couple of ways to sell your house in Detroit without spending any money. You can either list your house as-is on the MLS or work with a direct homebuyer to purchase your property outright without the help of an agent. For some homeowners in Detroit, one of these alternative options can prove to be a better way to sell your house.
Listing Your Detroit House “As-Is”
Some owners choose to list their houses “as-is”, which will make things less expensive for the sellers. While listing your house as-is in Detroit will save you money on cleaning, repairs and upgrades, you will still have to factor in commissions, holding expenses and closing costs. All of these bills can add up to thousands of dollars, and that is without any promise of a return. Also, your house won’t get the same level of attention and appeal to as many buyers when listing your house “as-is” in Detroit. Your property will need to photograph well and not come with a long list of needed repairs. It’s crucial to be aware of these factors when you are looking to sell a house in Detroit.
A Direct Sale To Detroit Fair Offer
Selling your house directly to Detroit Fair Offer will help you to avoid all of the listing costs, including repairs, marketing, holding costs, commissions, closing costs and more. You will not have to worry about spending any money at any time during the sale. You will be able to get an offer without having to worry about any deductions or hidden fees. While our price isn’t full retail, the amount you can save may more than make up the difference and that’s not to mention all of the time you will save.
Why Sell “As-Is?“
So why would somebody want to sell “as-is” in the first place? Wouldn’t fixing up the property add value, thus creating higher returns? In a perfect world, yes. However, when listing your house in Detroit, you won’t have any guarantee that your repair costs will translate to a higher sales price. Fixing up your home can be a gamble. While it can add value in some cases, sinking money into a house you would rather sell can prove to be a poor use of your funds. By selling “as-is,” the buyer assumes the risk and you will be able to put your money into your new property, not the one you want to get rid of.
Are you ready to sell your house in Detroit? Before you hire an agent in Detroit, find out what we can do for you! You don’t have to list your house in order to sell it!