Should you list with a real estate broker or sell to professional homebuyers? There are a lot of things to think about when placing your home for sale. How long will your home be on the market? What shape is my home in and how much will needed repairs cost? Will the buyer find something wrong with the house after closing and potentially sue? Can I afford the commission if I deal with a Realtor? Call us at (313)647-8806 to find out additional questions to ask yourself before deciding to sell. Let’s discuss some key details about dealing with professional homebuyers.
As-Is Purchases
Professional real estate investors in MI will usually purchase homes as-is. As a seller this means you do not have to worry about repairs before closing or any other additional expenses you were not planning on. There are some companies that do not require inspections which makes it a truly as-is transaction.
Easy Closings
Professional homebuyers in Detroit, MI typically close faster than traditional home buyers and usually pay fully in cash. Traditional home purchases usually require qualifications from banks, mortgage underwriting time, property inspection time and the buyer may not end up qualifying in the end. There are also normally no commissions paid to a buyer’s or seller’s agent which means thousands of dollars in savings. The usual commission is 3% per side, so if you sell your home for $200,000 you would have to pay $12,000 in commissions alone! Professional home buyers also may not charge transaction fees; if they do, they are extremely low in comparison to the commission or closing fees you would have to pay otherwise. They also provide mail-away closings which is a wonderful thing for out of state owners.
Extended Occupancy
Professional homebuyers are in it for the investment. They are not expecting to move into the home on the day of closing. Most home buyers will allow a move-out timeframe after closing to allow you to relocate at your own pace. This is extremely helpful, especially with such quick closing timeframes. Also, you may not even have to clean the home when you leave. You can simply pack your personal items and furniture you want to keep and leave the rest.
Stress Free Selling
When you decide to work with professional homebuyers in Detroit, MI, you will not have to worry about going through a roller coaster of emotions. There are no frustrating, middle-of-dinner phone calls asking if you are available to show your home. You don’t have to worry about leaving your home spotless every day before heading to work, just in case there is a showing while you’re gone. You don’t have to worry about possibly running into a buyer’s agent or their clients or dealing with them asking you questions that you really shouldn’t answer anyway. You also don’t have to worry about professional home buyers arguing with you over which furniture you are taking and what you are leaving.
Much Less Risk
Selling your house to professional cash buyers in Detroit is very straight forward. They will lay out every step of the process and usually have shortened, very clear contracts that are simple as-is purchase agreements. You will also have lessened exposure to legal risks. You won’t have to worry about the buyer finding something you didn’t know you didn’t disclose or something they don’t like about the home or the neighborhood. With most traditional real estate agreements there is a potential for the buyer to sue you if they feel they didn’t get all of the information or if they feel the facts were misconstrued.
