Who needs a realtor to sell their house, anyway? Well, a lot of people do, but if you are someone with a do-it-yourself attitude, you may not want to work with a realtor.
Many people prefer not to use a real estate agent because of their commission fees. Did you know that the average real estate agent in Chicago makes about 6% in commission? Did you also know that the average house in Illinois sits on the market for about 125 days?
Before you dive into the world of selling your house without the help of a realtor, there are a few things you will want to keep in mind. This brief article will go over what you need to do to sell a home without a realtor and who you can reach out to for a faster way to sell your home.
How to Sell a Home Without a Realtor
Before you list your home for sale, you will need to determine how much you think the house is worth. You will need to conduct a competitive market analysis to determine the best price for your home.
When conducting your analysis, you need to look at the recent sales in your neighborhood. Not only will you need to see what homes have sold recently, but you need to make sure that you compare your home to the houses that are similar to yours. You can also compare with houses from other neighborhoods to get a feel for the current market in your area.
Evaluating the market trends is very helpful as well. You will need to see if sales in your local area are increasing or decreasing.
All of this information is readily available through public record databases. Sometimes homes that are for sale stay that way because they are valued too high so make sure that you look at homes that recently sold, not homes that are currently on sale. Be sure to continue checking the market for prices; sometimes prices can shift quickly and if you aren’t up to date, the process could end up taking even longer.
If you are unsure of the price of your home, you can reach out to a professional to appraise your property. The cost of an appraisal is between $300 to $600. The appraiser will make sure to do a thorough walk through of your house, investigate comparable homes, market trends, and recent sales to determine a realistic listing price for your house.
Take Photos
Once you know the best reasonable price to list your home, you will want to prepare your home. You should do a deep clean of the house and improve the interior and exterior of your house. You might want to repaint the walls; it’s a cheap way to make your house feel freshly renovated and taken care of. If you want your pictures to look as appealing as possible, you may want to invest in hiring a professional photographer. Professional photographs make a huge difference in a potential buyer’s first impression of your home; you should always consider this. If you don’t have the time or the resources to do any of that, we buy homes as is, even if they aren’t clean or need work.
List the Home
There are many different websites you can use to list your home. Most sites are free to list your house, but some charge a fee. Once you list your home, you may want to reach out to some friends and family to help spread the word. You can also invest in print ads or share your home sale information on social media. But if you sell your house for cash, you can skip that process entirely.
How Can I Sell a Home Fast?
If you notice that your home is not selling as fast as you would like, you do have the option to sell your house for cash. According to a study by ATTOM Data Solutions, all-cash home sales are on the rise.
About 34% of single-family homes on the market today are purchased without financing. In today’s competitive market, cash purchases are becoming more common for all types of properties. Cash purchases of property are much simpler and are less stressful. Who wouldn’t want an all-cash offer instead of having to wait for a seller financing to come through?
Where Can I Get a Cash Offer?
If you are selling a home in Chicago, there are many different ways for you to get a cash offer. There are many different home sale platforms where you can list your home to receive cash offers.
You can also reach out to house flippers, real estate investors, or private companies that have the means to provide you with an all-cash offer. Before you settle with any cash offer, you will want to make sure that they have the money to offer you such a large amount of money.
There are many investors who claim they have the money, but they don’t. Make sure that you review a company before you accept any offers. Companies like ASAP Cash Home Buyers have the financial means to provide all-cash offers on your home.
Process of Selling a Home for Cash
If you are in a hurry to sell your home, you will want to sell your house for cash. Once you have found the company you want to work with, you need to follow a few easy steps before you get your offer.
1. Request the Offer
The first step of selling your home for cash is the initial assessment. You will need first to submit your information to your cash home buyer so that they can reach out to you.
The company will reach out to you to learn more about your current situation. Is the home in probate?
Why do you want to sell your home? Those are a few of the questions they will ask you when you initially submit your information.
2. In-Depth Analysis
With all of your information on hand, the cash home buyer will do their own research on your property. They will look into any background information and other factors that affect the value of your home.
3. Review Your Cash Offer
Most buyers take about 24-48 hours to conduct their analysis of your home. Once they finish, they will reach out to you with their cash offer.
The cash offer will include a breakdown of their analysis and fees if they charge any fees. If your home has any issues or repairs, they will go over the best course of action to remedy that situation. If you are working with ASAP home buyers, you won’t have to worry about issues or repairs because we will make you an offer no matter what condition it’s in.
4. Make Your Decision
Most cash buyers give you about a week to make your decision, whereas companies like ASAP Cash Home Buyers give you as much time as you need. If you have questions about the process or the cash offer, they are there to answer any concerns you have.
The cash offer comes with no obligations. If you decide to walk away from the deal, you have every right to do so. There is no pressure to accept the offer.
5. Accept the Offer
If you decide to accept the offer, you will simply let the company know. They will sit down with you, go over the forms again, and have you sign all of the necessary documents.
With everything signed and sealed, you will then receive your cash payment. With ASAP Cash Home Buyers, there are no hidden costs or fees. The cash offer you see and agree upon is the money you will receive.
Benefits of Selling Your Home for Cash
Selling your house for cash has similar benefits to trading in your old vehicle to the dealership when you buy a new car. Sure, you might pocket a little more money if you sold it yourself. But it would likely take longer — and require extra work on your end. You’d have to make minor repairs, advertise it on Craigslist, organize test drives for potential buyers, and handle all the paperwork yourself.
One of the most significant benefits of selling your home for cash is that you get to choose when you close. Once you receive your cash offer, you have the option to choose when you want to move out from your home. This is a huge benefit for those who need to sell their property fast because they’re moving and can’t afford two mortgages.
No Prep Work Needed
As mentioned above, if you decided to sell a home without a realtor, you would have to prep your home for showings and for professional photographs. You would have had to clean, paint, repair certain things, and declutter your home. If you already know that your home needs repairs or a lot of updates, an all-cash offer will be your best friend. You won’t have to spend time and money worrying about making the house presentable; you can just sell it immediately. You also avoid the cost of real estate agent commissions and the hassle of dealing with them.
Quick Access to Cash
If you are in a predicament where you face potential foreclosure or you are struggling to pay your mortgage, then an all-cash offer can provide you a quick way out of your financial difficulties. Typically, once the bank starts its foreclosure process, you only have a few weeks to about a month before they take back the home.
Not only do you lose your home, but you also may see a huge hit to your credit score, which can prevent you from receiving another approval on a home. If you need a way out of your financial situation, you may want to consider accepting an offer from a reputable company that buys houses for cash. We buy homes fast in any condition and in any location. If you work with us, we will buy your home and get you cash within a few days, avoiding all of those problems.
What is needed to close a cash real estate deal?
Many people require you to bring the following items with you to your signing appointment:
- Your government-issued ID.
- The deed, if your home is paid off.
- House keys, garage door remotes, and codes to keyless entry and alarm systems.
- A certified or cashier’s check to cover any outstanding costs that won’t be covered by your proceeds, like lien payments, property taxes, or prorated utilities. Your escrow company should let you know ahead of time if you’ll need to bring additional funds.
Request Your Offer Today
Selling your home traditionally in today’s housing market can take a toll on you, especially if you need to sell your house fast. It is possible to sell a home without a realtor; you just need to know where to look.
Many different reputable buyers can offer to pay for your home in cash, but some of them come with additional terms and conditions. For example, some companies may require you to accept their offer within five days, leaving you with not enough time to process.
Contact us now if you are ready to work with a reputable company that works around your schedule. Our team is prepared to answer any questions or concerns you have about selling your home for cash.