After a talk over dinner with the family, everyone thinks it is time to sell. The bigger question starts with hiring an agent to sell your house in Baltimore? Is time a big issue and are you willing to wait months before you receive an offer? How long will it take before you close and get paid? Do you want to pay the superstar agent a heft commission? Are you willing to cough up money for repairs you have to make? How does the kids room look before a showing is scheduled? Are you available to show your house with 24-hour notice, or less? There are all of the issues(amongst others) you have to consider before hiring an agent to sell your house in Baltimore, Maryland.
Commissions and Fees
Real estate agents are paid based on a percentage of the sale price of your house. If you do not use an agent, there will be no commissions paid to a buyer’s or seller’s agent. That means thousands of dollars in savings! The usual commission is 3% per side, so if you sell your house for $400,000, you would have to pay $24,000 in commissions alone, along with the traditional seller’s closing fees and other possible transaction fees to the closing agent and the real estate agents office. Real estate investors typically do not charge commission or transaction fees, and if they do, it is extremely low in comparison.
Waiting Time Frame
Real estate agents have access to the multiple listing service, or MLS, which allows your property to be found in searches for certain features of a property. This may sound great, but how long will it sit on the market? How fast will you receive offers? Real estate investors and other direct house buyers typically have a network of other house buyers, so if your property doesn’t fit their portfolio, then it may fit one of their colleagues’ portfolios. Either way, this means very limited waiting time for an offer. Also, when you sell your house in Baltimore, Maryland to house buyers, they will typically close faster than traditional house buyers, and usually in pay full in cash. Traditional house purchases usually require qualifications from banks, mortgage underwriting time, property inspection and the buyer may not end up qualifying in the end.
Inspections & Repairs
Professional house buyers in Maryland will usually purchase houses 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. When you use a real estate agent, the buyer’s agent will almost always order an inspection of the property. If they find something wrong with the property structure, they may require you to fix it out of pocket before the property closes.
If you like certainty and want to get things done quickly, I would recommend using a professional house buyer in Baltimore, Maryland. The best thing is you will not have to worry about going through the whirlwinds of dealing with picky buyers. You don’t have to worry about leaving happy hour with your co-workers to get the house ready to show. You don’t have to worry about cleaning the kids room 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 going back and forth with the seller about upgrading the furnace. You also don’t have to worry about buyers arguing with you over which title company to chose.
There are a lot of situations to think about when hiring an agent to sell your house in Baltimore, Maryland. Here at Charm City Property Solutions, we can help you decide the best option for you.