Is your home a little bit older but maybe in need of multiple repairs? You are moving anyway so you are not too concerned about any repairs. So, my next step is to decide whether to sell the home myself or use a real estate agent. I like to use what works for me so I choose a real estate agent. I am okay signing the six month contract although I let the realtor know up front that I would like to move on to my next home in 60 days or less. Obviously, my realtor could not guarantee anything. She did tell me her plans to market the house. She also promised an open house either Saturday or Sunday every week. That was a good first step as most real estate agents are selling multiple homes. Normally, I get a showing once a month which can lead to some slow selling. I have never sold a home during a seller’s market so we will not benefit from this circumstance either.Learn more at-cash for house Indianapolis.
After about 30 days, the home had about 14 showings and finally got its first offer. The first offer was pretty good. It was only $2k less than our asking price. This gave us a chance to move up and out within 60 days. When the new owners and home inspection inspected the home there was approximately $35k of repairs. At the time, we actually had the money to do the repairs. I did not like the idea of spending that much money so someone else could enjoy a perfect house. I started to check around for other options.
I saw one of the signs that read “cash for your home.” Since I did not know the details of this, I called the number. I found out that most of these home investors make an offer on the home within 2-3 days. I also found out that you normally can have cash in hand within 30 days. After the phone call, I was interested. We had the discussion and decided to get the quote. We had nothing to lose.
In the process, we also realized that we did not have to pay the normal 3-7% on realtor fees. This would be a plus depending on what the offer was. When we compare the offer to selling through the realtor, we have to weigh in repair costs, realtor fees, and any other miscellaneous costs. We also have to consider the time factor. Just because we have an offer on the house, this doesn’t mean that the house is guaranteed to close.
The next day we got the offer. It certainly wasn’t market value of the home minus the repairs. Yet, after we crunched the numbers, we were going to make more money than selling it the conventional way. Plus, we would be up and out in our 60 day game plan. After consideration, we took the cash for your home offer. In a way, everything worked out great. If we would not have called cash for your home, we would not even know how this option worked. Knowledge is power.