One of the biggest decisions you will ever make is selling your home. When you’re finally at the point where selling makes sense, you must decide which path to take based on your situation & circumstances. Sellers rarely look at the big picture. Their first knee-jerk reaction is to call a licensed real estate agent without considering the overall condition or the balance still owed on the property. That’s why the alternative of selling to a professional investor, like those at East Tennessee Home Buyers LLC can make all the difference.
Selling your home is a business decision and like all business decisions, it comes down to the numbers! Understanding the differences in the costs between selling your Knoxville house with an agent versus to an investor is critical.
Agent –
Unlike some local home buying companies such as we buy houses Knoxville, there will be marketing costs associated with selling your Knoxville house if you choose to go with an agent. This is not necessarily a bad thing as long as you can still net your desired amount at closing.
There will be other costs to consider as well. Be informed before you’re prepared to sell your Knoxville house with an agent. These costs can vary widely depending on the condition of your home. Maybe your home needs a little tidying up before scheduled showings begin? Maybe there are a few minor repairs that need to be addressed along with some paint & carpet? Finally, if the agent suggests significant renovations to get the market price, you better have your checkbook handy! Full kitchen and bathroom renovations are not cheap and finding contractors who can complete the job on budget and schedule is a job in and of itself. Oftentimes sellers who don’t have extra funds available will contact a locally trusted home buying professional like East Tennessee cash home buyers. This is where life gets a lot easier.
Big-ticket items such as roof, electrical, plumbing & foundation issues could render your home unmortgageable to prospective buyers. And don’t forget, many of these repairs must be completed prior to closing, which means those costs must be paid for by you the homeowner. If there are existing issues with your home that you were unaware of, those problems will be brought to light if an inspection is conducted. Buyers may choose to waive same repairs depending on how severe they potentially are.
Staging expenses cover the cost to depersonalize the space, which enhances selling your Knoxville house with an agent. Buyers who tour the home can easily imagine themselves occupying a home free of personal items or showing a distinct personal taste in decor. You may also encounter storage costs to clear your home of excess belongings.
Advertising expenses should be discussed and agreed to before signing the contract when selling your Knoxville house with an agent. These costs include professional photography for the high-quality images buyers have come to expect as they search listings online and professional drone pilots to provide 360-degree virtual tours.
Commissions are paid for professional services provided, including marketing, paperwork, arranging for inspections, appraisals, and doing all of the footwork to bring a buyer to the door and finally the closing table when selling your Knoxville house with an agent. You can expect to pay a total of around 6 percent of the sales price in commission. This is however not the case when you work with we buy houses Knoxville & other professional home buying companies in your local area.
Holding costs for the duration you have listed your Knoxville house with an agent can quickly add up, especially if you have had to relocate. Suppose your reasons for selling are financial. In that case, the longer that the listing lingers on the market, the more monthly payments for the mortgage, insurance, and taxes, and all of the utilities you will continue to carry. The strain of this situation can cause restless nights and extreme stress for your entire family.
Investor –
Cash home buyers near me have none of these expenses! Because locally trusted house buyers purchase homes in as-is condition , you can close fast, sometimes in a matter of days!
With little closing time to worry about, it is easy to see how selling your Knoxville house to an investor like the professionals at East Tennessee Home Buyers LLC saves you time and money! Ready to sell your Knoxville house? Call East Tennessee Home Buyers LLC at (865) 935-8680 or send us a message today!