Selling your home is a big feat. If you’re not prepared and if you don’t choose the right method of sale, you could be dropping thousands of dollars into repairs, closing fees, agent fees, holding fees, and more. The thought of that is enough to cause anyone a lot of stress. You don’t need to worry, though. At Property Spot, we can help you sell your home quickly and without all of those excessive fees. Even if we’re not the right option for you, we’ll still help you find the right way (and least stressful way) to sell your home, starting with this blog!
Stressed Over Selling Your Home? You’re not Alone
A recent survey conducted by real estate marketing firm 1000watt, found that a majority of homeowners don’t want to deal with the hassles, headaches and disruption of selling their home. In fact, more than 70 percent of those surveyed said the experience of selling their home was either “stressful” or “very stressful,” with the biggest stressors caused by “having strangers in my home for showings/open houses.”
Of those surveyed, a whopping 77 percent of those surveyed said they’d “probably” be willing to take 5-10 percent less for their home to avoid the hassle of a traditional sale in favor of the convenience and certainty of an instant cash offer.
So, what can you do to avoid that stress? Choose one of these three ways to sell your home.
Stress-Free Option: Sell Your Home to Property Spot for Cash
It’s no secret that selling your home for cash to a trustworthy cash for homes company is the easiest method. At Property Spot, we make it even easier. We promise:
- A cash offer in 24-48 hours
- No repairs or junk removal
- No surprises
- You pick your closing date
- No cleaning/staging
- One time walkthrough
- 4% flat fee
- Stay in the home for up to 6 months*
- No cancellation feeSubstitute price for convenience and no surprises
When Property Spot buys your home for cash, you don’t have to worry about mortgages and loan approval, or repairs and renovations, showings, closing times, and so much more. On top of that, our staff is extremely flexible and will work with your schedule — you don’t have to move until you’re ready to!
How Selling to Property Spot Works
We will send an evaluator out to inspect the condition of your home. These evaluations aren’t the same as an inspection — they don’t look for things that the seller needs to fix. It’s basically a walk-through of the home to get an idea for the layout.
After the evaluation is complete, cash for home companies will send you an offer. Some companies, like us at Property Spot, will get your offer out in 24 hours or less.
Low-to-Mid Stress: Equity Protection Program
Home Equity Loans and Equity Lines of Credit (HELOC) (investopedia.com)
One of the biggest perks of homeownership is the ability to build equity over time. Homeowners can use this equity when it’s time to sell their home by utilizing home equity lines of credit (HELOCs).
HELOCs are a lot like a credit card. Your bank will offer you a line of credit for your home. The form of the credit is up to the bank — it could be an online transfer, writing a check, or a credit card connected to an account.
There are pros and cons to this. You can borrow against your credit line at any time, but untapped funds do not charge interest. In that way, it’s a nice emergency source of funds (as long as your bank doesn’t require any minimum withdrawals).
At a glance, HELOCs look like this:
- Offer on your home in 10 days or less
- 30+ days to close
- Clean the house 1 or 2 times for showings & appraisal
- Lunch is on us during home showings
- Appraisal sometimes required
- Some repairs may be required
- Adjustment to terms may be required
- No commissions or closing costs
- Must be moved out by closing day
- Final price is generally closer to Traditional Sale
Regular Stress: Traditional Sale
Traditional sales are the most common ways people sell homes. A traditional sale utilizes the skills of real estate agents and multiple listing services (MLS) to market your home to a large audience.
Although they are common, traditional sales can be anywhere from mid-stress to extreme stress, as it is highly dependent on the real estate market. At a glance, you can expect all of the following from selling a home with a real estate agent:
- Often wait weeks for offers
- 30+ days to close
- Keep your home showroom ready
- Multiple strangers and showings
- Multiple contingency clauses
- Lengthy and expensive repairs
- Offers subject to change
- 6% commissions + closing costs (Avg. 8-10% total)
- Must be moved out by closing day
- Usually brings in the most money
How Traditional Sales Works
The traditional market has a lot of different steps that lead from preparing your house all the way to the sale. Your agent should oversee all of this and will help you get your home picture-perfect before it’s listed or marketed to their network of buyers. Once it’s listed, the agent will show your home to prospective buyers and negotiate the sale. Finally, when an offer is made, they will communicate between the buyer and you so you both can get a deal you’re happy with.
Then it’s a matter of closing the home and transferring ownership — all of which the agent will assist with.
The downside of this is in the timeline and extra fees. There is no guarantee that you will get a decent offer on your home within days of you listing it and there are commission fees, staging, cleaning, and photography fees, and closing costs that you will have to consider as well.
You also have to consider closing periods. If you sell your home in 3 days, it will take about 33-48 total days to finalize the sale.
If you’re wanting a no-stress option to sell your home, give us a call at (480)400-7792 or visit us online. We’ll make the process quick and easy with a fair cash offer, guaranteed.