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We Analyze The 3 Ways To Sell Your Home In Minneapolis St Paul
If you own a home and are thinking about selling to home buyers in Minneapolis St Paul, you have a number of selling options available to you. In this blog post, we’ll look at 3 ways that you can sell and break them down to help you determine which way is best for you.
For most people, owning a home is the largest purchase of their lives. So it’s not surprising that the process of buying a home or selling a home can be extremely complex. It can be alittle overwhelming knowing you need or want to sell your home, but not understanding the process or what is the best option for you.
Over the years, three home-selling options have developed to allow homeowners like you to sell to home buyers in Minneapolis St Paul. As you think about selling your home, you need to decide which way to sell is best for you, given your goals and timeline to sell. Each one works well and just that you should be informed on all the ins and outs of each way.
Home-Selling Method #1: Sell Through A Real Estate Agent
This is the traditional way to sell your home, so it’s also the most common. In this home-selling method, the homeowner chooses a real estate agent who will list the house for sale on the MLS and market the home on realtor websites.
The agent acts as a “middleman,” showing prospective home buyers in Minneapolis St Paul through your house until one of those buyers decides to buy. If the buyer comes threw a different agent, the two agents will discus what you the seller wants and what the buyer wants. They help both come to a mutual understanding and put together the paperwork. They will set up the closing title company.
The timeline on this selling method can take months (the average is 3-6 months). Sellers who choose this method prefer to gamble on the timeline to do less work (the agent does the work) and with the hopes of selling at the market price. However, sellers who use this method will often need to spend money up-front to repair their house first. Did you know that the average home owner spends $8000 to $12000 getting ready to sell their home. A new kitchen can cost $30,000, new furnace $4000 to $6000, while a new bathroom around $10,000. If you have not kept up on your repairs or updates to your home, the Market might require you to bring it up to date. And then after the sale at the closing table you will have closing cost that include agent broker fees (average $250 to $795) and those 5 to 6% commissions.
Home-Selling Method #2: Sell On Your Own
This method of selling has grown up in response to a desire to save money on agent commissions, we get it, those commissions ad up fast. The process is very similar to the above method of selling but it’s done by the homeowner themselves, and not by an agent.
The homeowner lists their house, sets up some marketing plan, does open houses, shows it to prospective buyers, negotiates with the buyer, and closes the deal. You still have some fees at closing but the 5 to 6% commission is gone. Remember there are still expenses with this type and the type close rate is only 5% of the For Sale by Owners actually close. That’s a bummer.
There are a lot of similarities – the timeline is usually the same and the homeowner will still have to pay up-front for repairs on their house to make it sellable. Sellers who choose this method don’t mind the extra work involved in showing their house; they usually choose this method to save money on commissions.
Home-Selling Method #3: Sell Direct To Home Buyer In Minneapolis St Paul
This method of selling is gaining popularity as homeowners look for a third way to sell. This process is very different – it’s also much faster, easier, and doesn’t cost the homeowner anything (so it’s not surprising that this method is gaining popularity). You heard that right, selling directly to a home buyer in Minneapolis St Paul like Minnesota Cash Home Buyers will cost you zero. We pay for all the closing cost, you just sign some paperwork up front and pick a closing date, we do the rest. I almost forgot, you need to show up at the closing to pickup your check.
Rather than listing and showing the house or negotiating, the homeowner simply sells their house direct to a professional home buyers in Minneapolis St Paul with cash and who is ready to buy the house as-is right now.
It’s faster – the buyer has money and is ready to buy; it’s easier on the seller – there is no expense or effort to repair the house before it’s sold; and it doesn’t cost the homeowner anything – professional home buyers (like what we do here at Minnesota Cash Home Buyers) usually pay closing costs and fees.
When you analyze the 3 ways to sell your home, many of good people find that the way that makes the most sense is selling to a home buyer.