Do you need to sell your house fast in Minneapolis St Paul? It essential that you understand and take advantage of all the options available to you. There is more than just one way to sell your Minneapolis St Paul home in Minnesota . In this blog post, we will get you the options that are the most popular ways to sell your house, so you can decide which option will be right for you.
Hiring A local Minneapolis St Paul Real Estate Agent
– Cost To You
Most of the public knows that when you sell a house traditionally on the MLS (multiple listing service), they are paying a commission of about 5-6%. This all depends on the services you are looking for from the agent. We have two this change two different directs in recent years with on one end going up to 7%. The 7% commission rates include staging, remodeling, and repair advice from an interior designer while others are offering a discounted commission where you barely get pictures when they market your home. If an agent is hired, also know that there and they are able to sell your house in Minneapolis St Paul successfully, there are other costs as well.
- Marketing – Many home sellers want or need to utilize marketing that goes beyond their agent’s scope. This can be professional photography, virtual tours with drones, online paid listings, or broker lunches where all the local agents come in to view the property.
- Repairs – Even if your house is in great shape, there will always be something that will need to be repaired. Most homes would benefit from a new coat of paint, flooring, or redoing hardwood floors. On a delayed maintenance side replacing a leaky bathroom faucet, finishing a project you started, or expanding to a larger one must do like installing a new furnace or roof. These repairs will add up fast. On an average 1000 square foot 3 bedroom rambler in Minneapolis St Paul, a new roof can run from $9000 to $15000. Thanks a lot to do to get the house ready to sell.
- Staging your Home- When you list your home with a real estate agent, you will want it to be it’s very best. We already talked about doing the repairs, but now there is another level you might consider lifting your house looks. This is called staging. Professional staging means you hire a professional to come in and be critical of your house and make suggestions on what you can do to make it show better to get a sale faster and at a higher price. Often the stagger will walk around with you and take some time to hide the clutter and decorate it in a warm and inviting fashion. You might remove some furniture, and they may ask you to rent more fashion-forward furniture to get the property a more up to date feel for the buyers who are considering a house like yours. Whether or not you hire a professional stager in Minneapolis St Paul, making the house pretty can cost a pretty penny. No pun intended.
- Holding Costs – The holding costs start when to want to sell your house through the time that it is actually sold. When marketing through a local agent, that timeline can be from 4 to 8 months, depending on the repairs/staging done on the front end of how fast the house sells. The holding costs include things like your property taxes, homeowner’s insurance, utility bills, and maintenance. These costs don’t stop when you are prepping your house for sale or when you list your home. In fact, keeping your house in sell ready shape can actually drive your holding costs up even higher.
- Closing Costs – As a Minnesota home seller, you will usually pay somewhere around 2% of the final sale price toward your closing costs. If you have a $200,000 house, that is $4000 just to sell the house.
- Cleaning – Before you list and while to is on the market, the house will need to be kept clean. Most of us live our lives and do cleaning as we go. But when you sell a home and want to get a fast sale at top dollar, you have to do a deep cleaning. Cleaning all the grout lines around the tile in the bathroom. Pull out the stove and fridge to get those dust bunnies. Many people opt to have it cleaned professionally by molly maids or someone before it is listed. Make sure you are maintaining the home while it is listed, keeping it in tip-top shape for all showings. It would help if you also considered professional carpet cleaning, power washing, and yard clean-up and hauling all junk.
That said, working with a local Minneapolis St Paul agent has the potential to get the highest purchase price possible. Just be sure you have deducted all of the costs mentioned above to be sure listing with an agent in makes sense for you.
When you hire an agent to help you sell your house in Minneapolis St Paul, they will spend most of the time marketing the home. That said, the process will require some of your time and effort as well. For example, you will likely have to spend time…
- Keeping the property clean, stagged and ready for those last-minute showings that come with an hour’s notice
- Making all small repairs, delayed maintenance and upgrades to the property before it hits the MLS
- Marketing the property on sites like craigslist, nextdoor others than just the MLS
- Leaving for the evening quickly when someone requests to come to see it
- Waiting for an offer without any control, hoping you will get your asking price
- Reviewing offers from potential buyers if the agent did their job
- Negotiating with potential buyers through the agent and then waiting for them to get back to you
- Waiting for the escrow process to be completed
- Dealing with inspectors and appraisers as they spend hours in your home
The worst part is that you could go through all of the above, only to have the sale fall through at the last minute because the offer was too high, and the appraiser couldn’t find comps to support the offer. Or the list of things the buyers want to your repair or give a significant discount on the purchased price after their inspection. If you’ve spent any time shopping for homes in the past, you’ll often see properties go pending, only to be relisted when the funding or other reasons it falls through.
One of the most difficult parts of selling your house with an agent in Minneapolis St Paul is the unknown. And that unknown last for months at times. You won’t know if you will get close to your asking price. You think about all the money you put into repairs and upgrades, not knowing if your improvements will provide returns. Not only is this stressful, but it also makes it difficult for you to plan on what to do if and when the house sells. And heaven forbid, the property does not sell after 6 months and you have an expired listing and still have your house not sold.
Selling To An Investor
An real estate investor will make a pretty strong argument why it is better to work with a investor than a real estate agent in Minneapolis St Paul. You read and come to your own conclusions.
It’s no secret that when you sell your house to an investor in Minneapolis St Paul, the sale price will not usually be as high as retail selling through an agent. That being said, the amount you can save will more than makeup for the difference. Most Minnesota direct buyers, including Minnesota Cash Home Buyers buy houses as-is, which means there are no repair or cleaning costs to worry about. You will also not have to pay commissions, those extra holding costs as your house is being sold. We pick up your typical closing costs, including title work, or extended closing costs. Most all of …
In most cases, we will offer you a fair price and buy your houses as-is while being able to close in just a few days or whenever it is convenient for you, potentially saving you thousands in holding costs. You won’t have to do a thing other than pack up the items you wish to keep: no repairs, no cleaning, no getting rid of the junk that been lying around for years. We will handle everything else, including any items you wish to leave behind. Working with Minnesota Cash Home Buyers will help you sell your house fast and in less time, offering you convenience and a fair price for your home.
When you consider the time and the money involved with working with a Minneapolis St Paul real estate agent vs. selling to a local investor, your idea of how to most efficiently sell your house may change.