The process of selling a Chattanooga, TN, home can be done in several ways. The traditional approach to home selling involves hiring a listing agent. Alternatively, some people sell their homes for cash instead.
However, it raises the question, which is better? Identifying your selling strategy before getting started with cleaning, staging, repairs, and renovations can help you figure out how you will handle these tasks. To help you decide which selling strategy is right for you, we’ll compare the benefits of both cash home buyers and realtors below.
The Benefits of Selling Your House to a Cash Home Buyer
If you’re considering selling your house to a cash buyer, you should consider a few benefits.
They Buy Houses with Cash
When it comes to buying and selling real estate, cash is king. Buying a home with cash avoids bank financing, loan approvals, inspections, and everything that comes with a typical transaction.
With cash on hand, they can offer you an offer within 24 hours and close within seven days. In a traditional home sales transaction, there is an offer period of 35 days, followed by escrow/closing periods of 30-60 days. In addition, if the buyer cannot get a loan approval or the inspection finds problems, you may have to look for another buyer.
They Buy Houses As-Is
No matter how bad the condition of your house is, cash home buyers are interested in buying it. You may find this particularly useful if your home is damaged, has unpermitted work, is about to be condemned, or just looks ugly. In other cases, your home may not be as bad; it could just be outdated or have a foundation issue or some fire damage- no matter what the case may be, repairs like these may deter buyers.
Therefore, you find yourself asking whether you should fix your home or sell it as-is. In reality, repairs take time and money and do not guarantee offers or a buyer. On the other hand, selling to a cash buyer means no repairs and an offer within 24 hours.
They Don’t Charge Commissions or Fees
It costs nearly 15% of a house’s sale price to sell a house, including agents’ commissions, home improvements, closing costs, and moving costs. With a median home sale price of $500,000, in-home selling fees would amount to $75,000, as an example.
In contrast, when you sell to cash home buyers in Chattanooga, TN, there are no realtor commissions, home improvements, or closing costs.
What are the Benefits of Selling Your House Using a Realtor
A realtor offers several benefits you should consider before selling your house.
They Can Help Price Your Home
Figuring out the perfect listing price is one of the hardest parts of selling a house. Realtors can help you find comparable homes in your area and give you an idea of what your house should be listed for. In addition, they can provide you with information on what buyers are looking for or how to decorate your home to appeal to a broader audience.
They Can List Your Home on the MLS
The multiple listing service (MLS) allows you to list properties and find others on the market. If your home is listed on the MLS, it has a greater chance of being seen and bought by someone who is looking for a home. If you work with an agent, you will be able to access this helpful tool.
They Can Help Negotiate
One of the benefits of hiring a listing agent is that they will negotiate on your behalf. Negotiating with a buyer or buyer’s agent can be difficult if you take care of things independently. When you work with a realtor, they will protect your interests. Furthermore, this may lead to fewer concessions from the seller or lowball offers.
Should You Sell Your House to a Cash Home Buyer in Chattanooga, TN?
The results should be the same regardless of whether you sell with a realtor or to a cash buyer. However, one may take longer than the other and may require repairs to attract buyers. Alternatively, you can sell to a cash home buyer company without costing you a fortune in repairs, commissions or waiting for months for the house to be sold. Ultimately, it depends on your goals and expectations.
Selling a house shouldn’t be stressful, so if you’re feeling overwhelmed by the process, Favor Home Solutions can help! We buy houses in Chattanooga, TN, and we’re committed to assisting you in any way we can. We’re backed by our reputation and our client’s trust, so if you’d like to learn more about getting a free, no-obligation cash offer for your home, don’t hesitate to contact us!