There are a number of ways to sell your unwanted real estate in Roanoke including the traditional (but expensive) method of partnering with a real estate agent or selling your unwanted real estate yourself. The latter of which can cause some serious headaches. Cash options are another option that are becoming increasingly popular for getting rid of unwanted real estate.
Partner With a Real Estate Agent
Most people choose to work with a real estate agency to simplify the complicated endeavor that is selling real estate. It’s a process that has a lot of room for error, and when there’s a lot at stake it’s best to let a professional do the heavy lifting for you.
A real estate agent brings a lot of value to the table. They create marketing plans for the property, coordinate with buyers and lending institutions, do mounds of tedious paperwork, and schedule and host showings of your home.
It’s best to work with a real estate agent that has a low average DOM (days on market.) This represents how long their properties sit unsold, and will help to paint a picture of their effectiveness. A good agent knows how to price a property using their knowledge of the local market, and chooses a price point that maximizes value for all parties, especially you.
While most successful real estate transactions are through agents, there are inherent costs, both in money and time. Most realtors take a standard fee of about 6% for their services, which is paid upon the sale of your home or unwanted real estate.
It’s important to keep in mind that that typical real estate transaction takes a considerable amount of time as well. According to ValuePenguin, while average closing times might be 47 days for a purchase, most loans will actually take between 30 and 75 days to close. Since most real estate buyers finance their transaction, this can prolong your sale time.
For Sale By Owner (FSBO)
This method cuts out the middle-man by taking control of the entire process yourself. The cost-saving benefits are obvious, and this can be an especially efficient process if you already know an interested buyer. However, there’s a reason only 8% of home sales were FSBO in 2020. Selling real estate is hard.
FSBO sellers surveyed by the National Association of Realtors said the following were the toughest aspects of selling their property:
- Understanding and performing paperwork: 10%
- Getting the right price: 9%
- Selling within the planned length of time: 6%
- Having enough time to devote to all aspects of the sale: 5%
Quick Cash Sale
Investors that will purchase properties in a less than desirable state, renovate them, and then flip them for a profit is not a new phenomenon. But with the quickening pace of the real estate market, this method of selling unwanted real estate is becoming quite popular.
Cash-buying real estate companies offer real estate owners a lightning fast cash-out option. Also called “instant buyers,” these real estate companies take virtually all the hassle out of the selling process in exchange for a quick but reduced payout.
A quick cash real estate company’s process is fast and easy. There’s no prepping the property for viewing, no phone calls to bankers or other business entities, and almost no waiting. They can often get a check in your hand the same day they assess your property.
Homes in almost any condition can be bought in cash, even if the home is damaged or in the foreclosure process. These are “as-is” purchases. The investors expect to make renovations and repairs on most of the properties they acquire and this is calculated into their offer.
After they take a look, an offer is made on the spot. The number will be lower than total market value, but there are no other out of pocket expenses or hassles. Most of these companies strive to give a very fair offer that will entice the seller while also leaving room for their investment needs.
If you choose to accept the offer, you get to pick your closing date, often within as little as a week.
Selling your unwanted real estate can be a big financial decision and a quick cash sale may not be ideal for every situation. But if you’re getting tired just thinking about all the meetings, conversations, paperwork, and weeks of waiting that come with the typical real estate selling process, then a fast cash sale is ideal.
Is a Quick Cash Solution Right For You?
If you find yourself with unwanted real estate in Roanoke, VA that needs to be sold quickly, a cash sale on the spot may be the perfect solution.
Quick Fix Real Estate is a family owned real estate investment firm headquartered in Roanoke, VA. Contact us today to schedule a property assessment and no-obligation fair cash offer today.