If you have unwanted real estate in Charlotte that you’re looking to get rid of quickly, there are several ways you can go about selling it. You can partner with a real estate agent. This is traditional but expensive when you factor in staging, showing, and your agent’s commission at sale. You can sell it yourself but be prepared for some serious real estate headaches. You can sell your unwanted real estate for cash, which will be a slightly reduced price than market value but will save you both the expenses and the time associated with a real estate agent or selling it yourself.
Each method has its advantages and downsides. This is true in both bull and bear housing markets. Ultimately, it’s all about finding the solution that makes sense for your timeline and your financial situation.
Partnering With a Real Estate Agent
This is by far the most common method of selling real estate. Working with a real estate agent ensures that your transaction is carefully handled by a well-trained professional.
They do virtually all the legwork, like coordinating between all the various institutions and buyers, preparing for and scheduling showings, creating an attractive online listing, etc.
Everything they take care of is one more thing off your plate, simplifying what can sometimes be a stressful process. They will bill you for these services, but you likely won’t have to pay until your home has been sold.
One of the specialties of a trained real estate agent is to accurately price your home so that it attracts quick offers. They leverage their knowledge of the local market to choose the price point that’s still enticing to buyers, while also netting you the highest possible return on your investment.
While real estate agents have a proven track record of successful transactions, there are a couple downsides to this route. The first is the percentage fee that agents charge which reduces your own payout by 5-6%.
The second downside is the traditional route of selling real estate property is a slow process with lots of red tape. 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. This means a longer closing time if your buyer is financing the transaction, which most buyers do.
For Sale By Owner
For Sale By Owner, or “FSBO,” as it’s sometimes abbreviated, is the method of selling your unwanted real estate yourself. As the property owner, you take complete control of every aspect of the process.
There are a few circumstances in which this may be the best solution for your property, especially if you already know a buyer is interested. If you like to be in the driver’s seat and think you have the ability, doing it all yourself can cut out the middleman. This can maximize what’s going into your own pocket.
It’s important to keep in mind that selling your unwanted real estate yourself means that you have to take on the role and responsibilities of a real estate agent. Be prepared to coordinate with buyers, do your own paperwork, and schedule showings of your property. The difficulty of pulling off this method of selling real estate is reflected in the statistics.
Only 8% of home sales were FSBO in 2020, and without the expertise of a realtor involved, they sold for less too. The average sale price for real estate owners who sold their unwanted real estate themselves was $217,900 compared to $295,000 with a real estate agent.
Quick Cash Sales
Selling your property in a fast, hassle-free transaction for cash is an attractive prospect for many. Cash sales from investors are becoming increasingly common.
The National Association of Realtors reports that investors accounted for 15% of home sales in July 2020, an increase from 11% the year prior. Cash buyers tend to be unconcerned with the showroom-readiness of your property and take potential renovation and repair costs into account when calculating their offer.
Cash real estate investors offer you the benefits of speed and simplicity. You won’t have to worry about realtors, home improvements or inspections, time, out-of-pocket expenses, or anything else.
Quick cash real estate investors buy your home in an amazingly quick transaction and they can have a check in your hand by the end of the day. It’s a quick and simple process.
They will do a quick assessment of your property and make a cash offer on the spot. The offer will be slightly lower than the market value to account for potential renovation costs but most of these companies strive to make a fair and enticing offer. If you accept the cash offer, you can sometimes close in as little as 7 days, or a timeframe of your choosing.
Ultimately, it’s your decision how you sell your unwanted real estate in Charlotte, but a quick and clean cash transaction without months of paperwork and phone calls just might be the ideal solution.
Do You Want a Fast and Fair Cash Offer Today?
Looking for a reputable cash real estate investor in Charlotte? Quick Fix Real Estate is here to help. Contact us today to schedule a property assessment for a no-obligation cash offer today.