When you sell your home through the “traditional route”, you first need to prepare the home for listing. This may mean taking care of any outstanding work permits, bringing the home up to date on taxes, or giving the home a face-lift.
Then, you have to go through the process of showing the home and finding buyers. This can be months of strangers coming into the home at random times to view the house, and at the end, you may not find a buyer if the home isn’t “perfect”.
If you do find a buyer, it takes an average of 50 days to close on the house (according to that National Real Estate Association). And as we all know, home transactions are notorious for falling through last minute.
That’s just the time involved.
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You also have to pay an average of 6-10% of the sales price of the home in closing costs.
And beyond closing costs, you still have to worry about all the other little incidental costs that gradually add up.
Things like the cost of holding onto the property for the time it takes to sell. Or the legal fees that may be associated with a complicated property sale (like inheritance or estate sale). And then there’s the repairs and utilities that buyers always ask you to perform before they’ll take the home.
All of these costs can add up to thousands of dollars and eat away at the equity of the home.
When we make you an offer, you keep 100% of the sale price. If you sell the “traditional way”, you keep around 85-87% of the sales price.