Wanting to sell your house? When it comes to selling a house, many people believe there is only one option. The traditional process of selling a house can take 3-6 months or more (we will look at what causes this later). In this article we will discuss the different options you have, and based on your situation which is the best for you. We will cover selling through the traditional process, the FSBO method, and how to sell your house for cash. Read on, to find out “What Are My Options To Sell My House In Houston?” brought to you by the Brilliant Day Homes Team!
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Options On Selling Your House
Do you want to sell your house fast? Do you want to get the top price? Do you have issues with the property? There are really four routes you can go, and based on why you need to sell, and what your goals are will determine which route is the best for you.The four main routes to choose from, whether you are trying to sell your house fast, or just sell your house in general are as follows:
- Selling For Sale By Owner (FSBO)
- Selling With A Top Real Estate Agent
- Selling To A Professional Home Buying Company
- Selling To An iBuyer
*There are some big differences between a local home buying company like Brilliant Day Homes and an iBuyer. These will be discussed in the breakdown
Now each of these options have their pros and cons, and I will share with you what option might be best for the situation that you are in, and you can decide.
Getting The Most Money
Which case will get you the best price?
FSBO – Doing for sale by owner allows you to not have to pay for the agent commissions, and gives you the ability to have control of negotiating the price of the house.
Agent – Selling with an agent will typically get you the highest sales price for your house since good agents can market the property well and have strategies for selling.
Home Buyer – Selling to a home buying company will allow you to sell your house for cash. Since the buyer will be paying cash, instead of getting a mortgage, you will likely take a lower price than if you were to fix it up and work with an Agent.
iBuyer – An ibuyer will usually give you an instant “sell my house fast online quote” that is close to market value. They will then come visit your property and make price adjustments if your house isn’t already market ready to sell. They also have service fees associated with the sell that will ultimately lower the amount you take home.
I should note that the highest POTENTIAL price is For Sale By Owner. The highest ACTUAL price is usually selling with a real estate agent. The reason for this is because most people like the idea of selling their house themselves but don’t actually put in the effort to go through the process.
Doing The Least Amount Of Repairs
Do you want to sell and not have to put out a lot of effort?
FSBO – By choosing to go this route you will do ALL of the work. You are trading your time and energy for money in this case. Expect to do all of the work to fix up the house, and all of the work to sell the house.
Agent – Hiring a good real estate agent will allow them to work on actually selling your house. You will still need to put in the work to sell your house fast. It is important to fix up the house and keep it clean so that the agent can do their job to try to sell the house fast.
Home Buyer – When working with a home buying company you aren’t expected to do any work. No repairs and no trying to DYI the sale of your house. This is a big advantage of using a home buying company. It is pretty much just hitting the easy button.
iBuyer – Much like a home buyer, iBuyer’s don’t required you to do any work to fix up the house. Now, an important thing to note is that iBuyers don’t usually buy houses that need major renovations. Their model is based on buying houses with minimal work and relisting them. So an offer from an iBuyer may not be given once they see the condition of the property.
Dealing With Title Problems
Have a house to sell that has some challenges to work through?
Sometimes this isn’t an issue. If you have a clean title, and you are the only owner you may not ever consider this. If you are in a situation where you have a lien on the property, you are going through probate, or have tenants that won’t leave, there will be work that needs to be done.
FSBO – This falls on the home seller for everything. If you have good contacts for real estate attorneys and are resourceful and finding information you may be able to handle this, but expect potential battles.
Agent – Most agents aren’t going to be experienced with how to handle issues. They may be able to put you in contact with someone to help you figure things out, but most agents, even good ones aren’t going to help you remove squatters, get your through probate, take on a property that is landlocked.
Home Buyer – Many of the houses that home buyers purchase have one type of issue or another. Whether it is removing liens, stopping foreclosure, working through probate or many other situations. Home buying companies have a huge advantage here just from the experience of working through issues regularly.
iBuyer – iBuyers again are pretty much looking for the easy option here. If your property has squatters, or has been given a board order, don’t expect them to buy it.
FSBO – Many people ask how can I sell my house fast without a realtor, and FSBO is rarely the answer. FSBO is typically the slowest of all in terms of speed. This is the case for several reasons. 1) You don’t have the external help and motivation from an agent to keep you on track and direct what you need to do to sell your house fast. 2) Most people set too high of a price and slow the sale. This leads to no one being interested because of the pricing. Most people who are serious about selling their house end up eventually hiring an agent after failing to sell it themselves.
Agent – Working with a good agent can speed up a lot of the process that goes wrong through FSBO. By setting a good price, and doing strong marketing they will sell your house much faster than an average FSBO. In most cases a good agent can help you sell your house quickly in 45 to 90 days plus the time it takes for your to get it ready. You will always experience a 30-45 day minimum after you find a buyer for your house due to the time constraints of mortgage underwriting when the buyer needs to get a loan.
Home Buyer – in FSBO and a using a real estate agent, you are trying to find someone to buy your house. When working with a home buyer, they are they ones buying your house. They also are going to use cash vs getting a mortgage, so there is no minimum wait time holding things up on getting a loan.
iBuyer – Like professional home buyers, iBuyers are able to move quickly when it comes to buying your property. However, it is important to note, that iBuyers aren’t in Houston. They work with people here, but they are not giving back to the community. Zillow, Redfin, and OpenDoor are based out of Seattle, WA and San Francisco, CA. In addition, all the iBuyers left people holding the bag when the pandemic hit. Local home buyers like Brilliant Day Homes continued working safely.
Working with a professional home buying company is completely different than the other two options and provides a speed that isn’t possible to beat. They give you the option to sell your house fast for cash
We can take a look at which option is best for your situation.
If your goal is to get the most money for your house, your best option is likely to be to fix it up and list it with an agent.
If your goal is to not have to do any work and may have some issues with the property, your best option is to sell to a local home buyer.
As you can see if your goal is truly to sell your house fast, there are only two options – sell to a home buying company, or sell to an iBuyer. But keep in mind that an iBuyer likely won’t buy your house if it needs renovations or has other problems. In addition, the other perks include not doing any work and helping solve issues. It should be important to note that selling your house fast for cash in Houston doesn’t mean you just have to give your house away! If you are asking the question, how to sell my house quickly for a good price, an accredited home buyer will base their offer on comparable houses in the neighborhood and subtract the cost of their repairs on the property.
If you want to sell your house fast in Houston for cash, reach out to us today!