There are several home buying companies out there, encouraging people to not list their homes with real estate companies, citing ease of process, selling without listing, and “no haggling over repairs”. Okay, a couple of thoughts for you.
First, you NEVER have to haggle over repairs ANYWAY. You never did! If you know you have repairs that need to be done, PRICE ACCORDINGLY AND LIST “AS IS”, if you don’t want the bother. Done. No haggling. I’m a Realtor and I do it all the time when my clients don’t want to bother with repairs.
Second: These companies will still do home inspections, and you can prepare for their offer price to go DOWN, depending on the “no haggle” repairs they find. That’s right. They won’t haggle; they’ll just reduce their offer price or walk away. Just like ‘regular’ transactions, by the way; and if they DO walk away, you’ve lost VALUABLE marketing time.
Remember that there really is no “haggling” over repairs, if you consider that you own the defects; they are your responsibility if you are the seller. And you wouldn’t buy a car with two flat tires. Why should a buyer buy your broken house items? So fundamentally, it is NOT an argument. It’s on you to either repair or reduce your price. That’s simple and it’s appropriate. These companies know that this part of the process is the most emotional and they’re highlighting that. But remember, you can eliminate that right out of the gate.
BUT MOST IMPORTANTLY OF ALL!!!! Don’t underestimate the value of the FREE MARKET in real estate! COMPETITION, in other words. If I determine your home value to be $180,000 and list your home accordingly, the free market could garner $205,000 or more! If you let one of these easy buyer companies come in, they may offer you 180,000, your list price, and you’ll think you made out like a bandit; but they have also kept you from that extra twenty grand plus that the free market could have brought to you. I don’t know about you, but a few weeks of waiting for 25 thousand bucks would be just fine by me.
There are reasons for the forms and the processes in real estate, people. Primarily it is to protect the parties to the transactions. That’s important. Your local real estate companies are here to service your needs sometimes FAR beyond the actual transaction. Law suits pop up years later, sometimes, for all kinds of reasons. It’s a great idea to have had representation if that happens to you; trust me. All that paperwork might be just fine with you in that case.
Real estate agencies are not an unnecessary cost. Agents know the market, they know homes, they know inspection processes, what you are obligated an not obligated to do, and we maintain your records way into the future, JUST IN CASE. And remember, Realtors build our business on relationships, not numbers of transactions, not “speed” of process. That means we actually care about you and want to be there for you for the long term, and for your friends, and for your children.
If you are concerned about time on the market and showings, hire a GOOD REAL ESTATE AGENT, and avoid those concerns. You have control over when people can go into your home; you can set the days and times people can come in for showings. Didn’t know that? Shame on your agent, then. And if your house sits on the market a long time, IT’S OVERPRICED! Simple, “uncommon sense”. Reduce the price and get IN the market and get it sold.
Finally this: There is nothing wrong with waiting. Yes, your buyer’s lender has to have time to get the loan PROCESSED. That’s not on you. All you have to do is relax. So waiting and waiting? Big deal. Again, if you have waited on your realtor and the process, then you have representation, and that might BE a big deal down the road.
I’m saying this: Beware of going into a transaction with no representation. I’m saying, you need someone in your corner whose sole interest is YOU, not getting your home for a bargain. Since when did you trust any buyer to ‘make it easy on you’ when they were buying your home?
Open door wants all repairs done and try to low ball.