Are you thinking about using an FSBO listing? Before you jump into the for sale by owner (FSBO) waters, it is essential to understand how the costs of this method of listing a home can cut deeply into your time and money. On average, around 7% of FSBO listings are active in today’s market. That percentage has taken a deep dive over the past years. Yes, there are easier ways of listing your home for sale by the owner. But there are also more accessible ways of selling your home on or off the market. There are plenty of real estate agents to list your home in today’s world. Plenty of real estates investors are real estate investors willing to pay cash for your home. We will cover what you should know about using an FSBO listing to sell your house in Philadelphia.
While many homeowners undertake this difficult task on their own, believing they will save thousands on commissions, they learn too late that this is not the case.
When you list your home, likely, you will still be working with a real estate agent representing a buyer. This means you will still be paying commissions, which is essential for using an FSBO listing to sell your house in Philadelphia. That commission will come out of the sale of your home since they will be using a real estate agent. Most likely, they will still ask for an inspection period, possibly requesting repairs to be made to your home. It will feel like you are making such unnecessary repairs to your home to make the buyer happy.
Setting the right price can mean the difference between a quick home sale and your home lingering on the market. Some homeowners who do not price their property right the first time could wait a year or more just for a potential buyer. We do not want you to go ahead and lowball yourself from the start. If you want to be sure you are on point, you should hire a professional appraiser to compare your property to those recently sold. You may also wish to enlist the services of a real estate attorney to draft your contract.
Advertising in today’s real estate marketplace means using professional photography, virtual tours, and staging the home, which can be expensive. These expenses are essential details that you should know about using an FSBO listing to sell your house in Philadelphia. Another way most homeowners find out what their property may be worth is by talking with neighbors who have sold recently. If you know your house is similar to theirs or slightly better, you can get a good feel for what your house is worth. At least get a starting point for your asking price. Everyone wants to get the most they can for their home but not try to get too much for the home that it will not sell.
Another thing you should know about using an FSBO listing is to sell your house in Philadelphia because buyers will almost always order an inspection of the property. If they find something wrong with the property structure, they may require you to fix it out of pocket before the property closes. There are also more minor fixes that the buyer may request for you to repair. You can always work things out with the buyer, but you will most likely have to make repairs or knock money off the sales price. Repairs can be costly, especially in older homes like Philadelphia. It seems like there is always something going wrong. Unless your home has been completely renovated in the past couple of years, we can almost guarantee there will be an issue.
Are you available to show your house with 24-hour notice or less? Ready for the phone to ring at all hours, often the calls are from pushy and eager buyers agents. Scheduling showings and ensuring your home is always ready for walkthroughs can be extraordinarily stressful and cut into necessary family time. Making confident you meet any pending deadlines for your transaction can also bring added pressure. The paperwork also takes time, and it’s essential to know that all of these time-eating responsibilities come along with using an FSBO listing to sell your house in Philadelphia.
Buyers using traditional financing can waste your time by failing to qualify for their loan after going through all of the previous steps in a real estate transaction; this is another problem with using an FSBO listing to sell your house in Philadelphia. Your buyer could have unexpected life changes or changes in their credit score or debt ratio since being prequalified. One thing you can do about it is to only work with preapproved or cash-only buyers. Remember, try not to be insulted when working with cash-only buyers; they expect to pay less for your home due to the advantages of closing a deal in cash. It is becoming one of the most common ways to sell homes promptly. Philadelphia companies are beginning to pop up more and more these we buy houses across the city, making it easier for homeowners to sell their homes. Finding the right company should not be hard.
Using an FSBO listing to sell your house in Philadelphia can be expensive and time-consuming. How long are you willing to wait? Buying Property 215 typically closes within 30 days or less; you won’t pay commissions or other fees by selling directly to Buying Property 215. What we offer is what you are paid at closing. Buying Property 215 saves you both time and money; we usually purchase homes as-is, so you can avoid paying for repairs before closing. You won’t have to worry about marketing costs or the headaches of showings. We make it easy! Just send us a message or call 215-359-6090 today!
We’re Buying Property 215, a family-owned real estate company in Philadelphia. We purchase property in any condition regardless of the situation. We provide multiple home selling options, allowing for a simple process. Since we purchase homes as-is, there is no need for home repairs or renovations. Buying Property 215 covers all closing costs and fees while providing the highest cash offer. Close on a time frame best suited for your needs, and we can close within twenty-one days or multiple months. The Better Business Bureau accredits our small business with an A+ rating and 5-star google reviews!