Selling your house can be a large feat. When hiring an agent, the process will likely take much longer than a direct sale, and can also end up costing you more in the long run! Keep reading to see how the time it takes to sell will affect you financially.
While there is no way to determine how long selling your house will actually take when listing your house with a Nashville agent, you can plan ahead if you choose to sell directly. In our latest post, we will look at how long selling your house will take and the common things that can cause delays.
If You List…
Getting It Ready For The Market
If you decide to list your Nashville house, you will likely need some time to get it ready for the market. You’ll want to clean up, remove personal belongings, make repairs and possibly stage the house for showings. Repairs can be pricey and finding additional storage outside of your home can be expensive. Staging is an expense too but statistics do show homes well staged sell quicker and for more money.
Finding The Right Agent
Choosing an agent can take some time as well. You aren’t going to want to work with the first agent you meet. Instead, you will likely do some research, talk to friends and family who have recently sold, and speak with a few agents before deciding who to hire. Then the next step is to check on agent reviews on Google + (Google Your Business), Yelp, and Zillow.
Waiting For A Buyer
Once the house is listed, you are at the mercy of the market. Secondly, you will have buyers and their agents coming through your house day and night and weekends. You will need to keep your home tidy at all times in anticipation for showings. There is no guarantee you will find a buyer right away or that you will get the price you are asking for. Your property could sit on the MLS, only to receive offers lower than you had expected. You never know how long this part of the process will take, which makes planning ahead difficult.
The Inspection Process
Once an offer has been made, your buyer will probably require a home inspection and the buyer’s lender will order a professional appraisal. If it doesn’t appraise for what they are lending, the loan won’t be funded or the seller may have to reduce the sales price to keep the deal intact. If there are problems with the property you will need to either make additional repairs or negotiate the price with your buyers. When pricing your home, be sure to prepare for this step. The value of your home can change greatly once it has been inspected. Some sellers even opt to pay for an inspection themselves before putting it in the market. This will ensure that there aren’t any surprises after an offer has been made.
Escrow or Closing
The amount of time the escrow or closing can take will vary depending on the agreements made between the buyer and the seller. The buyer will probably ask for repairs before removing an inspection contingency, and the lending underwriters will not begin their final credit check and approval of the loan until after the appraisal is completed. Typically the full closing process takes 4 to 6 weeks from start to finish. The final closing date is mutually agreed upon in the Purchase and Sales Agreement and becomes effective when it is signed by the sellers and buyers and their representative real estate agents making it into a legally binding contract.
To officially close on the home, you and the buyers will meet at the title company, review all paperwork and finally… sign on the dotted line.
When You Sell Directly…
Get An Offer
When you sell directly to Southern Homes Investments, you will get an offer right away. It is then up to you to decide if it is the right choice for you. We understand you might need some time to think or run the numbers. We will never pressure you into a sale.
If you choose to accept our offer, the closing can take place in a matter of days. With a direct sale to Southern Homes Investments, you will avoid all costs of listing and closing fees (repairs, commissions, closing costs, title search, title insurance, document fees, courier fees, tax stamps etc.) and be able to plan ahead by knowing exactly when the house will close. For many properties in the Nashville area, a direct sale is a faster and more cost-effective solution. You will not need to make repairs or hire an agent in order to sell. Before you decide to list, find out if a direct sale is right for you! There is never any commitment!