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 Memphis 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 Memphis 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.
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.
Waiting For A Buyer
Once the house is listed, you are at the mercy of the market. 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’s lender will require an inspection and appraisal. If it doesn’t appraise for what they are lending, the loan won’t be funded. 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
The amount of time escrow can take will vary depending on the agreements made between the buyer and the seller. The buyer may ask for repairs before signing off on contingencies and the lenders may take some time to fund the loan. Typically escrow takes 2-4 weeks+.
Closing
Once the escrow process is complete, the buyer and seller will need to arrange a mutually agreed upon date to sign the paperwork. You 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 Restoration Properties, 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.
Sold
If you choose to accept our offer, the closing can take place in a matter of days. With a direct sale to Restoration Properties, you will avoid all costs of listing (repairs, commissions, closing costs, etc.) and be able to plan ahead by knowing exactly when the house will close. For many properties in Memphis, 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!