At Easy Home Offers we get it – selling your home in Oklahoma City isn’t always easy. Finding a buyer and settling on a price can be hard work. But, there’s another way that’s getting popular: selling straight to a buyer. In this article we’ll talk about the good and the not-so-good parts of this choice. This should help you make sense of who’s who in the world of selling your house today. Let’s see if it’s right for you.
Benefits of Selling Your Oklahoma City Home to a Direct Buyer
1. A Simple and Easy Process
Navigating the home selling journey can be a roller coaster, and understandably it can take its toll. But there’s real hope on this path: selling your home to a direct buyer. It stands out because of its sheer speed and ease. Picture this: while regular sales can be a slow dance, taking months, a direct sale is like a fast-forward button. These buyers often come with their wallets ready, eager to get the deal moving. It’s all about cutting down the wait and getting you closer to your goals faster.
2. No Need to Make Repairs
If you’re considering selling your home to a direct buyer, here’s some good news: there’s no pressure to spruce up or repair your home. Direct buyers often hunt for homes they can renovate and then resell. So, you have the freedom to sell your home in its current condition, no touch-ups needed.
3. No Realtor Fees
An often overlooked but crucial advantage of selling your home to a direct buyer lies in the financial savings, particularly concerning realtor fees. When going the traditional route with a realtor, a commission fee, usually around 5-6% of the sale price, gets deducted from your earnings. Let’s put that into perspective: for a home sold at $300,000, that’s an $18,000 cut! This significant sum is a financial burden many homeowners would rather avoid, especially when considering other potential listing and closing costs. By choosing a direct sale, you bypass these hefty realtor fees altogether. This not only simplifies the process but also ensures you retain a larger portion of your home’s value, maximizing your profit and financial benefit from the sale.
4. Cash Offer
Direct buyers often come forward with cash offers, ensuring a streamlined process. This means you can access the money from your home’s sale faster than traditional means. Especially for homeowners urgently needing to settle debts or relocate swiftly to a new place, this presents an efficient and beneficial solution.
Drawbacks of Selling Your Home to a Direct Buyer
1. Lower Offer Price
While selling your home to a direct buyer offers several conveniences, it does come with a potential downside: you might get a lower offer than through traditional sales channels. This is primarily because the buyer absorbs not only the costs related to commissions, repairs, and ongoing property holding but also the risks associated with unforeseen house issues. The buyer faces many unknown challenges, some that even homeowners might not be privy to. There’s always the lurking risk of inspectors revealing issues during the escrow process, which can jeopardize the sale. Sometimes this leads buyers to factor many uncertainties into their offer.
2. Limited Market
One potential downside of selling your home to a direct buyer is navigating a narrower market. Since direct buyers often seek properties requiring upgrades or fixes, a well-maintained home might not attract their attention or fetch its true value. For homeowners with homes in pristine condition and no pressing time constraints, opting for a traditional listing might prove more beneficial. While some direct buyers are still willing to pay full asking price, its difficult to find them. Most of the time these direct buyers will offer terms, which break up the purchase price in regular installments. Terms are great for reaching a more realistic price but the time to recieve the full payment takes time.
Unfortunately, there are scams out there when it comes to selling your home to a direct buyer. Some investors may try to take advantage of homeowners who are in a difficult financial situation by offering them a lowball price for their homes. It’s important to do your research and work with a reputable direct buyer who has a proven track record of buying homes at a fair price. At Easy Home Offers, you can always count on our team to offer sound advice.
Selling your home to a direct buyer in Oklahoma City can be a great option for homeowners who are looking for a quick and easy sale. Remember to do background checks when selling your house fast by verifying if the direct buyer has a history of buying houses in Oklahoma City. Call their title and escrow office for feedback. We use Chicago Title in Edmond for our closings.
However, it’s important to consider both the benefits and drawbacks before deciding whether a direct sale is the right fit for you. If you’re looking to sell your Oklahoma City home quickly and easily, and don’t want to make any repairs or upgrades, a direct sale to Easy Home Offers may be the best option for you. Give us a call today to find out how we can help! (405)766-8700