Millions of Canadians move each year, meaning that it’s likely you might relocate to a new home at some point during your life. But when it comes time to sell your home, you might assume your only option is to work with a real estate agent.
Unfortunately, working with an agent isn’t always the best way to go about selling your home quickly. And while some realtors can provide valuable information, others might not always have your best interests at heart. You may even find that you’re able to fetch a fairer price for your home in its current condition when you seek out direct buyers who pay cash for homes rather than go through the traditional selling process.
Below are just a few reasons that home sellers will often forgo working with agents in favor of finding cash home buyers instead.
It’s important to remember that, when selling a home the traditional way, the final sales price of your home doesn’t represent what you’ll actually receive. One of the many fees you’ll have to pay is your real estate agent’s commission. In Canada, there’s no set rate that all agents receive for their commission. Although commission fees typically range between 3% and 7% of the final sales price, some agents may actually charge additional fees on top of a flat fee. It totally depends on the agent and your agreement. But no matter what, you’ll have to earmark a portion of the sales payment for your agent — and many sellers don’t particularly enjoy the thought of that. When you opt to work with buyers who offer cash for homes, you’ll avoid having to pay a commission at all.
Homeowners will usually be advised to make certain repairs or upgrades prior to listing their properties for sale. These recommendations are usually based on an agent’s expertise regarding buyer preferences and comparable homes in the area. That said, these upgrades can often be a gamble. There aren’t many home improvement projects that will provide a 100% return on investment, which essentially means you’ll be losing money when you sell. What’s more, having that much wiggle room in your budget is a luxury that many sellers simply don’t have. When your budget is already stretched thin, it may not be feasible to invest money in a property you intend to leave. Fortunately, those who offer cash for homes will buy properties as-is — which means no upgrades or repairs are necessary.
Traditional home sales often take a lot longer than you’d think. Properties can sit on the market for quite a while before an offer comes in. And when buyers use conventional financing options, it can take 30 to 90 days from the time you accept the offer until they can actually close on the property. As a result, many homes can take at least a few months to sell. And if your home isn’t in pristine condition, you could have to wait a lot longer. Delayed sales can translate to undue financial and emotional stress, particularly for those who are facing foreclosure, job relocation, or other personal events. When you work with buyers who offer cash for homes, however, you’ll be able to speed up the process exponentially and gain total control over how quickly you close.
Ultimately, there’s nothing that says you have to work with a real estate agent — and for that matter, there may be some very valid reasons not to. If you’re working with a limited budget or have only a small window of time in which to tell your property, selling a house for cash may be the best way to go. To learn more about working with cash home buyers in Calgary, please contact our team today. We’d love to help you get a fresh start fast.