You’ve come to the conclusion it’s time to sell your Edmonton home. But the dilemma is whether you should find an agent to sell your house in Edmonton, Alberta. What about the hefty commissions? When will you get that first offer on the property? How long will closing take? Will you have to make many repairs? Do you want to bother with tidying up before work every morning? What about the short notice showings?
Are you sitting on the fence, trying to decide if the time is right to sell your Edmonton residence? Maybe you have already decided. Sunrise Home Buyers offers some helpful tips to make your decision clear.
If you decide to sell your house directly to a direct house buyer in Edmonton, Alberta, you can avoid that roller coaster of emotions. You will be able to eat your meals in peace, not worrying about any middle-of-dinner phone calls to show your house. You won’t have chase your kids out of the house in the morning so its spotless every day before you leave for work, on the off chance there is a showing while you’re gone. You also don’t have to worry about negotiating with buyers over which furniture you are taking, who will pay for the necessary repairs their inspector found or over the date when you have to be gone.
Commissions and Fees
Real estate agents receive a commission based on a percentage of the sale price of your house. If there is no agent involved….there is no commission to pay. The result is thousands of dollars in YOUR pocket! The usual commission is 7% on the first $100,000 and 3% on each additional $100,000. So if your Edmonton house sells for for $400,000, you would have to pay $16,000 out of the selling price in commissions alone. Added to that would be any closing and legal fees. Real estate investors typically do not charge any commission or transaction fees. The convenience and savings are built into their offer price.
The Waiting Game
Real estate agents will list your property on the multiple listing service, or MLS. This allows your property to be found in searches based on numerous criteria. That’s great but your concerns are: How long will it sit on the market? How long before the firt offer arrives? Was it priced right? Too High? Too low?
Speed Up The House Selling process
Established and local cash house buyers in Edmonton typically have a vast network of other home buyers, so if your property doesn’t fit their needs, they have many other contacts they can access to try and get your home sold. Whichever way it plays out, if your asking price is reasonable, the waiting time for an offer will be short.
Finally, when you sell your house in Edmonton, Alberta directly to house buyers, they will typically close much sooner than traditional buyers, and usually pay full in cash. What does “cash” mean, you ask?
Traditional house purchases usually require financing approval from a lender. That process has to include time for mortgage underwriting (verifying your information and the property), property inspection, and appraisal. Unfortunately, we are hearing from local Edmonton agents, that banks are being quite strict on their lending policies in 2021, so many would-be buyers are not qualifying. You can imagine how frustrating that must be because you have to go through the same process all over again!
Inspections And Repairs
How does selling your Edmonton house as-is sound to you? NO repairs, NO cleaning, NO haggling over what has to be repaired and who pays for it. Some Edmonton home buyers, like SUNRISE HOME BUYERS will not typically require an inspection, which makes it a truly as-is transaction. And even if they do complete an inspection, it will only be to determine the extent of any work they plan to do.
Contrast this with selling using a real estate agent. The buyer’s agent will almost always order an inspection of the property. What does that mean for you? Well if you are hiring someone for over $500, you would expect that they would save you at least that much right? So its likely they will find several things ‘wrong’ with the property and request you to fix it out of pocket before the transaction completes. (Please don’t misread us. We know many reputable home inspectors and it’s a wise idea to hire one, we just want you to be aware of how the process plays out)
Take Some Action
As you can see, there are a many situations to consider when preparing to sell your Edmonton house fast. At SUNRISE HOME BUYERS, we are happy to have a conversation with you to decide whether we are a good fit for each other. There will be NO pressure and NO obligation from us. Why not reach out to us? We can decide together which avenue would work best for you.
If you’d like to learn more tips and suggestions as to how you might sell your house fast in Edmonton , check out some of our other posts such as, How We Buy Houses In Edmonton, Calgary and In Between OR 5 Ways A Direct Sale of Your Edmonton Home Will Save You Money! In these two blog posts we share additional ideas on how to sell an Edmonton home quickly and also more about our problem property buying process.