Can I Sell My St. Louis House As-Is?
You may be wondering, Can I sell my house as-is? In a traditional sale, you may have difficulty selling your house without making any renovations or repairs. If you have a damaged house, realtors and potential buyers may avoid it in favor of a house that has been fixed up. However, just because you have a worn-out house does not mean that you can not sell your house as-is.
You can sell your house fast in St. Louis, Missouri by working with a local home buyer. A buyer can look at your property and make a fast cash offer based on the current condition of your house. You make no repairs or renovations. You don’t even have to prepare the house to show. Simply sell your house as-is and walk away with no strings attached.
Why Is It Hard to Sell My House As-Is?
Surprisingly the health of the real estate market has little to do with whether you sell your house as-is. Instead, it is the competition. The average buyer would rather purchase a house that is already in livable condition instead of buying the house and sinking more money into repairs and renovations after signing the initial mortgage.
Repairing a home today can cost between $1,000 and $50,000, depending on the project. Some of the most common home repairs include:
Air condition replacement
Can I Sell My House As-Is the Traditional Way?
With all the challenges of selling your house the traditional way, it is still possible to hire a realtor and list your house on the market. You may even get a reasonable price for the property. However, in addition to repair and renovations, you may also incur other expenses that eat into your profits. Plus, the process of selling a damaged house can be more complicated than selling your house to a local buyer.
You may have to sell your house at a reduced price just to unload the property. However, your realtor will still require their cut of the sale. On average, realtor commissions are six percent of the sale. Let’s say you sell your house for $100,000. You spent $15,000 in repairs to make the house sellable. The realtor takes another $6,000 off the top in commissions. You’ve spent $21,000 total just to move the property.
If repairs and realtor commissions aren’t enough, closing costs and fees will also eat into your profits. Closing costs can take five to ten percent of your profits. If you sell your property for $100,000, you could lose up to $10,000 on top of your other costs. Common closing costs include your mortgage balance, settlement fees, title search, municipal lien search, HOA estoppel, documentary stamp on the deed, or title insurance. In other words, a lot of entities are taking your money off the top.
Listing and Marketing
How much you pay for listing and marketing costs largely depends on the realtor you work with. Some realtors take on these expenses. Others pass them on to you. Regardless, you may have to pay for online listings, marketing collateral, ads, and showings. While not as expensive as repairs, these costs can add up to a few more hundred dollars in out-of-pocket expenses.
Long Selling Process
You could lose money on the sale simply by keeping the house on the market. The longer a house stays on the market, the more difficult it becomes to sell it. On average, it takes 60 to 90 days to sell a house in good condition. A damaged or outdated house can stay on the market indefinitely. Consequently, you lose money every month that you don’t sell it.
How to Sell Your House As-Is Fast
As you can see, selling your house as-is the traditional way is an uphill climb at best. What is the solution? Sell your house as-is for cash to a local home buyer in St. Louis, Missouri. You can unload your property quickly in just three easy steps.
Step 1: Contact a Local Home Buyer
The first step in selling your house as-is is to contact a local home buyer and schedule a quick walkthrough of the property. Don’t worry about renovations, repairs, or even cleaning the house. A local buyer will buy your house as-is.
Step 2: Get a Fair Cash Offer
Once you schedule a walkthrough, the buyer will assess the property. If they are interested in buying the house, they will make a fair cash offer. In most cases, the buyer will make an offer within 24 to 48 hours of the walkthrough.
Step 3: Get Paid Cash for Your House
If you accept the buyer’s offer, you will schedule a convenient closing date. Closing the sale is easy. Simply sign the paperwork and walk away with no strings attached. The buyer will pay all closing costs and other fees.
Sell Your House As-Is to Klamen Real Estate Group
Are you ready to sell your house as-is? If so, contact Klamen Real Estate Group. We buy houses as-is in St. Louis, Missouri. Call us today at 314-721-6800 or fill out the contact form to get a fast cash offer.