Purchasing a home seemed daunting enough. Now you’re faced with the prospect of selling it; while maximizing the best return. If you’re tired of paying outrageous realtor fees, there’s a few steps you may want to consider.
Let’s face it. It’s time to move on. Perhaps you’ve already outgrown your home. Perhaps you’ve taken on a new job or going through a separation or worrying about how to stop foreclosure. Or maybe you just simply can’t afford to keep sinking money into your home. Ultimately, you’ve decided it’s time to move on.
The average realtor fee in the state of Utah is 6% of the final sale; half of which is shared with a buying agency who is charged with helping to find the right buyer. And while both can offer you a wide set of tools, resources and skills, the question is; who is the right buyer?
The problem is… you don’t know. But realtors do. And they’ve got thousands of other sellers to contend with all over Utah.
Frequently, they’ll suggest pricing strategies & home renovations in order to ensure a quick sale. But renovations can cost you thousands of dollars. And in a wildly changing real estate market, that’s still not a guarantee to a successful sale. Suddenly, those renovations and that 6% fee are starting to add up.
You need to get the best value out of your home. And you may not always have the money to renovate. If you’re looking to learn how to sell your house without a realtor, there’s a few options you may want to consider.
For Sale By Owner (FSBO)
For many, selling a home for free seems like an ideal alternative. You keep 100% of the sale. There’s no need to sift through seemingly endless realtor agencies and bank delays. And marketing is as simple as putting a FSBO sign in your front yard. From there you can even promote it to friends and family through social media networks like Facebook, LinkedIn, etc.
The fact is though—unless you’ve been selling property extensively for several years, you really don’t know just what you’re in for.
Successfully marketing your home requires more than just a sign and a few facebook posts. It requires time, effort, and research (that’s part of what you’re paying 6% to a realtor for.) Time, effort and research you just might not have.
Nor would you have the time and effort by neglecting those suggested renovations. A realtor recommends them for very specific reasons—chiefly, that they’re the highest selling point of your home. In fact… they’re going to make up the largest percentage of your property marketing investments.
What Documents Do I Need To Sell My Home Without An Agent?
Typically, the docs you need can vary by state to state. Ultimately, you need to ensure you have as much vital documentation of both the condition of the home as well as any deeds or titles you may sign—in addition to a legally binding residential sales contract which should be drawn up by a seasoned real estate attorney.
In the state of Utah, this can include:
- A property title or deed
- Third party financing addenda
- A Residential Property Disclosure form, attested to and signed by a licensed home inspector
- Home inspection certification
- Invoices of past renovations and repairs
- Property tax information
- Property title insurance documentation, legally attested to by a title company of a buyer’s choice
- A lead based paint warning agreement (as legally required by the EPA for homes constructed after 1978)
- Bank foreclosure documentation
- Authorization For Payoff Statement Requests
- Offer and counteroffer forms
Home Buying Services
Home buying services are becoming a fast and popular way to sell your home without an agent, mountains of paperwork or expensive attorney costs and inspection fees. They’re both legitimate and effective, and are frequently an ideal solution for homeowners facing threats of foreclosure, debt and unmanageable mortgage fees.
Because home buying services purchase directly from you (the seller), there are no additional broker fees, hassles or renovations needed. House buying services purchase properties “as is”—regardless of their location, how long they’ve been on the market or how badly they are in need of repair. Nor will you need to provide any extensive paperwork, other than your property deed or title; they’re equipped to handle most necessary contacts with legal entities, banks and title insurers.
Perhaps most convenient for homeowners who are facing immediate distress, home buying services make immediate offers based on the existing value of your home. This can alleviate the stress of countless hours of legal and financial fees. Some of them can speak to foreclosure and mortgage departments on your behalf to ensure the sale doesn’t impact your credit rating.
Whether you’re facing immediate legal and financial troubles or simply have a vacant property you want to get rid of as quickly and cleanly as possible, there’s no reason to be bogged down by realtor commissions—or endless research and attorney fees. Sometimes the question of finding the right resource is what they tell any real estate agent; knowing where to look.
We’ve been helping homeowners locally in Utah since 2009 sell properties fast for the best cash offer; and we’re prepared to give you the best offer today. Email us at gary at garybuyshouses.com or call 801-382-9199.