Many homeowners are only familiar with the traditional way to sell a house through a realtor. But trends are changing as many people prefer non-conventional methods like cash home sales to sell a house fast in St. Louis, MO. This change is partly a consequence of the disadvantages sellers face while taking the traditional route. Some of the disadvantages are discussed here.
Some homes sell quickly, while others may stay on the market. Sometimes, you will have to wait for the creditor to approve the buyer’s mortgage, which may hold up the process even more. The traditional method has no fixed time to complete the transaction. Many people looking for a quick sale are going to cash home buyers in St. Louis, MO.
Renovation and Repairs
Selling to a traditional buyer through a real estate agent involves renovations and repairs. Depending on the age and condition of your house in St. Louis, the price for renovations can vary. However, many people cannot afford these renovations, so they have reservations about undertaking home improvement projects. Cash home buyers purchase houses as-is to eliminate this concern.
Prepping and Staging the House
These processes are among the most dreaded by homeowners who have decided to sell their homes in St. Louis. Most homeowners skip the traditional route to escape the hassles of staging the house before the sale. Prepping and staging the house involves a lot of effort if you do it yourself. However, if you hire professionals to stage your home, it can be expensive.
Showings are tedious and can affect your schedule immensely. Not only do you have to open your house to strangers, but you will also have to accommodate their schedules. Sometimes you may have multiple showings in a day, which can be exhausting. With a non-traditional method of sale, you will not have to worry about showings as it only requires one or two viewings.
Real Estate Agent Commission and Other Hidden Costs
A traditional sale involves many expenses which may seem unaffordable to the homeowner. One of the expenses is the real estate agent commission which is an estimated 6% of the selling price. Besides this expense, there are other hidden costs like transfer fees, property tax, and closing costs.