How Long Will It Take to Sell My House? How Much Will It Cost?

Comparing Traditional Sale, FSBO, & Selling Direct

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So, you need to sell, but you’re just not sure where to start.

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You probably have a whole slew of questions tumbling around in your head, and most of these probably center around two major factors: time and money.

You also know that there are three potential methods for selling your home:

Each method comes with unique benefits and challenges when it comes to time and money, and you will ultimately have to opt for what best suits your unique situation.

Via traditional market sale with a real estate agent

As For Sale By Owner [FSBO]

Selling direct for cash

Traditional Sale

A realtor will shoulder most of the work when it comes to selling your house, but you’ll need to weigh a number of factors before hiring one.

Time

  • Finding the right realtor. Getting referrals and doing your research takes time.
  • Realtors will organize inspections and assessments, but the timeframe will depend on their availability.
  • Repairs. Replacing a hardwood floor can add two weeks to the process.
  • Initial advertising period.
  • Home showings and open houses will be organized by the realtor.
  • Offers, counter offers, and negotiations can take days or even weeks.
  • Final sale proceedings and paperwork can take days to process.
  • Ultimately, no matter how good the realtor, your house will be subject to what is happening in the current market. It could sell in days or languish for months.

Money

  • Realtor commissions—typically 5-6% of the home’s sale price.
  • Repair costs to prepare house for sale. Most homeowners spend between $938 and $2442 to repaint their homes, while a new roof can cost more than $20,000.
  • No advertising costs.
  • No listing or processing fees.
  • Mortgage, utilities, insurance, and taxes are still your responsibility while the home sits on market.

While the national median for days on market was 49, with an additional 41 to close, how long it will take to sell your home can vary widely based on location, price, condition, and even luck. However, your realtor will do most of the legwork and you’ll know all the costs involved up front, which can allow you to plan accordingly.

FSBO

If you don’t want to pay realtor commissions are willing to put in your time and effort, For Sale By Owner may be the route for you. Consider the following before you decide to take on a home sale yourself:

Time

  • Inspections and assessments. A good inspection will take 2 hours, and you will need to find a reputable outfit.
  • Repairs. Based on the inspection results, you may be looking at major repairs that will be your responsibility to resolve.
  • Initial advertising period. Putting up signs, listing online and in local papers, and keeping current can be time intensive.
  • Open houses can take an entire day; appointments usually last 20-40 minutes, and you will need to organize these yourself.
  • Fielding buyer offers.
  • Counter offers and negotiation. Can take as long as 3 days to receive a counteroffer.
  • Final sale proceedings and paperwork. It’ll be up to you to make sure you don’t miss anything.

Money

  • Advertising costs can range from free on certain websites to advertisements in local papers.
  • Repair costs. Depending on the extent of the damage, you could be looking at thousands of dollars.
  • Listing and processing fees. $299-499 to list on MLS.
  • Mortgage, utilities, insurance, taxes while home sits on market.
  • No realtor fees.

While selling direct to the buyer cuts out the middleman and saves you a realtor’s fees, it also puts responsibility for the project entirely in your hands. You must advertise, manage the process, and pay all the costs out of your own pocket. You may need to take time off work, and when it comes to paperwork, all liability will be on you.

Sell Direct

Time

  • No advertising.
  • No open houses or appointments.
  • Just one visit to assess the property.
  • Expect a cash offer within 24 hours.
  • You choose how fast you want to close. The fastest sale can take less than 48 hours.

Money

  • No advertising costs.
  • No repair costs.
  • No listing or processing fees.
  • No realtor fees.
  • No paying mortgage, utilities, insurance, or taxes while home sits.
  • Cash offer for less than market value

While you won’t receive market value for your home, you’ll cut way back on your cost-to-sell, and save a significant amount of time by selling your house direct. If you are in a difficult life situation and time is of the essence, this may be the best option.

Making the Decision

Deciding how to sell your house is a balancing act based on your unique circumstances and preferences. If you’ve got time to wait but can’t fit the legwork in your schedule, a realtor may work best. If you’re looking for the absolute best price and you’ve got the time and energy to make it happen, listing as FSBO may be perfect for you. But if time is not on your side or you’re facing a difficult financial situation, selling your house direct for cash may be the best solution.

If you decide that a cash sale is the option for you, Sell Your House Direct is on-hand to buy your property directly. Within 24 hours of contacting us, we’ll value your property and make a cash offer, no matter the condition of the house. Accept, and we’ll complete the transaction on the date that suits you, providing you instantly with the cash you need to go forward.

Get a Cash Offer Today

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