Selling your house can be a daunting task, especially if you’re trying to receive your money fast. Below are three ways you can sell your house quickly for cash in Texas. Below, we lay out three ways to approach the sale of your home, each of them with their own pros and cons. To find out which one is best for you, you’ll need to figure out your timeline and desired income from the sale, as each of the options provide different results in different time frames.
1. Sell Your House To A Real Estate Investor or Wholesaler (Fastest Route)
If you’re looking to sell your house fast, an investor or wholesaler is your quickest route. Most times you can sell your house in days, not months, which is perfect if you’re selling a home that you inherited or the sale of your home will help out with the cost of an unexpected life event like divorce, relocation, or mortgage issues.
Costs Associated With Selling Your House To An Investor
While selling your house to an investor or wholesaler doesn’t require any commission fees or closing costs like traditional real estate dealings, you typically won’t sell your home for as much since investors won’t pay market value for your property. If your home is in need of repairs and won’t command as much as you’d like in a traditional sale or you don’t want to sink the money into repair costs, investors are a great option for you. As for the speed of the sale, most real estate investors are able to send a cash offer in under a day and close on the sale of the house in as little as a week.
2. Work With A Local Real Estate Agent or Broker (Slower Route)
If you know you want to try and command as much money for your house as possible, a local real estate agent is your best bet. With this comes traditional sales times (upwards of 6 months) and added fees like seller agent fees and closing costs. If you choose to go this route, you’ll want to contact a real estate agent in your area to help you determine the value of your home. This is typically done by comparing your home to others that are being sold or have recently sold. You’ll also sign an agreement that says they will exclusively represent and sell your property.
Costs Associated With Selling Your House With An Agent
Typically, your agent will collect 3% of the total purchase price of your house, while the buyer’s agent also collects an additional 3%. As an example, if your house sells for $250,000, you’ll pay $15,000 in fees to the agents. You may also incur closing costs that you share with the buyer, and if you made any improvements to your property, you’ll want to deduct that from the total amount received, as well.
3. Sell Your House Yourself (Slowest Route)
If time is on your side and you hate the idea of dealing with agent fees, selling your house yourself is a good option. When you sell your home yourself, you’ll have full control over the process and value you’d like to receive for your house. Sometimes this can shoot you in the foot though, as you may feel your home is worth more than it really is. The best route to figuring out the true value of your home is to pay for a professional appraisal.
Costs Associated With Selling Your House Yourself
Since you’re skipping the agent process, you’re saving yourself 3% of the sales price, but you should definitely consider paying a buyer’s agent fee to entice agents to show their clients your home. You’ll also incur closing costs, marketing costs, and repairs (if applicable).