Selling your house is a big job: you have to find the right agent, get the property market-ready, and invest a lot of money into repairs and updates. If you’re in the process of relocation, this task might take up too much of your time and money, and you may be wondering if selling your house to a traditional buyer is right for you. Here is a quick and easy list of pros and cons to selling your house to a traditional buyer so you can figure out the best selling method for relocation.
Pros of selling your house to a traditional buyer during relocation
Let’s start with the ways that selling your house to a traditional buyer can be beneficial. The traditional selling method is traditional because it works: the process of listing with a realtor and waiting for the best offer is often the best way for sellers and buyers to get the most out of the transaction.
1. Higher Selling Price
The best thing about selling to a traditional buyer is that it is the best way to get the highest selling price for your home, which can be attractive if you are facing the costly task of relocation. The reason that selling to a traditional buyer can present higher offers is because there is a lot of effort that goes into attracting these buyers: you will likely invest in home improvement to make the property more appealing, which increases the value of your home before selling. Additionally, if your local market is competitive, then you will likely get higher offers from prospective buyers because they may want to make sure they are not outbid. Overall, getting your home market-ready and listing is the best way to get the highest offers and to make the most of your home equity before relocation.
2. Professional Guidance
When committing to a traditional sale, you will likely commission a realtor to guide you through the process. Realtors provide an invaluable service to Georgia homeowners: their job is to handle the business side of buying and selling houses in order to make sure that sales close smoothly, fairly, and legitimately. They represent the interests of their client and handle the logistics of home selling, which includes responsibilities such as taking real estate photos of the property, posting and marketing the house listing in your area, arranging showings with potential buyers, and negotiating offers. Because it is their job to understand their local market and to use their professional experience and connections, they are well-equipped to handle these elements of a sale, which might be unfamiliar to the average Georgia seller. Having a realtor help you sell your house is a huge bonus during this process.
Cons to selling your house to a traditional buyer during relocation
While selling to a traditional buyer can be hugely beneficial, it is possible that you have different needs when selling your house during relocation. It’s important to be aware of the drawbacks of this selling method so you can face your selling experience with no surprises.
1. Getting Your Property Market-Ready
Even in a seller’s market like Georgia’s, you must make sure that your house is market ready before you list, which can be a time-consuming process. This involves simple work, like refreshing curb appeal, decluttering and depersonalizing, keeping the house clean, and possibly staging, but it also encompasses more complex jobs, such as making necessary repairs or updates, which can require monetary investments and even the work of professionals. Larger repairs like replacing HVAC units or handling plumbing and electrical issues can be heavy investments, and it may be time and money that you aren’t comfortable spending while you are focused on relocation.
2. Potential Closing Delays
Even after you have accepted an offer on your Georgia property, the final sale can still fall through. In Georgia, there is a window of about two months of legal limbo between accepting the offer and closing, and during this period the buyer can back out of the sale for a number of reasons, including a low appraisal or inspection/financing contingencies. During this time, it is possible that you spend another month renegotiating, or that the buyer backs out completely. If your relocation plans have a time limit, these delays could become a big problem for you.
3. Additional Fees and Commissions
When selling your house in Georgia, you will generally pay your listing agent a commission of 2-3% of the final selling price. However, realtors offer various rates, and because there is no regulation on realtor fees, commissions are often negotiable, but keep in mind that the rate you pay can impact your realtor’s work. Additionally, you will have to handle your portion of closing costs, which will be deducted from the home’s selling price and will usually cover attorney and title transfer fees. Because relocation can be such an expensive process, it is possible that these additional costs are too much, on top of the price of getting your home prepared to list and holding the property until closing.
4. Waiting Time
The biggest drawback of selling your house to a traditional buyer is that the process doesn’t guarantee that your property will sell immediately. Depending on the condition of your property and the climate of your local market, it can take months to close on your property. Even in Georgia’s balanced market, 52 days is the median for sellers to wait for offers. This does not account for the time it takes to find the right realtor, prepare the property to list, and close with the buyer. These additional steps can add 1-3 months to the selling process, depending on the condition of the house and the financing of the buyer. It is possible that you cannot afford these delays when you are selling your house during relocation.
Summary
No matter your situation, it’s important that you learn as much as possible for the different options available when selling your house during relocation. If you’re considering selling your house the traditional way, make sure you remain aware of both the pros and cons of that option so you can select the best way to have a stress-free sale and a hassle-free relocation.
Here’s How We Can Help!
If you are selling your house in Georgia during relocation, you can sell to We Buy Houses In West Georgia today. We make fair cash offers on local houses in the West Georgia area. When we buy your house, you don’t have to worry about the traditional delays of selling. Our buying process is designed to help Georgia homeowners sell burdensome properties fast.
- Don’t worry about making repairs, decluttering, or even cleaning
- Avoid commissioning a Georgia realtor to list your property
- Bypass paying closing costs or any additional fees
- Quickly collect the proceeds from the sale and move on
If you want to learn more about how we can help you sell your house during relocation, we invite you to visit our How It Works page. Here, we offer full transparency about our homebuying process, including details about exactly how we calculate our offers. You can also check out Our Company page to get to know our team, our credentials, and our experience. Fill out the form below to get a no-obligation cash offer started now!