When considering a traditional listing with a real estate agent, it’s important to take into account the various costs that can eat away at your profits. Here are five expenses you need to keep in mind when listing your house in Memphis:
- Real estate commissions: Real estate agents typically charge a commission of around 6% of the home’s sale price, which will be deducted from your profits at closing.
- Repairs: Buyers may request repairs or offer a lower price to cover the cost of repairs needed in the home. Making these repairs can be expensive and time-consuming.
- Holding costs: While your home is on the market, you’ll still be responsible for paying for utilities, insurance, property taxes, and other expenses associated with owning the property.
- Professional fees: You may need to hire professionals such as inspectors, appraisers, and photographers, which can add up quickly.
- Staging: To make your home more attractive to buyers, you may need to hire a professional stager or rent furniture, which can be an additional expense.
By keeping these costs in mind, you can make a more informed decision about whether a traditional listing is the best option for you. Alternatively, selling directly to a professional investor like those at Memphis Home Buyers can help you avoid these expenses and sell your home quickly and hassle-free.
Holding Costs
When listing your house in Memphis, it’s important to be aware of the holding costs that can eat away at your profits. These costs include monthly fees to hold and maintain the property, as well as carrying out ownership responsibilities while it’s on the market. In addition, a real estate agent can’t provide you with a guaranteed closing date. However, a direct buyer like Memphis Home Buyers has the cash backing to offer you a flexible closing date that works for you, as well as a guarantee to close on that date. This can save you money on holding costs and give you the peace of mind of knowing when you can move on from your property. With a direct sale, you can avoid the uncertainty and costs associated with a traditional listing and sell your property quickly and efficiently.
Professional Service Providers
When listing your house in Memphis, you may be faced with a long list of professionals you need to hire, from home inspectors and appraisers to professional photographers and drone pilots for virtual tours. These expenses can quickly add up and become a significant burden on your time and budget. However, by making a direct sale to professional investors like Memphis Home Buyers, you can avoid these costs and streamline the selling process. Our team of experts will handle all aspects of the transaction, from the initial offer to the final closing, without the need for you to hire additional professionals. This can save you time, money, and stress, allowing you to move on from your property quickly and efficiently. With a direct sale, you can focus on your other priorities while leaving the details to us.
Professional Staging Expenses
When listing your house in Memphis, you may also need to consider the cost of professional stagers, who can help to increase the final sales price of your home. This process involves renting storage space for your items, including furniture, and redecorating your home with rental furniture during the listing period, all at your expense. While this practice has become common with top agents, it can be costly and time-consuming. However, by selling directly to a professional investor like Memphis Home Buyers, you can avoid the listing process entirely and walk straight to the closing table for your cash, usually in just a few weeks. Our team will handle everything, from the offer to the final closing, without the need for you to invest in costly staging or other expenses. This can save you time and money, allowing you to move on from your property quickly and efficiently.
Commissions
Real estate commissions run around six percent of the home’s selling price when listing your house in Memphis and will come off the profits at closing. Broker fees may also be associated with working with agents. However, you won’t pay any commissions if you make a direct sale to a professional investor like those at Memphis Home Buyers, and there are no hidden fees in our uncomplicated contracts.
Improvements
Making repairs is an expense that can significantly impact your profits when listing your house in Memphis. Buyers may request a deduction in your selling price to cover the costs of repairs they’ll need to make, which can be substantial. Alternatively, when selling your home directly to a professional investor like those at Memphis Home Buyers, you can skip the repair costs entirely. We buy homes as-is, so you won’t need to worry about passing a home inspection or making costly repairs.
Ready to learn more about how a direct sale to Memphis Home Buyers may be the solution you seek? Let a direct buyer at Memphis Home Buyers compare how much you’d profit from a listing to our offer, which you’ll agree is fair because we’re transparent with our numbers. Talk to a direct buyer at Memphis Home Buyers who will help you understand everything you need to know when listing your house in Memphis without obligation. At Memphis Home Buyers, we stop and listen. Contact Memphis Home Buyers at (901) 828-8419.