Selling your house can be a big deal. When hiring an agent, the process will likely take much longer than a direct sale, and can also end up costing you more in the long run! Keep reading to see how the time it takes to sell will affect you financially.
While there is no real way to determine how long it will actually take to sell your house when listing with an agent, in the current market it typically takes three to six months to sell IF your house is in good shape and priced properly. In our latest post, we will also look at the common things that can cause delays.
If You List with an Agent on the MLS…
Getting It Ready For The Market
If you decide to list your house, you will likely need some time to get it ready for sale. You’ll want to clean up inside & out, remove personal belongings, make repairs and possibly stage the house for showings. If you have bright or “unique” paint colors, consider painting over them with a neutral gray or beige color that will appeal to more buyers.
Finding The Right Agent
Choosing an agent can take some time as well. You aren’t going to want to work with the first agent you meet. Instead, you will likely do some research, talk to friends and family who have recently sold, get some referrals, and speak with a few agents before deciding who to hire.
Waiting For A Buyer
Once the house is listed, you are at the mercy of the market. There is no guarantee you will find a buyer right away or that you will get the price you are asking for. Your property could sit on the MLS for months, only to receive offers lower than you had expected. You never know how long this part of the process will take, which makes planning ahead difficult. Higher priced homes and those that need updates and/or repairs will take longer to sell. In Louisville most houses priced over $300k are taking longer to sell than those priced between $100k to $200k.
The Inspection Process
Once an offer has been made, your buyer’s lender will require an inspection and appraisal (if they’re not paying with cash). If the house doesn’t appraise for what they are lending, the loan won’t be funded. If there are problems with the property you will need to either make additional repairs or negotiate the price lower with your buyers. When pricing your home, be sure to prepare for this step. The value of your home can change greatly, if problems arise during the inspection. Some sellers even opt to pay for an inspection themselves before putting it in the market, just so they know there won’t be any surprises after an offer has been made.
The amount of time escrow can take will vary depending on the agreements made between the buyer and the seller. The buyer may ask for repairs before signing off on contingencies and the lenders may take some time to fund the loan. Typically escrow takes 2-4+ weeks.
Once the escrow process is complete, the buyer and seller will need to arrange a mutually agreed upon date to sign the paperwork. You will meet at the title company or attorney’s office, review all paperwork and finally sign everything needed.
When You Sell Directly to Us…
Get An Offer
When you sell directly to Louisville House Buyers, you will get an offer within 24 hours of our visit. It is then up to you to decide if it is the right choice for you. We understand you might need some time to think or run the numbers. We will never pressure you into a sale.
If you choose to accept our offer, the closing can take place in a matter of days. With a direct sale to us, you will avoid all costs of listing (repairs, commissions, closing costs, etc.) and be able to plan ahead by knowing exactly when the house will close. You can even choose the closing day and time! For many properties in Louisville, a direct sale is a faster and more cost-effective solution. You will not need to make repairs or hire an agent in order to sell. Before you decide to list, find out if a direct sale is right for you! There is never any commitment!