You want to sell your house in Connecticut but are not sure if you should list it with an agent or sell it to a home cash buyer. We can help make a decision!
Many investors will try to convince you not to list it with an agent. They will come up with a series of reasons why you should not list it. Although there are indeed disadvantages to listing it with an agent, there are also benefits, much like there are benefits and disadvantages selling your house in Connecticut fast for cash to a cash buyer.
Like most of the answers to the most interesting questions out there, our answer is, “it depends on your situation”. Although this may not be a helpful answer, it will make sense to you after reading this article.
To find out if it is indeed better for you to list it vs cash it, let’s first dive into why anyone would list their house. The main reason why people list their house is because often people do not know they have other options. If you have a house for sale in Connecticut, you have options selling your CT house.
Another reason most people list their house is because they want market value for their Connecticut home. However, often the thought process ends there. Big mistake!
Let’s go deeper. To get top dollar for your house for sale in Connecticut, your house needs to be in (near) perfect condition. Not only do you need to fix everything that needs fixing, even if nothing needs to be repaired, you still would need to bring the house up to date. No one will pay market value for a house when the kitchen and bathrooms are still 80’s or 90’s hip!
Outdated kitchens, bathrooms, wallpaper, wall paneling, fixtures are an eyesore to buyers in the current market. Especially when all the other houses in the market are indeed updated. You will have a hard time selling your house for market value when the house next door is competitively priced and updated.
So when do you list it and when do you just cash out?
You now have 2 options.
1) Don’t bother with updates and just try to sell anyways, causing the house to linger on the market for months, years even. But then what is the point in the first place to list it with an agent if you are not planning to get market value for the house? You still have to pay closing costs and agent fees which digs into your profits selling your house with an agent. Furthermore, not doing the repairs will result in your house sitting on the market for extended periods of time.
On average your house is likely to stay on the market between 4 months to a year. During that time you still have responsibilities as the homeowner. You still need to pay insurance, taxes, utility bills, lawn care, maintenance, mortgage …
The longer the house is on the market, the less net profit you make because every month you have bills and fees to pay, that take away from your net profit.
2) Do the repairs and list it for market value. This is often what people choose thinking they are now going to get market value. But are they really?
To put it into perspective, lets illustrate using some numbers. If the cost to keep a house per month is $2000, and you are asking 110K for your house, while the house will be on the market for 8 months…
Assume the best offer you get is 100K. Then closing cost, agent fees, title searches and the house sitting on the market for 8 months and being required to make at least minimum repairs, could easily be 30K-40K.
So if you sold your house after 8 months for 100K, you would net about 70K after 8 months of the house sitting on the market (paying all bills).
If you had sold your house to a cash buyer from the start for 70K you would have pocketed the same without having to wait for 8 months (if the house even sells) the stress of people walking through the house, cost of repairs you have to make.
So now,… the question would be,…
Should you really list it with an agent for full market value, only to get 70% in of asking price…. due to all the bills that accumulate over the time it has been sitting on the market,…
or sell it now quick for cash at 70% market value without having to stress, wait, pay bills, having people constantly walk through the house and not having to pay agent fees and commissions…
You can now see why so many people make the educated decision to sell their house to cash buyers.
We recently bought a house in Manchester CT. A very nice lady just didn’t have the energy anymore to deal with tenants. Nor did she want to go through the hassles of listing, cleaning, making relairs, having countless of people walk the house demanding her to fix random things. So she found us on our We Buy Houses In Manchester CT website. We made an offer and she received the cash in a week. When being confronted with such situations one can clearly see that selling to a cash buyer is the better option.
She was very happy she found us. It was not a coincidence. We thrive on honesty and we are very popular in the entire Hartford County area, including Hartford, West Hartford, East Hartford and surrounding cities.
If you want to know all the pros and cons of selling your house with an agent, vs a cash buyer we would love for you to download our free eBook breaking it all down. We explain things with actual examples and numbers so you can clearly see the result. The link can be found here (scroll down)!
Find out when it is best to list it and when it is best to sell it for cash. Both options offer distinct advantages and disadvantages.
Feel free to call us at 203 529 4712 and we can go over your case personally and we can determine together what the better option is for you.
We Buy Houses Statewide CT, Including
Bridgeport CT | Bristol CT | Danbury CT | Glastonbury CT | GrotoN CT | Hamden CT | Meriden CT | Milford CT | New Britain CT | New Haven CT | North Haven CT | Norwalk CT | Norwich CT | Orange CT | Plainville CT | Rocky Hill CT | Shelton CT | Southington CT | Stamford CT | Stratford CT | Trumbull CT | Wallingford CT | Waterbury CT | Westport CT |