We buy houses in Lowell with cash on a regular basis and have been doing so for a number of years. And in today’s blog post, we’d like to give you a quick look behind the scenes so that you can understand more about how you might benefit by selling a house fast for cash as opposed to using a Lowell real estate agent.
Most homeowners who want to sell their house in an alternative way are looking to save on the sky-high commissions that traditional real estate agents will charge. To give you a quick perspective on real estate commissions, most agents will charge you 6% of the final sale price of your home. For example, if you sell your house for $400,000 you will pay the real estate agent $24,000 in commissions before any money is returned back to you.
When you ready to sell your Lowell house, you may not be aware of the benefits you can gain by working with a professional buyer like Summit Buys Houses. It’s vital that you get all the knowledge you need when you’re selling your house independently to avoid any serious financial losses. As mentioned above, we always build “win-win” situations.
This begins when we visit you to look at your property and talk to you about what you hope to accomplish with the sale of your house. If your property is in good condition and you have the time to wait for the well-qualified retail buyer, we will tell you right up front that your best bet is to work with a real estate agent. And because of our extensive experience in the Lowell MA real estate market if you’re looking for recommendations, we can give you the names of the agents we know are top-notch and will do everything they can to sell your house for you.
On the other hand, if the circumstances of your sale would benefit from a quick all-cash offer, we will develop that all-cash offer for you. Keep in mind when we give you that offer there are no commissions and no hidden fees. So, in the example we used above if we offered you $400,000 to purchase your Lowell house there would be no commission costs and that entire $400,000 will be coming back to you at the completion of your property sale.
Another way you can save when selling to a professional buyer is by eliminating months of holding costs. This is a factor virtually all homeowners overlook when getting ready to sell their home. Every single month you will pay property taxes, homeowners’ insurance, utilities and maintenance while you wait for the sale of your house to be finalized. If you look at any of the bigger real estate home seller sites like Zillow or Redfin you will see that it takes an average of 4 to 6 months from the time you list your house for sale until it actually is sold and you walk away with the cash.
And when we create an offer for you not only do you save on real estate commissions, but you will eliminate all of those holding costs because we can close on a sale in as little as 10 days. This way you will get rid of 4-6 months of holding costs. This puts more money back in your own wallet when you sell your home to us!
How We Work With Repair and Cleaning Costs
When you decide to sell to us, you also skip the steps of repairing and updating your property. If your home is old enough to require any number of repairs most traditional buyers will want you to make those repairs prior to them purchasing your house. Depending on the condition of your property you could spend anywhere from $5000-$30,000 in repairs. Not to mention the stress and headaches of having contractors bid on the jobs and then making sure all the repairs are done correctly and on time. We buy your house as is and so you never have to worry about making repairs.
When you first call us to inquire about selling your property one of the first things we will do when we visit is evaluate the cost of any repairs and cleaning that are needed on your Lowell residence. Professional buyers like Summit Buys Houses will walk through the house with you and explain exactly what repairs would be required and how much we expect those repairs would cost. Many properties in Lowell were built as far back is 1880. It’s not uncommon to find a majority of houses that were built between 1920 and 1950 particularly in the older areas of the Highlands, the Acre and Centralville. If your house falls into this category, there could be hidden costs such as old plumbing outdated wiring or foundation problems. We will explain these factors and their costs because it’s important for you to understand exactly what you would need to disclose if you sell your house in the traditional way.
Time Can Be On Your Side
Even if you’re not a Rolling Stones fan time can be on your side if you sell your property to a professional homebuyer like some advice houses. The amount of time it takes from the moment you list your property all the way through the time you go to the closing table there are costs that you incurred. As mentioned above the longer it takes for your property to reach the closing table the more it cost you and the less you take away at the sale. We offer you all cash and as a result there are no middleman like banks or inspectors or appraisers.
As a result, we can typically close in 30 days with no problem. Some folks have asked us to close in 10 days and we have done that in some cases. The idea is we build a win-win situation that allows you to tell us when is the ideal time for your property to be sold. Working with a professional buyer once you’ve accepted an offer you can sit back and relax. There’s no headaches or stress and you can enjoy quality time with family and friends from the time you accept a cash offer until the actual sale of your house is completed at the closing table. of your property.
We hope you will contact us with any questions or concerns you have about your current situation. At Summit Buys Houses we are always more than happy to meet you, learn more about your situation and see if we can build a win-win situation. We want you to be happy with the offer we gave you because we want to purchase your property at a fair price so that you can move onto the next chapter in your life and we can acquire a house to renovate and rejuvenate. We sincerely hope will talk to you soon and walk through developing an offer to purchase your home in Lowell Massachusetts.