While iBuyers may get the job done, they often lack the personal touch of a local buyer. On the other hand, real estate agents can provide that personal touch but at a significant cost. However, if you’re looking to sell your property in Minnesota, look no further than Matt Buys Houses MN. As your neighbors, we understand the local market and can offer you a great price for your property. We will guide you through the entire process, making it quick, easy, and stress-free. With Matt Buys Houses MN, you can rest assured that you’re in good hands.
iBuyers
iBuyers are real estate companies that leverage technology platforms to directly buy and sell properties with homeowners and buyers. While their streamlined processes may appear convenient, sellers often feel unheard due to the companies’ large-scale operations and lack of local presence. iBuyers typically seek properties in good condition with minimal or no repairs required, and if a property does require repairs, they may offer a lower price or require the seller to make repairs before closing to minimize their risk. These companies prioritize high volume over high profit margins and often operate with a standard approach, which may not take into account individual needs or concerns. Unfortunately, working with an iBuyer can be impersonal and may result in a lower sale price for your property.
Using a Real Estate Agent
While using a real estate agent to sell your house may seem like a logical choice, it’s important to consider the additional costs that can come along with it. In addition to the commission fee that the agent receives based on the sale price of your property, there may be other fees and expenses that you’ll need to cover. For instance, the buyer’s agent will almost always order an inspection of your property, and if they find any issues with the structure, you may be required to pay for the repairs out of your own pocket before the sale can close.
Selling your house through an agent can also be a time-consuming and stressful process. You may receive calls at inconvenient times, such as during dinner, asking if you’re available to show your house. And, you’ll need to make sure that your house is spotless every day before heading to work, just in case there’s a showing while you’re gone.
Moreover, traditional house purchases often require various qualifications from banks, lengthy mortgage underwriting time, and property inspections, and even after all of these steps, the buyer may still not qualify for a loan. This can prolong the selling process, causing frustration and uncertainty for the seller.
While real estate agents can provide valuable guidance and support during the selling process, it’s important to weigh the potential drawbacks and expenses associated with this approach.
Local Buyers
Local buyers typically do not charge commission or transaction fees, and if they do, it is extremely low in comparison. By avoiding a real estate agent, there will be no commissions paid to a buyer’s or seller’s agent. That means potentially thousands of dollars in savings! Local buyers that do not use real estate agents are usually investors. Working with these buyers will have aspects of iBuyers and buyers with real estate agents as well. They tend to make all-cash offers with quick acceptance time frames but have inspection tendencies like local buyers that work with real estate agents. They will most likely hire an inspector and request a price reduction for repairs needed. Some investors may need some time to inspect the property or to secure financing. The local buyers will tend to close quickly since they are not waiting for financing. Real estate investors and other direct house buyers typically have a network of other house buyers, so if your property doesn’t fit their portfolio, then it may fit one of their colleagues’ portfolios. Either way, this means very limited waiting time for an offer. Also, when you sell your house in Minnesota, Minnesota to house buyers, they will typically close faster than traditional house buyers, and usually pay full in cash.
By selling your house in Minnesota, Minnesota to us at Matt Buys Houses MN, you will not have to worry about wasting your valuable time or going through a roller coaster of emotions. As local buyers, we have time to stop and listen to your individual needs.