You probably know what a real estate agent is and maybe already have experiences that lead to beliefs about what they can do for you, as a seller. On the flip side, many sellers may not know what to expect when working with a professional home buyer in Detroit, MI. I can tell you that sellers can expect a professional home buyer to provide simple, stress-free transactions. Below are some pros and cons of selling your house to a direct buyer in Detroit.
Watch this video to learn more about the pros and cons of selling your house to a direct buyer in Detroit
Pro – Straightforward Closings
Direct buyers in Detroit, MI typically are able to close quicker than traditional home buyers, and usually pay full in cash. Home purchases the traditional way usually require qualifications from banks, mortgage underwriting time, property inspection time, and even after all of that, the buyer may not end up qualifying in the end. With direct buyers, there are no commissions paid to a buyer’s or seller’s agent which means thousands of dollars in savings. Direct buyers also will likely not charge any transaction fees; if they do, they are very low in comparison to the commission or closing costs you would have to pay during the traditional process. They are also able to provide mail-away closings which can be a blessing for out-of-state owners.
Again, easy, straightforward closings means you won’t have to pay any real estate commissions and we’re not going to represent you as a real estate agent; and we are going to buy your house directly.
Con – Below Market Offers
One of the biggest complaints that we notice sellers having about working with direct buyers in Detroit is that the offers are usually slightly below market, but this is for a good reason! The buyer is taking on a huge risk by purchasing your house as-is, and your home may have more damage than you initially realize!
You are selling direct to us. So you won’t have to pay for or make any repairs. This is one of the aspects we take into consideration when we make you such offers. On the flip side, you won’t have any holding costs because we will be purchasing very, very quickly. So, you are saving what you would normally spend on commissions and holding costs. Plus, we often pay all your closing costs as well. Please take that into consideration when receiving our offer.
Pro – Purchasing Homes As-Is
Now another pro as I mentioned before is no repairs. You don’t have to make any repairs to your house. Direct buyers in MI will usually purchase homes as-is. As the seller, this means you will not have to worry about making repairs before closing or any other additional expenses you weren’t planning on. There are some direct buyers that will waive the inspection in some circumstances which makes it a truly as-is transaction.
That’s one of the benefits of going with us as opposed to a buyer on the market. Many times, they are going to expect you to make repairs and expect the home to be in very good condition. With us, if the house needs repairs or if you need to make repairs, you don’t have to because we’ll buy it in as-is condition and we will make those repairs after closing on it.
Pro – Lower Risk Transactions
When you selling to a professional home buyer in Detroit, it is very straightforward. Good buyers will explain every step of the process and very often will have shortened, very clear contracts that are simple as-is purchase agreements. Also, often times our contracts are much shorter than typical home buyers. You will also have lessened exposure to legal risks. You do not have to worry about the buyer finding something you did not know you that you did not disclose or something else they do not like about the home or the neighborhood. With almost all traditional real estate contracts that are used through a real estate agent, there is often potential for the buyer to sue you if they feel they were not told all of the information, or if they think they were mislead on the facts of the house. When you sell to a direct buyer like Amaze Properties LLC, or any direct buyer in the Detroit area, we are very familiar with the risks going into it and are aware of the condition of the property, and are very willing to take on that risk.
Also, as mentioned before you won’t pay or make any repairs, so you don’t have to pay for those repairs. And because we buy it in as-is condition, it’s a lot lower risk.
Pro – No Showings
If you make the decision to use a professional home buyer in Detroit, MI, there is no need to worry about going through a roller coaster of emotions. As a benefit, you will not have to deal with showing your home to potential buyers because you aren’t selling through a real estate agent, you’re selling directly to us. You won’t have to deal with getting phone calls in the middle of dinner or having to allow someone to enter your home when least expected because your agent wants to show it right now! You will not need to worry about cleaning your home so it is spotless every day before heading to work, on the off chance that there is a showing while you are not home. You will not have to worry about maybe running into a buyer’s agent or the client or dealing with them grilling you on questions that you really do not have all the facts about and probably should not answer anyway. Plus you won’t have to deal with buyers arguing over which couch you are taking and what you are leaving or if you can leave your washing machine.
Pro – Tailored To You
We can offer different types of financing. If your house value is below the amount you owe and you just can’t afford to come to closing with funds; we can do a land contract or another type of seller financing to make it easier for you. We offer opportunities that other buyers just cannot.
Pro – Move Out Time
Direct buyers are buying for the investment aspect. They do not want to move into the house on closing day. We can offer convenient move-out time frames. For example: The close is complete and you still need a little bit of time to move to your new place, we can offer a couple of days or few weeks to allow you to move out. Most cash home buyers will allow a timeframe to move out after closing if you need to help you relocate at your own pace. This is extremely helpful, especially with such fast closing timeframes. Plus, you may not even have to clean the home when you leave. You can simply pack up your personal items and take the furniture you want to keep and leave the rest.
Again, these are some of the pros and cons of going with a cash buyer like us here in Metro Detroit. We can offer you the ability of selling your home to help you fit your situation and tailor it directly to you.