40. Exploring All of Your Options When Selling Your House in Bloomington MN

Cash for your house in Bloomington

It’s been said that selling your home can be one of the most stressful major life events one may experience. However, when you’re under duress and need to sell quickly, this can add even more strain to an already difficult situation. Whether it’s a painful divorce, a family home on the brink of foreclosure, or ( in the worst of cases) the lost of a dear loved one, situations like these may arise were your only hope becomes to sell your house fast for a decent sale price. If you find yourself facing any of these situations, we are here to help you. We pay Cash, accept houses “as-is” (meaning in any condition), and are prepared to close in as little as 7 days. Reach out to us here at FastPath Home Buyers for a fast Sale

In this blog post, we will explore some of your best options when selling your house in Bloomington. 

Exploring All of Your Options When Selling Your House in Bloomington

Listing Agent

Let’s explore the traditional method. This is when you sell your house in Bloomington with a professional real estate agent. This can be a good choice because it will allow you to get the full retail price for your house. In some cases, your agent may even be able to get you offers above you asking price.

However, market conditions can impact your asking price. Due to the high volumes of home sale leads that are flooding the market at present, home sellers are currently facing intense competition. As a result, you will have to ensure that your house is priced more attractively ( meaning that you will have to lower your asking prices in order to attract buyers).

In addition, agents are paid based on a percentage of the sale price. This commission, along side any other possible charges and added fees they may require from you during the sale process, will take out a significant portion from your sale balance.

These additional fee may include: a home repair allowance that will be required as you prepare your house for showings, charges associated with home inspections as well as charges associated with professional photographers for advertising.
Sadly, after all of this, you could end up with a buyer that is unable to qualify for a mortgage or receive a loan from a bank; they might have to drop their offer all together. Nothing is certain when you opt to sell your house through a real estate agent.

Cash Offers

If you do not have the time or resources that are need to go via the real estate agent route when trying to sell your Bloomington house, Professional local home buying companies ( Like our very own here at FastPath Home Buyers) are your best option. Because professional buyers usually offer cash, you can expect a quick closing on your house in Bloomington. The sale is usually as-is, which speeds the process up even further, saving you both time and effort. This also removes any costs associated with repairing your house, since Professional home buying firms will accept your home in any condition.

Professional buyers are taking higher risks, offer faster cash sales, and usually pay the closing costs. For these reasons, their offers are usually lower than properties sold as FSBO or listed on the MLS. Regrettably, there are less than honest buyers who may try to take advantage of the time or financial constraints you reveal to them, so research carefully before you accept a local companies offer. At FastPath Home Buyers, we are dedicated to making offers to homeowners that are fair and well thought out. 

For Sale By Owner

Selling a house in Bloomington on your own could be an appealing option for some. Professionals, such as real estate agents or auctioneers, charge fees for their services, cutting into your profits. Should you be experienced regarding legal issues where real estate advertisements and transactions are involved, you can save a great deal of money with the “ Do it yourself” approach. However, it can be extremely costly and legally devastating to those that are not as knowledgeable. If you make an error with how you handle any of the aspects of your sale with the buyer, this could result in you accepting unreasonable offers because of inexperience. Or worse!

Short Sale

Depending on the circumstances you find yourself in, you may be able to negotiate a short sale with your lender. You will want to note that this is a very slow-moving process; it will mean that the lender has agreed to allow a sale for less than the remaining debt on the loan. 

Auction

Avoiding the headaches of showing your house is one of the favorable aspects of auctions. Additionally, these properties close quickly, selling as-is, so you won’t need to continue to pour time and money into repairs and upkeep for your house in Bloomington.

However, you should bare in mind that the usual fee for their service is a rather high 10 percent of the final purchase price. Because most auctions charge their fees to the buyer, lower bids are likely to be made in an attempt on the buyer’s part to pay a lower fee. Make sure you’re aware ahead of time if you’ll be responsible for the auctioneers fee, which could takes more away from your bottom line.
You should also remain aware that the sale of your property at auction isn’t guaranteed. Due to low attendance or the fact that several properties are usually auctioned off at the same time, your house may receive a lowered bid, if it receives a bid at all.

We’re happy to further explore all of the options for getting started now on selling your house in Bloomington. Just call FastPath Home Buyers today at (612) 351-2384 or send us a message to learn more!