Before you pull the trigger, you should make sure that you are well informed. Here are 6 facts about selling your house in Saint Paul, that an agent will not tell you. Before you reach out to a real estate agent, you should make sure that you have done your research, in order to have a thorough understanding about what the listing process and the traditional real estate market in Saint Paul MN truly entail. This will prevent you from looking back in regret as you battle with you agent at some point in the future, over things they will say they assumed you knew.
While you may consider sitting down at your dinner table to be highly valuable family time, the dinner hour ( or during your weekend) is likely the prime time potential buyers will request for showings with their agents. While no-one likes to have strangers walking through their private space and looking over all their personal belongings, it is your real estate agent’s job to make certain that as many strangers as possible do exactly this. This can become especially irritating when buyers make last minute calls or book times that are perfect for them, but a total inconvenience for you. If you choose to list with an agent, you must mentally prepare yourself for this.
Likewise, you’ll need to keep your house in picture-perfect condition at all times. Be ready to plan your life around showings or open houses. This is one detail about selling your house in Saint Paul that an agent will likely not tell you, before you hire them.
Show me the money!
Because the process is based upon the completion of inspections and appraisals ( not to mention other deadlines and hurdles that you’ll be jumping) closings can be delayed. It isn’t unusual for closings to take up 60 days, and quite possibly longer. These delays typically take place because buyers will need to wait for their mortgage loans to be approved, before they can close.
This is another fact about selling your house in Saint Paul that an agent will not tell you.
Days on the Market
Are we there yet?
While your real estate agent may be able to quote the average time period a house takes to sell on the open market, one thing they cannot tell you is just how many days it will take to sell your property. They can guess, but without having a realistic picture of the actual time it will take, the plans you start to make around your home sale may all be in vain. You may also find yourself responsible for two properties, if you are forced to move before the sale is completed. This is another piece of information about selling your house in Saint Paul that an agent will likely keep hidden.
The deal is off?
The bottom line is, your sale may fall through if a contingency isn’t met. Contingencies are provisions in the contract that must occur before the sales contract is fulfilled. They are quite common in traditional real estate exchanges. For instance, if your house doesn’t pass the inspection, or meet the purchase price in the appraisal, the buyer or their lender may renegotiate or even walk away from the deal. This is a fact that can be devastating to learn the hard way, about selling your house in Saint Paul that an agent will not tell you.
So you were under the mistaken impression that everything was fine?
Inspections are a necessary part of traditional listings. However, regrettably, they can also bring to light very expensive secrets. Depending on the nature of the previously unknown issue that would have been discovered during the inspection of your property, the expenditures required to repair or replace the problem could run into the thousands. This is yet another tidbit associated with selling your house in Saint Paul that an agent will not tell you. It will be your responsibility to complete any repairs required by the lender, or receive cost deductions on your sale price for each repair. Failure to complete the repairs, despite any lack of funds you may be facing, may even void the contract.
Slice of the Pie
It’s never cheap!
Commissions, fees, marketing, staging, storing belongings to decrease clutter, and closing costs. Your real estate agent will expect you to make changes aesthetically which could include updating or renovating. These added costs could run into the thousands. In addition to the cut real estate agents and their broker’s will take-off of the top in commissions, you’ll be responsible for paying all the marketing expenses, as well as hiring the digital photographer ( which might even include a drone pilot, for your online presence).
Along with these costs, you’ll be paying for staging. This will help you make your home appealing to a larger number of buyers, which has proven speed up sales and produce higher offers. This may require you to put excess belongings in storage until the home sells. Depending on your particular situation, you could also be responsible for the closing costs. All of this eats away at the profit you’re expecting. Carefully consider these facts that take away from your bottom line, when selling your house in Saint Paul that an agent will not tell you.
Intrusive, expensive, time-consuming, and offering no guarantees are facts about selling your house in Saint Paul that an agent will not tell you. FastPath Home Buyers saves you money, time, and provides you with a guaranteed and very quick closing date. These are just a few of the reasons why a direct sale to FastPath Home Buyers may be better for you. Send us a message or call (612) 351-2384 today to find out more!