Are you thinking about selling your home to a direct buyer in Eugene? While the process can be quick and easy, there are several mistakes that homeowners can make that can derail a sale. In this blog post, we will go over the top 5 mistakes to avoid when selling your home to a direct buyer in Eugene.
What Selling to a Direct Buyer Means
When selling your home to a direct buyer, it is important to keep in mind that you are essentially selling your Eugene property to an investor. This means that the direct buyer will likely make a lower offer than a traditional buyer, but that is because the direct buyer is taking on all of the repairs and saving you from paying commissions and fees that are associated with an agent or on-market sale. However, the benefit of selling to a direct buyer is that the process is typically much faster and more streamlined than selling through a real estate agent. It can be a great option for homeowners dealing with foreclosure, distressed properties, an inherited property, tired of being a landlord or have bad tenants, or they simply need to sell on a tight timeline.
If you sell your house directly in Eugene, avoiding these few common mistakes will save you time and money…
Mistake #1: Not Researching the Direct Buyer
Before you sign any contracts or agreements, it is important to do your due diligence on the direct buyer. Look for reviews and testimonials from previous clients, and check for any red flags such as negative reviews or lawsuits. You can even reach out to them to ask for references of clients they have worked with in the past. You want to make sure that you are dealing with a reputable company that has a proven track record of successful home purchases. It’s important that you aren’t being pressured or told that they are the only one’s that can help you, and make sure that you are being heard when it comes to your needs and why you are selling the property. There are many direct buyers out there, but not all of them will operate with the same honesty, integrity, and transparency you need when selling your house.
Mistake #2: Not Getting a Fair Price for Your Home
One of the biggest mistakes Eugene homeowners make when selling their home to a direct buyer is accepting an offer that is well below market value. Some direct buyers will make lower offers than traditional buyers, but that doesn’t mean you have to accept a price that is significantly below what your home is worth. Make sure you are working with a reputable company like Property Bridge who isn’t here to lowball you.
Mistake #3: Not Understanding the Process
Selling your home to a direct buyer is different than selling through a Eugene real estate agent. It is important to understand the process and what to expect. Direct buyers typically make cash offers and can close quickly, but there are still inspections and paperwork that need to be completed. Make sure you understand the timeline and what is expected of you as the seller. You will need to be able to respond to the title company and allow access to the property once the sales agreement is signed and in place to make sure that the timeline can be met. Working with a buyer like Property Bridge will allow you to sell as quickly as needed, but you must work with all parties involved once the process starts.
Mistake #4: Not Disclosing All Issues with the Home
When selling your home, it is important to disclose any issues or problems with the property. This includes things like leaks, mold, or structural issues. Failure to disclose these issues can lead to legal troubles down the line. Be upfront about any issues and make sure they are addressed with the buyer before closing. This is also true for anything that may come up financially during the escrow process. If there are liens, back taxes, debts or other parties attached to the title it is helpful to know prior to starting the transfer process. Although these things can typically be handled during escrow, it could affect how much money you can expect at closing, but no matter how if sell traditionally or directly those things will have to be cleared. At Property Bridge, we buy houses as-is, so repairs and defects are not a problem
Mistake #5: Not Having a Plan
While selling your home to a direct buyer can be a quick and easy process, you’ll need to make sure that you have your next steps in place once the sale closes. If you’re selling your home and it’s your main residence you will need to know where you’re moving. If you don’t have something lined up, it is crucial that you discuss that with the buyer because it is often the case that an investor will be able to work with you or assist you in finding a new place to live. Finding a new home, packing, and moving can all take a significant amount of time, so make sure you are prepared and can meet the timeline for closing.
Why Choose a Direct Buyer?
A major benefit of selling to a direct buyer is that you can often avoid many of the fees associated with selling a home. When selling through a real estate agent, you typically have to pay a commission fee of around 6% of the sale price. This can add up to tens of thousands of dollars, especially if you are selling a high-value home. When selling to a direct buyer, you can often avoid these fees and keep more money in your pocket.
Selling your home to a direct buyer can be a great option for homeowners who want to avoid the traditional selling process. However, it is important to avoid these common mistakes to ensure a smooth sale. Do your research, get a fair price, understand the process, disclose all issues, and have a plan in place for after you sell. By following these tips, you can sell your home with confidence and ease.
Ready to sell your house in Eugene? Find out how Property Bridge can help! (541) 833-0304. Talking with us and receiving an offer is free and there is no obligation to sell, let us see if we can help you.