Selling your home in Los Angeles can feel like a stressful and daunting process, especially if you’re not familiar with the intricacies of the process of selling. With so many options available, it can be difficult to know which approach is best. In fact, most homeowners actually believe that the only option to sell a house in Los Angeles is to hire a real estate agent in order to get a listing posted on the MLS.
In terms of approach, one option that many Los Angeles homeowners are turning to is selling directly to a buyer — not to be confused with for sale by owner (FSBO) — rather than working with a real estate agent. In some cases removing the middleman will help you to save time and money.
Here are four ways that selling your house to a direct buyer can simplify the home-selling process.
1. No Need to Make Repairs… $0 Repair Costs
When you sell your Los Angeles property to a direct home buyer, you don’t have to worry about making any repairs or upgrades to your house before selling it. This is because direct buyers are typically looking for homes that need work and are willing to take on the necessary repairs themselves in an effort to lower the sale price. This can be a huge relief for homeowners who don’t have the time, money, or expertise to make the necessary repairs. Fair Sale Homes is able to make cost-effective repairs to homes, allowing us to offer you more money for your home!
On the other hand, when you work with a real estate agent in the Los Angeles area, they may advise you to make repairs and upgrades to your home before they will list it on the market. This can be a major inconvenience, as it can delay the selling process and cost you a significant amount of money. Some homeowners become frustrated with spending money on a property that they intend to sell, especially without any guarantee of a return.
Direct home buyers want you to save yourself the time and money. You don’t need to paint the house. You don’t need to mow the lawn. You don’t need to repair or upgrade the kitchen. Why? Because we already have plans to improve the house based on our own plans once you sell us the house.
2. Experience a Much Faster Closing Process When Working With a Direct Home Buyer
Another benefit of selling your home to a direct buyer in Los Angeles is the faster closing process you will likely experience. When you work with a direct buyer, you can often close the sale within a matter of weeks rather than months. This is because there are fewer parties involved in the transaction, which means there is less paperwork and fewer delays.
Which parties are eliminated from the process when you work with a direct buyer?
- Realtor – Typically, lists house on MLS and markets to attract buyers
- Potential buyers – Interested people who walkthrough the house, privately or publicly
- Home lenders – Loan professionals who vet and approve buyers for home loans
- Home appraisers – Professionals who estimate the value of a home, on behalf of lenders
- Home inspectors – Professionals who inspect homes, on behalf of potential buyers
When you work with Fair Sale Homes, you can take solace in knowing that we do not require standard bank financing to close a deal. We are able to buy and close right away as we have funds readily available. You the seller are saving time when you involve fewer parties. You are not spending time finding and choosing a real estate agent who will then turn and take the necessary time find buyers for you.
In the diagram below, you’re essentially removing steps 2 through 4, which are very time consuming and often times costely. These are three huge steps that are cut out by working with the direct buyer of your house who is already in front of you.
In contrast, when you work with a real estate agent, the closing process can take several months. This is because the agent must market your home, find potential buyers, and negotiate with them on your behalf. This can be a time-consuming process, and there is always the risk that the buyer will back out of the deal at the last minute. Buyer can back out because they simply changed their mind or because the mortgage lender who was going to fund the buyer’s purchase ends up changing their mind. Of course, there are exceptions to every rule, and you may experience a rare direct sale on the MLS, but overall, you can expect things to take longer when working with a Los Angeles real estate agent and a traditional buyer.
3. No Commissions or Fees… Huge Cost Savings
Typically, when you sell your home to a direct home buyer in Los Angeles, you don’t have to pay any commissions or fees because you’re not requiring an agent’s services. This can save you a significant amount of money, as real estate agents typically charge a commission of 5-6% of the sale price (which in all fairness they truly earn). This can add up to thousands of dollars, which can be a major financial burden for many homeowners who are expecting to receive more money from the sale of their homes.
For example, if you sell house house in Los Angeles for $600,000, the commissions subtracted before you receive your funds could total up to $30,000 to $36,000. In addition, when you work with a real estate agent, you may also have to pay other fees, such as marketing costs, staging costs, and closing costs. These fees can also add up quickly and can significantly reduce the amount of money you receive from the sale of your home.
Most home sellers focus on what sale price they desire and completely forget that sales commissions will eat into a huge chunk of their profit. We recommend home sellers in Los Angeles consider both sale price and factor in commissions and fees, as well as repairs and staging costs.
4. More Control Over the Sale
When you sell your home to a direct buyer like Fair Sale Homes, you’ll be able to have more control over the sale. You can ask for and receive flexibility because you are dealing directly with the buyer rather than through a third party. There is no middle man, so this means that you can likely work with the buyer on the terms of the sale, such as the closing date, sale price, and the condition of the house and property.
Ask for what you need that will create a stress free experience for your unique scenario. What if you are relocating and want to leave that old car that no longer runs or that out-of-tune piano that you have no use for? What if you don’t have the time to advertise and run a garage sale to tidy up the backyard? A direct home buyer will allow you to leave all those things in place and have a stress free home selling experience.
When you work with a Los Angeles area real estate agent, the agent will likely have preferences on vendors and agents to work with. This can be a disadvantage if you have specific requirements or preferences that you want to be met in the sale of your home. In addition, unless you have a real estate agent that finds you investors, its unlikely that you can leave your belongings or get away with not addressing repairs that their buyer or their mortgage lender requested. Real estate investors who buy homes home have set money aside to repair and renovate the house because that’s the business they operate. In contract, traditional buyers looking for a primary residence to live in often times are on a very tight budget and expect the seller to make all the repairs on the house.
Selling your home to a direct buyer can simplify the home-selling process in several ways. You don’t have to make repairs, the closing process is faster, you won’t have to pay any commissions or fees, and you have more control over the sale. If you’re considering selling your home in Los Angeles or the surrounding areas, it’s worth considering this option as a way to simplify the process and save money. Give Fair Sale Homes a call today to learn more about the process and what we can offer you! (626) 863-7006
WE BUY HOMES across cities Southern California. A sample of cities where we buy homes for cash: East Los Angeles, Lincoln Heights, Silver Lake, Atwater Village, Van Nuys, Northridge, Pacoima, Panorama City, Harbor City, and Wilmington. Also, we buy apartments in Los Angeles, CA. Whether you are experiencing home foreclosure, code violation, failed property sale, or simply have an unwanted property, we will work with you to find a solution.