How to sell your house: KNOW your options

Selling your house is a significant decision, and understanding your options can help you make the best choice based on your needs, timeline, and financial goals. Below, we outline four common ways to sell your home and weigh the pros and cons of each option.

1. Retail Sale (Listed on MLS and Marketed by a Professional)

This is the traditional way of selling a home, where you list it with a real estate agent who markets your property to a broad audience through the Multiple Listing Service (MLS).

Pros:

• Highest Price Possible: This method ensures maximum exposure, which can drive the highest offers.

• Professional Marketing: A skilled agent knows how to present your home to attract buyers.

• Maximum Exposure: Listing on MLS ensures your home is seen by many potential buyers.

Cons:

• Showing Appointments: You need to accommodate potential buyers for home viewings.

• Open Houses: Hosting open houses can be disruptive.

• Home Staging: You may need to keep your home "show-ready" for an extended period.

2. Wholesale Sale (Selling to an Investor Buyer)

This method involves selling your home directly to a real estate investor, typically for cash or hard money.

Pros:

• Fast Sale: Investors often close quickly, ideal for those in a hurry.

• No Repairs Needed: Properties are usually sold "as-is," so no need for staging or repairs.

• Access to Multiple Buyers: Investors often have networks of buyers ready to make offers.

Cons:

• Limited Exposure: Since your home isn’t listed on MLS, it might not reach as many potential buyers.

3. Seller Financing (You Become the Bank)

In this option, you act as the lender, allowing the buyer to make monthly payments with interest.

Pros:

• Retail Price for Your Home: You can sell at market value or higher.

• Steady Income: Payments over time provide a consistent cash flow.

Cons:

• Mortgage Responsibility: Your current mortgage may remain in your name, posing some financial risk.

4. For Sale by Owner (FSBO)

Selling your house independently without a realtor can save on commission fees.

Pros:

• Save on Commission: No need to pay an agent’s commission.

Cons:

• Lower Traffic: Homes sold FSBO often receive less visibility, leading to fewer offers.

• Negotiation Challenges: Lack of experience could result in lower sale prices.

• Potential Legal Issues: Without expert guidance, you may encounter liability risks.

Which Option is Best for You?

The right choice depends on your priorities:

• If you want the highest price and don’t mind waiting, Retail Sale is ideal.

• If speed is your priority, consider Wholesale Sale or Seller Financing.

• If you’re confident in handling the process yourself, FSBO might work—but proceed with caution!

Need help navigating these options? Visit RealEstateBySarah.com or text/call (801) 390-2108 for expert advice tailored to your unique situation.

Selling your house doesn’t have to be overwhelming—choose the option that aligns with your goals and take the next step confidently!