The Cost Of Selling Your Home The Traditional Way...
When you sell your home, going the traditional route, you may discover additional costs on top of the standard 5-6% broker fees.
Most real estate agents will not fully disclose the hidden costs associated with selling a home.
Those hidden costs can look something like the following:
Closing costs: Can add upto 3% of sale price to cover title insurance, escrow fees, HOA transfer fess and other legal fees depending on your state.
Repair Costs: Buyers may want a discount for repairs 5-15% or more.
Staging Costs: An additional 1% of the sale price.
Seller Concessions: Upto 2% to cover inspections, transfer fees and taxes.
When sellers are in a bind, they don't have the luxury or the time to allow a realtor to take their sweet time after listing the home. Most brokers do just that, convince the seller... to list it for unmarketable prices. They get the listing contract, then they go through the motions of marketing the home. When in reality the buyer's agents are the ones doing most of actual selling.
Buyers are not willing to buy a property for more than it's worth... unless, they are forced by other buyers to drive the price higher. This usually happens during a seller's market. Which can pose a problem for the buyer at the end of the accelerating market, when the property values are driven back down to earth.
Let's get back on topic... Most sellers may not have the option of selling below the market price. This occurs when they have little or no equity in the home. When the broker/agent lists such overpriced properties. The homeowner will be waiting awhile before they actually get a fair offer. If they don't get a fair offer, then, they will be under great pressure to reduce the price to get the buyers attention.
In the end, the 20 to 40 day window to sell, have passed and the buyers will question why the house is still on the market at a reduced price. Leaving the homeowner upset and the listing broker/agent getting a termination letter.
The homeowner can only hope for a miracle. In most cases, the seller will end up lowering their prices more than once. By then the buyers have moved on to more fair priced homes.
Buyers see clearly at the top of each listing, that it's been on the market for over 60 days or more... and make lowers offers that can't be accepted by the seller. Leading to the home expiring unsold.
HAP can assist home sellers find a way out without the traditional hassles.
There are buyers and experienced investors who are eager to buy homes in unique situations. When these sellers understand the basics of the creative solution available, it makes sense immediately.
The alternative methods can look like the following...
No open house
Flexible solutions customized for each seller's needs
Immediate debt relief
Prevent foreclosure from showing up on their credit report for 7 years
Other financial assistance and solutions for the homeowner