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TRADITIONAL HOME SALE PROGRAM IN HOUSTON, TX

There are many misconceptions about what the difference is between an as-is home offer and a traditional sale in any Houston, TX traditional home sale program. To help you see the differences between them, we decided to do an honest comparison between as-is cash offers and traditional real estate sale offers so you can easily sell your house in Houston, TX.

When considering our Houston, TX traditional home sale program, it’s important to understand what an as-is sale is. This is where the buyer and you agree to a fair price for your home. No cleanup, no repairs, and no hassle. As-is sales are very different than traditional sales. This is why it is important to compare the price differences in your offer when you sell your Houston, TX home. Let’s take a look at the points of sale for as-is homes and traditional retail sales to help you choose which option is best for your situation.

 

Selling Fees

There are many fees associated when you sell a house in Houston, TX, from closing costs to title transfers and even the cost of your realtor. Let’s examine our Houston traditional home sale program how these fees differ between offers.

Traditional sale

To transfer the title of your home to the new owner, you will need to hire a title company. The process of a traditional sale is more complex because your buyer has to take out a loan. You will need to pay title insurance and transfer taxes to your state/county, as well as a title closing fee. To complete the work, you will need to pay the title company. When you sell your home in Houston, TX as a traditional sale it also involves additional costs:

HOLDING COSTS – Property taxes and insurance fees will be due during the closing, which can take between 60-90 days. These are also known as holding fees because they are costs that accrue when you sell your home to a Houston, TX buyer.

REALTOR COMMISSION – A realtor is hired when you decide to sell your house in Houston, TX. Your realtor will earn a commission on the sales price at the conclusion of the process. If your home was sold for $125,000, your agent would get $7,500 as their commission.

Houston TX Traditional Home Sale Program | Sell Your House

 

Repairing your home: What are the costs?

Traditional sale

When you decide to sell your Houston, TX home, an inspection is required for any loan-financed traditional sale. Because the people who will purchase your home will need to borrow money from the bank, they must be sure that it is a sound investment.

A home inspection will be performed. You’ll need to make some improvements depending on the condition of your home. The average cost for these repairs is between $20,000-$40,000. According to our Houston, TX home sale program, you can either do the repairs yourself or take the estimate from the original offer.

As-Is

As-is sales mean that when you sell your home in Houston, TX it’s being sold as-is. Real estate investors will pay cash and have no assistance from banks. This means that they don’t have to inspect the property. This means that you don’t need any repairs. All the money received from an “as-is” offer goes directly into your pockets.

Financing Contingencies

An appraisal is required by the lender to confirm that the traditional home has been sold.

Traditional sale

Buyers will request a price concession or reduction if the appraisal from the lender is less than what buyers offer to pay for your house. The buyers will ask for a price reduction if they are unable to get a loan on your home.

As-Is

No banks are involved in an as-is transaction. The buyer can purchase your home with the money they have on hand and do not require loans. The buyer won’t need to have your home appraised and will only pay you the agreed-upon price.

Time to Close

It depends on your situation whether you need to close quickly or not. Your home may be in danger of being foreclosed or you have urgent needs. This is the difference between the two sales options:

Traditional sale

A traditional Houston, TX home sale can take between 60 and 90 days to complete. It is necessary to have all the details in order and for the buyer to be able to obtain a loan sufficient enough to pay the full cost of the house. There are many details that must be addressed, and even though your home is sold immediately, closing the traditional sale process takes time.

As-Is

You can name your closing date. You can also name your closing date.

The Offer

With both traditional and as-is sales, you will receive an offer on your home. Let’s suppose your home was valued at $125,000 when you decide to sell your Houston, TX home.

Traditional sale

Our Houston, TX traditional home sale program will advise you to remember that all $125,000 will not be going into your pockets. This is what you’ll need to pay for:

  • Transfer taxes and fees
  • Title insurance and fees
  • Closing fees
  • Realtor Commission
  • Renovations and repairs
  • Reducing costs
  • Financing Contingency

To see your money, you will need to wait 60 to 90 days. Add all these costs and fees together, and you’ll get $85,000 in actual cash when selling your home in Houston, TX.

As-Is

For homes worth $125,000, it’s possible to find as-is deals for around $85,000. This may look lower than the $125,000. But remember when you sell your Houston, TX home, you only pay for:

  • Transfer taxes: Cost
  • Cost of Title Insurance

You can get cash in your pocket within five days. You get money quickly for your home.

In Conclusion

An as-is sale will net you money that is roughly comparable to what you’d get at the end from a regular sale. An as-is sale and cash offer a better alternative to retail sales due to the money you save on repairs, fees, and time. You can sell your Houston, TX home and close in as little as 5 days. This will allow you to move quickly while still having plenty of cash in your pocket.

Not sure which sale type is best? Ask for a personal comparison. We’ll give you a detailed breakdown of the offer versus what would be offered by a traditional home sale program in Houston, TX. The market value of your house will allow you to see the pros and cons of each option. Contact The Simien Team today to sell your Houston, TX house quickly and easily, the old-fashioned way.