An instant offer is getting an offer for us to buy your property. After we close, we turn around and list it on the market. You never have to have a showing, open house, or worry about a closing time. It is the simplest way to sell your property.
Instant Offer vs Traditional Offer
Selling the Traditional Way…
You come up with a price, with the guidance of us as the realtor. You get all everything looking good, do some repairs, deep cleaning, etc. We schedule photos (about an hour). Then we go on the market and showings start. Usually the home is shown about 7 – 15 time before we see an offer (about 30 minutes per showing). Often times we will have an open house for 2 to 3 hours. After accepting an offer the buyers will have an inspection for about 3 hours, an appraisal for about 30 minutes, and a final walk through for about 30 minutes. This usually takes about 2 – 3 months depending on the market and the demand for your type of property.
Selling the Instant Offer Way…
We come out to your home to do a quick walk through to check the condition of the home (not the cleanliness) and make sure we can compare it to other homes on the market. We go back to the office and figure what it would take for us to sell it and what the price it would sell for. We write an offer and send it your way. Timeline is about 2-6 weeks depending on when you would like to close.
Cost of An Instant Offer
Selling with an instant offer sounds way better so you are probably thinking that it will cost a lot more. A typical cost to sell your house is 6% to real estate agents (3% for the agent selling, and 3% for the agent helping buyers), 1% for title fees, and depending on the buyers, they may ask for 3% in closing costs. If we do an instant offer we are looking to make our 3%, give 3% to the buyers, 1% for title fees, and having 3% for the buyers that ask for a down payment. The only other cost is the for the risk of owning the house and not knowing how the market will react for your property. Other than that there aren’t any fixed costs. We keep it simple.