Most people know what an estate agent is and have pre-determined ideas or personal experiences about what they do for you, as a seller. However, sellers might not know what to expect when working with a professional home buyer in Middlesbrough, County Durham. Sellers can expect a professional homebuyer to provide simple, stress-free transactions. Here are some pros and cons of selling your house to a direct buyer in Middlesbrough.
The Pros and Cons Of Selling Your House To A Direct Buyer in Middlesbrough
Pro – Straightforward Closings
Direct buyers in Middlesbrough, County Durham typically close faster than traditional home buyers, and usually pay full in cash. Traditional home purchases usually require qualifications from banks, mortgage underwriting time, property inspection time and the buyer may not end up qualifying in the end. There are also normally no commissions paid to a buyer’s or seller’s agent which means thousands of pounds in savings. Direct buyers also may not charge transaction fees; if they do, they are extremely low in comparison to the commission or closing costs you would have to pay otherwise.
Con – Below Market Offers
One of the biggest complaints buyers have about working with direct buyers in Middlesbrough is that the offers are usually below market, but this is for a good reason. The buyer is taking on a huge risk by purchasing your house as-is, because your home may be more damaged than you realise. Plus, you won’t spend any money on commissions or running costs.
Pro – Purchasing Homes As-Is
Direct buyers in Middlesbrough will usually purchase homes as-is. As a seller, this means you don’t have to worry about repairs before closing or any other additional expenses you were not planning on. There are some companies that do not require inspections, which makes it a truly as-is transaction.
Pro – Lower Risk Transactions
Selling to a professional home buyer is extremely straightforward. They will lay out every step of the process and usually have shortened, very clear contracts that are simple as-is purchase agreements. You will also have lessened exposure to legal risks. You won’t have to worry about the buyer finding something you didn’t know you didn’t disclose or something they don’t like about the home or the neighbourhood. Under most traditional property contracts, there is a potential for the buyer to sue you if they feel they didn’t get all of the information, or if they feel the facts were misconstrued. Direct buyers already know the state of the property, and they are willing to take on that risk.
Pro – No Viewings
When you decide to use a professional home buyer in Middlesbrough, County Durham, you will not have to worry about going through a rollercoaster of emotions. There are no frustrating, middle-of-dinner phone calls asking if you are available to show your home. You don’t have to worry about leaving your home spotless every day before heading to work, just in case there is a showing while you’re gone. You don’t have to worry about possibly running into a buyer’s agent or their clients or dealing with them asking you questions that you really shouldn’t answer anyway. You also don’t have to worry about buyers arguing with you over which furniture you are taking and what you are leaving.
Pro – Move Out Time
Direct buyers are in it for the investment. They are not expecting to move into the home on the day of closing. Most home buyers will allow a move-out timeframe after closing to allow you to relocate at your own pace. This is extremely helpful, especially with such quick closing timeframes. Also, you may not even have to clean the home when you leave. You can simply pack your personal items and furniture you want to keep and leave the rest.