Selling it yourself, real estate agent and a cash buyer for houses, these are the three most common ways for selling houses. Which one of these three is the best way to sell houses in Jersey City? Well, this depends on your preferences and needs. We can help you by telling you the pros and cons of these three ways. Let’s cut to the chase.
Sell It Yourself
When you are trying to sell your house yourself and you manage to sell it fast, call yourself a lucky person. Otherwise, this is most likely to be the slowest way to sell your house. Following are the pros and cons of this strategy:
Pro
- You can take charge and handle negotiations.
- You can avoid real estate commissions.
- You can save thousands of dollars if you are detail-oriented and have the time to deal with the intricacies of real estate.
- You can list your property online and describe the features, amenities and other details to attract potential buyers.
Cons
- The success of this way is pretty low.
- You have to determine the fair market value of your property.
- If your next house is ready to move in, you will have to spend on the maintenance, utilities and home insurance of two houses.
- Though it depends on the market, it may even take six months to get an offer. And then it will take 45 days to closing.
Is This Way Best For You?
If you are detail-oriented and do not want to sell your house urgently, this option is the best for you. Choose the ‘sell it yourself’ way if you can comfortably handle negotiations, financials and contracts. Make sure that you have a financial reserve.
Real Estate Agent
Some people do not want to deal with posting ads, fair value evaluation, negotiations, contracts, closing etc. They often contact a real estate agent to sell their houses. Depending on the situation, it may or may not be the fastest and the best way to sell houses in Jersey City. Still, it is better than the ‘sell it yourself’ strategy. The following are the pros and cons of working with a real estate agent.
Pros
- An agent can use multiple listing system.
- An experienced agent can help you in fair market value evaluation. This allows you to get a fair deal and you can sell your house quickly.
- The agent will walk you through each stage of the sales process.
- The agent can negotiate to get the best possible price.
Cons
- There will be a commission fee. Usually, it is 6% of the total transaction.
- Depending on the market, you might have to wait for 6 months to get an offer. After receiving and accepting an offer, it will take around 45 days to closing.
- The agent will ask you to make your house more sellable.
Is This Way Better For You?
If you cannot wait for 6-12 months and want someone experienced to take charge of price evaluation, negotiations, contracts, closing etc., find a real estate agent.
Cash Buyer For Houses
This is the fastest and the best way to sell houses in Jersey City. If you need to sell your house urgently and you want cash within a few days, find a cash buyer for houses. The following are the pros and cons of selling a house to a cash buyer.
Pros
- A cash for house buyer can buy a house in any condition.
- You can get your cash within 7 days.
- From offer to closing, a cash for home buyer handles everything and the process is usually completed in 30 days or less.
- You may not have to incur any closing costs.
- Forget about repairs; you don’t even need to spend anything to clean out the house.
- Some buyers also take over the loan payments you are making on the property.
Cons
- As you will be selling your house in existing conditions, you will have to sell it at a discount.
- You have to spot scammers.
