Ways to Move
Traditional Listing
The Traditional Listing method is a common way for homeowners to sell their home with the help of a licensed real estate agent. The agent will list and market the home on MLS and work with you to set a price. You will need to make your home available for potential buyers to view, and the agent will negotiate with any buyers who make an offer on your behalf.
Once you agree to a buyer’s offer, they will likely perform a home inspection and submit a list of repairs that need to be negotiated between the buyer and the seller before closing. If the buyer needs financing, the lender will order an appraisal, and negotiation may be necessary if the appraisal value comes back lower than the contract price.
It’s possible for the transaction to fall apart at any point during this process, and if it does, you will need to relist your home and start over. If you successfully navigate these steps, you will move forward to closing.
Timeline
Pros and Cons
Widest market exposure on MLS
Guidance throughout the home-selling process
Potentially higher sale price
Uncertain timeline
Inconvenience of showings
Cost of prepping home
Cost of renovations
Risk of Fall Through
Additional concession fees
Widest market exposure on MLS
Guidance throughout the home-selling process
Potentially higher sale price
Uncertain timeline
Inconvenience of showings
Cost of prepping home
Cost of renovations
Risk of Fall Through
Additional concession fees
Cash Offer
Selling your home with a cash offer is a simple and fast alternative to the traditional home-selling process. Instead of waiting for mortgage approvals, inspections, and other contingencies, institutions or brokerages that make cash offers can provide homeowners with a lump sum payment. This can be particularly useful for homeowners who need to sell their home quickly due to financial difficulties, job relocation, divorce, or other reasons.
Cash offers allow homeowners to avoid the stress and uncertainty of the traditional home-selling process while still receiving a fair offer for their property. By working with a cash offer provider, homeowners can complete the transaction quickly and with less hassle.
Timeline
Pros and Cons
Quickest way to sell your property
Certainty in the sale
Sell in as-is condition
No open houses or for sale signs
Closing date flexibility
Ability to sell occupied properties
Cash offers may sometimes be lower than market value
Fees or closing costs can eat into final payout for homeowners
Quickest way to sell your property
Certainty in the sale
Sell in as-is condition
No open houses or for sale signs
Closing date flexibility
Ability to sell occupied properties
Cash offers may sometimes be lower than market value
Fees or closing costs can eat into final payout for homeowners
Trade-In
Buying and selling a home simultaneously can be a stressful experience with an increased risk of the transaction falling through. However, there are now better options available for those who want to buy and sell at the same time. Companies like Knock and Homeward can help you focus on purchasing your next home with ease and confidence.
These companies offer two ways to assist you with your purchase. Firstly, they may purchase the home on your behalf with their own cash, or secondly, they may provide you with an equity advance on your current home. By using either method, you can buy and move into your new home right away and then list and sell your current home. Once your current home sells, you can complete the purchase of your new home. This makes the process less stressful and more manageable.
Timeline
Pros and Cons
Quick access to cash through equity advances e options
Less risk of transaction falling through
May require strict qualifications and credit checks
Limited availability in certain areas
Quick access to cash through equity advances e options
Less risk of transaction falling through
May require strict qualifications and credit checks
Limited availability in certain areas
Sale Leaseback
A sale-leaseback option allows property owners to sell their property to a buyer and then lease it back from them. The new owner takes over responsibilities such as maintenance, taxes, and insurance, while the former owner becomes the tenant and pays rent to the new owner. This option can help owners who need cash or want to access equity but still want to remain in their property as tenants. It can also help businesses to free up capital tied up in real estate that can be reinvested in the business. Additionally, investors may find it attractive as a stable source of long-term rental income.
Timeline
Pros and Cons
Ability to repurchase
Maintain rights to appreciation
Additional finance availability
Right to repurchase incurs annual fee
Additional cost for service (0-5%)
Up to 75% of home’s appraised value in cash
Ability to repurchase
Maintain rights to appreciation
Additional finance availability
Right to repurchase incurs annual fee
Additional cost for service (0-5%)
Up to 75% of home’s appraised value in cash
