Published August 6, 2020
Timeline for Selling a House with a Wholesaler, Real Estate Agent, or Cash Buyer
Do you have the time?
It’s a legitimate question to ask yourself once you decide to sell your home. There are several options to choose from, and the path you take can depend on how big of a hurry you’re in to seal the deal.
This article examines the typical timelines for selling your home with a real estate agent, wholesaler, or cash buyer—plus the advantages and disadvantages of each option.
What Is the Timeline for Selling a House with a Real Estate Agent?
When you decide to sell your house with a real estate agent, you should expect to close the deal in three to 12 months. The average timeline is six months.
First, you have to prepare your home for the market, which includes making repairs, staging for showings, and upping your curb appeal. Then you must wait for an offer. How long your home remains on the market can depend on the list price, as well as your home’s condition, marketing, and availability. Finally, when you get an offer, the closing process itself could take 30-45 days if the buyer needs to secure financing.
An advantage of selling a house with a real estate agent is that they do most of the work when it comes to marketing, paperwork, and negotiations. You’re also likely to get the best price for your home.
A disadvantage would be that the real estate agent and other entities take a good chunk of your money through commission fees and, potentially, closing costs. Also, if the buyer has trouble getting a loan, the deal could fall through.
What Is the Timeline for Selling a House with a Wholesaler?
Selling your home with a wholesaler could be quick, but there’s a chance it may take some time. The timeline to close is usually anywhere from seven to 30 days.
A wholesaler is the middleman of the transaction. They work to get a property under contract, then assign that contract to a buyer at a higher price. So the longer it takes the wholesaler to find a buyer, the longer your house remains in limbo. There is also the risk that your contract could fall through if the wholesaler is unable to find a buyer, putting you back at square one.
One advantage of selling with a wholesaler is that they will buy the property as-is, which means there are no repairs or prep work for the homeowner to do. There also aren’t any fees (like commission and closing costs).
The main disadvantage is you probably won’t get paid what your home is worth. The wholesaler is looking to make a profit between buying the home from you and selling it to someone else. So, they will likely not offer you market value even if your home is in peak condition.
What Is the Timeline for Selling a House with a Cash Buyer?
When a cash buyer purchases your home, you can close in as little as seven days. That’s it!
The reason a cash buyer can work so quickly is that there is no need for financing, appraising, inspections, and other steps that often take time in the home-buying process with a real estate agent. Plus, a cash buyer is not looking for another buyer during the time your home is under contract (like a wholesaler).
There are so many advantages of selling your home to a cash buyer. You don’t have to make any repairs or mess with curb appeal. There’s no staging your home and scheduling showings. You don’t have to worry about financing falling through and starting over with a new prospective buyer. You can even leave belongings in the home you don’t want.
When you sell your house to a cash buyer, you likely will not get top dollar for your home’s value. However, you will get a fair offer and peace of mind that you no longer have to deal with the property.
Factors Affecting the Timeline for Selling a House
The decision to sell your home with a wholesaler, real estate agent, or cash buyer depends on how fast you want to sell, how much work you want to do, and how much money you want to get.
Choosing to sell your home with a real estate agent is going to be the longest process, while a wholesaler or cash buyer can close the deal much quicker. You’ll probably get the best offer with a realtor, but you’ll have less prep work to do with a wholesaler or cash buyer.
A cash buyer like New Again Houses® will give you a fair cash offer for your home as-is and can close the deal in as little as a week. No banks, no cleanup, no hassle. Contact us today!