Selling To Inherited Home Options vs. Listing With A Local Pennsylvania Agent
Even in a sellers market like , it’s smart to look at your options and see what will actually help you best reach your goals with the sale of your house. While you may be able to get a higher “top line” sales price listing with a local Pennsylvania agent, that doesn’t always boil down to more money in your pocket or less headache. Dive into the details below to compare your options.
| As-Is Sell w/Agent | Direct Sell | |
|---|---|---|
| Commissions / Fees: | 6% on average is paid by you, the seller | No commissions |
| Who Pays Closing Costs?: | The closing costs are usually split evenly between you and buyer | We pay the customary closing costs* |
| Inspection & Financing Contingency*: | Most likely an inspection will need to be performed. The main reason is if the buyer is using a bank loan, the bank loan might have this as a stipulation for the buyer(s) to obtain the loan. | NONE – We make cash offers |
| Appraisal Needed: | Yes, sale is often subject to appraisal | No appraisal required |
| Average Days Until Sold*: | +/- 61 Days | +/- 30 days |
| Number of Showings: | It Depends | 1 (Just Us) |
| Closing Date: | 30-60 +/- days after accepting buyers offer | 14-30 days after accepting offer |
| Who Pays For Repairs?: | Not you – we sell this as is! | NONE – We pay for all repairs |
Work The Numbers And See Which Way Helps You Get There…
When you really work the numbers you start to see the real benefits that each way of selling your Pennsylvania house offers.
Yes, here at Inherited Home Options we won’t be able to offer you full retail value for your house… but we also offer other benefits that going the traditional house sale route can’t offer.
Like…
Commission and Fees
We work with a brokerage team that services your market and we make sure you get the top value for your home if you choose to list your house. The realtor group assigned to your area will discuss the fee structure. We don’t go by the discount brokerage model – we go by a client first model so we make sure we maximize your house’s exposure.
Closing Costs
In Pennsylvania, the state charges a total of 2% transfer tax which is split evenly between the seller (you) and the buyer. If there’s mortgage payoff on the property, any fee associated with obtaining that payoff would come from the seller (you) at time of settlement. The title company charges a deed preparation fee paid by the seller (you) as well.
Inspection & Financing Contingency
If you choose to to list your property on the market and receive an offer from a buyer who is obtaining a mortgage for the purchase, a home inspection will be needed to satisfy the banks process of the final loan approval.
The bank will require a reputable home inspection to take place as the buyer’s expense. This will take a few hours to complete. Once that is done then the buyer’s agent will prepare a document to indicate any repairs or concessions that their client need done. Your agent will negotiate on YOUR behalf and give the advice that’s in YOUR best interest on how to proceed. Now if the house needs nothing – GREAT!!! You’re one step closer to selling the home.
Appraisal Needed
If you choose to to list your property on the market and receive an offer from a buyer who is obtaining a mortgage for the purchase, a home appraisal will be needed to be completed at the buyer’s expense in order to satisfy the final loan approval. As long as the property appraises for the amount of the loan being requested by the buyer – CONGRATS!!! You’re one step closer to selling your home. If for some the property does NOT appraise for the amount being requested for whatever reason – DO NOT PANIC! Here’s your options:
- The buyer pays the difference between appraised value and amount being requested in loan
- Your designated agent and the buyer’s agent will work on each other’s best options to see what works.
- If for some reason the buyer does not want to proceed, you can contact us for the DIRECT SELL option.
Average Days Until Sold
This will vary depending on whatever plan you choose. Let’s break this down and keep it simple, shall we?
- Sell Direct to Us – Immediate sale. You sign the contract, we start the process with our title company and we are off to the races. We have closing times as quick as two weeks but on average it’s about 30 days.
- List As Is w/ Agent – This is about 30-45 days on the market and then another 30-45 days for closing.
- List Repaired w/Agent – This is about 45-60 days on the market and then another 45-60 days for closing.
Number of Showings
This will vary depending on whatever plan you choose. Let’s break this down and keep it simple, shall we?
- Sell Direct to Us – One showing – just us!
- List As Is w/ Agent – Depending on the list price your designated agent will give you a more accurate count at that time as the market needs fluctuate.
- List Repaired w/Agent – Depending on the list price your designated agent will give you a more accurate count at that time as the market needs fluctuate.
Closing Date
Closing dates will vary on the buyer type. If the buyer has a loan involved then it’s about 60-90 days after the contract is signed. This is of course the transaction goes smooth with no unforeseen circumstances.
If you go the DIRECT SELL program it can range from 14 days to 30 days.
Who Pays For Repairs?
Depending on what county your property is located in, we have vendors who will pay for the repairs and then they get reimbursed AFTER YOU SELL – ISN’T THAT COOL?. That’s right. We have partnered up with a few specialized vendors who will actually perform the necessary repairs in order to make your house marketable to its fullest potential.
Your designated realtor and the repair team will draw up a plan to maximize your houses full potential so when your property hits the market for sale – YOU GET TOP DOLLAR!!!!!!
Get Your Inherited Home Options
Let Us help you figure out which option works best for you to sell your inherited home. Start below by giving us a bit of information about your property or call 610-463-1206 …
*An inspection contingency lets the buyer have time to do an inspection and back out of the sale or negotiate a new price if there are repairs that need to be done. If you can’t come to an agreement with the buyer, the buyer has the right to back out of the sale. Similar, a financing contingency gives the buyer the wiggle room to back out of the purchase if they can’t obtain a loan or if the home doesn’t appraise for the value that the bank needs to close the loan.
Here at Inherited Home Options we don’t use bank financing so you don’t have to worry about our ability to close on a deal.