When it comes to selling your house, you have options! Consider what factors are most important to you. Do you need to sell your house quickly or do you have 3 - 6 months? Do you need to sell your house As-Is or can you afford to invest money in it for repairs?

As a seller you can opt to sell your house through a real estate agent or sell directly to a cash buyer. We have included the time frame for either transaction.

Selling Your House with a Realtor

Selling a house can feel like a daunting task for many homeowners, therefore many run to a real estate agent for help. Real estate agents can offer valuable help, however, home owners are obligated to pay for real estate commissions up to 6% of the sales price. Additionally, there are many events that need to take place before closing. A typical retail real estate transaction goes as follows:

January 1 - seller reaches out to real estate agent about wanting to sell their house

January 2 - real estate agent meets with seller to go over property history, market price, and repairs that should be made before the house goes on the market. If the seller agrees, an Exclusive Right to Represent Contract is signed

January 3 - seller begins contacting contractors for bids on the suggested repairs

January 7 - seller accepts work and construction projects begin

January 30 - construction projects end

January 31 - real estate agent can now market the property for sale; the house may be on the market for several weeks before any interest buyers appear

March 5 - a prospective buyer requests a property showing and submits an offer on the property, the real estate agent communicates the offer to the homeowner, and negotiations may take place and contract is ratified. This process can take about one week

March 6 - HOA documents are ordered, if applicable,

March 11 - property inspections take place

March 13 - property appraisals take place

March 27 - HOA documents are received (note: the buyer has 72 hours upon receiving these documents to cancel the purchase contract for ANY reason without any penalty), if the buyer cancels, the seller has lost over two months of time and money

April 3 - Scheduled to close. The buyer must have secured financing at this point. If for any reason the lender decides the buyer does not qualify, the purchase falls through and the property goes back on the market in search for a new buyer.

Transfer of ownership takes place at closing once all documents are signed and realtor fees and closing costs have been paid. In this example closing occurred three months later. However, it can take anywhere from 2 months to 6 months to close dependent on market conditions. Additionally, keep in mind that the seller pays for realtor commissions, their own closing costs and sometimes the buyer closing costs as well.

Selling to a Cash Buyer

Cash buyers can be local real estate investors who purchase properties to fix and flip or hold as rentals. Cash buyers typically buy "as-is" properties with cash, do not use a real estate agents which saves the seller realtor commissions, and pay all closing costs. They buy properties from sellers who are simply looking to sell, inherited property, facing foreclosure or bankruptcy, property tax delinquent, undergoing divorce, or other situations. The process is straightforward and typically is as follows:

January 1 - Homeowner contacts cash buyer to schedule a property walkthrough

January 2 - Property walkthrough takes place and a no-obligation cash offer is given for your property. If purchase offer is accepted, contract goes to title company for a title search. The title company is a neutral third party that will handle the closing process.

January 14 - Closing takes place at the title company's office, the title company sends a notary to your house for document signing, or a virtual closing is scheduled.

That is it! You have successfully sold your house hassle free in just two weeks!

Deciding How to Sell

It feels great to know that as a homeowner you have options when it comes to selling your house. Selling through a real estate agent or to a cash buyer may not for everyone. It is important to consider what factors are most important to you before deciding which route to take.