Beautiful day in Austin TX today! Man I love Austin in November!
You got here because you want to sell your house in Austin TX and you’re looking forward to putting some money in your pocket? Now you are deciding whether selling your house to an Investor in Austin or selling your house through an Agent on the MLS traditional real estate market is your best option?
But did you realize that selling your house may mean you have to PAY money? In this blog post, we break down what are the different fees paid to agents versus paid to investors that buy houses in Austin…read carefully because there is a big difference in out of pocket costs. Key: If you are selling your house to an investor in Austin you DO NOT have to pay ANYTHING out of pocket!
It’s true… selling your house can sometimes mean that you have to pay money. (This isn’t always the case but it often is.) We want to you to know about the different fees you have to pay because this information may help you decide whether to work with an agent or to sell your house directly to an investor. And also save and prepare yourself for whatever route you decide to take.
What Are The Different Fees Paid To Agents Versus Paid To Investors that buy houses in Austin? — Agent Fees
An agent is a salesperson and they will try to find a buyer to buy your house. In order to do this, they will list your house in a listing service called the MLS and use various marketing efforts to try and find a buyer.
So you’ll end up having to pay some fees to the agent. Those fees usually include a commission if they can sell the house (this is the highest amount of money you’ll have to pay and it’s often about 6% of the sale price of the house or about $6,000 for a $100,000 or $14,100 for a $235,000 home which is the MEDIAN home price in Austin). There may be other fees you have to pay as well, and these might include different advertising fees or other costs associated with selling your house. There might be a fee to list your house, or there might be a fee to the agent’s brokerage or there might be a fee to get a sign in front of your house or there might be a fee for the title company… the list goes on and on. You can ask the agent about these and they should tell you. You will also likely pay for all or a portion of Title Fee’s, Survey’s, Appraisals and Inspections. These are fee’s negotiated between the buyer and seller of a house. If there are probate, will or another Title issue’s that need to be cleared up you will need to pay an attorney to clear those up as well.
Ok…..what about if I sell to investors that buy houses in Austin?
What Are The Different Fees Paid To Agents Versus Paid To Investors that buy houses in Austin? — Investor Fees
This is the part that surprises most house-sellers: for most investors that buy houses in Austin, there are rarely any fees to cover. Investors that buy houses in Austin will usually take care of all fees associated with selling. Plus there’s no commission to pay because they’re not agents so they’re not listing your house. You might be responsible for closing costs but this depends on the investor so make sure you ask the investor who pays for those costs. When selling a house to us at www.TheTexasHouseBuyer.com we PAY FOR ALL CLOSING COSTS keep that in mind when comparing us to other offers. We ALSO pay for any and all Title Fee’s, Survey’s, Appraisal’s and Inspections. If there are probate, will or another Title issue’s that need to be cleared up WE WILL PAY our attorney to clear those up as well! We specialize in buying houses out of Probate or inheritance situations as well as buying houses in really poor condition. Be it moldy, flooded, old, vacant or even GUTTED! We are the #1 Choice if you are selling your house to an investor in Austin. We Buy Houses for CASH in Austin!
The One “Fee” You May Not Be Thinking Of, that MANY TIMES IS THE MOST EXPENSIVE ONE!
There’s one more cost (“fee”) that you might not be thinking of: when you work with an agent, they’ll get you to fix up your house and then put it on the market….Well, the catch is you’ll have to pay your mortgage and taxes in addition to Gas, Water, electric and Trash bills etc…. for as long as it takes the agent to find a buyer. So although this isn’t a fee to the agent, it’s a cost you’ll have to pay because you decided to wait to sell the house on the market…In Austin the Average time on Find a Buyer is 61 days “Days on Market (DOM), or the number of days it took the average home to sell, increased from 56 days in October 2016 to 61 days this October. Inventory rose slightly from a 3.8-months supply to 3.9 months year-over-year, but was down from a pre-hurricane level of 4.3 months.” Now 61 days doesn’t sound like much…only 2 months….but that is how long it takes to FIND a buyer. After that, they still need to close on the property and the average time it takes to close a Loan is 45-60 days! Well now, your look at 3-4 Months…and if that loan does not go through which happens very often...you start again at square one for ANOTHER 3-4 Months.
In this case in the best case scenario if you sell in say 4 months. Then you’d pay your mortgage TIMES 4 (once for each Month) bills TIMES 4, and monthly tax payments TIMES 4, On an average 1,800sq ft Austin home that is worth about $250,000. These payments can add up to OVER $2,000 PER MONTH! That would be an additional cost of about $6,000 in the best case and $16,000+ in the worst case…..Now if the house will be vacant and is Vandalized while you are waiting for it to sell add the thousands of dollars of the cost of a new A/C, Copper pipes, etc…..And if you have already moved and you are making payments on a New House or Apt…Wheeeew those $2,000 a month is going to be tough to come up with while you wait for the house to sell.
When you sell the house to an investor, they buy quickly, We BUY houses for cash in Austin within 10 DAYS so you end up saving this holding cost as well.
So what’s right for you?
It depends on how much you’re willing to pay and how quickly you need to sell.
If you want to go over this in more detail or confirm that we won’t charge you any fees if you sell your house to us then please get in touch and we’ll be happy to walk you through it. We will help you make the best decision possible. If we are a fit for you great, if not also great we will let you know and you’ll be able to find a Realtor that suits your needs and list your home if that is the best option for you.
Click here to watch this in Video Format on Youtube! Sell my house fast Austin! We buy Inherited Austin houses, Austin Houses in Probate and houses in Austin From ALL Types of People that need to SELL A HOUSE FAST in AUSTIN! Selling a house inheritance and selling a house in Probate has never been easier. Selling an AUSTIN house fast has never been easier! We buy houses fast in Austin all of the time!