Real estate agents list properties and hope that someone will buy them. The agent shows the properties to prospective buyers if there are any (the average time to sell a property in many markets right now is 4-6 months) and then takes a percentage of the sale price if they find a buyer. Oftentimes, the agent’s commission is 3 to 6% of the sale price of your house. If it’s a $100,000 house, you’ll pay between $3,000 to $6,000 in commissions to an agent.
Agents provide a great service for those that can wait 4+ months to sell and who don’t mind giving up some of that sale price to pay for the commissions. But that’s where we’re different. We’re not agents, we’re home buyers. Our company buys the house directly from you. Since we pay with all cash and purchase the house from you, we can make a decision to buy your house within a couple of days (sometimes even the same day). Again, we make our living by taking the risk to buy the house with our own cash, repair the house, and market it ourselves to find a buyer.
Looking for this to be broken down further? Here’s a comparison chart to give an overview:
|
Selling w/ A Knoxville Agent |
SOLD To Knoxville Home Guys |
| Commissions / Fees: |
Up to 6%, paid by you, the seller |
None |
| Who Pays Closing Costs? |
2% on average is paid by you, the seller |
We pay all costs. |
| Inspection & Financing Contingency*: |
Yes, sales can fall through. |
None needed |
| Appraisal Needed: |
Yes, the sale is often subject to appraisal. |
No, we make cash offers. |
| Average Days Until Sold: |
+/- 91 Days |
We provide immediate cash offers. |
| Number of Showings: |
It Depends |
1 (Just Us) |
| Closing Date: |
30-60+/- days after accepting the buyer’s offer |
The date of YOUR CHOICE. |
| Who Pays For Repairs? |
Negotiated during the inspection period |
We pay for all repairs. |
*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. Similarly, 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.
