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How to Sell Your House Without a Realtor in Detroit, Michigan

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When it comes time to move on from your home, there can be a lot of tough decisions. Though the prospect of doing it on your own can be daunting, it can also be rewarding.  If you’re curious about how to sell a house without a realtor in Detroit, you’ve come to the right place. 

All you need is the right information and the willingness to get your hands dirty. There are a lot of moving parts involved in selling a house, but there are also a lot of rewards. Not only can you save money when you sell a home without a realtor, but it’s also immensely satisfying too. 

Reasons to sell your home yourself

Though there’s definitely some personal satisfaction with selling a house independently, the real driver for most people to sell their home themselves is financial. A good real estate agent is going to take six or seven percent in commission to list and then sell your home. Real estate agents have to make money off the real estate transaction, after all.

That fee can cause some sticker shock to homeowners. If you’re selling a home for $200,000, that leaves the real estate agent with a commission of around $14,000. Though that fee is well worth their time and expertise, it’s still a hefty chunk of change. 

What does a real estate agent do?

open house sign on a FSBO house

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When you list your home with a real estate agent, they’ll do all of the heavy lifting. Though a real estate commission seems high, it’s to cover a lot of work from the seller’s agent. 

– Client visits
– Information gathering
– Market analysis
– Professional home photos
– Staging
– Open houses
– Fielding calls from prospective buyers
– Fielding calls from buyer agents
– Forming a marketing plan specific to the property
– Lots of paperwork
– Arranging appraisals
– Arranging a home inspection
– Ensuring legal requirements are met
– Closing efforts

Even with all of that, some home owners still don’t want to handle the real estate commission. That’s especially true for a house that’s close to or even below the value owed on the mortgage. Homeowners who are worried that they won’t be able to cover what they owe are understandably hesitant to give a big percentage to a real estate agent. 

Steps to selling your house without an agent

If you’ve decided to sell your house without a real estate agent, there are specific steps you should follow. It’s not hard to do, but you will want to follow the steps to make sure you don’t miss anything important. 

home sold without a real estate agent

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1 – Find out the fair market value of your home

Getting the listing price right is the first step in selling your home.  You’ve got a few options to figure out the fair market value of your home. 

The first is done through an online site like Zillow, which measures current trends in your neighborhood. The second is something you’ll have to go to a local real estate agent for. You can ask them to do a CMA for you. You’ll have to pay for it, but the fee is nominal and well worth it. You’ll also have to pay for a Detroit appraiser.

The fair market value of a home in Detroit, Michigan is determined mainly by the following factors. There can be others depending on the area around Detroit that you’re in.

– Location
– Style
– Size
– # of bedrooms
– #of bathrooms
– Lot size

2 – Get your house ready for sale

To get your house ready for the market, you’ll have to do a few things to make sure it’s on point. 

Minor cosmetic repairs
– Clean and declutter
– Improve the front of the home for curb appeal

You might consider hiring a Detroit cleaning company to help you do the heavy lifting. A clean and decluttered house is essential to attract buyers.

You’ll also want to gather all the information you can about the home’s condition. Repair bills, proof of work done on the house, etc. Once your home is clean and ready to go, it’s time to take some pictures. Consider working with a home stager to help you make your house look its best.  

It’s important to note here that you can also work with a cash buyer to sell your house fast without making repairs. You’ll get a lower price, but you’ll also avoid all of the preparation costs. That path might be worth it if you want to sell a burdensome home quickly.

3 – Spread the word

The more you advertise and market your home effectively, the better the price you’ll get. Even in a seller’s market, you’ll get the most bang for your buck if you get more eyeballs on your home. 

But a professional looking for sale sign up in the front yard. Have your phone number printed on it at a local print shop for a better price. You can also print up flyers with a picture of your home. These are great to have on the counter when people come in for open houses. You can also post them locally. Though everyone seems to be online these days, sometimes the best way to get the word out is the old fashioned way. 

You will want to list online as well. Put up an ad on Craigslist and Facebook Marketplace for free. You can also look for real estate sales websites to list your home on. You’ll have to pay to list on the Multiple Listing Service (MLS). Expect for that to run you one to two hundred dollars. 

Here’s the information you’ll want to include in your home marketing materials.

– Square footage
– Year built
– # of bedrooms/bathrooms
– Room sizes
– Recent updates
– Amenities
– Neighborhood features

Using those professional photos from step 2 is critical here. Make sure you’ve got photos with great lighting that highlight your home – you might even want to hire a professional photographer for a few hundred dollars. 

4 – Negotiation with buyers

Particularly in today’s real estate market, you can expect to get offers pretty quickly. This is by far the most complicated part of the process. There are lots of federal, state, and local laws that govern the specifics of real estate transactions. If you aren’t aware of all of them and are working without a realtor you could open yourself up to a potential lawsuit in the future. 

Before you sign the paperwork, you absolutely must hire a real estate attorney. This will protect you from any potential mishaps in selling your FSBO home. Remember, nothing is done until you sit down at the closing date and sign the purchase agreement. Though you can find the real estate paperwork you’ll need online and get it ready to save you time and money with real estate attorneys, you’ll still want to have them look it all over. 

Here’s what you’ll need to negotiate with the buyer or the buyer’s agent:

– Price of the home
– Contingencies (ie repairs, inspection)
– Closing costs
– Closing date

You’ll want to not just read everything, but you’ll want to understand everything. Don’t sign if you don’t fully understand everything. You can do this either by reading up on it or by asking a real estate attorney. You can also explore agent assisted home sales, in which you bring in your own agent or a lower commission just to the closing. FSBO homes sold in this way will save money compared to those who pay traditional real estate comissions.

5 – The closing date

How fast you schedule the closing and what terms you agree to are up to you and the Detroit homebuyer. Closing could be within a week or could take more than a month to schedule, depending on what you and the buyer decide. 

A real estate closing is the date that the house actually changes hands. You’ll need clearance from your mortgage company if you have one, from their financial institution, and you’ll also need a licensed professional present at the closing. 

You can either use a Detroit real estate attorney or a title company in Western Michigan to handle the closing. Each one is going to cost about the same. Ask around to friends and family for recommendations about who’s great in your area.

Leading up to the closing, you’ll want to be in regular contact with the title company or real estate attorney. Make sure that there are no surprises waiting for anyone at the closing table. 

You aren’t selling your home alone

home closing without a real estate agent

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Even though you might be using the for sale by owner tactic to sell your Detroit area home, there are still experts out there who you will want to engage with. You’re also working with a buyer to sell your home – they’re obviously a crucial partner in this!

Keep in mind that if a buyer comes to you with their own real estate agent. FSBO home sellers generally end up paying a three percent commission to the buyer’s agent as part of the process. You can always choose to look for a different buyer who doesn’t have a buyer’s agent, but be prepared for that to take longer. 

Whatever you decide to do, you can be confident that you can sell your home yourself if you do your research. Though it can be a daunting task, it can also be highly rewarding!

Should You Sell to a We Buy Houses Company in Durham, NC?

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Choosing to sell your home, for any reason, is a big deal. Whether you’re facing financial difficulties, working through an inheritance, or trying to move because of a new job, you’ll want to educate yourself about the different ways to sell your home in Durham

Preconceived notions about the real estate market, including the sale timeline and the potential price, can hold homeowners back. It’s natural to just want to get on with all of it and trust the traditional ways of selling a home. However, there might be a better way for you to sell your home in North Carolina.

Home selling options in North Carolina

Most people who choose to sell their home go into the process thinking that there are only two options if they want to sell their home: FSBO or listing with a real estate agent. Actually, there’s a third option, and that’s selling to a cash buyer. 

With a for sale by owner transaction, you’re doing all of it on your own. You have to find potential buyers, prepare your home in the best possible way, and determine what the market rate is for your house. There are tons of resources online to teach you about all of these things, but it’s on you to figure it all out. That takes time and mental energy. For all of that, you’ll keep every penny that you make off of the sale of your North Carolina home.

Listing with a real estate agent is a turn-key option. The real estate agent will do all of the legwork that you need them to. They’ll set up open houses, find out what the going rate is, and negotiate with buyers. They’ll be able to tell you everything you need to know. In exchange, they’ll take a hefty commission. 

A cash buyer or a We Buy Houses company in the Triangle will offer you a lower price, but they’ll take your home as is. This process is turnkey in the same way that a real estate agent’s services are turkey. A cash buyer will do all of the legwork and present you with the options available. All you have to do is decide what you want to do and go with it. After going through all of the property information, you’ll get a fair offer for your home in Chapel Hill, Holly Springs, or anywhere in Wake County.

Pros and cons of a cash home sale

Cash home sale pros and cons

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Working with a cash buyer means that you’ll be able to sell your house faster and with fewer strings attached. You’ll be able to sell your house as is, without having to make repairs or do any home staging. With the cash buyer option, many of the particular processes associated with selling a home are out the window. 

For example, you likely won’t have to get a home appraisal if you’re selling to a We Buy Houses company. There’s even the possibility that you’ll be able to sell your home without an inspection. That’s especially likely in the current seller’s market. There’s no waiting around for a bank loan approval from the seller with a cash buy. All of this speeds up the process. 

Buy houses companies work with local homeowners who need to sell their house fast in Durham, and the houses can be left unchanged in many circumstances. Though there might be a required walk through for validation purposes, for the most part a house can be sold for an all cash offer in short order.

On the other hand, you might want to slow down the process. If you’re waiting to close on another home or if you have life circumstances that call for a different timeline, a cash buyer might not be for you. You’ll also likely get a lower price with a cash buyer than with the traditional real estate process. That difference can be eaten up in commissions and repairs, so do be careful when you consider what an honest price is for your home in Durham. 

Who pays cash for houses?

fair cash offer in Durham, NC

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There are two kinds of cash homebuyers:

– One-off / first time cash home buyers

– Experienced cash buyers

In today’s real estate market, it’s increasingly common for individual home buyers to be ready to pay cash for homes. The average home buyer is different today than it was a decade ago. Note that first time cash buyers are going to give you a bumpier road than experienced cash buyers. They know just as much about the process as you do if it’s the first rodeo for both of you. 

Working with a We Buy Houses company streamlines the process. These are experts in cash home sales because they’ve done it many times before. For North Carolina homeowners, a company that buys homes for cash is the easiest way to go. An investment firm will forego traditional bank financing to buy Durham houses, so you can get rid of your burdensome rental property or your vacant house without having to resort to contacting real estate agents.

People can pay cash for homes for lots of reasons. They might be investors who aren’t planning to live in the home. They could be house flippers who want to turn a profit. Cash buyers could also be individuals who do want to live in the house themselves. 

Accepting an all cash home offer

The simple closing process of an all cash home offer is one of the most appealing aspects of this option. If you’re agreeable to the price and the terms offered by a cash buyer, then the whole thing goes fast. 

In fact, if you want to sell your house fast, you might be surprised by just how quickly a quick home sale goes. For lots of cash buyer options, the closing date can happen on a hassle free Durham, NC house sale in one to two weeks. That kind of compressed timeline can be dizzying!  If you are a property owner and you want to sell your house fast, an all cash offer can get you out from under your house quickly.

The main thing that you’ll want to see is a proof of funds document for validation purposes. A cash buyer will be able to get this from their bank. It shows that they actually do have the money to buy your home in Durham. Without a proof of funds document, you’re not guaranteed that you’ll get to closing and get the cash for your home that you want.

Don’t forget, as a home seller in Durham, NC, you can change your mind all the way up until the final closing date. There are always points where you can turn back. Deciding to sell your Wake County home is a major step, so give yourself the kind of breath and thought that this decision warrants. Though your house can be left unchanged when you sell in Durham, North Carolina, it’s still a lot to move.

Selling a home is personal

local homeowners in Durham, NC

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Houses are more than just four walls and a roof. They’re places that families make memories. Kids have their first birthday parties and holiday meals are prepared here. Christmas presents are unwrapped and long summer nights are spent in the backyard.   A family deciding to sell their home means that they’re choosing to make memories somewhere else.

Whatever the reason you’re selling your home in Durham, it’s important that you think about all of your options and decide what’s best for you. Your situation could be affected by personal factors like divorce, an inherited home, or a burdensome house that’s holding up a move. Real estate investors are ready to buy houses in Durham and the surrounding areas without hefty closing costs. Real estate solutions for property owners who owe liens or need to sell in as is condition can avoid agent fees as well.

Helping homeowners matters

Durham, North Carolina and the surrounding areas have long been a hot real estate area. The selling process here tends to move fast. If you need to sell burdensome houses because of bad tenants or an unwanted property thanks to a family member who’s left it in a will, home buyers will snap it up for a fast sale.

Every reason that someone could have for selling a home in North Carolina is personal to them. No matter the unique circumstances surrounding an NC home, property simply is a hot commodity. Though profit is certainly part of the equation, many investors also do this as a way of helping homeowners who need to sell their Durham area home. The best cash buyers are doing this work to do some good as well as to make more money.

Don’t ever feel pressured to sell your home or to do something that you’re uncomfortable with. Whether you sell your home to a We Buy Houses company or through the traditional home selling process, think about what’s right for you.