Whether due to a financial deadline, a life event, or just an emptying nest, Tennessee property owners often face the need to sell quickly. Fortunately, it’s possible to do so without the typical drawn-out process—and at a fair price. From listing with a flat fee MLS service to selling to an iBuyer company, there are plenty of strategies for speeding up the home sale process in Tennessee. Read on to learn more about the benefits and drawbacks of these options.
The biggest line item for Tennessee Quick Tennessee Property Sale sellers tends to be real estate agent commissions, which average about 2.5 or 3 percent of the sales price. Other closing costs may include transfer taxes, attorney fees, and mortgage origination fees. Closing costs are typically negotiable, so it’s important to be mindful of your budget and realistic about the price you can expect to get for your home.
Cash-Homebuying Companies are an Option
A growing number of Tennessee homeowners are turning to “we buy houses” companies for an expedited and cash-in-hand sale. These companies offer a straightforward process, typically allowing you to receive an all-cash offer within 24 hours of listing. They can also handle much of the paperwork, and a closing could take as few as 10 days.
These companies usually pay 30% to 70% of your home’s after-repair value, which can be a significant discount from the FMV. However, it’s worth remembering that these buyers aren’t looking to renovate your home, so you may not end up with as much money in your pocket compared to the traditional route of listing with a Realtor and selling through an open house.
Another advantage of these companies is that they can close in a short amount of time, reducing the hassle of a long selling process. Traditional real estate transactions can take months, as prospective buyers must submit offers, undergo a loan approval process, and negotiate with the seller on repairs. The faster the sale, the more likely you are to get top dollar for your Tennessee home. It’s also worth noting that Tennessee law requires that sellers disclose any material defects in their property, and that failure to do so could cause the buyer to back out of the deal. That’s why it’s a good idea to have a professional home inspector check your property before you list. This will help you address any problems before they become an issue with a buyer. This is particularly true for older properties or those in disrepair.