I recently read an article that said Florida has more houses for sale than anywhere across the country.
Since I was looking into listing my home on the market, I was worried about the challenges involved.
The more I researched, the more I realized the substantial costs associated with closing a sale. There are many settlement fees due at completion of the process. When the title of the apartment is transferred to the buyer, around two to three percent of the total price adds up to closing fees. Plus, there are considerable fees that are paid directly to the realtor. In Florida, the usual agent commission is around six percent of the purchase price. That can result in tens of thousands of dollars going directly into the realtor’s pocket. My home was built in the mid 1770s. I inherited the apartment from my Grandparents. While I was consistently responsible with repair plus repairs, many features of the home were horribly ancient. I doubted that the electrical or plumbing systems would comply with modern building codes. Although the roof was in good shape, it was definitely too old to qualify for insurance. In order for a customer to secure a loan from a bank, I would need to invest in major renovations. I wasn’t blissful with the idea of spending my money on home improvements for someone else to enjoy. I also didn’t like the idea of an open-house, negotiations plus weeks or even months of hassle. After thinking over different options, I decided to seek out a currency offer. I avoided the process of finding a real estate agent, passing inspections plus the risk of financing falling through. I was able to sell the home in as-is condition.