When you’re selling your San Antonio house, there are two main approaches you can take.
The first approach is a traditional sale. In a traditional sale, the seller usually hires a real estate agent and gets the house listed on the market. Potential buyers look at the property, and if all goes well, somebody makes an offer. Some sellers choose to sell FSBO (for sale by owner), which is pretty much the same, except the seller does the real estate agent’s job themselves.
The traditional approach has its advantages. It also has pitfalls. Getting a house ready for the market can be expensive and a lot of work. To get top dollar, the seller usually has to paint and deep clean to get their house ready for the Multiple Listing Service (MLS) and showings. They may also have to make cosmetic updates, if not major repairs. The seller will also have to pay real estate commissions and fees associated with the sale, as well as deal with the time and hassle associated with selling a house.
The second approach is to sell your house off-market. In an off-market sale, also called a direct sale, the property owner sells with a company like We Buy Ugly Houses®. Off-market buyers can be a very smart option for certain sellers.
What is an off-market sale?
Off-market sales are usually made to companies looking to invest in a property, rather than to potential homeowners looking for a place to live. These companies frequently buy houses “as is,” which means they don’t expect the seller to complete any major updates or repairs. In fact, off-market buyers rarely use FHA loans or standard forms of financing, which gives them more leeway when purchasing houses with serious issues. Off-market buyers understand the home-buying process and can typically close quickly.
For San Antonio sellers, this adds up to less of an upfront investment when selling a house, as well as more certainty when compared to traditional real estate sales.
How off-market buyers can help sellers
Here are some of the advantages of selling off-market:
- No staging or showings: Keeping your San Antonio house ready for showings at all times can be draining. Plus, you might need to invest in staging furniture, fresh coats of paint, and other cosmetic updates to entice the buyer into making an offer. Off-market buyers are more interested in the underlying value of your property than they are in how you present it.
- Avoid updates, renovations, and major repairs: Doing minor work on your house before you sell, such as replacing bathroom fixtures or organizing a messy storage shed, can be a hassle. Fixing significant problems like fire damage, major building code violations, or foundation issues can be expensive. Offers from off-market buyers are typically “as is,” which means you don’t need to make repairs to pass the lender’s inspection or win over the buyer.
- No real estate commissions: According to Aceable Agent, the average real estate commission in Texas is 5.49%. For a $250,000 house in San Antonio, that comes up to nearly $12,000. When you’re selling with an off-market buyer, there’s no need to pay a commission. Some off-market buyers charge additional fees while other companies, such as We Buy Ugly Houses, do not.
- A more straightforward process: Traditional real estate deals come with uncertainty. Your house might sit on the market with no offers for months. Off-market buyers tend to make serious offers and follow through all the way to close.
Off-market buyers usually attract sellers who are looking for a quick, no-hassle sale. They also appeal to sellers who need major repairs or face a similar situation that affects home value.
What is your San Antonio home worth?
Understanding your house’s value can help you decide if an off-market buyer is right for you. Two standard methods for calculating home value are appraisals and comparative market analysis (CMA).
With an appraisal, a professional appraiser evaluates factors like floor plan, square footage, amenities, home condition, and comparable properties in your neighborhood. An appraisal is a very reliable way to understand home value. According to Angi.com, the average home appraisal in the U.S. costs $350.
Real estate agents frequently use comparative market analysis (a.k.a. comps) to determine home value. The CMA formula involves looking at nearby houses of similar size and type that were sold in the last 6 months, usually adjusting the value based on 250-square-foot intervals.
Your house’s sales price could end up being higher or lower than appraised or comp value. In a hot real estate market, a house with a weak appraised value could sell for more than it otherwise would. Similarly, a house might sell for less than the CMAs say it should if it has a less-appealing floorplan or is too close to a major road.
Keep in mind that high value doesn’t necessarily mean high price. A modest 2-bedroom, 1-bath property in working-class San Antonio might never sell for as much as a restored historic home in Alamo Heights, but if it’s an appealing house for buyers who need a starter home, the 2-1 can be called a high-value house. Similarly, a 4-bedroom, 3-bath house with severe foundation problems might not hold as much value on the real estate market as 3-2 houses that are move-in ready, even though the price should be higher for a 4-3 than for a smaller floor plan.
Is selling off-market right for you?
Whether an off-market buyer is right for you depends on your circumstances and the value of your house. If you can afford an uncertain (maybe even lengthy) selling process, and your house has a high enough value to sell quickly, the traditional market might make more sense. If you’re looking for a faster, “as is” sale, off-market might be the way to go.
We Buy Ugly Houses® is your trusted off-market buyer.
We Buy Ugly Houses® has been in business across the US for over 25 years. During that time, we have purchased more than 150,000 houses all around the country and have earned a 95%* nationwide customer satisfaction rating. Our San Antonio team considers many types of properties, including condos, rentals, and single-family homes. We also serve nearby communities like New Braunfels and Seguin.
Getting started is easy. Simply reach out and we’ll schedule a quick, no-obligation walkthrough. We’ll take a look at your house and answer any questions you might have. If it seems like a good fit, we’ll make an offer. We buy houses “as is” and can sometimes close in as little as 3 weeks.
No commissions, no renovations, no repairs.† If that sounds like the kind of home sale you would like to make, get in touch with We Buy Ugly Houses today!
