We buy houses Denton County or auctions, which is best when you want your house sold fast? These reasons include financial issues, migration and divorce, irrespective of the reasons for sale, it’s important for homeowners to use reliable home buying services.
While many homeowners still use standard agents to sell their homes as-is, there has been an increasing trend of Distressed sellers using auctions.
Auctions as a mode of house sales in Denton County isn’t a new thing, but is it a good idea? What are the advantages and disadvantages of selling your home via auctions?
Pros of selling your Denton County home by auctions
It’s quite a feeling when you see the hammer go down when your house is being auctioned. Here are some pros of using an auction to sell your homes :
One of the benefits of selling your homes via auctions is that you can sell them fast. By auctioning your Denton County home, you will have a set date (usually three to four weeks) when the sale must be completed. This is excellent for distressed sellers who want quick cash and want the transaction completed quickly.
Another huge advantage of selling houses via auctions is that it drives up competition for your home. Moreover, with competition the prices of your house go home and you make more money. When your home comes up for auction, many potential home buyers are seeking to be the top bidder, leading to high prices.
You have more control
Distressed sellers who want to sell their property via auctions have better control. This is because once a price is agreed, the winning bidder is mandated to buy the house as-is and cannot renegade without legal penalties. This is unlike other modes of selling where the buyer can pull out of the deal at the last minute.
Easy to sell house as-is
When homeowners have a property that needs repair and renovations, you can sell it at auctions quickly. This is because the buyer already knows the condition of the house and will make an offer they think is fair for the property.
Cons of selling Denton County Houses by Auctions
While there are many advantages of using auctions to sell your property, there are some drawbacks :
Sale of homes isn’t guaranteed
Although there is a 21-30 days date for the sale of the house, there isn’t any guarantee you will find a worthy buyer within the date. If the marketing is poor or the value placed on the home is too high, there will be few or no buyers for the house.
Unstable house price
While homeowners can set the price they are willing to accept for their homes, it’s not sure if your potential buyers will meet such prices. This is bad, especially for homeowners who need the funds from the auction to fund another purchase. It’s impossible to know how much you will get until the auction is over.
High commission fees
Most auction services charge very high fees before you are allowed to place your property up for auction. This makes it hard especially for an homeowner that has no money. Some auction firms can charge up to 2-3% of the final sales.
You will need to move out fast
Homeowners using auctions will need to find an alternative place to stay when the auction is completed. It can take between 7-and 14 days after the auction, so you will have to move out fast when payment is made.
We Buy Houses Denton County Or Auctions: The Conclusion
While auctioning is a great idea, you can avoid all the hassles and delays by selling your house to a reputable We Buy Houses Denton County company. When considering a good home buying company that buys homes quickly and as-is, Lonestar remains the best choice for all homeowners.