05/02/2024
I did a video about this once, and can personally attest to this.
A family was going to sell their mom’s house to an investor for $100,000 and save the real estate fees. They would have walked away with about $97,000. They called me to check the comps and see if that was a good deal.
Using me to list it on the open market, we decided comps were $135,000, and after my fees, that would be $126,900. But, I told them the market was hot enough that we would probably get more.
We ended up selling for $175,000, to another investor, and after my fees, they walked away with $164,500.
The $10,500 they spent made them $67,000 more.
In this case, they were going to sell so low because they had no idea what the real estate market was doing at the time and their mom bought the house in the 60s for $18,000, so they thought they were making a killing at the $100,000 and thought no one else in their right mind would pay more than that for that house.
Call me if you are thinking of selling your house….I do free estimates on home values and, more importantly, your estimated net proceeds, which is the amount you’ll actually walk away with.
