Selling a house to a direct buyer means one company makes the offer, funds the purchase and closes, with no lender and no listing in between. That changes the math in both directions, so here are the direct buyer pros and cons as we would explain them at a kitchen table in St. Louis. On the plus side: no showings, no repair list, no agent commission, and a closing date you pick. Mail-away closings work for out-of-state owners. On the other side, a direct offer accounts for the work the house needs, the months of carrying costs and the certainty you are handed, so it usually sits below what a fixed-up house fetches on the open market after sixty to ninety days of listing. If your house is in good shape and you have that time, listing may net you more, and that is a legitimate path. A direct sale is the right fit when the house needs work, when tenants or probate are involved, or when you would rather not have strangers walking through on a Sunday. Read how we buy houses, compare our number against an agent's estimate, and take your time. Our offer stays good while you think it over, and our 4.9 across 368 Google reviews comes from sellers who did exactly that.
The Pros and Cons Of Selling Your House To A Direct Buyer in St. Louis
Pro - Straightforward Closings
Direct buyers in St. Louis, MO typically close faster than traditional home buyers, and usually pay full in cash. Traditional home purchases usually require qualifications from banks, mortgage underwriting time, property inspection time and the buyer may not end up qualifying in the end. There are also normally no commissions paid to a buyer’s or seller’s agent which means thousands of dollars in savings. Direct buyers also may not charge transaction fees; if they do, they are extremely low in comparison to the commission or closing costs you would have to pay otherwise. They also provide mail-away closings which is a wonderful thing for out of state owners.
Con - Below Market Offers
One of the biggest complaints buyers have about working with direct buyers in St. Louis is that the offers are usually below market, but this is for a good reason! The buyer is taking on a huge risk by purchasing your house as-is, for your home may be more damaged than you realize! Plus, you won't spend any money on commissions or holding costs.
Pro - Purchasing Homes As-Is
Direct buyers in MO will usually purchase homes as-is. As a seller, this means you do not have to worry about repairs before closing or any other additional expenses you were not planning on. There are some companies that do not require inspections which makes it a truly as-is transaction.
Pro - Lower Risk Transactions
Selling to a professional home buyer is extremely straight forward. They will layout every step of the process and usually have shortened, very clear contracts that are simple as-is purchase agreements. You will also have lessened exposure to legal risks. You won’t have to worry about the buyer finding something you didn’t know you didn’t disclose or something they don’t like about the home or the neighborhood. Under most traditional real estate contracts, there is a potential for the buyer to sue you if they feel they didn’t get all of the information, or if they feel the facts were misconstrued. Direct buyers already know the state of the property, and they are willing to take on that risk.
Pro - No Showings
When you decide to use a professional home buyer in St. Louis, MO, you will not have to worry about going through a roller coaster of emotions. There are no frustrating, middle-of-dinner phone calls asking if you are available to show your home. You don’t have to worry about leaving your home spotless every day before heading to work, just in case there is a showing while you’re gone. You don’t have to worry about possibly running into a buyer’s agent or their clients or dealing with them asking you questions that you really shouldn’t answer anyway. You also don’t have to worry about buyers arguing with you over which furniture you are taking and what you are leaving.
Pro - Move Out Time
Direct buyers are in it for the investment. They are not expecting to move into the home on the day of closing. Most home buyers will allow a move-out timeframe after closing to allow you to relocate at your own pace. This is extremely helpful, especially with such quick closing timeframes. Also, you may not even have to clean the home when you leave. You can simply pack your personal items and furniture you want to keep and leave the rest.
