What Is the Cheapest Way to Sell My House to Downsize in Detroit, Michigan?

Sell Your House Fast in Detroit

Selling a house to downsize is expensive. Although your goal is to make a profit, the reality is that you will spend thousands of dollars on relocation expenses, repairs, realtor commissions, closing costs, and various other costs. It makes achieving your goal of simplifying your life even more difficult.

The good news is that there is a way to downsize your house in Detroit, Michigan, without spending a lot of money. The cheapest way to downsize is to bypass the real estate market, skip the real estate agent, and sell your house as-is for cash. You can sell your property directly to a company that buys houses in Detroit.

How Can I Save Money When Downsizing My House?

There are several things you can do to save money when downsizing your house.

Liquidate Before You Move

One of the biggest selling expenses is moving. Depending on how much stuff you have and what moving services you use, relocation can cost $500 to $2000. So, if downsizing is your goal, then do it before you move instead of after.

Take inventory and decide what items you need to sell, throw away, or donate. Doing so can help you get into a small truck and may help you avoid hiring a moving company to pack and move your household items.

Sell Your House As-Is for Cash

Another big moving expense is home repairs or upgrades. On average, home sellers spend $5000 to $15000 renovating their house to make it more sellable. Unfortunately, most of the expenses are on the front end before the sale. If you don’t have that kind of cash, you may not be able to upgrade your home.

The cheapest way to sell your house to downsize in Detroit, Michigan, is to sell your house as-is. You eliminate repairs altogether. Since the buyer agrees to purchase the house in its current condition, you don’t have to pay for appraisals or inspections either. You can save thousands of dollars and use the cash toward moving into your house.

Avoid Listing Your House on the Market

Whether you attempt a For Sale by Owner or hire a real estate agent, there may be some marketing expenses. For instance, you may pay extra to list your house on a real estate site and utilize some of their additional features. Or, a real estate agent may pass on some of their marketing expenses to you.

However, if you downsize your house for cash, you can avoid marketing expenses. The main reason for this is that you don’t have to list your houses. You’re not competing with other sellers or showing the house to multiple potential buyers. A home cash sale is a private transaction between you and the company that buys houses. Therefore, you can save money on marketing costs.

Skip the Real Estate Agent

Did you know that real estate agents take six percent of your net profit out of your house sale? Naturally, this allows them to make money on the deal and compensates them for their hard work. Although agents should get paid for their work, six percent is a lot, when you consider how much it takes out of your sale price.

For instance, if you sell your house for $150,000, the agent takes $9,000 off the top. When you add in the closing costs, repairs, and other expenses, there’s not much money left over in profits. Instead, you can skip the real estate agent and use that money for other things when you downsize your house.

Work with a Reputable Company That Buys Houses

Like any other industry, the real estate industry does have scammers and buyers that may take advantage of you. For example, a national company may try to lowball you with a ridiculously low offer if you are in a dire situation such as foreclosure or bankruptcy. However, you do not have to accept their offer.

A reputable, local house buyer understands your needs and your real estate market. They can properly appraise your house and make an offer based on a higher percentage of your property’s current market value. You not only save money but may also make a little more on the deal without feeling like you’ve been taken advantage of.

Get a Cash Offer from M1 Home Buyers

Skip the realtor, avoid the market, and save money with M1 Home Buyers. We can help you downsize your house in Detroit, Michigan, giving you the freedom you need to get to the next phase of your life. Call 248-397-5800 to get a fast cash offer.

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