Traditional sale is mostly used when you have enough equity in the property to pay all closing costs and you don’t have to bring money to the closing. With traditional sale, if you are not in the hurry you can list your property at the market price and wait for a potential buyer as long as you want. Statistically if you don’t get an offer within first 3 weeks this means that your property is overpriced. The longer property sits on the market-the lower chances that you will sell it at desired price. We strongly recommend when listing your property make it the best property for the money. Real Estate Liquidators will not accept your listing if we feel that your property is overpriced.
Traditional sale where buyer obtains a mortgage will not work if the property requires a lot of repairs because lenders typically refuse to provide financing for these properties.
If traditional sale is what you want, we can list your property for sale on all on-line portals and if we sell it, we will charge you 6%. When a buyer obtains a loan from a bank, it typically takes 30-45 days to close on the property after you accept the offer since bank needs to appraise it first and run it through underwriting process.