Selling a house in Pennsylvania is not an easy job. And selling a house as is in PA is an even more difficult decision as you stand to lose a big portion of your home’s sale price.
Whether you are employing a top realtor in the US or using the best home-buying websites and home-selling websites, the home-selling tips in this blog will help you do that right.
According to the real estate data of Pennsylvania, it can take about 45 days to get a legit purchase offer and another 35 days to close the deal. So, overall on average, it takes 80 days to sell a home in PA.
But the good news for you is that the Pennsylvania market is seeing regular appreciation in the past few years. And you can benefit from it by selling your home by looping in the top realtor in the US.
What is the best time to sell a house in PA?
As in any other state in the US, timing matters while selling your house in the state of Pennsylvania. The state has a clear real estate cycle with real estate prices rising and falling in patterns every year. You can use actual real estate transaction data from the past few years to chart the best time to sell your Pennsylvania property per your goals.
But it’s not that simple to get the timing right. You can’t just put your property up for sale in a particular month or season. You need to take into account your property type.
Your property type may sell faster, better and at a higher closing price at a specific time of the year. For instance, in the winter season when home buyers have to deal with situations like sub-zero temperatures and difficult road conditions, it is challenging to make a home sale. Even the location of your home can assist you to sell it at a particular time.
What are the top legal requirements you must know of while selling a home in PA?
Below are some top legal requirements you must be aware of when selling your home in PA.
- You don’t have to have a lawyer
There are states in the US where it is legally needed for a seller to hire a real estate attorney to sell real estate. Pennsylvania is not one of those 21 states. While you don’t have to hire an attorney and bear an additional cost, having one by your side is always a good idea. She can review your contract, draft legal documents and even assist you in negotiations. Real estate attorneys can also be of great help to you in circumstances like an owner-financed or lease-to-own deal, and in title issues or contract disputes.
- You have to open up your home as a disclosure
While selling a home in PA, you are required by law to offer interested buyers Seller’s Property Disclosure. The statement discloses legally mandated items like the condition of your property and material defects if any known to you.
Material defects are any such issues in your property that can significantly impact its value or pose any kind of unreasonable risk to the new owners.
Ways in which you can sell your home in PA
Below are the ways in which you can sell your home in PA:
- You can hire a real estate agent
When most homeowners in Pennsylvania think about selling their home, listing with a realtor is the first thing that comes to mind. In PA, seller real estate agents are also called listing agents. A real estate agent not only handles the listing and marketing of your property but also helps you from staging and showing to contract negotiation and closing, every step of the way. A real estate agent also helps you with a comparative market analysis and offers pricing recommendations tailored for your specific goals.
- You can hire a discount real estate agent
The commission that is paid out to the seller’s real estate agent is generally a percentage of the sale price of the home. The commission percentage can vary and a lower commission usually means less robust services.
Full-service real estate agents handle the listing, showing, marketing, staging, closing, and negotiation of your home. They handle the marketing expenses from their own pockets and charge you anywhere between 5 to 8% commission in Pennsylvania. The commission is split between agents representing the buyer’s agent. But it is possible to negotiate the commission rates with seller agents. Also, the commission amount is paid out of the sale price after closing and you don’t have to give it upfront.
- You can use the services of a flat fee MLS company in PA
The multiple listing service or MLS is developed by Realtors and is a multimillion-dollar real estate tech. The main principle behind the MLS is that it gives real estate agents and brokers a platform to share information on properties through one single network.
Home sellers like you can benefit from the exponentially increased exposure while buyers can quickly identify properties ideal for them on the market. The MLS network facilitates cooperation between competing brokers, agents, and agencies leveling the playing field and extending value to each party involved.
While you can access MLS listings published on agents’ and brokers’ websites, the MLS is a private database maintained and accessible only by licensed real estate professionals.
How much does it cost to sell a home in PA?
Selling a house as is in PA or selling it taking help from top realtors in the US comes with costs. Even when the buyer has to pay for some of the costs associated in closing, the costs are negotiable. Below are the costs you can expect when selling your home in PA:
- Associated title/deed transfer costs
- Associated title/deed settlement costs
- Closing cost after negotiation with the buyer
- Home warranty after negotiation with the buyer
- Real estate agent commission
- Local recording fees
- Mortgage payoff, if applicable
The professional help you may need while selling a house in PA
Even when you sell your home FSBO to cut costs, after closing, you must get the sale done for a cost lower than if you had hired a real estate agent. When you don’t hire a real estate agent, you’ll need to hire some real estate professionals to complete the process like an appraiser, a title company, and a real estate attorney. Below is how they can help.
- A real estate attorney
The home sale paperwork is extensive with title transfer, documentation required for the mortgage, and other legal requirements. So, if you are not using the services of a broker, you need a lawyer.
In many states in the US, it is required by law to hire a real estate attorney even when you and the buyer have agents. Also, even if it is not required by law, a real estate attorney can be your guide to provide you with referrals for title companies and escrow agents as well as answer your questions about the selling process. You must look for a lawyer who specializes in real estate transactions. While billing practices can vary, attorneys charge by the hour or a flat fee.
- An appraiser
You need a professional appraiser to complete your home sale. An appraiser can offer you some valuable insight into where your home stands in comparison with similar ones in your locality.
- A title company
Home sellers generally provide the owner’s title insurance policy obtainable via a title company. Once under contract, the title company can be the needed third party that holds the buyer’s earnest money. A title company can also help you with disbursing funds and preparing closing documents.
To sum it up
On average, the real estate agent commission can come to around USD 16,000 in Pennsylvania. You can take help from the best home buying websites to buy homes. And use the best home-selling websites to sell your home by owner in PA and save thousands in commissions. Houzeo is a good, sophisticated For Sale By Owner platform using which you can sell your house.