Selling it yourself or selling to us.
Selling it yourself (for sale by owner) means you price, market and show the property and handle the paperwork, or hire an attorney. Here is how that compares with selling to us.
Side by side
| Topic | Sell to Star Thing LLC | Sell it yourself |
|---|---|---|
| Commission | None. If we assign, our fee comes from the price difference | No listing commission; you may pay a buyer's agent |
| Closing costs | We pay all of them | Your share |
| Repairs | None, as-is. We may ask a lower price if the inspection finds surprises | Buyers can ask for repairs or credits |
| Buyer's loan | No financing condition | Buyers may use a loan, which can be delayed or denied |
| Can the buyer back out? | Yes, during our 14-business-day inspection period | Depends on the contract's contingencies |
| Price | A written as-is price in the purchase agreement, from us, based on what investors pay for similar properties, paid in full in cash at closing, with no loan contingency. It changes only if our inspection finds something we didn't expect. Usually lower than a listed sale | Not known until a buyer offers. It can drop after their inspection or appraisal, or fall through if their loan does |
Show full details
| Topic | Sell to Star Thing LLC | Sell it yourself |
|---|---|---|
| Commission | None. If we assign, our fee comes from the difference between your price and what the buyer pays | No listing commission. You may still pay a buyer's agent |
| Closing costs | We pay all of them | You usually pay your share, which varies by state |
| Repairs | None. We buy as-is. If our inspection finds things we didn't expect, we may ask for a lower price | Same as with an agent |
| Buyer's loan | No financing condition in our contract. During the inspection period we may still cancel, including if we can't buy, partner on or assign the contract | Buyers may use a loan, which can be delayed or denied |
| Can the buyer back out? | Yes, during our 14-business-day inspection period, if we decide in good faith not to go ahead, for example because of the property, its documents, or whether we can buy, partner on or assign the contract. If we don't confirm in writing by then, the contract ends on its own. After that, only for reasons the contract lists, such as a title or road-access problem, damage to the property, or a missed closing date. If we fail to close for any other reason, you keep any earnest money or option fee. That is your only remedy, unless your state's law gives you more, and it is $0 if your contract has no earnest money or option fee | Same as with an agent |
| Visits to the property | Scheduled visits by inspectors, contractors and possible assignees, with 24 hours' notice. You may be there | You arrange and attend showings yourself |
| Paperwork | We prepare the contract. A title company or closing attorney handles the closing | You handle it, or hire an attorney |
| Mortgage, liens, back taxes | Paid from your proceeds at closing | Paid from your proceeds at closing |
| Price | A written as-is price in the purchase agreement you sign, from Star Thing LLC, based on what investors pay for similar properties, paid in full in cash at closing (Section 1 of our contract; any earnest money or option fee counts toward the price), with no loan contingency and no repairs. It changes only if our inspection finds something we didn't expect. Our price is usually lower than an open-market sale, and it isn't an appraisal. If we assign, our fee comes from the difference | Not known until a buyer makes an offer. It can change after the buyer's inspection or appraisal, the sale can fall through if their loan does, and a listing can take months to sell |
Our column is what our purchase agreement says. Your state may add terms: see what you sign in your state.
When selling it yourself is better for you
- You're comfortable pricing, marketing and showing the property, negotiating, and handling the paperwork or hiring an attorney.
- The property is in good shape and you can wait for the right buyer.
- You want to avoid a listing commission. You may still pay a buyer's agent.
Which option may fit you?
Three questions. Your answers stay in your browser.
Questions
Can I keep my own listing up while I talk to you?
Yes, until you sign. While the contract is in effect, you don't sell, list or sign another contract for the property. If we don't confirm in writing that we're moving forward before the 14 business days are up, the contract ends automatically and you're free to sell to anyone.
Who handles the paperwork if I sell to you?
We prepare the contract. A title company or closing attorney handles the closing.
Is a number you mention by phone a contract?
No. A number we mention is a starting point, not a contract. Neither of us has to buy or sell until a written purchase agreement that identifies the property and all its terms is signed by every owner and by Star Thing LLC.
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