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Selling a House Fast In Miami Shores, FL

So, you need to sell your house in Miami Shores quickly? Don’t stress! After five minutes, you will know the 3 options that Miami Shores homeowners must choose between when selling a house fast (and which quick sale method is the best fit for your house).

Whether you’re just getting started or already have your home listed for sale, you’re probably wondering:

  • "How long does it take to sell a home in Miami Shores right now?"
  • "What is the fastest way to sell a house for a fair price?"
  • "What can I do to speed up the sale of my home?"

We organized this detailed guide to outline your best options for a fast home sale while getting you familiar with the Miami Shores real estate market.

How Fast Can You Sell A House In Miami Shores, FL?

Here’s the short answer…

Currently, it takes about days to sell a house in areas of Miami-Dade County like Miami Shores, but it is possible to sell your house in as fast as 3 days.

However, the REAL answer is...it depends.

Yes, I am sorry ahead of time for that answer, but any credible professional will tell you that the speed of your home sale will be highly dependant on many factors. Much of which you have little or no control over:

  • The health of the Miami Shores real estate market
  • The neighborhood in Miami Shores where the property is located
  • Time of year
  • Condition of the home

As well as things that are 100% in your control:

  • Selling method (Real estate agent, FSBO or professional homebuyer)
  • The asking price of the home (relative to comparable homes)

Lastly, don’t forget the most important factor: your own personal needs from the sale of your home

We know that was a lot to consider, but like we said -- don’t worry, by the end of this article you will know how to sell any house fast in Miami Shores.

What Does a Successful Home Sale Look Like?

A successful sale means something different for each seller.

Many sellers are simply looking to move on to a new chapter of their life (or close an old chapter).

To reach your goal, it helps to know what you want to accomplish.

We recommend that you think about (and even write down!) what a successful sale would look like for you.

For example, if you need to buy a new house, that might mean walking away with a certain amount of money in your pocket for the next chapter of your life.

In other cases, there is urgency to sell a home that may be causing financial strain (or simply headache).

There are hundreds of reasons, but everyone is at least somewhat interested in achieving the best financial outcome. So, let’s start there.

Getting The “Best” (In-The-Bank) Price For a Home in Miami Shores

In the above example, the homeowner NEEDED to maximize the amount of money they walk away with from the sale. In this case, the most common way to get top dollar for your home is by listing your home traditionally with a top Miami Shores real estate agent.

An experienced realtor will create a marketing strategy tailored around your home. Moreover, they will handle all the negotiations and paperwork on your behalf.

However, as a counterpoint, make sure you consider the full picture… NOT JUST THE SELLING PRICE.

Remember, the goal is NOT to sell your house for the highest price, the goal is to “walk away” with the highest amount of cash in your pocket!

We will call this the “in-the-bank” amount (AKA the amount of money you keep from the sale).

Who cares how much you sell your house for, it’s what you get to keep “in-the-bank” that counts.

Simply put: Realtors aren’t free. They provide a valuable service (especially experienced realtors). This comes at a price: typically 5-6% of the selling price for Miami Shores listings.

Moreover, there is strong evidence that realtors are not able to sell their homes for higher prices than homeowner who lists without a realtor. Don’t read into this too much. A realtor’s main role is to reduce the hassle of the sale AND stear sellers away from disastrous decisions.

For most homes in Miami Shores, the best chance a seller has of maximizing their cash “in-the-bank” amount is to do all the work themselves and list FSBO (For Sale By Owner).

Their will still be many fees and a large learning curve, but if you have a home that is in excellent condition and are the type of homeowner that is extremely organized and doesn’t mind doing all of the realtor’s hard work, go for it! --the data says this is likely your best option for maximizing your return.

What’s The Typical Cost to Sell a Home in Miami Shores?

Let’s do the math…

Miami Shores has a median home value of $533,000 which means that a seller will typically pay around $31,980 in commissions/fees (yikes!).

Commissions aren’t the only factor. If you are holding out for a higher price, you need to weigh that against the additional costs you will incur while you wait.

We did some data digging and the back-of-the-envelope-math for you.

Here are the typical monthly expenses a seller in Miami Shores will incur for every month that the house goes unsold:

Monthly Miami Shores homeowner expenses can rack up while you hold out for higher prices

Median Miami Shores Property Taxes $6,822/yr ($569/mo)
Typical Miami Shores Insurance Premium $5,330/yr ($444/mo)
Typical Miami Shores Mortgage Payment $2,237/mo
Typical Miami Shores Utility Bill $267/mo
Total Monthly Homeowner Bills $3,517/mo

Holding out for top-dollar can easily double the length of time it takes to sell.

So if homes in Miami Shores are taking around 2-3 months to sell, it might take an extra 2+ months to hold out for top dollar.

The added monthly expenses from “holding out” for the highest price can add up quickly. If your realtor is highly confident that you can more than offset these costs then you should hold out (provided, that is an option).

Please, make the decision to hold out with eyes wide open!

“Holding out” vs. “Cashing out” [Miami Shores Real Estate Case-Study]

First, let’s compare two (very) different selling approaches and the impact that each has on how much cash makes it “in-the-bank”.

First, let’s analyze selling a home in Miami Shores that is in excellent condition and requires no work before scheduling an open house:

  • All-cash, quick close to a Certified Homebuyer for a slight discount (5% discount)
  • Hold out for top-dollar with an experienced Miami Shores realtor (5% premium)

For example, if the fair market value for the home is $200k, in Option 1, you would sell for $190K (5% discount) and in Option 2, you would sell for $210K (5% Premium).

We will use the median Miami Shores homevalue & expenses to provide an estimate of each.

Obviously, you will need to adjust the numbers for your situation. This is only meant to help you evaluate different options and how they impact what you get to deposit “in-the-bank”.

“Holding out” for top-dollar with a Realtor vs. Fast Cash Sale to a Certified Homebuyer

Miami Shores Realtor Miami Shores Homebuyer
Sales Price $554,320 $506,350
Commission & Fees -$33,259 $0 (No commissions/Fees)
Typical Homeowner Expenses
(3 Months on Market + 45 Day Closing Period)
-$14,068 $0 (sold before due)
(Property Sold in 3-7 Days Before Bills Are Due)
Cash “in-the-bank”
(Amount Seller Gets to Keep)
$506,993 $506,350
Miami Shores Realtor
Sales Price $554,320
Commission & Fees -$33,259
Typical Homeowner Expenses
(3 Months on Market + 45 Day Closing Period)
-$14,068
Cash “in-the-bank”
(Amount Seller Gets to Keep)
$506,993
Miami Shores Homebuyer
Sales Price $506,350
Commission & Fees $0 (No commissions /Fees)
Typical Homeowner Expenses
(3 Months on Market + 45 Day Closing Period)
$0 (sold before due)
(Property Sold in 3-7 Days Before Bills Are Due)
Cash “in-the-bank”
(Amount Seller Gets to Keep)
$506,350

*Standard Closing we used for this table is the 45 day close.

Despite the materially higher sales price achieved on the traditional listing, the cash “in-the-bank” impact is underwhelming (not to mention, having to wait out the significantly longer timeline).

Selling a Property in Poor Condition [Miami Shores Real Estate Case-Study]

This next example, will look at the benefit cost analysis of remodeling and selling a property that needs work with a listing agent vs. selling as-is for cash to a Certified Homebuyer.

Our math is simple. We add 2 more months to the timeline for repairs and the cost of repairs.

We determined the cost of repairs based off of statistics reported, on the average cost that Home Flippers have been spending per project in the Miami Shores area over recent years.

In this scenario, the Cash Buyer will typically discount the price they can pay by the cost of material, labor and time to carry out repairs. On the flipside, if a traditional agent hopes to get top dollar, all repairs will need to be completed ahead of any showings.

In this scenario, the traditional listing will “hold out” for top dollar (a 5% premium over the median).

“As-Is” vs. “Remodel”: Selling a Property in Poor Condition in Miami Shores

Top Miami Shores Realtor Miami Shores Certified Homebuyer
Sales Price $554,320 $399,750
Repair Costs -$83,148 $0
Listing + Standard Closing* 4 months + 1.5 months 3-7 days
Commission & Fees -$33,259 $0 (No commissions/Fees)
Homeowner Expenses -$24,619 $0 (sold before due)
Cash “in-the-bank” $413,294 $399,750
Top Miami Shores Realtor
Sales Price $554,320
Repair Costs -$83,148
Listing + Standard Closing* 4 months + 1.5 months
Commission & Fees -$33,259
Homeowner Expenses -$24,619
Cash “in-the-bank” $413,294
Miami Shores Certified Homebuyer
Sales Price $399,750
Repair Costs $0
Listing + Standard Closing* 3-7 days
Commission & Fees $0 (No commissions /Fees)
Homeowner Expenses $0 (sold before due)
Cash “in-the-bank” $399,750

*Standard Closing we used for this table is the 45 day close.

In most cases, it is typically more advantageous to sell a house in poor condition to an investor.

The only exception to this would be if you could do most of the work yourself or had very good contractor connections.

Even then, you will still need to be comfortable with a much longer timeline (and headache).

Conclusion

There are 3 main ways to sell your house in Miami Shores:

Traditional listing with a realtor - Best option if your home is in excellent condition and you can afford to wait. (Beware the fees… they are much more than you think)

For Sale By Owner (You are your own realtor) - Best option if you have a home in good to excellent condition and can handle the work/responsibility of being your own agent.

Sell Direct to a professional Cash Buyer (preferably a Certified Homebuyer based in Miami Shores) - - Best if you need flexible terms and are okay with taking a small price cut. And almost always the best option if you have a property in poor condition.

Remember, the goal is NOT to sell your house for the highest price, the goal is to “walk away” with the highest amount of cash in your pocket!

We will call this the “in-the-bank” amount (AKA the amount of money you keep from the sale).

Who cares how much you sell your house for, it’s what you get to keep “in-the-bank” that counts.

  • Get the full selling price from your home deposited into your bank account and move onto the next chapter of your life. Experience the peace of mind from having a certified cash offer!

    Why Sell to a Certified Home Buyer?

    Certified Local Homebuyer

    • Get multiple cash offers within minutes
    • No MLS, Realtor fees or commissions
    • No staging, no open houses, no stress
    • Close with Certainty; when you want
    • Cash Buyers provide more flexible terms

    Traditional Listing Process

    • No buyer guarantees
    • Takes significantly more time to sell
    • Pay up to 7% in commissions and fees
    • Finding the right Realtor to list your home
    • Staging and updating the home
    • Making costly repairs
    • Paying rent or mortgage on two properties
    • Strangers inspecting your home at open houses
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