4 Best Ways for Selling a Home in West Virginia

A private real estate sale is an all-cash sale that closes quickly, sometimes in only a matter of days, when the buyer needs a fast-moving transaction.

It prevents many of the negative trappings of a traditional sale to the general public who typically need mortgages to buy a home. Lending creates delays — frequently weeks or longer.

Home buyers who need a mortgage must apply for the loan, and then have their personal documents evaluated by the lender.

If your buyer doesn’t qualify, your home will then need to go back on the market in search of a new buyer.

Your home itself is up next for intense scrutiny during a formal appraisal by the lender that a traditional sale requires.

That appraisal may not match with your sales price, and then you’re back to renegotiating a reduced sale price.

Both buyer qualifying and home appraisals aren’t issues in the private sale. Your buyer in a private sale brings cash, and that eliminates any qualifying and lender underwriting.

There’s no marketing involved in a private sale. You won’t need to open your home to strangers for formal showings. You also won’t have any weekend open houses or broker previews.

Your home also won’t be a fishbowl on the internet with images available for the general public to see.

The next segment introduces the private home buyers who have cash and can move quickly to close transactions.

What Are Home Buying Companies?

Home buying companies look for investment property in West Virginia.

A cash buying firm might be a family working to rehab a home for resale or a collection of investors buying rentals with pooled resources to hold as a reliable source of income.

These diverse groups of investors have some common threads that tie them together.

They arrive with a sales offer and cash, either their own funds or money from loans made through hard-money lenders.

West Virginia real estate investors buy all types of properties, including single-family detached homes, attached condos and townhouses, manufactured housing, mobile homes, duplexes, and even vacant land.

Whatever type of property you’re interested in selling, you have investors interested in buying.

West Virginia cash home buyers also purchase property in any condition. Your home might be move-in ready, need some repairs, or be a complete fixer. There’s an investor interested in buying your house in as-is condition.

Selling a house privately is especially beneficial for people who are:

• selling a house before it goes to a foreclosure auction
• selling a house with sitting tenants
• selling a house after a bankruptcy discharge
• selling a house in disrepair
• selling an estate home
• selling a house with back taxes owed
• selling a hoarder house
• selling a house to downsize to a smaller home
• selling a house in a divorce situation
• selling a house for a job relocation

Professional home buyers typically work with West Virginia investment-friendly title companies who have experience handling all-cash transactions.

Reviewing the benefits and downsides of the sale can help you make up your mind to sell your house to an investor or to select a different sales approach.

Pros of Selling to a Home Buying Company

• You can sell your house fast when working with an investor; in fact, sometimes only in a matter of days when you need an extremely quick transaction.

• Cash house buying companies in West Virginia offer a solid sale. You won’t be left at closing with a buyer who fails to qualify for a home mortgage.

• There’s no home prep involved in an investor sale. You won’t even need to do any cleaning before you move.

• You’ll skip paying Realtor commissions.

• Cash house buyers pay your side of the home seller closing costs.

Cons of Selling to a Home Buying Company

• You typically won’t receive a market value offer from cash property buyers in West Virginia.

There are several reasons for that. The obvious one is they’re a professional company. They won’t stay in business long if they don’t have some hope of making profit.

There’s another reason that may not be so obvious.

The price on the investor’s offer is the amount of cash you’ll have in your pocket at the end of the sale — it’s your net.

That’s not true in the case of an offer from the general public when working with a Realtor.

Why? Because you’ll need to deduct real estate commissions and closing costs from the amount listed on that offer.

When you look only at the net from your sale, your offer from an investor may come closer than you think to what you’d get from a traditional sale.

How to Find an Ethical Home Buying Company

Just like any profession, there are less than ethical operators in the home buying business. The easiest way to avoid them is to do a thorough screening of your cash buyer.

You can begin the screening by making a list of prospective cash home buyers.

An internet search is one way to collect the names of local investors. Use search terms such as “we buy houses” or “cash for homes in West Virginia” to find local cash house buyers.

Once you have a list, it’s time to vet your prospects.

Go directly to each investor’s website and locate the “About Us” or “Our Company” link. This page should provide the background of the investor and the business.

Look for investors who have at least three years experience in real estate investing and also show an involvement with local community groups.

If you don’t find a bio or information page, remove that investor from your list of prospects. Legitimate investors are transparent about their background and experience.

Your investor may hold a state-issued real estate license. You can use the license lookup link on the West Virginia Real Estate Commission’s homepage to determine that.

It’s then time to check the consumer comments for your prospects. Look for reviews posted about your investors on places like Yelp and Real Estate Bees.

The local branch of the Better Business Bureau also mediates real estate disputes. Check that website for any cases pending against your prospects.

We have a way to save you some time and effort. Simply ask for an offer from experienced and vetted local investors via our website!

Requesting a cash offer on your home is as easy as using the simple form on our website. We’ll match you with the local professionals partnering with us.

Our elite crew has experience in all-cash sales that close quickly. We’ve done the prescreening for you.

There’s no fee, and there’s no obligation to accept any of the cash offers you may receive.

A traditional home sale in the Mountain State involves listing your house with a real estate brokerage.

Who Are Real Estate Agents?

A real estate agent is your legal fiduciary for the real estate transaction. Your agent represents you and must put your interests first in the sale.

Your agent will list your home for sale and market it by sharing listing information with other agents and the general public to attract prospective buyers.

A licensed agent in West Virginia will also play a key role in shepherding your transaction through the due diligence period, title, and escrow processes.

Your agent will also oversee the final closing of the sale.

Real estate agents using the title “Realtor” are card-carrying members of the West Virginia Association of Realtors, the state branch of the National Association of Realtors (NAR).

That professional trade group promotes high ethical standards for members.

Hiring a brokerage to represent you in a sale is a costly endeavor, and reviewing the advantages and disadvantages can help you make the decision to hire an agent or use another sales method.

Pros of Using a Real Estate Agent

• Your licensed agent and their supervising broker have the training and experience to handle any issues that arise during the listing and sale.

• Realtors have access to a proprietary database of prior home sales that they can access to help you price your house.

• Your licensed agent is your legal fiduciary. That means they can handle the day-to-day marketing for your home so you don’t need to be directly involved.

Cons of Using a Real Estate Agent

• The average Realtor costs to sell a home total 5%-6% of the final sales price. That’s a major expense for the homeowner.

• Locating a buyer may take time, lots of time, if your home isn’t in turnkey condition. During that wait time, your agent will continue to show your home to potential buyers.

• Realtors generally have buyers who need mortgages to purchase a home. The lending process can take weeks to finally get funded. There may even be lender snags that add more days to that wait.

How to Find a Good Real Estate Agent

One reliable way to locate a good agent is to ask for recommendations from relatives, coworkers, and new neighbors.

You can also locate West Virginia Realtors by using the NAR Directories Search Tool available on the WVR website.

Once you have a list of a few agent prospects, you’ll need to vet them to ensure they have at least three years in the field and have had successful sales experience in your general neighborhood.

Skim community websites for reviews for the agents on your list. Yelp, Real Estate Bees, and the West Virginia branch of the Better Business Bureau (BBB) are good resources for local comments.

Once you’ve narrowed your list, contact the Office of the West Virginia Attorney General to ensure that the remaining agents haven’t been cited by the state offices for unprofessional conduct.

It’s then time to invite an agent to do a listing presentation that includes a specialized marketing plan for your home.

Professional agents typically have a portfolio that shows you samples of their marketing approaches and a list of recommendations. Contact a few of the former clients on the list to confirm they’re valid.

Keep interviewing until you locate an agent that you feel will be a good match for you and your home. Sign a listing agreement and complete the agency disclosure with that agent.

Our next sales approach is perfect for homeowners who like to do everything without the assistance of others. It’s the “for sale by owner” listing, also known as an FSBO.

FSBO sellers take on all the duties of a real estate agent.

The first step in an FSBO listing is to prepare the property for showings. The preparations for your house to sell to the public may require major time and effort.

The public wants to see turnkey-ready properties. They typically do not want to purchase a fixer, so you’ll need to do repairs and upgrading.

That might mean new paint and flooring and new landscaping, at a minimum.

Investors buy properties in as-is condition, so you can skip the prep when targeting that group as your buyers.

The next step is to set an asking price for your home. An online home value calculator can help you in that.

Local statutes don’t require sellers to complete a disclosure to sell a property in West Virginia, but it’s recommended that homeowners share material defects or health hazards their home may have with potential buyers before they make an offer.

You’ll then need to interview real estate attorneys to identify one who will represent you during the due diligence and closing processes.

The next step is to locate potential buyers! We have a few suggestions that may work in your real estate market.

Ways to Market Your House Yourself

• “House for sale” signs let the public know your home is on the market. Be sure to add ways to contact you to arrange a showing on each sign.

• Video shorts are a tool to use for prospective buyers to visualize your home’s features. YouTube and Instagram are popular sites for posting these shorts and reels.

• Provide printed flyers that list your home’s amenities for prospective buyers to take with them after a home showing.

• Low-cost or free ads can be posted on FSBO listing sites. This is a quick way to focus local attention on your home sale.

Pros of Marketing Your House Yourself

• Real estate commissions are the lion’s share of your closing costs in West Virginia. You’ll skip your side of the commission (but probably not the buyer’s agent’s) fees when you sell your home yourself.

• You make up the master calendar for your sale and have the final say on all elements of the transaction.

• You can put all of your efforts into selling your home, unlike a real estate agent that you share with other clients.

Cons of Marketing Your House Yourself

• Some West Virginia real estate regulations are not easily understood by FSBO sellers who lack real estate training and sales experience. This can create delays.

• You may end up being sued for an unintentional mistake, and one a Realtor would have caught.

• Certain Mountain State FSBO closing costs can be negotiated. You might miss out on these savings without the knowledge of how the process works.

• Setting a price for your home takes experience and knowledge of the current market. You may price too low and lose money. A high price might scare buyers away.

Our final entry to the list of sales methods is a concurrent sale, and it may be new to you.

This sales approach uses the services of a West Virginia iBuyer who’ll purchase your home so you can use its equity to buy another one.

You’ve found a wonderful home, but you haven’t even put your current one on the market?

The owners of the new house aren’t going to wait for you to list and market your house, so you need to move quickly to find another method to sell.

Here’s the important role iBuyers play. They’ll purchase your house so you can take that equity to buy your new wonderful home. Once that transaction has closed, they’ll then close on your current property.

Quick, easy, and no contingency sales involved that risk losing your new house because you’re still waiting for a buyer to appear for your current property.

That wraps up our list of how to sell a home in West Virginia.

Our last segment tracks a typical real estate transaction from before anyone visits the house for a showing through the final recording of the new property deed.

Before Signing a Purchase Contract

Preparing a property for showings is the most time-consuming task for many homeowners. Your target buyers, however, will determine the amount of prep required before listing.

Typical buyers from the general public want to see turnkey properties ready to move into without any major effort. They generally aren’t excited about fixers.

For those buyers, you’ll need to make the house move-in ready. That might include new paint, flooring, window coverings, landscaping, and even staging with rented furniture and wall art.

Investors, however, don’t need any prep. They buy homes in as-in condition, so you can skip all home preparations.

The next step is the general property disclosure. Although it’s not a state mandate, it’s a good idea to let your buyers know some condition issues about your home.

If you work with a Realtor, you’ll then complete the association’s Seller’s Residential Property Disclosure Statement to give to prospective buyers before they write offers on your house.

Our article, “Selling a Home As Is in West Virginia,” covers the state disclosures, as well as federal disclosure requirements.

You’ll then set your asking price and sign a listing agreement with a brokerage when you’re working with an agent.

Marketing the Property

Your marketing approach will also vary with your targeted buyer. The general public needs signs, print and virtual advertising, home showing, and open houses.

Your Realtor will develop a marketing plan for you that includes a combination of these things.

They may even add a broker’s preview or two where they open your home to other real estate professionals to walk through.

FSBO sellers need to develop and execute their own marketing plans.

Selling to investors doesn’t need any marketing. Simply make a request for an offer.

Accepting an Offer

Offers come directly to FSBO sellers and investors, while home sellers using a Realtor will have the agent field all offers.

Your buyers will accompany their offers with an earnest money deposit. These funds will be transferred to an escrow account when you accept an offer.

Buyer Due Diligence Period

Your buyers will be busy during the due diligence period. They’ll hire home inspectors, contract for title searches, and investigate other issues they may have with property zoning or use.

When selling a house in West Virginia, a real estate lawyer must oversee the creation and transfer of the property title. You’ll need to hire an attorney to handle the legal paperwork required during escrow.

A few days prior to the official closing, your attorney or the escrow agent will review the final closing costs with you.

You’ll note a fee for commissions and closing costs when you’ve hired a real estate agent to sell.

If you sold your home as an FSBO, you may have eliminated nearly half of the commission fee, but you’re still responsible for your closing costs.

Homeowners selling to an investor won’t see a bill for commissions or closing costs. Investors don’t charge commissions, and they pay the seller’s closing costs.

Your buyer has the legal right to take a final walkthrough of the property before the official closing.

Closing

You’ll need to have your licensed real estate attorney present to oversee the transaction closing. This is required under West Virginia state law.

Your attorney will monitor the required legal signatures and will notarize and then file the updated property title with the county clerk’s office.

You’ll turn over your keys and any codes to things like gates or security systems.

Those are the steps to close a real estate transaction in the Mountain State!

The next move is yours. You’ll need to determine the method you want to use to sell your home.

You can begin the process by collecting names of real estate agents and investors.

We’re here to help with your list of prospective investors. We have local professionals who have been vetted for their expertise and experience in closing sales.

Request cash offers by using our website. Simply fill out the short form, and we’ll share that information with our partnering investors.

There’s no fee — you won’t pay one cent. And there’s never any obligation or pressure to sell to any of the cash home buyers making offers.