You Could Sell Your $300,000 Home in 3 Days Through This Home Buying Platform

It pays to give it a look.

Although it's very much a seller's market these days, the idea of having to find a real estate agent, list a home, and negotiate with buyers can be overwhelming. Plus, even if you manage to find a buyer quickly, there's no guarantee that the sale in question will go through.

You may find a buyer who looks good on paper, only to find that they can't get a mortgage. Or, your buyer might make unreasonable demands following your home inspection, thereby killing the deal at hand.

If you're stressed about the idea of selling your home and want to do so quickly, it could pay to check out a new online platform. Though it's a less conventional way to sell a home, the upside could be substantial.

Should you sell your home online?

The idea of selling a home online may seem strange to you. But people are doing it thanks to a platform called Opendoor.

With Opendoor, you simply input some data to get a preliminary offer on your home. From there, you do a video walkthrough to get an official offer you can close on. Opendoor says on its website that you can close on your home in a matter of days. With a traditional home sale, you can easily wait weeks or even months to close on a home.

Plus, with Opendoor, you might save money in the course of selling your home. That's because you won't have to pay to stage your home, nor will you have to pay for repairs that might otherwise turn buyers off. Your Opendoor offer will take the current condition of your home into account. And you won't need to deal with the hassle of hosting open houses and having potential buyers come traipsing around your property.

Now to be clear, your Opendoor sale will still come with fees. You'll pay 5% of your home's sale price. But that's comparable to what a real estate agent might charge you. And since some agents charge higher fees, you could reap savings.

Is there a downside to selling your home online?

These days, there may be a downside in going this route. Right now, there's a serious lack of homes on the real estate market, so sellers are commonly outbidding each other for the properties that are available. If you sell through a platform like Opendoor, you could end up with a lower sale price because there won't be any competition.

Also, buyers will often let their emotions dictate their offers. If a buyer sees your home and falls in love with it, or has a reason to want to move to your neighborhood, they may offer a higher price for your home. A platform like Opendoor won't offer the possibility of that same connection and might therefore give you less money.

But if your goal is to sell your home as quickly as possible, then using a platform like Opendoor could be your best bet. And what you lose in terms of sale price, you might gain in terms of not having to stress the process as much.