Selling your home can be a daunting task. Sure you can sell your home quickly in a market where everything is selling quickly. But what if you don’t have the time nor the energy to sell your home the “Traditional” way? You know what I am talking about. Put up the sign, place the ads on Facebook and Craig’s list.
The process of selling a home is very time consuming. However, it can be done. You could always hire a professional, i.e a Realtor to assist in your sale. There are many thoughts on this subject as well. Should I hire a Realtor or should I attempt too sell on my own as a For Sale By Owner (FSBO)?
In past posts we have looked at this very topic. As a quick refresher, it really depends on the following factors, time, market knowledge and negotiation skills. Though hiring a Realtor doesn’t mean that you will get the best negotiator or the best firm for market insight. It simply means that you may get a little better protection legally during the transaction. Truth be known most Real Estate don’t have negotiation and sales skills, they have people skills and a licences. ( some of therm don’t even have the people skills)
I’m not beating up on Realtors, I’m simply pointing out that Today’s agent is what I call the “Facilitator” They know what title companies, mortgage companies, inspectors in their market that can assist you in the transaction. They will help you get the property priced right. Priced so that it sells. However, all of this information is available. ( If you have the TIME)
Selling A Real Estate Property Takes Time
So you armed with all the information you need to sell your home. You are motivated to save the commission and prove to yourself that it couldn’t be that difficult to sell your home in a market where everything is selling. But, where do you find the time to do all the research? How will you get all the repairs completed so that you get the maximum price? What about showing the property? During this time of COVID-19 how are you going to safely show the property?
Wow, this all of a sudden became a lot of work. If I told you that there was another way that you could sell your home fast for cash… Well, there is. But it will take some time to find out how quick and easy it will be to get to that cash. Let’s look at some options. But first, no matter which way you ultimately decide to go, there will be expenses involved. If you own a property that has a value of let’s say $100,000 and you list that property will a Real Estate agent. the average commission will be in the range of $6000. If and when the Realtor brings you an offer, the buyer will more than likely be an FHA or VA buyer. This simply means that they will ask you as the seller t pay part of their closing cost. (expenses to close the loan sometimes called concessions)
Expenses Can Run Very High
These expenses could run another 3%-5% of the sales price or let’s say $5000. In many cases the property you are selling will need some repairs. A roof may be $7000-$9000 an AC unit may be another couple of thousands. At this point you may be looking at a total cost of nearly $20,000 just to sell a $100,000 property. Now you may be thinking ” My property is in great shape”. Well in this scenario, the minimum would be around $11,000 in cost to simply complete the transaction.
So here is Option 2. Sell it on your own. It may all of a sudden be very motivating to spend the time to do the work that’s necessary to sell the property yourself. Keep in mind that you will still have the cost associated with any repairs that the bank requires you to complete prior to closing and the costs associated with your FHA/VA buyer. ( 3%-5% of the sales price)
Option 3. Sell your property or home fast for cash. So where do I find people or buyers that will buy my property for cash fast and as quick as possible? The good news is there are plenty of individuals and investment companies that will pay you cash and close at a very quick rate. You won’t pay a commission, you won’t be responsible for any expenses,or loan coast for the buyer. In addition, if the property is in need of repair you won’t have to fix anything.
Evaluate Your Options
Here are my guidelines for option 3.
Is the property in need of any repairs?
Do you have the time or energy to sell the property yourself?
Is the property vacant? Are you making payments that are difficult to meet?
Do you live in another state where the property is becoming difficult to manage?
Is this an estate property?
If any of these apply to you, then selling For Cash Fast could be your best option. With all of this in mind, how would I find Cash Buyers for my property? Below I have listed a couple companies that will make yo a cash offer and close in a very short period of time.
There are plenty of companies out there that will make you an offer on your property. start with the above two and make a decision from there. Keep in mind that all real estate investors will have a different set of critera that they will go by before making you an offer. They may only invest in waterfront, or only want single family homes . So take your time make a few phone calls and I am certain that within a few days you will have made the right decision for you.
Selling a property can be a difficult task. At the end of the day its really about your bottom line and your time. with properties that are being marketed under normal circumstances then maybe a traditional approach is best. But where there maybe some extenuating facts like , job loss, vacant, out of state ownership etc, finding a s cash buyer/investor is probably a much better approach.
Reach Out, We Are Happy To Help
Here’s one other thing to consider. Your credit is extremely important as well. Don’t damage it unnecessarily. You have options. review the sites I listed and let us know if there is anything else we can do to assist you.
We are photographers. But, we are former Real Estate Agents as well as investment advisors.