HOW HOME OWNERS CAN SELL THEIR HOUSES FASTER
When making the decision to sell their home, most homeowners automatically begin by contacting a real estate agent who will market their house for them and organize the legal details of a sale when that house is sold.
This can be a smart decision in that a good real estate agent is an expert in the legal aspects of the sale and will have marketing resources so, if you have no problem in waiting for the average time it takes a house similar in age and condition to sell and too busy or not interested in being involved yourself, you’ll be in good hands.
Some home owners, on the other and, prefer to market their house themselves. If you are in this group, we would encourage you, when you do find your buyer, to be sure and close your real estate sale through a good real estate attorney to improve the chances that the sale will be free of legal issues later on.
HAVING YOUR HOUSE MARKET READY
Whether selling through an agent or as a for-sale-by owner (FSBO), you’ll find your house attracts much more interest from serious buyers if it has been thoroughly cleaned with any needed repairs made, freshly painted and with kitchen and bathrooms remodeled to high standards.
It’s not that your house won’t sell without these improvements but without them, qualified buyers who are drawn to the “sparkle” of other houses may easily overlook your house, so the “wait time” to find a buyer could spread over many months of continued mortgage payments and delays in personal relocation plans.
For most people, trying to make those renovations themselves could easily take several times as much time and money as they originally estimated and, even if using a contractor to do the renovations, living in a house with no working kitchen or bathroom for weeks or months, with sheet rock dust settling on everything in the house is very inconvenient to say the least.
And then there’s the question of your timetable. What ever your reason for wanting to sell… job loss or transfer, need for a smaller or larger house, desire to be in another location, problems making payments… once you’ve decided you want to move, every day your house doesn’t sell is both a monetary and emotional drain.
FOR HOME OWNERS WANTING A QUICK SALE
If you find yourself in this “want to sell fast” category, it would be good to keep in mind an option many home owners have never considered, the sale of your house to a Real Estate Rehab-Investor.
Real Estate Rehab-Investors buy houses at low market prices, renovate them, often to a much higher standard than that house was when it was new, and finally rent them out or sell them in their improved state.
Rehab-Investors must take a calculated risk, based on their training and experience, that they can acquire a property, make suitable improvements and finally market that property within a short enough time period to pay their expenses and make enough profit to justify the risk, work and costs.
In today’s market, there are many houses for them to choose from but, if you want a quick sale, they are a resource you may well want to consider.
HOW DO YOU PUT A PRICE ON PEACE OF MIND?
Two points are worth considering if you’d like to sell to a Rehab-Investor. First, your selling price will need to be low enough so they can do all the work they’ll need to do to include the risk they’ll be taking on, and still make a profit.
It’s good to keep in mind here that when coming up with your selling price, you’d logically look only at the selling prices of homes similar to your and then subtract the cost of renovation of your house, the cost of marketing your house and finally, an additional amount for profit for the Rehab-Investor.
It can also help is you can contribute to the ease of purchase by offering to carry back a second when the house is sold, to allow the Rehab-Investor to reduce their out-of-pocket cash requirement as they’d need that cash for the repairs. Considering that they will be increasing the value of the house once they begin work on it, your second loan becomes even better secured.
There is also a lending source for Rehab-Investors that you may want to tell your potential buyer about. This is an organization that works specifically with Real Estate Investors, for non-owner occupied properties only, and will loan up to 65% of the purchase price or appraised value, which ever is lower. The link to their website is: http:// www.PrivateMoneyExchange.org/aff/welcome
[Disclaimer: Please note that this we deal with this organization both as clients ourselves and as affiliates, and therefore may or may not receive compensation for links coming from our site. We have met and spent time with the management of this company an consider them to be highly ethical.]
We hope that there has been some information worth your time in reading this article and that the information here might help some of our readers to make better informed decisions when it comes time to sell their house, and especially for those who may need to sell their house quickly.
We welcome your questions or comments and wish you the best in your investing.