Home Owners

 

Home Owners

The two biggest considerations in selling your house is if your house will be move-in ready and how fast you need to sell.

Move-In Ready

If your home is move-in ready and loan ready, you will probably get the most for your house going through a licensed Real Estate Broker.  Not just any broker.  Shop around.  qualify him like you were hiring an employee!

Many think they can save the commissions by selling themselves, but usually they have trouble selling and end up selling for less than they would have if going through a broker.

If your home is not loan-ready and move-in ready, you will sell for a higher price and faster if you get it loan ready right away.  Either do the work yourself or hire it out.  Just make sure it is done professionally and neutral.  You may want to hire your realtor first and consult with him, then do the required repairs with your realtors guidance.

Fast-Sell

If you need to sell fast, you really need to discount your house to a fast-sell price.  Especially if your house is not loan ready, you will need to deep discount your house for a quick sell.  Very few buyers want a house that is not move-in ready, and most loans will not be approved.  I have had to unload houses quickly due to very expensive financing, and I was forced to discount up to $30,000 to get it done quickly.  In the end, the relief of getting it off my plate and getting the lender off my back was well worth it!

Another factor in the fast-sell is the financing.  Mot buyers will come in with bank financing and financing contingencies   You should expect 45 days closing time whenever there is financing.  You might be able to chop this a few days, but then you risk the P&S (purchase and sales) agreement falling out of timeline and out of contract!  Also, the potential buyers may not attain the needed financing once you get down to the tail end.  Then what?  Start over again, re-market, renegotiate, another 2-3 months gone!  This is why many home owners who really need to sell fast go to investors who offer fast-cash closing.  Fast-cash closings do not use bank loans like FHA and VA.  They might use hard money or private money, but these are much easier to close with, and the timelines are greatly reduced.  Sometimes investors can close in less than a week!

 Posted by at 8:35 am

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