Cash for Home Fast in Virginia (757) 750-0200

How much does it cost to sell a house fast in Virginia ? Well that’s what we’re talking about today and we are starting right now. If you’re looking to buy, fix and flip a home or really need cash for home in Virginia, then this is the post for you.

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So how much does it cost to sell a house fast in Virginia?

Assuming that you are going to hire areal estate agent these are the typical expenses that you’re going to incur in Virginia.

#1: you’re going to pay the commission to the real estate agents involved in the transaction.

You hire an agent and you agree to pay them X percentage of the sales price of the house.

This is a very common situation, these days; and it will become an epidemic.

There are millions of adjustable rate and Option Adjustable rate mortgages that will be "resetting" to a normal interest rate as their "teaser rates" expire over the next couple of years.

This will put severe financial pressure on families who were able to buy their homes only because of those artificially low payments in the first place.

Many will be unable to refinance or even sell their homes because of the looming glut of homes on the market and the stalling of price appreciation.

Many of these people have little or even negative equity in their homes, which compounds their difficulties as realtors will not list their homes, as they see no way the home owner can pay their commissions.

These people also have little to no flexibility to reduce the price of their properties because the mortgage payoff and the closing costs will require them to bring cash to the closing to buy their way out of their homes.

Also, these homeowners will have a diminished fervor to stick it out through the hard times just around the corner if they have no equity, abandoning their homes and adding to the greater problem.

The ultimate nightmare is for people in this situation to be forced to sell their homes for financial reasons. They are headed straight to financial ruin; bankruptcy, foreclosure or both.

Selling a house is a Marketing problem. If I recall from Marketing 101, a product will be successfully sold when you position it as the most competitive product in front of the largest possible market. Painting the porch is not going to make your house the most competitive; everyone else is painting their porch too.

What if you could offer your house for sale and the buyer did not have to qualify for a new mortgage, do you think that would make your house stand out from the rest of the competition? This one change would also double or triple the size of your potential market of buyers. There is a "shadow market" of people who would love to buy a house like yours only they will not or cannot go through the "inquisition" of being qualified for a bank mortgage. These people include small business owners, self employed professionals, including real estate investors; foreigners and, yes, those with stinky credit!

They have the cash to put down and the ability to carry the payments, they just don't want to hassle getting a mortgage and they will be very grateful to be given the chance to buy a property with no bank involvement. How grateful? We have found that they will jump at the opportunity, pay 15-30% more than the appraised price of the property and will also pay a higher monthly payment as well, which can spell P R O F I T in addition to a quick sale at or above market value. There is only one way that will allow you to sell your home without paying off the mortgage and that is with a properly structured land trust. The trust will prevent the bank from foreclosing on your mortgage for violating the due on sale clause.

An added bonus is that when you sell the property in a land trust, there is no tax due on the gain; especially important if it is an investment property or a residence that has appreciated beyond the statutory exclusion of $250 or $500,000. Now, you can sell your property quickly, take a nice down payment, receive hassle free monthly payments; in excess of your mortgage payments for years and possibly another lump of cash when the buyer sells the property or refinances your mortgage. I say, "hassle free" payments because you will have no tenant, toilet or trash responsibilities to the new buyer. You don't call the bank that holds the title to your car if your water pump fails, do you? This has been the way out for many of our clients who were trapped in their homes and can work for you as well. Discuss this option with your realtor or lawyer.

When the buyer comes along if they are represented by a different agent your agent pays that person.

Now I’ve done a whole other video about where the commission goes.

If you’re interested click that but just know that we do not keep the whole thing ourselves.

Wholesaling

We are splitting it with the other agent, we are splitting it with our brokerage, we are paying all of the marketing expenses, so don’t go thinking that we’re all millionaires because that’s not really how it works.

#2: you will have to pay the property taxes for the time that you lived in the house.

After the property changes hands the buyer will pay that.

If you’ve already paid your property taxes for the whole year then from the date of your closing to the end of the fiscal year you’re going to actually get are bate because you’ve already paid those property taxes and the buyers should be paying them.

So you’ll get money back.

In the Georgia market it’s very common that buyers ask you to pay their closing costs or at least a portion of it.

We have a lot of first-time buyers and nobody puts 20% down any more.

I mean people don’t have $100,000 just sitting in the bank waiting to buy a house as a general rule, so they may ask you, “Hey can you chip in $3,000 towards my closing costs?” They will probably also ask you for either a home warranty, a termite bond, or both.

As you know living in Georgia there are two types of houses -those that have termites and those that don’t have termites yet.

So we typically like to have some sort of pest control plan on our homes so that that doesn’t happen.

When the buyer comes along they’ll say, “Hey, I want you to transfer that termite bond to me so that I can live in a house for the first year and not worry that the house has termites or is going to have termites very soon.

“Now let’s say the buyer moves in and the first Thanksgiving that they have all their family come to visit the stove breaks.

Yes, this actually happened to one of my clients.

The home warranty company comes and if they can’t repair the stove they buy them a new stove.

So it’s a great thing for the buyer to make sure that they’re not going to have any unforeseen major expenses the first year that they live in the house.

A home warranty is typically somewhere around$500.

Now if you decide to sell your house for sale by owner you will not be paying the real estate agents commission.

Instead you’re going to be paying for all of the marketing of your home.

Just a for sale by owner sign in your front yard is probably not going to get the job done.

The people that buy for sale by owners are looking for a great deal so they’re gonna come and offer you far less than the actual market value of your house as a typical rule.

You’re going to be paying for the photographer, for the video, for the drone photography, for all advertising, you’re gonna have to put a nice sign in the yard, you’re going to have to show the property every time somebody calls you to make an appointment.

Beach Homes For Sale

So the money that you save in the commission you’re going to be incurring a lot of additional costs in marketing and in time, where it’s going to be all on you.

You don’t have an agent who’s doing all this stuff for you.

So now you know how much it costs to sell a house but do you know what your home is valued at? Do you know what your market value is?

Because half the time your neighbor might tell you, “Oh we sold it for300,000!” But they actually sold it for $289,000.

I’m just saying sometimes people have the tendency to exaggerate just a little bit.

So if you’d like to find out what your home is worth because you’re thinking of selling in the next six months or so, click this link.

We would be happy to do a free no-obligation home valuation analysis for you so that you can really sit down and say, “Okay, if I sold how much money could I expect to make?” Because that’s a big factor in deciding is now the right time to sell or should I wait a year or two? Thank you so much for watching and I will see you on the next one.

Can I Sell My Home as is in Virginia ?

Apartments For Rent In

Real estate is a complex industry, so much so that many who venture into it as aspirational agents struggle to build their clientele or close sustainable commissions. Not due to a lack of skill, but rather, the very nature of the home transaction process. Whether you’re buying, selling, or representing someone doing both, there are many challenges that can potentially upend any deal, be it an abundance of appraisal and repair contingencies or a basic lack of communication.

It’s this reality that causes many realtors to warn buyers and sellers against going into a home transaction without an agent. They caution, justly, that recent industry trends and longtime realities, like increased competition from buyers overseas, tightening mortgage lending criteria, and densely worded legalese making going it alone a serious pitfall, especially for first-timers.

It’s important to note, though, that there are very clearly biases on that end of the argument. More independent home sellers mean less business for various agencies. Losing a standard 6 or 7 percent commission may not seem like much when put in those terms, but if you’re an agent facilitating the sale of a home listed at $450,000, that’s $27,000 in lost commission. Now imagine you’re a realtor that loses multiple deals like that because your clients opt to sell FSBO. It’s easy to see how you would quickly become disenchanted by the idea.
 

FSBO Statistics Can Be Deceptive

Recent survey data present a mixed bag regarding the efficacy of FSBO sales. According to the National Association of Realtors (NAR), less than 10 percent of all home sales are FSBO, which sounds damning, until you examine the nature of most agent relationships with buyers and sellers. Often, instead of paying a realtor full commission, sellers will pay a flat fee to real estate professionals to list their property on a multiple listing service. However, even those relationships are grouped into the “agent-assisted” category, which skews and confounds the data immensely.

The data from a later survey by Redfin provide better insight into the driving motivations for FSBO sellers and home sellers in general. According to the survey, nearly 60% of all home sellers receive a discount on realtor commission, totaling, on average, a 40% fee reduction. It’s clear that, regardless of whether a home buyer or seller opts to go solo or hire an agent, their intention is to net the most money possible. Selling FSBO will allow you to do just that.
 

FSBO Sellers Enjoy More Control Over Their Home Transactions

Not only do FSBO sellers have more money for home inspections and renovations, but they also have greater negotiating flexibility and control over how their home is marketed. These are huge advantages, but only when capitalized on. For example, one of the most interesting statistics presented in the NAR findings is that over 70% of FSBO sales are primarily marketed through either yard signs, or not at all. This, more than any other factor, contributes to the huge discrepancy in FSBO sales. It’s not due to an inherent flaw in the process, but plain inaction.

If you are adept at social media engagement, videography, or photography, you can absolutely create a marketing plan that rivals one you may get from a realtor juggling multiple property deals. Another advantage of not hiring a realtor is being able to apply your own intimate knowledge of your neighborhood to entice prospective buyers. Unlike a realtor who serves multiple neighborhoods or an entire region, you may have more knowledge about current and future area development, or marquee amenities, like a great school district or quiet neighbors. A realtor that only works in your area sparingly may lose sight of these details, or fail to leverage them properly.

For instance, if you live somewhere that experiences a lot of severe weather, siding and windows are especially crucial home features. While homeowners in other areas of the country may judge these fixtures by their aesthetic, those living in Tornado Alley or on a coastline place more stock in their durability and impact resistance. If you’re selling FSBO, you likely know every square inch of your property (and its renovation history) like the back of your hand, and there’s no one better to convey those details than you—without a middle person.

10 Steps for Staging Your Home on a Budget

Selling A House

Kris Krohn with REITV.

Today we're gonna talk about the absolute best time to sell a house.

So when is the best time to sell a property? Well, the truth is it depends.

If you bought it the right way, then anytime should be the right time.

However, will there be times in the market that are more advantageous than others? Try this one for a minute: Consumers and investors usually follow separate andopposite tracks.

So when all the consumers are buying up real estate, do you know what investors are typically doing? That's when they're selling! When everyone is in this buyer's market, that's when you can usually sell for the highest price andthat's when investors wanna trade into different properties.

But the opposite is also true.

When all ofthe consumers are dumping and saying "The sky is falling and it's the worst investmentthat we saw in '07 and 2008 and 9 and 10!".

What were investors like me doing? We're buying up everything like crazy! WarrenBuffett - he had his own hedge fund at the time.

He was buying 30.

40,000 homes peryear into the markets that actually were totally decimated.

So, best time to sell a home is really atthe market high before it falls out is when you're going to really cash in on top dollar.

But if your strategy requires that, then you may have in fact, the WRONG strategy.

Becauseif the market is ever turning and moving it away that it's not advantageous for you, youshould be able to continue holding that home, cash flowing it, and continuing to make moneyon it.

This is one of the reasons why one of my manyrules in real estate is that I buy below the median.

Why do I do that on my short-termbuy and holds? Because if the market ever turns AGAINST me, I'm gonna keep on cash flowingthat property and those lower-priced homes - they don't lose value like a million ora half a million dollar home does.

So Warren Buffett has this principle, right?He calls it the margin of risk.

And really when you talk about the best time to sella house, I wanna draw attention to how Warren Buffett has become a multi-billionnaire andthe, one of the greatest philanthropist of our day and age; all based on a very simpleprinciple you may have heard called Buy Low, Sell High, okay? Warren is a really great example if you readhis book Snowball, of an individual that really live his principles.

He says if you wannareduce your risk, you gotta increase your margin of profitability.

So it's real simple:If you buy a house as an investor, you buy it with a lot of equity 'cause if you do,whether it's the wrong or right time to sell, you can sell profitably! Understanding this principle is key for thisnext part: If you buy the right house, you can sell itanytime for great profit.

I've got an example here of the house that I've just recentlysold.

This is a house that I sold in.

purchased in '05 and sold in 2015.

So I've held ontothis house for 10 years and here's some background on this house: I actually leveraged a partner'smoney and a partner's credit to buy this house.

So how much money was I into this deal? Iwasn't in it at all.

And I used my staff and my team and we basically lined it up.

Now I have here the HUD.

This is actuallythe closing documents on selling this house where I received as you can see here a $38,986check.

But here's the summary on this spread that I wanna point out.

I purchased this house in 2005 and we boughtit for $109,000 and a down payment of 10% was $1,069.

My expenses over the life of holdingthis was 70,000 but my income was a 107.

What's the difference? Roughly $37,000 that we gotto make in cash flow and to down payments, deposits, along the way.

Then when we soldthe house, we collected a check for $28,000 that me and my partner got to split afterI paid back my partner the $9,000 that he put in.

So he put in the money, he got paid back.

So basically there's 28,000 of profits to split, there's 37,000 that was made alongthe way, 37 and 28 is roughly $65,000, okay? So this tiny little house - 4 bedroom, 1 anda half bath, did a good job taking care of me.

Now let's just for a moment take a look atthe ROI.

I could've sold this house at any time but why did I sell it now? Well, it'sbeen a cash cow.

The little bit out, how do I know it's a cash cow? For a moment, takea look at the ROI! We put in $9,000 but look at what we got out? $65,000! That's a 720%increase.

Now, divide that over holding the home for10 years and that is 72% a year on your money.

Now, my business partner and I made 72% ayear based on whose money? His money! He's.

he and I get to split the ROI 36% each.

Butlet me ask you, if I put no money in, what is my real net ROI? It's infinite! Think aboutit.

I didn't put anything in, but I got all of that money coming back out to me.

So this is an example of 'I could've soldthis house at any time.

It's been cash flow cowing.

Why did I really sell it?'.

Becausethe market was right! What do you do when the market's wrong? Just keep making moneyand keep cash flowing! When you do real estate the right way, itcan always be a great time to buy, hold, or sell.

which is why I love short-term buyand hold strategies 'cause I get to make my money along the way.

I hope you've enjoyed today's video on thebest time to sell your house.

Put some comments below! We'd love to respond and give you thehelp that you need as we work on turning you into a brilliant, bright, and successful realestate investor.

Sell By Owner

Slatewood Properties
109-G, Gainsborough Square #712
Chesapeake, VA 23320
(757) 750-0200

Cash for Home Fast in Virginia (757) 750-0200

I want to sell my house in Virginia – so where do I start?  Well let’s get into this topic so you can sell your house as quickly as possible.

So I want to sell my house – where do I start? Perhaps a new addition to the family, you need another room, maybe the kids have gone off to university and it’s time to begin to downsize.

Well as these changes have come about in your life and you’re considering the next step, the first step you need to take is to make sure you get a good realtor to help you in this process with selling a house fast in Virginia. 

There are a number of ways you can go selling a home.

One way is you can ask a friend or a family member that has dealt with a realtor recently and go with a referral like this, another way is just to call a few of them and interview them and just see if there’s a good connection between you all, but whatever you decide and however you go about this process, it is important that the realtor you find is a realtor who can aggressively market your home.

How To Sell Your House Fast in Virginia - Why Is My House Not Selling?

Now you can put it on an MLS which is a multi listing service, your Realtor will help you do that, that’s not a problem.

We will all do that and just wait for the right kind of traffic to come across this and there you go, you’ll find somebody that may be willing to put down what you want or enter into negotiation for that house that you’re going to sell fast in Virginia.

But if you find a realtor who does more than this, a realtor who aggressively markets the house with various forms of media, that house is going to sell, and it’s going to be at the top of the pile and getting more traffic than homes that are just listed and using the old school method just waiting for traffic to go by and hopefully you’ll find somebody who will match up with the property well.

How much does it cost to sell a house in Chesapeake?

So choose wisely, make sure that you have a realtor who can do good marketing for your home.

So once you find your realtor it’s important to spend some time to speak to your realtor about your home and how you can better present that home.

Realtor Houses For Rent

You know today many people watch real estate programs on HGTV and various other stations and of course their expectations as a result are very very high. It’s ok that you want to sell my home as is in Virginia.

Talking about Model Homes and Selling Your Home Fast

Also many go to new builds and in those new build sites they have model homes and these homes are done immaculately so obviously their expectations are very very high.

But if you take the time to just walk through your home with your realtor, this can be very helpful. You’re almost ready to Sell Your House Fast!

If you do an assessment room by room you’ll know exactly what to take care of and this doesn’t necessarily mean that you’ll have to break the bank in order to do expensive remodeling or expensive staging of your home.

Just taking a little bit of time to take care of this in a good way with your realtor can make all the world of difference and get that home sold right away in Virginia!

In the description to this video you’ll find a link to our PDF on ‘How to Prepare Your Home for a Successful Sale’, this will really help you with this step.

We Buy Houses

Remember, it’s very difficult to change a first impression.

One of the most important things to get right is the pricing because you have to know that you can Sell My House Fast in Chesapeake or any area in Virginia.

Pricing your home right will determine whether or not it is sold quickly or it sits on the market.

This is a very common situation, these days; and it will become an epidemic.

There are millions of adjustable rate and Option Adjustable rate mortgages that will be "resetting" to a normal interest rate as their "teaser rates" expire over the next couple of years.

This will put severe financial pressure on families who were able to buy their homes only because of those artificially low payments in the first place.

Many will be unable to refinance or even sell their homes because of the looming glut of homes on the market and the stalling of price appreciation.

Many of these people have little or even negative equity in their homes, which compounds their difficulties as realtors will not list their homes, as they see no way the home owner can pay their commissions.

These people also have little to no flexibility to reduce the price of their properties because the mortgage payoff and the closing costs will require them to bring cash to the closing to buy their way out of their homes.

Also, these homeowners will have a diminished fervor to stick it out through the hard times just around the corner if they have no equity, abandoning their homes and adding to the greater problem.

The ultimate nightmare is for people in this situation to be forced to sell their homes for financial reasons. They are headed straight to financial ruin; bankruptcy, foreclosure or both.

Selling a house is a Marketing problem. If I recall from Marketing 101, a product will be successfully sold when you position it as the most competitive product in front of the largest possible market. Painting the porch is not going to make your house the most competitive; everyone else is painting their porch too.

What if you could offer your house for sale and the buyer did not have to qualify for a new mortgage, do you think that would make your house stand out from the rest of the competition? This one change would also double or triple the size of your potential market of buyers. There is a "shadow market" of people who would love to buy a house like yours only they will not or cannot go through the "inquisition" of being qualified for a bank mortgage. These people include small business owners, self employed professionals, including real estate investors; foreigners and, yes, those with stinky credit!

They have the cash to put down and the ability to carry the payments, they just don't want to hassle getting a mortgage and they will be very grateful to be given the chance to buy a property with no bank involvement. How grateful? We have found that they will jump at the opportunity, pay 15-30% more than the appraised price of the property and will also pay a higher monthly payment as well, which can spell P R O F I T in addition to a quick sale at or above market value. There is only one way that will allow you to sell your home without paying off the mortgage and that is with a properly structured land trust. The trust will prevent the bank from foreclosing on your mortgage for violating the due on sale clause.

An added bonus is that when you sell the property in a land trust, there is no tax due on the gain; especially important if it is an investment property or a residence that has appreciated beyond the statutory exclusion of $250 or $500,000. Now, you can sell your property quickly, take a nice down payment, receive hassle free monthly payments; in excess of your mortgage payments for years and possibly another lump of cash when the buyer sells the property or refinances your mortgage. I say, "hassle free" payments because you will have no tenant, toilet or trash responsibilities to the new buyer. You don't call the bank that holds the title to your car if your water pump fails, do you? This has been the way out for many of our clients who were trapped in their homes and can work for you as well. Discuss this option with your realtor or lawyer.

The pricing of your home must reflect the true market value.

You know today many people have access to a lot of applications that help them see what’s on the market in a particular area, to know the homes that are there and what they’re being sold for, so it’s important that you do a little homework yourself, get informed of the market area where your home is located, find out how much the homes are being sold for in that area, but most importantly here is where you’re agent, your Realtor is so important in helping you get Cash for Home Fast.

You know yourRealtor is very informed of the market area, I mean this is what they do for a living day to day, they will be able to get the home priced right.

If the housing market is poor, like it is right now than selling your home fast is even more difficult. However, there are ways to increase the chance of people beating down your door so you can sell your house.

First, consider lowering the price the point to where the house can sell on cost alone. This might be difficult for some people to do because that is money that they are taking right out of their pocket. However, if you need to sell your house fast than this is going to get things moving more than any other one item. The irony is that in most cases if you set it really low, even up to 20% lower you most likely will start a bidding war for your home, even in today's market. So the price will rise close, if not over the value you would have placed on it. But you are going to have to have mental toughness to do this and most people just don't have a belief that it will work out this way.

Get yourself a storage unit and put everything possible in there. A house that looks packed will cause people to think it is small. A house that has less in it will actually cause people to think it's large and spacious.

Next add lamps, lights and increase the wattage of the other bulbs in your home to make the house glow. Light is one of the things that help people feel the house is alive and fresh, dark homes make people feel down. So brighten the room up with lighting throughout the house.

Although it's your home people are looking for a house, so take your personality out of the house. Family photos, religious information, work related information, etc. will take away the focus from the house and place it on the home.

People buy the kitchen, so place the focus on the kitchen and either do a light remodel with appliances or a full remodel with cabinets, countertops, flooring and appliances. This is an area of real importance in getting your house to move quickly.

Last, be ready to show it. People won't come when you are ready, they will come when they are ready and normally that means with a very short notice. Keep the house clean and clutter free so an agent can call and show with a moment's notice. Take the time up front to learn what you need to do to sell your house fast and you will increase your chances.

When Is The Best Time To Sell a House in Chesapeake?

That price will reflect the true market value

If your home is sitting way too long on the market, what’s going to happen is that a prospective buyer is going to start to think, hey what’s wrong with this house, why isn’t it selling and these questions are going to really cause traffic to diminish.  It’s tough to simply want to Sell My House Fast and expect to have eager buyers wanting to pay Cash for Home Fast too.

Research shows that between the third and sixth week of the marketing process that’s when the most potential buyers are attracted, so it is important that, first your home has the right pricing and second that there is good aggressive marketing behind it.

You want to maximize traffic that’s going to view your home, draw them in to visit the home and put an offer on that home.

As I mentioned earlier, the visual presentation of your home is very very important.

You know first impressions are very very hard to undo so you always want to create the best possible first impression.

For this reason I don’t recommend that you do mobile phone pictures.

Get a realtor who is going todo professional quality pictures.

You know today on search engines when people are looking at multi listing services and they’re viewing the pictures, usually when a picture is presented if it’s of poor quality they’re probably only going to view the first few pictures and they’re gonna move on to the next property, and this is something you don’t want to happen to your property.

Commercial Real Estate Agent

Getting good quality pictures will keep them glued to that screen and they can really consider your house the way it should be considered, and actually today even video production is a very important part of the marketing process, so if your realtor is able to produce a video for you, this is ideal.

You know this will really maximize the amount of eyes that will be looking at your property and considering it for the next purchase.

When it comes to marketing your home, gone are the old days of sitting in the backseat of your real estate agents car or following along behind and looking at multi homes.

Today the Internet has changed the whole experience for good.

Today people are on multi listing services, they are also watching videos that are aggressively being marketed through social media, so it is important that you’re estate agent, your Realtor is up-to-date with all the modern modes of marketing, so make sure you make this one of your criteria in choosing your real estate agent.

That way the right kind of marketing will be put forth and experience maximum exposure of your home and really entice those buyers to come and put an offer on your home and get it sold quickly.

If you found this video helpful, please subscribe, we’d love to have you on board with us, we have a lot of helpful videos coming out that will have information that you’ll find useful whether you’re a buyer or you’re interested in selling property.

Also share this with a friend and leave a comment in the comment section, also if you’d like to call me, call me at the number that you see below, I’d love to hear from you and talk property with you, also remember that there is a PDF thereon ‘How to Prepare Your Home for a Successful Sale’, anyway, until next time, all the best!.

Sell My House Fast For Cash – Can I Do That in Virginia?

Office For Rent Near Me

This is a very common situation, these days; and it will become an epidemic.

There are millions of adjustable rate and Option Adjustable rate mortgages that will be "resetting" to a normal interest rate as their "teaser rates" expire over the next couple of years.

This will put severe financial pressure on families who were able to buy their homes only because of those artificially low payments in the first place.

Many will be unable to refinance or even sell their homes because of the looming glut of homes on the market and the stalling of price appreciation.

Many of these people have little or even negative equity in their homes, which compounds their difficulties as realtors will not list their homes, as they see no way the home owner can pay their commissions.

These people also have little to no flexibility to reduce the price of their properties because the mortgage payoff and the closing costs will require them to bring cash to the closing to buy their way out of their homes.

Also, these homeowners will have a diminished fervor to stick it out through the hard times just around the corner if they have no equity, abandoning their homes and adding to the greater problem.

The ultimate nightmare is for people in this situation to be forced to sell their homes for financial reasons. They are headed straight to financial ruin; bankruptcy, foreclosure or both.

Selling a house is a Marketing problem. If I recall from Marketing 101, a product will be successfully sold when you position it as the most competitive product in front of the largest possible market. Painting the porch is not going to make your house the most competitive; everyone else is painting their porch too.

What if you could offer your house for sale and the buyer did not have to qualify for a new mortgage, do you think that would make your house stand out from the rest of the competition? This one change would also double or triple the size of your potential market of buyers. There is a "shadow market" of people who would love to buy a house like yours only they will not or cannot go through the "inquisition" of being qualified for a bank mortgage. These people include small business owners, self employed professionals, including real estate investors; foreigners and, yes, those with stinky credit!

They have the cash to put down and the ability to carry the payments, they just don't want to hassle getting a mortgage and they will be very grateful to be given the chance to buy a property with no bank involvement. How grateful? We have found that they will jump at the opportunity, pay 15-30% more than the appraised price of the property and will also pay a higher monthly payment as well, which can spell P R O F I T in addition to a quick sale at or above market value. There is only one way that will allow you to sell your home without paying off the mortgage and that is with a properly structured land trust. The trust will prevent the bank from foreclosing on your mortgage for violating the due on sale clause.

An added bonus is that when you sell the property in a land trust, there is no tax due on the gain; especially important if it is an investment property or a residence that has appreciated beyond the statutory exclusion of $250 or $500,000. Now, you can sell your property quickly, take a nice down payment, receive hassle free monthly payments; in excess of your mortgage payments for years and possibly another lump of cash when the buyer sells the property or refinances your mortgage. I say, "hassle free" payments because you will have no tenant, toilet or trash responsibilities to the new buyer. You don't call the bank that holds the title to your car if your water pump fails, do you? This has been the way out for many of our clients who were trapped in their homes and can work for you as well. Discuss this option with your realtor or lawyer.

How to Bump Up The Value of Your House Before Selling

Rental Property For Sale

Selling house is a very intricate process that needs a lot of understanding in the field of real estate as well as patience. If you think buying a house is a much difficult process than selling one, you are mistaken. This is because selling a house is an equally complex process, where several factors need to be taken care of at once. Starting with fixing the interiors and exteriors to finding the right buyer who can pay the right price, everything needs to be in order and as preferred for the deal to take place.

An Investment That’s Worth It

The real estate market is one of the most lucrative markets in terms of investment, because the kind of returns that the real estate market is known to give, other investment tools can rarely match. Whether you have an investment property that you want to shell out or want to sell off your current residence, looking for a price higher than the current market price is a common goal for most of the sellers. And, to an extent, this is legitimate as well because the price of the real estate property is going to increase with time anyway.

This gives the feeling to the sellers that their asking price should cover at least the next few years’ going rate. If the property is nicely and centrally located in a popular area, has sufficient space, is well designed, have all the basic amenities in place, is well maintained, and all the paper works are in order, asking for the higher price shouldn’t pose any problem during the selling process. In popular areas, there is always a high demand, and thus, finding the right buyer who can afford to pay a bit of a markup over the going rate should not be a problem.

 

Why You Should Look For Higher Price

Looking for a higher price is a common thing in the real estate market, whether it is the real estate agent or firm who is doing the selling on your behalf or is it the seller himself. To an extent, it is this practice of increasing the selling price considerably and frequently for just about every sale and every property is what has led to an overall boom in the real estate market. The reason why you should look for a higher price too is that it not only helps get you better returns on your investment but also helps sellers to pay for the ad hoc expenses during selling without having to compromise on their original asking price.

Things To Do To Bag A Higher Price

Even if your house is situated in a nice area, it is not always possible to bag a good price, because of buyers apart from considering the area, also considers many other factors. How is the house maintained? What are the problems that the house is facing currently? What are the fixes that need to be made? What fixtures need immediate attention? What would be the cost to repair and fix the problems existing in the house? Does the house need a paint job? And, so on.

These and similar factors would be considered by the buyers, and if your house is not well maintained, then forget about asking for the higher price than your house is worth, you would face a tough time asking for the current market price as well. This is because the aim of the buyers would be to cut out the repairing and fixing costs of the house from the asking price. To ensure that you are able to bag a higher price than your home is worth without having to struggle too hard, you need to take care of several factors –

  • If your house is old and it shows, do a paint job on the interior and the exterior to give it a new and fresh look. The idea is to make your house look attractive, both from the inside as well as outside to make the buyers with deep pockets fall in love with your property.

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  • Check for the fixes to be made in your house, whether it is your driveway that needs to be maintained, garden that needs to be mowed, washroom fixtures that need to be replaced, kitchen fixtures that need to be repaired or replaced, any electrical or water leakage that needs to be taken care of, and so on. Make sure that the house is in ready to move in shape so that the buyer does not find any fault or reason to compel you to drop the price.

  • Take attractive pictures of your property and post it on the internet on real estate buying and selling sites. Good high-quality pictures would attract more buyers, and more buyers would automatically help in increasing the chances of getting the right buyer.

  • Negotiate smartly and smoothly whether it is a real estate agent or the buyers. Do not sound or look like you need to sell the house urgently or you are in dire need of the money you will get by selling the house, even if that just might be the case. Desperation is an easy giveaway, and the smart buyers would easily read between the lines and try to take advantage of your financial situation to lower the asking price.

These are the few things you should keep in mind and do to get a higher price than your property is worth. It would need some research, effort, money, and time to get things in order, but it would be worth it. These few changes can drastically increase the price of the property.

Do Your Research

Before you go in to sell your property, you need to do your research about the current market price in your area. What are the prices other similar houses in your area are bagging, what the asking prices for similar properties in your area are showing online, what are the advantages that your house has over other properties that can help bag you a higher price, and so on. Researching would help you give the knowledge about the property and also help you negotiate well during interaction with the agent or the buyer.

Also, make sure that all your paperwork is in order, all financial obligations over the house are cleared, and all the dues are paid such as house tax, electricity bills, and so on. If there are any legal disputes over the property, make sure to get rid of them before you considering selling the property. You should also consult with the real estate agents and firms in case you have any doubts about the going rates, and can ask them about what can be done to get a better price.

How To Market Your Property To Attract Right Buyers

Marketing needs to be done in the right way to attract more buyers. In the otherwise case, even if your house is well maintained and in good condition, there would be lesser numbers of buyers coming up and showing interest. You need to market your property well to reach out to potential buyers who can afford to pay the price you are looking for.

Most of all, when you are looking for a higher price than what your house is worth; you need to have a lot of patience. It will take a considerable amount of time and effort, but the wait would be worth it. Sometimes finding the higher price is not a difficult task, and sometimes it can take longer. In any case, you need to stick to your price once decided to be able to get it, even if it takes a long time. 

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