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.
Hey everyone, welcome to VirginiaInvesting.
If this is your first time visiting our site go ahead and hit the subscribe button and click that little bell for notifications because you know, you’re awesome and I’m awesome so let’s be awesome together.
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.
- [Announcer] Welcometo Homebuyer's School brought to you by Brookfield Residential.
- Hi everyone, andwelcome to another episode of Homebuyer's school.
Today I'm joined by Kevin French with ReMax Realty and thequestion we're going to answer is can I sell my home without a realtor? So Kevin, obviously you're a realtor.
Maybe a little biased answer but is it possible to sell your home without a realtor? - Absolutely.
It's typically better to do that in a seller's market,instead of a buyer's.
Currently we're in a buyer's market so the advantages weighingon the buyer's side, it's much more difficult to sell so if you're not aware of how to properly market your property, price the property, then those things are going to work againstyou, especially right now more than ever.
- I guess you need asmany resources as you can to help you sell your home.
- Okay and if I were totake that route though, if I wanted to sell the house on my own, what are some of the steps Iwould do to accomplish that? - So there's multiple site,obviously you can find things such as Kijiji or Forsalebyowner and you can list it on those, or you can look for assistance through Property Guys, ComFree.
Property Guys is a private system.
Your property wouldn'tbe on the MLS system but most people are aware that it exists so they can search thereif they are looking for a property.
And then with the ComFree option, the property would be on MLS so you take a package that they offer, and then you would listthe property with them.
They would coordinatea portion of the things for you and then it would be on the MLS and then you would help with the showings and organize all that, deal directly with whoever'slooking to purchase, whether it's a realtoror a single individual.
And then once an offer is received, then that would be part on the owner, who's selling the property themselves to set a price they are comfortable with but they would have a bit of assistance from ComFree.
- Okay, but you're takingcare of everything though.
Like booking those appointments or people calling youto say hey, I want to come visit your home.
- Making sure the home is show ready.
Making sure that it's showingin the best possible way.
Making sure that you'retaking care of everything that you want to make surethat you're taking care of.
Those little small detailsmake the biggest difference.
The biggest thing thatneeds to be considered is pricing.
I often list a property,I go in and let's say the property is worth499,900 and the person happened to have purchasedit in peak market in 2014, so they owe 520.
So now all of a suddenthey want to list for 549.
So they tell me if I list at 549, then we'll negotiate down to540 and then after the fees we'll be somewhere in the ballpark of paying it off.
Well that doesn't change market value.
So you can't really do that.
So what happens when you leave the sale in the hands of the person trying to sell the property and they're trying to do it on their own,they may take that route where they're trying to look for, well what are the expensesthat I need to cover and then that's what we'll price the home which has nothing to do with market value.
- So you're saying you mightleave some money off the table? - Well, the property, if you do that, if you overprice it, it's just going to sit on the market longerand then it's going to become stigmatized and then when it does actually sell, which might be years later or you might choose to list with anagent shortly after, being unsuccessful trying it on your own, then the property would sell at fair market valuebut now people are going to see that in the history.
It sat on the market for three months, or it sat on the marketfor a year, who knows? - When it could have sold-- - When it could have sold much sooner and probably for more money.
- Anything else to add? - No.
- Awesome, well thank you very much Kevin.
That's it for our show today.
Thank you very much for joining us and we'll catch you next time.
- [Announcer] That's another edition of Homebuyer's School.
Tune in next time for moreexpert tips and tricks and visit homebuyersschool.
Ca to bring you one step closer to finding your dream home.
As with everything, it would be great if you like and share our videos.
Also, please let us know if you have any home buying questionsyou want us to answer.
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.
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.
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 ?
If you are not sure about how quick your house might sell, you may be wondering how soon I can sell my house fast. I'm sure you will come across people who have struggled to pay their bills, credit card payments, and some people need to remortgage their property to fund a business venture or pay off loans to ease financial burden.
Up to 2008 most people considered their homes to be assets regrettably this was turned out not to be the case when property prices went south. For homes they bought in 2007 could be bought in 2008 for at least 15% cheaper and therefore, these homeowners owed more on the mortgage than what their house was worth on open market. Great news, is that we can help you buy your property fast even if you're facing negative equity!
So what do you do if you're facing negative equity and perhaps thinking of handing keys back to the bank? There are many quick house buying companies out there who claim to promise you the earth but when it comes to buying your home fast, they will refer to your their partner i.e. people who will pay them to buy your details. This is not a good idea and we feel it is unethical practice to give vulnerable sellers a false sense of security. But, what options are available if I need to sell my home fast and move on hassle free?
I need to sell my house fast - what steps should I consider?
- Selling your house for cash could be the answer to releasing all the equity that is tied up in your home in return for a guaranteed cash payment. But the best offer you can expect will vary from 70-75 of market value. A typical quick house sale for cash can take place within 14 days of instructions and in some cases as quick as 5 working days.
- Sell your house via auction - you can contact your local property auctioneer and even online auction sites and request that you wish to sell your property fast to hungry investors. There's absolutely no guarantee that your property will sell and auctioneer will significantly undervalue your property to "attract" interest from property investor - for example a typical 100K property will be advertised for sale in region of 65K as guide price. There are also insertion fees involved and final sale price at fall hammer. If they do find you a property buyer, you will complete within 28 days and sometimes you can request completion within 14 days. This is not ideal if you're facing repossession and timescales are against you to sell your home fast because you will be waiting for auction date which could be a few months away. During the school summer holidays, most investors will be abroad between July and September so be careful not to list your property during these periods when it will not attract any property investors.
- Sell house and rent back - this could be a solution if you need a discrete sale to put an end to stopping repossession - selling your house discretely and privately at terms you can afford to pay back a rent to an FSA regulated intermediary like ours may be well be the solution.
- Put your house on open market with an estate agent - once you have received a realistic and fair valuation from an agent, you have to place all your trust in them to sell your property fast. If you need to sell your home quickly you might need to spend some money redecorating the property and bringing it to modern standards.
Beware of amateur property investors
Having evaluated your options you may be thinking what should I do if I need to sell my home fast with someone I can actually trust? Where do I find a reputable, reliable buyer who can buy my house fast? Do you really want to trust a "buyer" who has just attended a property course?
It's unfortunate that people you will deal with about selling your house will ultimately benefit from your decision to sell your home fast. If you advertise your home with a low asking price then a potential buyer will get a fantastic discount against its true market value.
Other the other hand, an estate agent will probably over value your property to win your business rather than being realistic and therefore, you may consider selling your home for cash at discount to a property investment company.
If you need to sell house quickly, often you could be confused under pressure, not knowing what to do next. So how can you avoid all the stress if you need sell your home fast?
- Carry out detailed research about how much properties sold for recently in your area. You can find plenty of useful information on Rightmove and Zoopla.
- Ask the experts - contrary to popular belief your estate agents are not property expert as they only allowed to give their opinion rather than professional advice which can only be obtain by a RICS surveyor. Contact your local RICS surveyor to establish how quickly houses are selling in the area and to give you an idea.
How To Sell My House QuicklyKevin MartinBlockedUnblockFollowFollowingJun 20, 2017
Do you need to sell your house fast? You are at the right place. We buy houses Pismo Beach CA fast for cash.
- Cash for Home Fast in Virginia (757) 750-0200
- Cash for Home Fast in Chesapeake (757) 750-0200
- Sell My House Fast in Virginia Beach (757) 750-0200
- Buy House Fast in Newport News (757) 750-0200
- Cash for Home Fast in Hampton (757) 750-0200
- Sell My House Fast for Cash in Belvidere (757) 750-0200
- Sell My House Fast for Cash in Selwin (757) 750-0200
- Cash for Home Fast in Gatesville (757) 750-0200
- Sell House Fast in Sunbury (757) 750-0200
- Sell My House Fast for Cash in Drum Hill (757) 750-0200
- Cash for Home Fast in Corapeake (757) 750-0200
- Sell House Fast in Moyock (757) 750-0200
- Buy House Fast in Norfolk (757) 750-0200
- Buy House Fast in Williamsburg (757) 750-0200
- Cash for Home Fast in Portsmouth (757) 750-0200
109-G, Gainsborough Square #712
Chesapeake, VA 23320