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.
Hi, my name is Jason Castle, I’m a partnerwith Jaburg|Wilk and my practice areas are family law and criminal defense.
Q: Can I sell my house while the divorce ispending? A: This is a yes and no.
If the other partyagrees, then yes, you can.
However if they are not in agreement you cannot.
It’s importantthat everyone reads the papers that are actually filed with the court.
Specifically, I’mtalking about the preliminary injunctions that’s filed with the initial petition fordissolution of marriage.
Often the petitioner, the person filing, won’t actually read thepreliminary injunctions because that’s what’s going to be served on the other spouse.
Butin the preliminary injunctions, it expressly says that the parties cannot sell property,destroy property, transfer property, encumber property – all of that is precluded andso unless you have an agreement or a court order, the answer is no, you cannot sell theproperty.
Q: What happens if I do? A: If a party sells a house or property, itbecomes an issue that will be brought before the court as a contempt violating a courtorder and so there can be sanctions and the other penalties that would be incurred.
RecentlyI had a case where the husband moved out of the residential property and as soon as hewas gone, the wife put everything on Craig’s list and made very sure that the public knewthat it was her husband’s property that she was getting rid of and it was going forcheap and so it does happen and you go back into court and you get an injunction and hopefullythe court can get you in before all the property is gone.
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 ?
hey what's up guys, I'm a 80 year old man.
gonna teach about real estatetoday so what were gonna talk about is how to calculate your list price.
I'm gonna expoint to you exactly why we do what we do and how everything goes down I'm gonna show you how to grow your business These are the things that today's market, you're gonna love what we did in here alright, were gonna start making some money, that's how we do it Hey what's up guys john cochran here in today is system Saturday day that I you a system that I use my business andyou can rip off duplicate using your own local market now on today system Saturday what we're gonna talkabout is how to calculate your listing price whenever you're getting ready to sell aparticular property now guys whether you are a real estate investor or just a a realtorgoing to be listing a property up onto the marketthis is the most crucial part in my opinion of actually getting a property to sellis coming up with that correct price a year and that the public will buy thatand is very very simple whenever you can really break it down think guys I will tell you this theprice that you bring into the market to it is should be the price that shouldselling for so don't try any of this you know hey if if I if the comps andeverything it's its I'll I'll probably end up getting130 out of it was listed at 140 or 150 and just let the buyer take medown on that guys it does not work we list all of ourproperties for exactly what we get for every singleone of them now the goal on this is to get them into multipleoffers situation and get more for that however but I'm just telling you rightnow that we list our properties for exactly what we want and we don'tpat it up up we don't do any that stuff we list for exactly what we want but howdo you calculate this this listing price to come up with thatmagic figure how do you do that in allcomes down to the very first thing you gonna do and you got a full comparables aroundyour property now when you pull comps or comparables um.
you do this very very simply you want to go anywhere between aquarter mile to a half of a mile around your subject property in a radiussearch particularly you wanna go a quarter milearound your subject property you're also whenyou're pulling comps find out what your value is you're looking for all theseproperties around yours that's sold that's sold with then the past 6 months now why that why do Iwant sold properties within the past sixmonths guy's that is the most accurate way to literally find the valueof your property and you're going on find the value anactor in value over property if you search a mile around yourproperty you know any go back two years market changes so much so you need to be looking for otherproperties that sold within six months of your list date in that the properties or aquarter mile around your subject property that have the similar bedrooms baths and square foot of the property that you're getting readylist this is huge now once you find all the comps once you find all of these comparables andyou find out you know there's you know exact amount of propertiesyou know and that's another thing is that you wanna have anywhere between atleast 2-3 sold comps if it doesn't have two to three sold comps on it guys don't even you shouldn't evenbought a property but you have to have so comparable to go by now when you have the sold comparables and you do the search the searchesalways gonna come straight from the MLS doesn't come from Zillow it doesn't comefrom trulia doesn't come from realtor.
Com it doesn't come from john cochran.
Com it comes straight from the MLS because that's gonna be the mostaccurate data holiness into the MLS will give you a great idea of what other properties a a quarter mile awayfrom your subject property are actually selling for, its gonna tellyou those numbers and how how long days on market, now coming upin calculating your list price, when you're gonna be selling you need that information but let's justreally done this down for you now all you have to do is you just needto identify what retail would be on your particular property thatyou're selling if if was already fixed up if it fix upto the nines what would retail be that's the magic number you gottafind out what retail would be so if you can actually you look at allthese comparables and you come up with a retail figure let's say say one hundred thousanddollars and maybe you're gonna be wholesaling this property of but retailers is one hundred thousanddollars so you're gonna be looking for your target buyer is gonna be realestate investor so when they go that fix up property ifthey sell that property they it's already fixed up they're going to rate a lotfor one hundred thousand dollars right so if your extra strategy is to wholesalethis property you take the retail figure x.
5 = your so in this case it's just 50percent in this case if you identify retailing you're gonna bewholesaling these deals of if you identify retail at one hundredthousand dollars you're gonna be wholesaling these properties upor listing this property for fifty thousand dollars which obviously means you have tobuy a way below or below this fifty thousand dollars inorder to create a spread and that deal and this will give yourwholesaler you know your other real estate investor it will givethem enough skin in the game to where they can make money on thedeal probably somewhere around this your selling for fifty thousand let's justsay you bought it for 45 your selling for fifty thousand you're gonna makefive thousand dollars a wholesale is gonna put or the investors gonna put ah you knowtwenty twenty five thousand dollars in this thing so they got seven grant$72,000 wrapped up in this they're gonna sell for 100 they can make$25,000 on that all day that's the formula.
5 take retail x.
5 equals your list price that if you'regoing to wholesale the deal of now if you're going to prehab that deal the formula is very very similaryou gotta start with your comps you have to start with your comps goquarter mile a way look for the sold properties within six months you need 2-3 comps and they're coming from the MLS sayyou did same exact process you have to identify their retail value first, okay so if you're gonna take a prehab this dealyour gonna make this property rent already a free not everything's gonna me knewwhen it but it's going to me pretty nice you're looking for an average buyer nota buyer to get emotional about what an average buyer somebody that's actuallylooking for a little bit of a deal something a little bit of of that retailback the the formula is very very simply you a takeretail value so you a take the retail value and you times at by.
1 which is 10 percent equals your list price very very simple so if you taking you identify that yourretail value on a prehab is gonna be $100,000 so got one hundred thousand dollars and youtake 10% off on that that means that your last price is goingto be ninety thousand dollars okay so that's a dealthat's the deal it's ten thousand dollars of a retail however when we calculate ourlist price we will never put anything up onto themarket for ninety thousand dollars never okay so in this case we would put thatright up onto the market for $89,900 we always we always always always will round down or something because89.
900 sounds it's not but it sounds a lotcheaper $90,000 very verysimple now if you have a deal that you just rehab this thing I mean this thing is awesome you put all the new doors intothe new group the new Windows you put everything inside the trend the Tile the carpet inside the floor everything they kit everything insidethis thing as new and you rehab this deal you go through the sameexact process you could go when you pull your comps a quartera mile away from the subject property within six months from the MLS in 2-3 sold comps you take the retail value that's exactlywhat you list it for so retail value equals your list price, okay very very simpleso on the same exact situation if you getting your rehab this property you take the retail value let's just saythat it is $100,000 you're gonna listing thatproperty at 100k but where where where Jon list it 99,900because 99,900 sounds way cheaper now let me just cover this for you real quick so why did ah why do we not prices why dowe not pad these is like what I said so at the very beginning in this video Ishared with you you know our list prices are list priceso I why did I not say you know what on this win rehab did that'snice what prices thing at 109,900, 109,900because I'm willing to take 99,000 for butlet just say price in a 109,900 not not not the market super super hotguy's a lot of people do that but let me tell you behind the scenes on what happens ofthat and what buyers actually do so if you take this property and you listed at 109,900 knowing that youwant the 99.
900 figure for that house so the hundredthousand dollars for that house your mind just says will just let them come on and take it down of a list price okay that's where your mind thingshowever what you don't know and what you actually do when you dothat is you missed so many different buyers and you you literally just chop them outthe equation so if a buyer is approved and their approved up to one hundredthousand dollars there never gonna know about this pricebecause they're not gonna be looking at properties for a 109,900 there a prooffor $100,000 that's why we do it that way is becauseyou know if if a buyer right here if they're approved to 90,000 if they approved100,000 they never know about that thing so that's why we don't had any of those in our list price ourlist price is exactly what we want for me that's the formula point a retail x.
5 is your list price ah retail x.
1 or 10 percent of is your prehabing price and retailvalue is you're list price whenever you rehabyour property so guy's like us on Facebook subscribe to ourYouTube channel comment below let me know what you think of these formula I don't know meyo or seventy percent or any that Jaz we don't know any of that stuff we we just makea simple math that it works so comment on this video below, and I'll see you on the next system Saturday.
Sell My House Fast In Dallas — We Buy Houses DallasWe Buy Houses PortlandBlockedUnblockFollowFollowingDec 4, 2017
One of the very best — and also first — house turning ideas you need to know is to do your due diligence. It’s possible making a fortune flipping houses, and also it’s just as simple to lose your behind if you do not know what you’re doing. When it pertains to the solution as well as flip property game, there is much more than just rehabbing residential or commercial properties that require some restoration after that offering them off to the following person. So, to re-iterate: the first and most importantly residence flipping ideas is to enlighten yourself.
The Interpretation of “Flipping”.
When you are turning homes, you are acquiring a distressed residential property at a low cost and also reselling rapidly to somebody else at a substantial mark-up. While this is typically finished with run-down residential or commercial properties seeking improvement or “rehabbing,” properties similar to this are not the only video game around when it concerns deal with and flip realty transactions. Residences that are “up for sale by proprietor” are excellent candidates, as the seller is usually really inspired. Confiscated residential or commercial properties can additionally be acquired at a fantastic discount; you can locate these via banks as well as real estate workplaces that specialize in such points.
House Flipping Tips Number 2: Tracking And Nabbing Your Quarry.
Generally, the most effective candidates for a successful repair and also flip property transaction are those on which you could make the most significant profits with the least amount of time and also effort. As mentioned earlier, banks as well as home mortgage firms are prime hunting grounds, yet you may likewise discover deals at realty auctions. The only caveat here is that you are up against a great deal of competitors at a public auction; quotes obtain increased swiftly, and also you could not obtain the best offer.
Home Flipping Tips Number 3: Financing.
After you’ve done it a couple of times, you’ll possibly wind up with adequate cash available to get properties outright. However, when starting out rehabbing residential or commercial properties or doing your very first flip, you’ll probably should obtain a short-term home loan. The very best terms can be had if you could make a deposit of at the very least 5%, as well as ideally ten.
Certainly, it do without claiming that you absolutely must have a prepared buyer — or you’ll be stuck to a 2nd house that you could not easily offer and also can not pay for to keep. This alone might be the 2nd most important of all house flipping suggestions. You could utilize Internet resources here, however it additionally does not harmed to have a great deal of excellent networking in the real life, either.
Discover additional information regarding the flipping of house here.
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109-G, Gainsborough Square #712
Chesapeake, VA 23320