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.
How to Increase Your Homes Value
Are you planning to sell your home? If you are planning to sell your house, you may just want to start to think like a buyer instead of a seller. Why? It is simple - as a buyer, you are more likely to look at a home or property in a critical way.
Ask yourself what home improvements YOU would make if you were to purchase YOUR home today. When you bought your home, you probably looked at differently then you do now. In fact, you probably saw room for improvement when you first looked around the property that is now your pride and joy.
Buyers will do the same thing when they see your home for the first time. This is why you should look around your house with a different set of eyes.
As an experienced Massachusetts Real Estate agent, I have seen my fair share of mistakes when it comes to home improvements that increase value. For some reason, many sellers think that everything they do to their homes adds value. This thinking could not be further from the truth.
What Home Improvements Will Add Value to Your Home?
These are the areas of your home you should check out before putting your home up for sale:
- Outside areas
- Front door and porch
Making certain home improvements may even make or break a sale. Bathrooms and the kitchen are both crucial areas of any home. But, don't forget checking your lawn and making the front of your home look inviting.
Easy Home Improvements in the Kitchen
Updating your kitchen may cost less money than you think. A new kitchen will always make your home look more attractive and contemporary. It is one of those areas a buyer will look more critically at as it is the most likely room in the house he, or she, will be spending most of their time.
There is a reason why people call the kitchen the heart of the home. Kitchens are also the first place most people will think of improving when it's needed.
Contact a local contractor and see what they think. Replacing the entire kitchen may not be necessary. However, consider replacing the countertops and perhaps even the appliances. Doing so will give the kitchen a completely new feel. New countertops will immediately make your kitchen seem more contemporary.
Granite is one of the most popular countertop choices. You can find some choices that are reasonably inexpensive. An appliance upgrade to more energy efficient units is another good idea. After all, we all like to save money on fuel bills in the long run.
How Clean is Your Bathroom
You may not notice the bits of mold in your bathroom, but a potential buyer most certainly will. A clean looking bathroom, or bathrooms, can quickly sell a home. Believe it or not, we spend a surprising amount of time in our bathrooms, and buyers like them to look nice.
Replacing showers and bathtubs may be over the top. New tiles are, however, a cost-effective option if you would like to achieve a quick sale and get an excellent price for your home.
Also, consider fitting low- flow shower heads and tabs. Yet, another energy saving idea which could help you to sell your home. Invest in some new towels in vibrant colors. This is all about lifting the overall look of your bathroom and make it look more inviting. You want a buyer to think that they can walk in and use the bathroom right away.
Out Side Areas of Your Home
When you decide to sell your home, make sure both your front and back yard look nice and neat. Cheap bedding plants are one way of doing so. You may even want to invest in some hanging baskets and colorful planters to achieve a fresh look. Take a look at your lawn as well. Does it have any brown patches or moss growing in it? If you have brown spots in your lawn, you should remove them and sow some fresh grass seeds.
Rake your yard for moss, and aerate it at the same time. Both will make your lawn look a lot healthier. You may even want to consider painting fences and staining any decking to give the outside areas of your home a well-maintained look. Quite often the things you neglect around your home could cause problems at the home inspection. In fact, the issues may be large enough in some buyers eyes that they back out of the sale.
The Front Door and Porch
Apart from your front yard, the first thing a buyer will see is the front door and porch. This is where the entire buying process starts. Making these areas of your home seem more attractive can be simple with a little effort on your part.
This is a really simple way to make your home look more appealing. Should you buy a new front door? That may look a bit fake. But, it is a good idea to take a look at your door hardware such as handles, bells, and nobs. Do they look dated at all? If they do, replacing them is cheap and will instantly add value to your home.
Make sure your porch is clean and inviting. A couple of planters packed with seasonable flowers say welcome to our home. Of course, you don't need to leave them there. Take them with you to your new home.Home improvements do not need to be expensive, but the right ones will undoubtedly add value to your home. Think about it like this. You are offering a buyer a turn-key solution. You want your home to shout out " walk in and live here." That is what pre-sales home improvements are all about.
Final ThoughtsMaking these improvements will undoubtedly make your real estate agent happy. Realtors love it when their clients pay attention to what it takes to sell a home. It is also a proven fact that homes that look their best sell quicker and for more money. It sounds like it may be time to do what you can to increase your properties value right? Best of luck getting your house ready for the next buyer!
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 ?Kevin 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.
Selling FSBO vs. Hiring a Realtor
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.
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