On the surface, selling a house seems as easy as placing a sale sign on the lawn and waiting for the right offer. However, homeowners quickly learn it’s a lot more involved, especially if you’re hoping for a reasonable return on your investment. Property owners must know everything from determining an asking price to marketing to the right audience. Whether you want to take on these responsibilities is up to you, but the good news is there are other options.
Hire A Real Estate Agents
One of the most common ways to sell a house is to hire a real estate agent to get the job done. They have extensive knowledge of the local real estate market, have access to an extensive network of potential buyers, know how and where to advertise the property, and assist you from beginning to end. Real estate agents will receive a commission for their services, but they can save you time and money if you’re hesitant about selling the house yourself.
Cash Homebuyers
Some individuals and companies will pay you cash for your house no matter what condition it’s in. Based on an inspection or market data on real estate in your area, they’ll make you an offer. Cash homebuyers might be a good option for homeowners that have old or damaged properties. It saves you a lot of money on repairs and enables you to walk away with cash in your account without the hassle of a traditional sales process.
Home Flipping Companies
The thing about cash home buyers is that homeowners could easily miss out on a decent payout. All too often, people accept an offer and find out that their homes are worth more. There’s also the fact that a cash home buyer could low-ball you and flip the property for a huge payday.
House flipping companies are a better alternative if you want to ensure you get your money’s worth. Some companies will make an offer based on the current market and sign a deal to cut you in on a percentage of the sales after they’ve fixed the place up and resold it.
For Sale By Owner (FSBO)
Although there’s a lot involved in selling a property, resources are available to make the process more manageable for homeowners. There are real estate and FSBO sites where owners can advertise their properties for sale to targeted audiences.
If the home needs repairs, you can hire a contractor to resolve the issues and bring things up to code. Renovations can be kept simple, like new paint and flooring. With social media available, you can send out invitations for an open house and find a buyer faster. Keep in mind that selling a home yourself will require a lot of time and reduce your profit.
Use It As a Trade-In
If the overall goal is to sell your house to purchase a new property, you could always consider trading it in. Some companies will buy your house, sell the property for you, and then give you the funds to purchase a new home. If you go with this house selling option, it’s important to note that the company will charge a fee, leaving you with less money to put down on your new place. Not to mention, these types of offers are only available in certain regions. So, if it’s not in a city or state where you want to reside, it could cause an issue.
You’ve invested years of your hard-earned cash into your property. When it’s time to move on, the main objective is to walk away with enough money to fund your next stage in life. While hiring a real estate agent is the more traditional option for selling a home, there are other choices. Simply consider your reason for selling a house, how involved you want to be in the process, and how much time you have to determine which route is best for you.
