Selling a home can be a bit overwhelming the first time around, especially if you need to sell a home that you never intended to own in the first place. A lot of people find themselves dealing with the reality of selling a home that was inherited. This means that they inherited the house in question and would rather sell it than keep it for personal use. Why? Well, for one thing, a house is often more expensive than many imagine. With a house comes the typical upkeep and ownership expenses; and on top of that, there are property taxes to pay. Even selling a house that you didn’t expect to own can be somewhat frustrating.
But selling a house doesn’t have to proceed the way that you might expect it to. You do have options outside of what you may imagine the home-selling procedure to be. Did you know that you can sell a home for cash, for example? That, among other things, is an option afforded to you as a homeowner. After all, it is your home to sell; and even if you need to sell a home fast, that doesn’t mean you’re necessarily limited in terms of what you’re allowed to do. Let’s explore some of the myths that you may believe regarding selling a home.
Myth #1: You Have to Use a Realtor
A lot of homeowners sign on with real estate agents simply because they regard that as a standard procedure. But in fact, you don’t need a realtor to help you sell your home fast at all. If you’d like to sell a home for cash, as we’ll discuss below, it may actually be a detriment to your efforts. While some realtors are skilled, hiring a great realtor can sometimes be a matter of luck. Realtors are often quite busy and may have a lot of business on their plates, making it difficult for them to focus on your home as a priority.
For that matter, working with a realtor takes away from your profit. You’ll always owe a realtor commission when working with them. This can be detrimental if you’re attempting to sell a home quickly, in which case you list it for less. Selling without an agent is referred to as the for sale by owner process, and it’s an option for virtually every homeowner.
Myth #2: Buyers Need Mortgages
One of the reasons why people have such a hard time selling their homes quickly is that they’re waiting for home buyers to secure mortgages. Some buyers simply will be denied mortgages outright, ultimately falling through. If you’re really interested in selling your home quickly to a serious buyer, you should seek out a company that buys houses with cash. These companies normally flip such homes for a profit.
Keep in mind that it’s often easier to work with these companies one on one. There is no need to work with a real estate agent. Though about 95% of all buyers that work with real estate agents go through the traditional bank financing process, companies that worth owners to buy with cash are able to offer their payments in full. When you sell a home for cash, therefore, the process is much more streamlined.
Myth #3: You Need to Renovate a Home Before Selling It
There is no need for you to renovate a home, or even handle repairs, before selling it. Technically, anyone can sell a home as-is. But it’s much easier to do this when you sell a home for cash to a company, versus through the traditional route to an individual. Individuals that plan on buying a home for personal use expect a home to be ready for them to move into, whereas cash buyers often plan on renovating a home themselves.
Not only will selling a home as-is help you sell the house more quickly. It also raises your overall profit.
There are a lot of issues that can lead you to need to sell a house suddenly. But if you do need to do so, don’t assume that you have to take the traditional route. Remember these myths and the realities that come with them!