Life happens, and there are times when it has a direct impact on your home ownership status.
A family emergency such as medical expenses, the need to move in with a family member, or job relocation are among situations which arise and call for a quick move out of your current residence.
In some cases, a decision to move to a preferred climate or move to be with a loved one or significant other is a situation where you prefer not to wait for months to get your property sold.
When faced with the need to sell a residence as quickly as possible, you have three methods to choose from. While selling as quickly as you can is the priority, you also want to come out ahead as much as possible on the financial side as well.
FamilyPropertyBuyer.com is here to save you as much time and money as possible.
One option that people consider is working with a licensed real estate agent. Potential sellers already face paying out commissions with the transaction. On a $200,000 home sale, the total commissions can easily be a minimum of $10,000, which means that you (seller) wind up with less than $190,000. And that does not count legal, title, and other fees which are part of the transaction.
However, when you already have a moving date and likely the expense of your new residence (whether buying or renting temporarily), your real estate agent does not share the same sense of urgency. Frankly, their commission is the same whether they earn it two weeks or six months after you award the listing.
More often than not this type of move is not part of a long term plan. As a result, your home might need maintenance and ‘fixing up’ in order to be in tip top condition for the sale. Often times more serious work such as the roof or plumbing repairs are necessary, resulting in thousands of dollars in costs and days or weeks for the work to be completed.
Real estate agents representing buyers are far less likely to show a property which needs repairs and/or maintenance when they have other homes to show which are already in move-in condition.
The longer it goes before your home is truly ready for them to show, the longer it takes before you have a serious potential buyer. By that time, you may have already moved out, be showing a nearly empty property, and be stuck paying a mortgage and maintenance costs while you are miles away.
Some home owners in this situation consider a “For Sale By Owner” path, thinking that doing so will save them thousands of dollars on commission while getting the job done. However, potential buyers they find by advertising on their own will be less likely to want to take on maintenance, repairs, or upgrade costs, being more easily scared off knowing that there is no real estate professional involved in the sale.
Either way, your sale may also be delayed additional days or weeks if there are any problems with your buyer’s mortgage or financing.
Another option which sellers consider is renting out your property. If you are able to successfully find and screen a tenant, and charge enough rent to cover your mortgage, property taxes, and basic maintenance, renting could be a viable option.
However, our experience shows that many sellers do not factor in the cost of a property manager. If you are living hundreds of miles away, you can’t be fixing toilets at your property at 3 AM, making sure the lawn is trimmed, and be there to collect the rent check on the first of the month.
Often times the cost of having an individual or property management company to handle all of this, when added to the mortgage and property tax costs, results in the landlord not being able to cover their costs of owning the property. And this is if your tenant makes every rent payment as scheduled and is not delinquent.
Your next option is to work with FamilyPropertyBuyer.com. We purchase properties “as is”, pay you in all cash, and arrange to close as quickly as you need or according to your moving schedule.
We will provide you with a no obligation all cash offer for your home and you won’t have to lift a finger. After a purchase, FamilyPropertyBuyer.com works with local contractors and can take on everything from painting and “fixing” on up to replacing a roof, furnace, or drywall.
In addition, we can relieve the burden of moving as much as you like. We have had situations where the sellers are moving into a family member’s residence and no longer need a lot of their furniture. Or, they don’t have the time to get rid of the tools in the garage or repaint the marked up wall in the kids’ bedroom. You can leave it and save on your moving expenses.
What we do is put cash in your pocket and the property under our name, possibly within a matter of days. You save by not having to pay commissions, make any repairs or maintenance, or having to deal with every piece of furniture or supplies.
This is whether you need to move across your current neighborhood or across the country.
Of course, everyone’s situation is different. You can contact FamilyPropertyBuyer.com to arrange for your no obligation all cash offer.
QUESTIONS? Contact Elvin@FamilyPropertyBuyer.com OR (773) 644-4447