How to Sell a House for Cash: The Key Things to Do
Are you trying to sell a house for cash? For a lot of sellers, the speed and ease of cash sales are attractive prospects. However, if selling in this way, you still know how to get the best for your money.
From preparing to finding a buyer, we can help out. Read on for our guide on the things to do when you sell a house for cash.
Know Your Home Value
Working out your home’s exact value is tough because it all depends on how much someone wants it or is willing to pay. However, getting a rough market approximation can help you gauge the rough value.
Do this using comparative analysis. Look up similar homes in a similar condition in the local area. Try to see what they are on the market for and, if possible, how much they have sold for.
Decide If You Will Do Repairs
The next step is to decide if you will do repairs and renovations to increase the home’s value or sell as-is. As-is means that you do not do any decorating, renovations, or fixes.
As is obviously means that you will get a lower price for your home. However, these homes are usually targeted by cash buyers who want to flip the home for a profit. While you will get less money, sales are often very quick.
If you renovate, make sure the expenditure adds value. You do not want to spend money on adding to a property to find your home value has not increased.
Weigh Up the Costs
If you consider going for a home cash sale with a house selling company, you should weigh up the costs. Many real estate agents will tell you that you will get a lower offer for your property, and it is not a good idea.
In some ways, they are right, as you will get a lower offer. However, they do not include the price of closing associated with a real estate agent in this assumption.
You will be expected to pay 3% of the final sale to your agent and 3% to the buyers. Add to this the costs associated with your renovations and home repairs that you may have to add, and a home selling company often works out around the same price. Best offer KC has a solution for this you should consider.
Know the Company
Unfortunately, when selling a house for cash, there are many people ready to take advantage. Make sure you vet the home sale company first, look for online recommendations, and speak to others who have dealt with them. If you are selling to an individual, check the legal framework correctly and all in place.
Shop Around When You Sell a House For Cash
Even when you sell a house for cash, you do not have to take the first offer. You may seek an offer from a few buyers or companies in the local area. You may find one offers considerably more than others.
If you enjoyed this article, we have many more to help you out. From property management to decorating, we can help you build your ideal home in the coming year!