Inheriting a house is not always a blessing. In many cases, the houses are in serious disrepair after years of neglect, which means that they’re basically uninhabitable. In such cases, it makes sense to put the house up for sale, but this too has its own drawbacks. Here are a few things you should know about trying to sell your house quickly.
Fixing It Up.
Before you can even think about selling your house fast on the market, you’re going to need to fix it up. This takes time. The most popular home renovations — let alone the ones you’ll need to make — made prior to selling take two to six months. Plus, these projects aren’t cheap. When you estimate the cost of any household fix, renovation, or improvement, experts advise adding 20% to the final estimate. In other words, it’ll cost one-fifth more than what you’re told, probably. Worse, you won’t even get to make all that money back. Some projects have better returns on investment than others; however, there aren’t really any projects that provide a 100% ROI. So basically, you’re going to need to dump a ton of time and money into the house, which you aren’t going to make back.
Getting Help.
Real estate agents and brokers can certainly help you sell your house quickly, but they’re also going to take a nice chunk of your money doing so. If you try to sell with an agency, the agents’ commissions could run as high as 6% of a home’s final sales price, while using a broker reduces the selling price of a house by 5.9% at least to 7.7% at most. Sure, it doesn’t sound like a lot, but that’s actually thousands of dollars. Why sell through an agency when there are cash buyers of real estate who you can sell your house quickly to, as it is?
Competing.
The real estate market is competitive, and if you want to sell your house quickly on the market, you’re going to have to take some extra steps to get that competitive edge against the other local houses for sale. In other words, you’re going to have to stage; you need to prepare it for showings. According to the 2012 HomeGain Home Improvement Survey, staging was considered the fifth best thing you could do as a seller to add value to the property. HomeGain’s survey also found that those who used home staging techniques spent an average of $724. Selling to a cash home buyer or investor can eliminate these costs.
If you’ve inherited an old house you don’t have the time or money to deal with, sell it to cash buyers of real estate. You’ll be glad you did. If you want to sell to a cash buyer please call us at 314-926-0660 or fill out this form
