What are my Options When Selling a Property?

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Selling a Property
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If you are putting your old home up for sale, you might be interested in the different selling options available to you. Selling a house doesn’t have to be a daunting experience, even if you are hoping to sell it in a short space of time. 

Some folks are hoping to get rid of their old home as soon as possible, especially if they want to move into a new home as soon as possible, while others have the time and the energy to wait for a good offer. 

Sell to a Company that Buys Property

There are several investment companies throughout America that will offer to buy your old home from you. Many of these companies will have access to the finances needed to buy your home straight away, so they can get the deal done in two to three weeks. Many investors are willing to give sellers cash for your home, which can prove beneficial.

However, if you were hoping to get top dollar for your property, don’t expect a home buying company to pay you the asking price. Most investors are in the market looking for a bargain, so you might be forced to sell your home at a discount if you agree to sell it to one of these companies. For more information about a reputable home buying company, click here.

Hire a Relator

Most homeowners are willing to give a percentage of the sale of their home to a realtor. A professional real estate agent with plenty of experience can help you throughout the entire process, and they could help you sell your home for more than you expected.

Relators who have been in the industry for a number of years will help their clients find potential buyers. Many of them will have a list of potential buyers who might be interested in purchasing your old home. If this is the case, you might end up selling your house within a few months. They will be used to dealing with buyers, they will know how to handle all the legal  documentation needed to close the deal, and they will handle the negotiating stages of the sale. A lot of homeowners don’t have experience selling property, so leaving the negotiations up to the professionals is highly recommended.

If you work during the day, making time to show potential buyers your property might not be possible. While you are at work, you can rely on a trusted realtor to show people the house.

Sell the House Yourself

If you have the time and energy, you might be considering selling your property privately. To avoid paying the realtor 6-7% commission, a lot of folks opt to take on the challenge themselves.

However, selling your home without any formal sales experience can prove tricky. You will want to understand the legalities before putting your house on the market. Putting a price tag on your home is another issue you might face. It might be worth your while hiring an experienced appraiser to value your home before putting a for-sale sign on the house. If you don’t want to hire an appraiser, check to see what price similar homes to yours in your local area were sold for. There are tons of websites and platforms which publish information on houses available, and properties that have been sold recently, so getting an idea of what your home is worth shouldn’t be too difficult.

Auction

Another way of selling your home quickly is by putting it up for sale in an auction. If the property is in desperate need of renovation, or there are legal issues, this option might suit you.

However, if you decide to go down this road, more often than not you will sell your home below the true market value. However, if a bidding war begins, you might find yourself selling your home for more than the price you valued your home at.

Traditional Auction 

When the auctioneer’s hammer falls, the person who has put the highest offer will when the auction. The bidder won’t be able to pull out of the agreement after the contract has been exchanged. The bidder will have to put a deposit down on the property, and they will have to pay the auction house a fee. The remaining balance will have to be paid within a specific number of days.

Conditional Auction

A conditional auction is similar to a traditional auction, but the winning bidder will have to pay a non-fundable fee to reserve the property. The buyer will then have twenty-eight days to exchange contracts with the seller, and another twenty-eight days to complete the purchase. Those who are waiting for mortgage approval can benefit from buying a property from conditional auctions. The seller won’t be able to change their minds, even if they get a higher offer down the line. For more information, consider speaking to auction houses in your local area. 

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