A home is an emotional investment for most people as it is that space where they make memories and raise families. But, when such circumstances prevail that one has to sell the home, it can be an emotional shock. Apart from the financial constraints, sentimentality plays a massive role in this decision.
There are broadly three options to sell the property:
- Hire a real estate agent who is well versed in that area and has an excellent reputation for completing deals. Of course, one must consider deductions for the agent's commissions from the selling price.
- Sell to a cash buyer like Sell My Home Fast (GSAP) who likes to buy a house in an as-is condition and offer the entire payment upfront without any hassles.
- FSBO or For-Sale-By-Owner, whereby the owner puts the house on the market by themselves and manages all the transactions and things to do for the sale.
If the homeowner considers the 3rd option - FSBO, then there are some financial hits that must be factored in seriously. These expenditures are considerable and could be an immense shock for a first-time seller.
1) Setting a fair price
While evaluating the home's value, the homeowner must set sentimentality aside. Instead, parameters like neighborhood value, amenities, infrastructure, and market fluctuations should be considered. It would be beneficial to hire an Appraiser who is an expert in this field and will help determine a fair price.
Pricing it too high might mean that the house sits on the market for too long, which increases the owner's financial burdens. On the other hand, the price is too low, and the householder might face difficulty settling the mortgage payment.
2) Showcasing the home
The homeowner needs to remove their personality from the house by decluttering and cleaning out unnecessary items that will not be required to make the sale. This includes personal photographs, mementos, and souvenirs, among other things. Moreover, there might be wear and tear effects of long-term residence on the finishes of the surfaces in the home. These would include paint finishes, floor coverings, and wall panels, which would need a facelift to repaint/polish. Finally, it would be advisable to hire the services of a professional Interior Designer to help with staging the home for viewing.
3) Closing costs and taxation formalities
Depending on the city/state of the residence, there would be a few taxes to consider when closing a home sale. Also, the closing costs would include several deductions for - mortgage insurance, Title fees insurance, loan processing charges, and title deed records. All these costs add up quite a lot and will need to be deducted from the final sale price.
4) Formal disclosures
By law, a homeowner must disclose any property defects like timber rot, insect infestations, water damage, and a few others when selling the home. So it is highly advisable to include a pre-inspection of the property, which gives a fair idea of its worthiness.
5) Costs to maintain the vacant property
A vacant home needs to be taken care of by cleaning debris and maintaining the landscape, and facade, among other things. This way, the house stays in perfect condition for viewing by probable buyers. Also, utilities like water and electricity will need to stay connected and paid for till the showing is not over.
7) Attractive concessions
Often a buyer is looking for bargains, and if the homeowner offers a few appliances and gadgets to make their deal more lucrative, it helps the buyer make up their mind.
Another attractive incentive is to buy a home warranty that would go a long way to assure the buyer that this is too good a deal for them to pass up.
To avoid all such issues, it's advisable to consider selling the house to a cash buyer like Sell My House Fast (GSAP), who will offer instant cash and buy the house without any additional hassles.
Why Sell My House Fast (GSAP)
Sell my house fast GSAP is a family-owned house-buying business based in Greenville, SC. The company has been buying real estate over the last six years and has become the most trusted name in the cash buyer industry in the Upstate. The owners have been born and brought up here in Greenville and have a vested emotional interest in maintaining the integrity and beauty of the neighborhoods of this city. This BBC-accredited local business is a great place for house owners to engage in hassle-free sale deals that cut out intermediaries like agents and banks.
Get a "cash for your house" offer by following three simple steps. First, fill out a form with contact information or call them, receive a fair cash offer within 24 hours, and choose a closing date as early as 14 days after accepting the offer.
To sell your house fast, call Sell My House Fast GSAP at (864) 428-9197 or email at myles@sellyourhomeupstate.com.
