There are many ways you can save money when you are looking to sell your house in Oklahoma City. In our latest post, Learn how to sell your house for a fraction of the cost we explore how you can cut costs on the sale of your home or investment property.
Selling a home in the Oklahoma City area can be expensive. While some properties perform very well on the MLS, with little cost, others require much more work. Below are some great ways you can save money when selling your Oklahoma City area property.
Work With A Direct Buyer
Working with a direct buyer will help you avoid all costs you would typically encounter when selling your house with an agent. By avoiding the MLS, you save on all kinds of expenses typically associated with a property listing. Of course, not all buyers are the same, but if you choose to work with a buyer such as Local House Buyers , you will be able to avoid commissions, repairs, and even closing costs. We won’t ask you to clean up or show the house. There are no marketing costs to factor in or other selling expenses to worry about. Plus, by selling quickly, you will no longer have to pay ownership and maintenance costs such as the monthly utilities, property taxes or homeowners insurance.
As a group, direct buyers are, by definition, individuals or companies who buy your home pretty quickly and all at once, without lender financing.
Selling to a direct buyer has a lot of benefits because you can sell your house as-is, so you can get a better price. You don’t need to think about finding a buyer or getting funding. You will decide on the closing date and sell your house on that day.
In general, selling your home to a direct buyer helps you to avoid home planning, presentations, and staging troubles and arrange for a more convenient closing date, definitely avoid more cost
Sell Your House On Your Own
Selling the house on your own via an FSBO listing can help you avoid the commission costs you would typically pay an agent. To sell your house as a “for sale by owner” property, it is important to have some real estate knowledge under your belt. You should know the local market, have a realistic asking price, and be able to professionally show the house as needed. It can require many hours of work, and typically FSBO’s take longer to sell than working with an agent or selling via a direct sale to a professional buyer.
There’s nothing cheap about commissions on real estate. On average, you’re going to spend only 6% to sell your home—split equally between your agent and the buyer’s agent. You will need to factor in the commission of the realtor when you determine the asking price for your property. Your sale price should be enough to pay off the remaining mortgage balance on the property, plus a commission. If you sell a house for $150,000, you’ll spend almost $9,000 in real estate fees. And using the realtor would allow you to have enough equity in your house. Because realtor commissions will minimize your earnings, an FSBO could be the only option if you don’t have a lot of equity in your home.
Should you decide to list, the house should be thoroughly cleaned. You will want to go beyond just a standard cleaning, taking it to the next level cleaning things such as the ceiling fans, the tops of cabinets, and stains from the carpets. Many people choose to hire a team of professionals for a true deep cleaning of the home. Keep in mind that when you list, you will need to keep the house in this clean state for as long as the property is on the market.
A clean home is one of the most important things that will help you sell it, and it doesn’t cost you a lot because you can do a lot of it on your own. So, no matter how tempting you are to skimp on your cleaning efforts, you ought to sweep, wash, brush, and polish like you’re turning your house into a laboratory’s cleanroom.
You’ll cost yourself more in the long run if you do a half-baked job, like ignoring the tiresome chore of dusting around all the windows and door frames, or wiping down every inch of wall and baseboard.
Choose The Right Repairs And Upgrades
When making repairs and upgrades to a house you wish to sell, it is important to choose the right ones. You don’t want to make large renovations or repairs that are going to break the bank. Instead, focus on smaller things and projects you can quickly handle on your own. Two great areas to focus on are the front yard and the entryway. These two areas provide first impressions and set the tone for the rest of the showing. You are looking for things you can do for a low cost that provide a big impact. You will want to stay away from knocking down walls or doing a kitchen renovation.
There’s no reason to do all of those high-dollar, fantasy home renovations, like a down-to-the-studs kitchen remodeling, or decorative pet designs, or building a gazebo in the backyard. However, there are a range of fixes that you need to do before you sell.
Some small changes left unfinished will be red flags for the home inspection of your client. Such easy-to-see apparent problems show that the home has not had adequate repairs, and the inspector may look further at less-obvious issues.
Sell Your House In “As-Is” Condition
When you choose to sell your house in “as-is” condition, you will avoid any repair costs that come up when selling the house. Local House Buyers will buy your house as-is, or you could choose to advertise it in a listing as such. The trouble is, you may not be getting it in front of the right buyers should you put it on the MLS. Most people looking on the MLS want a house that they can immediately move-in to.
You don’t have to think about getting any less cash because of the appearance of your house. When you don’t have the time or money to repair your house before sale, selling it for cash may just be the way to go. Forget home renovations, deep cleaning, and interior decoration — you don’t have to change everything to get your house ready to sell.
If you deal for a cash home buyer, they ‘re going to purchase your house exactly as they are – and they’re trying to do whatever they can to patch it themselves. Not just that, but they’re not going to be deterred by damages or an awful paint job. They concentrate on the worth of the property itself, not how good it looks.
Know Your Buyers And Market Accordingly
When you know who is buying in the area, it makes it easier to market to them. Families are looking for different things than college students are. Empty nesters might be wanting something slightly different than young, singles. Take a look at the demographics of buyers and renters in the area and market your Oklahoma City house accordingly. By attracting the right people to your house, you will have a much easier time selling it.
Much as a politician should know their audience before making a message, you should have a good understanding of who your target customer is.
Knowing your target market in the highly competitive property and real estate sector is the key to a successful marketing campaign. Your property is going to sell faster, for more money.
Who is your target audience for your property marketing? The real estate market is large, and while your customers may have different backgrounds and needs, each marketing campaign should have a tighter target audience in mind. Get to know your target audience so you can market your property right.
Utilize Free And Low-Cost Marketing
While many listing sites charge an arm and a leg, you can use social media sites to advertise your property for free or for a very small charge. People are visiting these sites anyway, so right away you are getting the house in front of many people without even trying. You could advertise your property for sale on Facebook and in local real estate groups. Or you could use great photography, advertising the property on Instagram with the proper hashtags. Some people will create videos to share on youtube or other social sites.
Be sure that you have social networking profiles on both big networks (Facebook, Twitter, Pinterest, Google+, and also Instagram if you have a number of home photos). Interact with customers, share a positive news, and value your resources.
Chances are, homebuyers are happy to share their favorite home images with friends and relatives, making it easier for homebuyers to contact and upload a range of properties online by incorporating social media buttons.
You ‘re not selling a house in several ways, you ‘re selling a whole town or city. Present the best that your city has to offer, with high-quality, breathtaking images of local landmarks and familiar sights.
Do want to learn more about how to save money and sell your house for a fraction of the cost in Oklahoma City? We are here to help! Contact us today to learn more! 405-395-2085
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