For many people, the thought of selling their home can seem like a lot of work accompanied by a long list of expenses. It might seem even more overwhelming if the property is in disarray or needs repair. However, it doesn’t have to be that way! In our latest post, we will explore the ways you can sell your house in Oklahoma City without any hassle whatsoever!
When selling a house in Oklahoma City, most people immediately think about hiring an agent and listing the property on the MLS. This is a great solution for many people, however, you should know there are other options available to you. There are many ways to sell a Oklahoma City house! Consider your options to discover which selling method is right for you and your situation!
Sell Directly to A Professional Home Buyer
You can sell your house without using an agent, ultimately saving a ton of time and money depending on the situation. There are companies such as Local House Buyers that will buy your Oklahoma City house using a straight-forward and simple process. With a direct sale, you won’t have to worry about commission, repairs, cleaning-up or waiting for a buyer to come along. You will immediately know the amount you are receiving as well as the closing date so you aren’t left in limbo, wondering when your house will sell.
Direct sales are becoming increasingly popular, however, not all buyers are the same. Make sure you do your homework on both the local market and the buyer you are working with. A direct sale may not offer full price, but for some people, the amount saved on repairs and wasted time more than makes up for the difference in price.
The Pros of Selling Your Home to a Professional Home Buyer
As-is purchase. Selling your home is stressful enough already. But what about all those repairs that your home may need in order to satisfy the buyer? Not only is this going to be time-consuming, but most often the things that need to be fixed are more appealing to the buyer, and will cost a lot more than you get in return. This is probably the biggest advantage of selling a house for cash. You ‘re not going to need to do any renovations in your home. Local House Buyers are buying houses as they are, no questions asked.
Keeping all the money from the sale. You don’t have to deal with hiring a realtor when you’re selling your home for cash. All the closing fees that come with the traditional home sales experience are gone.
When you sell your house, you sell it directly to the buyer – bypassing all the extra fees.
This means that you’re going to keep the total amount you’re offered, saving you thousands of real estate agent commissions.
Quicker sale. Rather than waiting for someone to make an offer at your house and hoping that all goes through, selling for cash is a much faster choice. Once the cash offer has been accepted, you will get the money within a few days, rather than a few weeks that traditional sales frequently require.
When you’re facing some sort of financial difficulty, or need to sell your home quickly to move, how fast you can get your money back is important.
If you want to sell your house for cash, you can get the money you need to escape financial problems.
List Your Home With An Experienced Agent
Of course, listing your Oklahoma City house is an option. Take the time to learn about everything that is involved and what will be expected of you. No two agents work exactly the same and there are no guarantees. Your property can be listed for any price, but there is no guarantee you will receive it. Watch out for agents who try to “wow” you with a high listing price. If it’s priced too high, it will likely sit on the market, possibly for months at a time. You will inevitably have to lower the price, while your property drops down the list of homes available on the MLS. If you decide to list, make sure your agent prices your home to sell. Not just setting a high price to convince you to sign a listing agreement.
First of all, you’ll need to decide why you’re hiring a real estate agent. Is it that you want your house to sell faster? And maybe you are a total beginner, and need all the help you can get from the expert? You might be put off by all the paperwork and red tape and would prefer someone else to manage all of this.
Based on how busy your agent is with other customers, your home can not get the attention it needs. You need to be confident that you have an agent who can do his due diligence at any point of the selling process. The more busy your agent is, the more likely you would be to feel annoyance at not getting your phone calls answered in a timely manner, missed deadlines, and missed offers.
One of the biggest pros to employ a real estate agent to help you sell your home is their willingness to show your home to a wide range of potential buyers as soon as possible. Hiring a real estate agent can get your house listed on a database of MLS (Multiple Listings Service). MLS is used for the comprehensive exchange of property details with other brokers who may represent prospective buyers. This kind of publicity will lead to your property selling quickly.
They’ll know how to market your house properly to set it apart from the competition and they’ll easily come up with a marketing plan to get your house sold fast. They are up-to – date with the ever-changing real estate market, and can help you accurately pricing your house. They have access to publications about marketing which you know nothing about.
Some of the greatest drawbacks to hiring a real estate agent is choosing the wrong one to deal with. Not every real estate agent is the same or even an authority on your particular home and neighborhood. You may have contrasting ideas about how to sell your home better and how to price it better. Ultimately, you ‘re going to want to recruit an agent who’s not only experienced but also a good match for you and your unique needs. Be sure to interview a few before arriving at a decision.
While the final sale price will likely be higher when working with an agent and private buyer, the costs you encounter can completely negate these profits. Marketing, repairs, commissions, and closing costs will eat away at that sale price. Run the numbers if your method of selling is financially motivated. In some cases, a direct sale to Indiana Preferred Home Buyers can be the more profitable choice.
Offer Seller Financing
This can work for some people who don’t need the cash from the home immediately. You can elect to carry the note setting up a “rent-to-own” structure. Your tenant will “rent” the property at a higher than average price, with some of the money going toward a down payment on the home. They will then have the option to buy the property outright at the end of a certain period of time, typically around 2 years.
Seller financing, also referred to as owner financing, is where the owner of the property holds financing for the buyer instead of the buyer getting a loan from the traditional lender.
For certain cases , the owner or seller of the property accepts a down payment from the purchaser. Both parties enter into a binding contract, such as a promissory note and a mortgage, which specifies the funding arrangements. Which can include the interest rate, the monthly payment size, the parties’ obligations and the timeframe for repaying the loan.
One advantage of providing owner financing is that you build a source of cash flow or passive profits. If you are a real estate investor who has focused on passive rental income but is now ready to retire, selling your investment properties with owner financing can be a perfect way to continue to earn passive income without buying, maintaining or operating the assets.
Usually, very little is involved with owning a mortgage, particularly if you use a third-party service provider to help collect deposits, give monthly mortgage statements to your landlord, and keep moving.
One downside when you give financing to the owner is that the borrower must repay the loan according to the terms of the loan. Nonetheless, there is always a risk of buyer default. As a mortgagee or lender, you ‘d need to be comfortable negotiating with the borrower to change or alter the conditions to eventually get them to repay the loan. Or you might may need to continue with the foreclosure process in order to recover possession of the land.
Consider Your Other Options
If selling simply isn’t in the cards and you need to move, there are other options. You can rent the house out as either a short or long term rental. The trouble with this can be finding great tenants and retaining them for as long as possible. Renters can be quite nomadic, and tenant turnover can cost you dearly. If you haven’t done this in the past, consider hiring a property manager to help you keep everything in order.
Do you want to sell your house in Oklahoma City? Find out what we can do for you! Send us a message or give us a call today! 405-395-2085
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