Common Considerations Before Putting Your Home on the Market

Selling your home is an endeavor that requires great planning and care. If you’re thinking of selling, this is a good time to do so too – interest rates are still fairly low, but many economic watchers say they may start to rise soon, affecting the markets.

Perhaps you live in a community where housing prices are rising rapidly to high levels, which makes selling even more appealing. The dream of an easy and lucrative home sale is often tarnished by the realities of the market, the state of your home, and other external factors.

As exciting as it is to start making a dream of putting together an easy and lucrative home sale, these ideas often fade away when someone looks at the state of their home.

Maybe there are minor and major repairs that are needed which would come up during a home inspection. It’s always easy to put these off due to lack of time and extra cash. After all, why pay thousands for a new roof/water heater/whatever if the current one is working just fine?

There could be older décor that a new homeowner may not like. There could be damage from pets or kids or natural disasters. There could be items not up to code. It could be rental property that tenants have trashed but you haven’t been able to make the capital repairs.

All these items are fixable, but the imaginary price tag and timetable to get the work done seems to grow and grow, and you start to wonder if selling your place is even worth it with all the disruption that renovations and repairs can take.

Even if renovations and repairs aren’t needed, you may be unsure about your home’s physical condition. Though you may keep up with the daily cleaning, there may be some deep cleaning that’s neglected. And doing this can take time or be expensive if you bring in professional cleaners to help.

If you have equity remaining in your current home, you can consider applying for a home equity loan or a secured line of credit. You can use some of these funds to make these repairs, sell the home, and then use some of the proceeds to pay off this loan. Or increase the sale price to include the loan along with your mortgage.

A short sale might be an option if circumstances are right. Here, the house may not sell for current market value, but just enough to discharge any debts. This can work if someone is ready to move on, avoid bankruptcy, and isn’t necessarily about making a huge profit.

Another popular option is to find firms where the condition of your home doesn’t necessarily matter. Some real estate companies are designed to be seller-friendly and make the process as easy as possible.

Some may buy your place yourself and then put the effort in to clean and fix everything and then sell it, for likely a higher price. Everybody wins this way – you as the seller will get your money and be done with the sales effort and home that still needs some fixes. You’ll still have to move out and find a new place, but you can leave knowing that you didn’t have to expend too much effort, and in the end got a good deal in the process. ( Reviews) offers a unique opportunity for sellers by providing an off-market platform which serves as one of the largest marketplaces for home sellers. Each home is presented as-is to prospective investors, and the format can generate multiple offers. “There are so many questions that come with the home-selling process,” said a representative. “Homeowners often throw money at solutions to bring about a quick sale, but navigating the best route to sale often requires professional assistance and insight.”

When selling your home, understanding your options begins with asking the right questions and taking into consideration your ultimate goals, timelines, and financial situation. Remain informed when moving forward with a home sale is of utmost priority in selling well and planning for your best future.

Written by Eric

37-year-old who enjoys ferret racing, binge-watching boxed sets and praying. He is exciting and entertaining, but can also be very boring and a bit grumpy.