Buyers want the best possible value for their buck, and even small differences can make or break a sale. Even a great property can languish on the market if the seller doesn’t lower the price to compete with comparable properties.
— Since a house is a major asset, selling it for a profit is essential for most homeowners. While many housing markets are seeing growth, sellers often find that it’s hard to compete against comparable properties. Maximizing profits when selling a home is possible if the homeowner invests time, money, and planning into the sale.
Make Small Improvements to the Property
Offering buyers a move-in ready property is essential in today’s market. If a home needs upgrades or repairs, many buyers will walk away. Repair or replace damaged appliances, fixtures, doors, and other features. Make minor upgrades like switching out cabinet doors, getting new carpet, or replacing wallpaper and outdated colors with a fresh coat of paint. Improve curb appeal with landscaping, a new paint job, or a new front door. However, avoid major financial investments, such as gutting the bathroom.
Know the True Value of the Property
A Realtor or appraiser can determine the true value of the property, allowing the seller to know how much they can expect to net from the sale. This can help the homeowner decide if an offer is too low. Knowing if an offer is higher than the value of the property is also important, as lenders will not offer financing above the value of a home. Only a buyer who can pay the balance in cash can afford to make a bid above the property value. Locating a cash buyer can help the seller get more money, especially if the property needs a lot of work.
Plan the Next Move
Many homeowners find themselves unable to accept a good offer because they aren’t sure where they’ll live after the sale. One option is to arrange to stay with a relative, but temporarily renting a small apartment, condo, or house can be a great option, as well. In rare cases, the buyer may be willing to arrange a later move out date if the market is hot.
Selling to an Investor
Home investors can be a great option for maximizing profits if the home needs a lot of work. When calculating how much a house will net, the seller should calculate how much money they are investing in the property, as well as the value of their time. Often, it’s not worth the extra time and money when a cash buyer is willing to purchase the property as-is. The homeowner can have cash in hand quicker than they could have added a fresh coat of paint.
For more information on maximizing profits when selling a home, contact us at (281) 533-5555 or visit http://www.cashofferforhouse.org/ for more information.
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