When it comes to selling a contemporary houses, then everyone wants to get the top market price for his house. But, the price that he will get for the house depends on repairs and replacements required in the place. For an instance, if you are trying to sell a house that needs repairs in kitchen, bathroom, floor, needs repainting and more then you cannot expect good price for it. Not only you will get less price but all the repair costs would be considered while estimating price for the house.
However, people usually look for the way which would allow them to get the maximum price for their house. If you are also trying to sell your old house then we would like to tell you the available options. After reading these, you will be able to detect that which option meets your requirements the best.
As mentioned above, the required repairs can decrease the value of your house to a great extent. Even the minor defects (which you would have considered insignificant) can make the big changes in price. So, in order to get the best possible value for your house, you can get it repaired yourself before putting it into the market. This would allow you to represent your house in its best and to attract great offers for its sale. However, here are the graphs that display the estimated costs for different repairs and replacements, along with the other costs that you need to spend while selling your house.
The next option is selling your house “as is”, i.e. in the present condition without any fixing. You don’t need to make any repairs or renovations. You can consider this option if you need to sell it fast ASAP or you are not interested in getting it repaired. However, this option provides you two further choices.
– Selling your house for cash: The money you get this way can be used for your urgent monetary needs or can be invested in other properties.
– Selling it for payments: In this, you will get a fixed stream of monthly payments that will let you make more money in the long run.
If you want to save on the realtors’ commissions then you can consider this option. But you should not go for it if you are selling a house the first time. No doubt that you will be able to save some money, but it will waste your time and can extend your monthly carrying cost.
MLS (Multiple Listing Service) are the lists which include the houses listed with realtors. When you will put your house on this list then it will be shown to the realtors and buyers looking for the similar houses.
However, you can also list your house with a realtor. In this case, you would be required to pay them a commission for the expertise and guidance you will get from them.
Sometimes, you can get a greater return on your money by renting it out. It is the best option if the market is down and you want to wait for the prices to rebound later.
It is also a good option if you are looking for high returns. You will be surprised to know that the monthly payments will let you get higher returns than bank savings, the stock market or any other source. You can receive a sizeable cash for a period of 3-5 years in this type of deal.