Do you want to sell your home in Sacramento? Not so fast! Many people aren’t aware of the alternative options, and we want you to be informed before you move forward.
Selling your house can be a daunting task; the process of listing it on the MLS (Multiple Listing Service) isn’t always as simple as is seems. There are repairs to make, cleaning to maintain, open houses, showings, bills and other hurdles to clear — all while you are trying to move!
Thankfully, there are alternatives to a listing that may work for you and limit your stress. You should consider some of these alternatives to a traditional listing when you think you’re ready to sell your Sacramento house.
Offer a Rent To Own Structure
Offering your house in a rent to own structure is a great way to get the property in front of more potential buyers. It could also guarantee you’ll get full retail value for the home, and sometimes more. There are MANY people out there looking to buy a home who fail to qualify for a traditional mortgage. This could be the result of a minor blemish on their credit from years ago, or maybe they’re simply unable to come up with a down payment.
Either way, some folks will pay a higher than average rent in exchange for the chance at future home ownership. To get started, the buyer will pay you an agreed upon lump-sum payment. The buyer then continues to pay rent over a period of several years, with a portion of the rent going toward their down-payment for an eventual purchase. At the end of your agreed up on rental period, the buyer must purchase the home outright. Since they no longer have to come up with a one-time down payment and they’ve had time to rebuild their credit, they may be in a great position to get a traditional loan. Make sure your contract sets up terms for all scenarios — including one in which the renter decides not to purchase in the end.
Hold As a Rental Property
Have you ever pictured yourself as a landlord? The prospect scares a lot of people off, but it may be a great way to earn passive income on your property. Especially if you have a low mortgage payment in an appealing area with increasing rents. With careful screening, you can find some wonderful, low-maintenance tenants. Many people who aren’t able to sell the traditional way opt to rent their home out instead.
If it seems like too much work, you can always hire a property management company to help you with routine maintenance and rent collection. Many people find owning a rental property is an excellent way to secure extra income.
Selling to A Direct Buyer or Investor
When you choose to sell your home directly as-is, you will likely save many out of pocket costs you encounter when listing it through a Realtor. You won’t need to pay a listing agent, make repairs, or clean up to show off the property at open houses. With a direct sale to an investor, the process typically works much more quickly. And, since direct buyers are usually paying in cash, they are able to close without relying on bank funding and all of the accompanying red tape.
When you sell your house directly to an investor, make sure to read the fine print and that the terms are agreeable to you. When selling on your own, you will not have a professional to help guide you. Not all home buyers are the same!
Many people are turning to auction services to sell their [marlet_city] homes. Choose a site or person who will generate buzz about your property using excellent marketing. The goal here is to draw attention to your home and encourage buyers to outbid one another.
An auction is great for people who want to want to sell and have a definitive date. By selling quickly, you can potentially save thousands as opposed to listing your home.
Factor in your mortgage payment, homeowners insurance, property taxes, repairs and general depreciation, and you’ll see that holding on to a home, that isn’t income generating, is only costing you money.