Whatever the reasoning behind selling your house, whether you’re trying to avoid foreclosure, you’re liquidating shared assets for a divorce, you’re trying to pay for the probate charges associated with an estate or you’ve inherited a house you don’t want, you still want the absolute most money that you can get out of selling your property. The best way to go about this is to first manage your expectations.
Think of selling your house much like when you try to sell your grandmother’s china set at a garage sale. Even if you’re ready to get rid of it and you don’t think there’s any sentimental value in it, you’ll still be at least slightly offended when someone tries to undercut the price you’ve marked it with. Not because they’re trying to get a deal out of you, necessarily, but because they’re simply offering you what it’s worth. Just because you don’t think your home is backed by sentimental interest, you’re probably wrong. What you think the property is worth is entirely founded on all of that information, so to properly analyze the situation, you’ll have to sit back and think critically about what your house is worth, not what the house is worth to you.
Start With The Market
Just like back in the medieval ages, if there’s not a market for something, it’s not going to get bought. You can comically make fun of people selling single roses out of baskets like in a cheesy musical, trying to make a living, until you’re the one trying to hoist a product no one wants onto the public. Gaining an intimate understanding of the housing market in your area can be achieved in more ways than just raw experience. Google is the handiest tool ever created and there’s no reason a quick search might help you get a better pulse on what the current housing market in Northern Colorado is asking for. We’ve actually provided a few articles on how the market is likely to progress and how the trends on Zillow are unfolding. If you need a bit more of a tangible take on the market rather than future predictions, jump on Zillow and check out average days on the market for a couple of similar properties. Keep in mind this isn’t a good metric of how long your property will last on the market, but it will tell you if there’s a market for a house like yours at all, that is sparing a few caveats.
Whether you’ve made major repairs in the past or you’re in need of major repairs now, that should all factor into your ideas about selling. If you’ve made considerable repairs to something that could be a continual problem, like foundation issues, you can’t hide that from the new buyer. You’ll have to let them know what the property has undergone and whether it’s a beneficial repair (like hardwood flooring) or you’ve managed to dodge a bullet on a major repair that only spells issues sometimes down the road, that will affect the dollar amount you slap on the price tag for your house. You should probably keep in mind that many prospective home buyers won’t want damaged goods and if the repairs you had to perform have to do with something as crucial as the structural integrity of the house, the value of the house will significantly decrease.
Having Trouble With The Market?
Sometimes, the best way to get the most money out of your house is to start fresh. More often than not, real estate can be a bum investment even though it’s one of the only ways to create financial stability. Other times, real estate is the very seed of financial stability. If you’re not having any luck with the market and you have to move on, Colorado All Cash is the answer. We’re here to provide a way to start fresh on your investment portfolio. Reach out to us if you have questions about our fair and balanced all-cash offers on properties around the Loveland, Fort Collins and Greeley area. We look forward to hearing from you and honestly exploring your real estate options.
Looking for a way to get a house out of probate, a way to pay for you assisted living needs, or are you exploring options to get out of owning a bad rental property? Contact us today for a solution.