Monthly Archives: April 2015

What You Need to Know About Selling a Property

selling-property

There are many ways by which you can sell a property so that the family earns additional income. You can sell through a real estate agent or to a cash home buyer. You can also sell at an auction, or make private arrangements directly with a buyer or through a mutual acquaintance. Before the deciding on which property sale method to go for, you must learn what works best in specific situations.

Immediate sale

If you need to sell your home in a week’s time or less, you can sell to real estate investors. If you don’t want the house anymore and the priority is to get it out of your hands, then this is your best option. There are many other reasons why you ought to work with specialist sellers instead of real estate agents. For instance, it is better to sell to an investor if you are involved on an estate sale, if you are going to relocate for a new job, or if you are faced with a foreclosure or dealing with bad tenants. If there is not much equity in the property, the best solution is an investor that is willing to take the problematic property from your hands and resolve pertinent issues.

Find a quick sale company with a good track record. Don’t settle with the first offer that comes your way. If you make hasty decisions you might lose out financially. It is also important to clarify first whether the company will buy the property directly or find a third party buyer instead. They are still the best recourse if there is a financial conundrum to sort out as soon as possible, or if the urgency of the sale is due to mitigating circumstances such as poor health in the family or marital problems.

Cash on hand

You only need to find the right buyer if you do not want to be bothered by home inspections and appraisals, or face the hassles of approved financing. If you prefer to expedite the process, you will ask for cash payment. Fortunately, there are private buyers that pay in cash. The alternative is to find a reputable specialist investor with a cash offer.

On negotiations and legal matters

Once you are assured that the person or company you are dealing with is a legitimate prospective buyer, prepare yourself to negotiate terms. The property owner must never hesitate to establish grounds. During the negotiation, remember not to allow the other party to pressure you into a decision. Perform your own valuation and make the comparison with the figures offered by at least three real estate agents and the prospective buyer’s assessors. You must not be satisfied with verbal assurances. Everything must be written down, and negotiations ought to be completely documented. Before signing anything, a trustworthy legal adviser should go through the papers in detail. But then, do not rely fully on your legal representation. You must also read the agreement and understand the contents fully. If some details are unclear or confusing, make the effort to clarify them before finalizing the contract.