Selling a home for full market value is harder than you think. If you are thinking, “how can I sell my home fast for market value?”, all you need is a little money and renovations.
I am going to give you my tips to help you sell your home for market value in a retail/wholesale environment.
Do Your Research
You need to understand what the market prices are for in your exact neighborhood first. Just because Zillow says your home is worth $300,000 doesn’t mean it really is.
I have gone into neighborhoods where on one side of the street a home will sell for $300,000 and then the home around the corner will sell for only $280,000. Price is determined by what buyers are willing to pay for a home in a given area.
Zillow assumes your home is in perfect shape and no repairs are needed. This is almost never true because every home has some deferred maintenance that needs to be solved prior to listing.
Zillow assumes because your home is a similar model to the home around the corner, your home will be worth about the same price. Well, your home isn’t going to sell for the same price because it is not in the same condition.
Maybe that home around the corner has new flooring, paint, and kitchen. Maybe your home has new everything! This will dramatically change the price someone is willing to pay for your home.
If you want to sell for full market value, you need to make your home look like the home that sold for the most in your area. It really is as easy as that, for some…
Understand Your Financial Situation
If you can afford the contractors to come out and handle the repairs, do it. Contractor prices are really high right now because the economy is still in a boom. They aren’t struggling for work so they get to set prices as they see fit.
Do not skimp when it comes to renovations, you can do things on a budget, but if it’s not done well, potential sellers will say something.
You will be disappointed when you don’t sell your home for market value. If the comparables say to put new countertops, put new countertops. Please, check your budget. It is easy to get caught up in price or selling for top dollar rather than just selling it and avoiding the hassle and time commitment.
It’s okay to not sell your property for that full price. Instead of trying to get $300,000 because your budget won’t let you finish the work, list the property for a little lower and take what you can get.
Remember, you will need to pay the realtor and escrow and title fees so you were never really going to put $300,000 in your pocket anyway in this example.
Maybe Your Home Has Too Many Repairs
If you want to sell your house but either have too many repairs or can’t afford the repairs, I’m going to guess your property won’t qualify for a loan in this case and you will need to sell for cash.
Don’t let this discourage you! Selling for cash is the easiest process you will ever do yourself.
If you want to avoid realtor fees or paying commissions, call me directly or fill out the form on my website.
I personally will walk you through the process and come to your home. We negotiate the price together and you sell your home in a matter of hours. I will pay all the closing costs and all you have to do is sign closing documents.
Yes, you can call a realtor who will tell you they can sell it for more on the MLS, but remember, the average days on market is about 70 days for the Reno-Sparks market and you will be forced to pay fees.
With me, you’ll have no fees, no commissions, just two or three normal people agreeing to terms and closing on YOUR timeline.
So Do You Still Want to Sell Your Home Fast For Market Value?
Market value is tough because it heavily relies on the shape of your home. When we remodel a home, I pick the highest priced comparable in the area and then make my property look similar or better to get the highest price possible.
When you are thinking about selling your home fast and for market value, please consider the realities of your home. The reality is no home is created equal and you will not make the full amount often times.
Fees usually take up about 10% of the purchase price and therefore, your net number is lower than you thought. I incur the same fees when I sell a property so don’t think you can avoid them.
All I ask, and realtors will say the same, you need to be realistic about the condition of your home and do some research before you assume you can sell your home for more than the neighbors home.
Happy to answer any questions you may have! Call or email for a free cash offer or valuation!