How you can sell your house without the stress and uncertainty
Eliminating the stress and uncertainty of selling a home is the GLG Homes mission. We do this by sharing with you all of the options available to you and then helping you through your chosen path. What do we mean by options? Well, we see too many homeowners unaware of the number of ways to sell a home. Thus, selling a home becomes stressful and filled with uncertainty. The anxiety can make some homeowners unsure of what to do or even where to begin.
But that’s not you. You’ve made the decision that you have a property that needs to be sold. Whether it is yours or an inherited home, or maybe you’ve been a landlord – you’ve reached the point that selling the house is a necessity. Now comes the big question – how do you sell your home and feel good at the same time?
Define your goals and needs
Before you can answer that question, you should have a goal in mind that supports what you need done. Once you have that goal, then you make a plan. And, yes. Selling a home takes planning. Like anything else, it is a process. And a process takes a plan. But a plan is only going to help if you have a goal defined. So, you’re selling a home – here are some common “goals” people have:
- Sell the house in the next 3 months
- Sometime this year is good
- Depends on the market, then sell it
- Not sure we want to sell, but think it’s something we need to do
So now you have a goal. If you need to sell the house in specific period of time, your goal should have a month (or even date) attached to it. If you need to make a certain amount of money (e.g. to cover the mortgage payoff and have money towards a new purchase), then your goal should be based on the comparable market price in your area.
Maybe your needs are more immediate but your goal is still to sell the house at a comparable market value…but the house doesn’t look like those comparable homes. What’s the plan?
To put your plan together, you need to know your options. With every scenario there is more than one option but there is ultimately a particular option that is going to best fit your needs.
This sounds like a lot of work. So what if the plan could be handed to you? What if you don’t need to get all of these things defined and figured out? What if you want to eliminate all of that? We can help. But first, you should know what options will make the plan work and accomplish the goal so you can sell your house with confidence.
Know your options
First, as a reminder, we work with realtors (nationwide) and are licensed realtors in Connecticut. Selling a house on the MLS works for most people and, more often than not, is the best path for selling real estate of any form. We encourage you to talk to us about listing your home or we will connect you with a realtor that can assist you.
After you consider listing a house on the MLS, there are other ways to sell it. Commonly, homeowners will explore the “for sale by owner” (FSBO) approach. This works extremely well if you are adept at marketing, have the luxury of time and can handle any showing requests and follow up on inquiries. If you are still living in the home, this might be a good path. If it is an inherited or out-of-state home, that might be a bit challenging.
Up next, you have the option to sell the house as a lease-option or lease-purchase. In these cases, especially a FSBO, you are effectively securing a tenant for a contracted period of time until they have the cash and credit to get a loan. This can work well for FSBO but realtors tend to shy away. Mainly because a lease-option or lease-purchase presents a headache for collecting sales commissions. The difference between a lease-option and a lease-purchase is that an ‘option’ approach means the leasee can exit at any time without penalty. In a lease-purchase, both parties have agreed to a purchase and are contractually bound to complete it. In both cases, the purchase price is locked in and non-negotiable even if the market goes up or down at the time of the commitment date for final purchase. (There’s more to it, but that’s the basics.)
We love this next approach
Next comes the seller-financing approach. We love this approach. It is truly a win-win scenario for the homeowner and the buyer. With GLG Homes (as the buyer), we provide seller-financing terms that not only help the homeowner get immediate relief on the expense and maintenance of the home, but also earn income. If you own an inherited home and want to sell it while earning additional income, this is the best approach. It’s also one of the easiest and fastest ways to sell a house. We (GLG Homes) account for all closing costs and attorney fees. You pay nothing, get your house sold and earn additional income on the house.
If you are in a difficult situation or the house is just in need of major repairs (to be sold), a cash offer is going to be your best and fastest option. Yes, it means you sell your house for less than the market value of a comparable home. Comparable homes that either don’t need any repairs or have been fully renovated. Otherwise, your home is below that comparable value. Any good realtor will advise you of this. We offer cash for homes, cover all closing costs and will find ways to assist with any hurdles (such as clean out, moving trucks, storage units, etc.) to help you move on.
Oh, there is one other option if you have a house in need of repairs but don’t want to take a cash offer. You can still list the house in ‘as-is’ condition on the MLS with a licensed realtor or as a “for sale by owner”. You may find that it takes a long time to sell the house. Or, that all of the buyers calling you about it – are looking to give you a cash offer (discounted off your price). It’s an option, but doesn’t fit for many people.
Decide what fits your goals
It all comes back to that first question. What is most important to you? If the answer is “time” – then taking this path means you are either ready to sell the house as-is and below the comparable market value. Or, time is a luxury and the maintenance of the property, taxes, utiliities and insurance are not a concern. In this case, your best move is to either sell the house “for sale by owner” or list it on the MLS with a licensed realtor at the maximum comparable market price.
Or, maybe you are only concerned about selling the house and money is more of a pressing point. Whether it is to avoid the cost of repairs or the situation just does not fit your life, selling the house fast will get you paid in a matter of two or three weeks. In these cases, a cash offer is your best bet. Especially if the buyer (e.g. GLG Homes) offers to purchase without any inspection contingencies or offers to cover all closing costs.
Having a plan is good, but now you need to execute it. Now that you have an outline of what can be done and how to do it, get moving! You are only adding to the stress and uncertainty the longer you wait. Sometimes getting started is the hardest, but once you take that first step – you will be surprised how easy it all comes together. We are here and would love to help you.
So, what is the first step? Here’s a simple breakdown for you:
- Get your desired price and time is a luxury – list it For Sale by Owner
- Sell at a strong market value but don’t want to deal with listing, marketing, etc. – work with a licensed realtor
- Immediate sale, time is not a luxury and can’t afford any fees – get a cash offer
- Sell it soon is good enough, but want close to comparable market value – consider lease-option or lease-purchase
- Selling is preferred but want to keep earning income – consider seller financing
Aside from the “for sale by owner” path, we here at GLG Homes can help you with every other option. Well, if you call us we will even advise you on how best to list “for sale by owner”.
So, now you know how to get started. We’re here to help.
Call us at 203-993-6700 or email [email protected]. There’s no obligation to our time.