In my last article and blog post, I wrote about the competition to sell your home being Short Sales and Foreclosures. Not only do they create a huge problem in activity and showings, they create even larger problem when your home must appraise for the contract price. Many appraisals are coming in lower than the agreed upon price. It’s a problem that is typically not discussed until it happens. As a Property Management Company in Gwinnett County, Georgia, selling or renting a home has become much more difficult.
If your home is under contract for $200,000, the typical fee to list, market, and sell your home through an agent is around 12% and can be as high as 15%. That’s $24,000 for a $200,000 home. That means you need $24,000 in equity or you may be bringing a check to closing. If there are 2 or 3 Short Sales or Foreclosures in your neighborhood, there is a good chance they will be included in the appraisal. When they typically sell for 15-40% discount, it doesn’t take many of these to affect the market value of your home. Before listing your home, make sure the real estate agent provides you a CMA and a Net Sheet. These should give you a realistic assessment of the market value and cost to Sell Your House. If you do decide to list with a Realtor, remember that it cost just as much to hire the best as it does to hire a beginner.
However, you can sell your home yourself faster and for more money. How? By selling it with Owner Financing or a Lease to Sell. Yes, you may have to wait a short period of time for the buyers to qualify, but you will save the commissions, fees, and may side step the appraisal issues. How? When you sell your home with Lease to Sell or Owner Financing there isn’t really any negotiating with the buyers and there are no fees. You can save the $30,000 by being patient. You still have to market the home at present value and you will have to market the home in a different way. When done properly these two methods can be an excellent way to profit and benefit from this down market. By the way, this is the only way I have been selling my own homes for over 2 years. It works! Make sure you structure the sale properly so both the buyer and seller are protected. If you need more information or would like for us to assist you, visit us at www.4thavenuepropertymanagement.com.
We currently have over 1,400 buyers who are looking for homes in the Gwinnett County area. We have more buyers than we have homes to show them. If you would like for us to assist you in profiting from this real estate market by selling or renting your, visit us at www.4thavenuepropertymanagement.com or call us at 678-835-8577. Our service cost you absolutely nothing. There is no obligation or fees. We typically can have a home filled in 45-60 days. Our record is 23 days.
This is still a buyer’s market and if you have little equity left in the home and do not have the ability or desire to bring cash to closing, or a short time frame, this may be an excellent way to solve your real estate problem. You bought your home as an asset, sell it as one.
4th Avenue Property Management is a Property Management Company in Gwinnett County, Georgia. We offer Property Management Services specializing in rental property management in Lawrenceville, Buford, Suwanee, Sugar Hill, and Dacula Georgia. If you are currently selling or renting a home, visit us at https://www.7708262426.com/, for a solution to your real estate needsCall us today at 678-835-8577 or fill out our Seller’s Form. We will contact you as soon as we receive your information.