Know your options when selling your home
Selling your property is a big decision and regardless of why you’re selling.
Knowing your options puts you in a position to make a well-informed decision and not an impulse decision.
This makes all the difference in how much you make on the sale.
Did you know there are multiple ways to sell your home other than the traditional way?
At TMG E-Vestments we are a resource, not a sales pitch.
You choose what’s right for you and your situation!
We’ll walk you through the rest! Don’t sell yourself short!
Educate yourself on your options!
Option #1 - Hire a Realtor
Hiring a Realtor is the traditional way to sell your home! We get it! Hiring a realtor is a great solution when selling. Realtors are well versed in the market and can help you achieve your goal when it comes to selling your home. Just keep in mind there are some situations where selling your home means you’re bringing your checkbook to closing, fixing the things you didn’t want to, or offering concessions on top of paying commission. That may not work for you and we’re here to tell you there are other solutions when it comes to selling. We work with Realtors on properties with little to no equity or just having a hard time selling.
Option #2 - For Sale By Owner
Selling your home For Sale By Owner is a great alternative to hiring a realtor. Just remember all the work that comes with doing so. Calls, showings, making sure buyers are pre-qualified. Keeping the property looking great for buyers to tour. It’s a lot of work but it will save you thousands when it comes to selling. Also, keep in mind that selling FSBO means you have to deal with buyers’ agents which may ask for commission and concessions if the home is not in tip-top shape. You do however have multiple listing sites available so there are a lot of pros and cons when it comes to selling FSBO.
Option # 3- Cash Offer
Cash Buyers are a great option if you are in a situation that you need to solve quickly. This option is not for everyone! Cash transactions usually require the seller to sell at a discounted rate. BY NO MEANS DOES THIS MEAN YOU HAVE TO GIVE AWAY YOUR PROPERTY. This is usually a solution for a lot of situations especially when the property isn’t in great shape and the seller doesn’t want to fix the property so instead, you have the option to sell quickly as is with no money out of pocket. The number we tell you is the number you walk away from the table from. No commissions, no closing fees, and no strong-arm or low ball offers. If you’re not comfortable with the numbers, we provide numerous other options to sell your home! When dealing with cash buyers be sure to ask for Earnest Money to ensure you’re dealing with a real cash buyer!!!
Option # 4- Lease Purchase
We LOVE Lease Options, matter of fact this is our favorite strategy.
This is initially a lease agreement with the option to buy! So you the Seller get the full price with no negotiations. Most importantly no commissions are paid out. Typically we work with people who for whatever reason can’t get approved for a conventional loan. However, with our partners, they are on a fast track to getting approved for a loan so they take very good care of the home since they are working to buy this home for themselves. Repairs are taken care of by optionee, we require optionee to get a home warranty which means most repairs are covered under the home warranty. No midnight calls. We work with optionee throughout the lease-option period time to ensure they are on track to acquire lending at end of the option period.
Option # 5- Novation Agreement
Novation Agreements another one of our favs! Everyone wins with a Novation Agreement however, it’s not an ideal option for everyone. Depends on your situation and timeline! Novation Agreement is when we renovate the property and we take care of the renovations from start to finish and manage the whole process and then when renovations are complete we list the property and sell the property for full retail price and you make a considerable amount more than a cash transaction and our firm also benefits from the transaction. This is truly a WIN/WIN. However, this isn’t for everyone!
Option # 6 - Subject To
Subject To Creative Financing at it’s best! Sub To is when we purchase your property Subject To the existing loan. The Transaction is run through a title company and we close on the property as you would in a traditional sale however, the loan stays in place and we take over the payments. Essentially repairing credit in foreclosure situations, maintaining your credit if you’re leaving due to a work transfer and you don’t have enough equity to sell traditionally. Absolutely no money comes out of your pocket for these transactions, we take care of everything from start to finish. And to make sure you are protected in these transactions we hire a servicing company to put in place a performance deed just in case we’re abducted by aliens so the house goes back to you if we don’t perform.
Which doesn’t happen!
Option # 7 - Seller Financing
In seller financing, the seller takes on the role of the lender. Instead of giving cash to the buyer, the seller extends enough credit to the buyer for the purchase price of the home, minus any down payment. The buyer and seller sign a promissory note (which contains the terms of the loan). Another benefit of seller financing to an owner is, after the sale of the home, s/he would be receiving a steady monthly income. In some cases, owners can avoid or spread out paying capital gains tax on the sale of their property by delaying the ultimate sale of their property. You the owner get full price and you are no longer responsible for the property. You just sit back and wait on the checks.