Do you want to sell your home in Tampa? If so, we want to share some possible alternatives to a listing. Many people aren’t aware of the options that are often available! Check out our latest post to learn more about what is available for you!
Selling your house can be a daunting task. The process of listing isn’t always as simple as it seems. There are repairs to make, cleaning to maintain, open houses, showings, bills, and other hurdles to clear all while you are trying to move!
There are alternatives to a listing that can work much more efficiently in some situations. Consider some of these alternatives to listing when you are ready to sell your Tampa house!
Rent To Own
Setting up your house in a rent to own structure is a great way to get the property in front of many more potential buyers. It is also a way to guarantee you will get full retail value for the home, sometimes more. There are more people out there looking to buy a home than at any point in recent memory, but they fail to qualify for a traditional mortgage because of a minor blemish on their credit from years ago, don’t have the required job history, or they are short on a down payment or they have another mortgage on a different property.
These are great people, who will be likely to pay a higher than average rent in exchange for the chance at homeownership. To get started, the buyer will pay you an agreed-upon “lump-sum payment up-front which is essentially a down payment. This acts as a deposit should they fail to hold up their end of the deal. The buyer will also pay you a higher than average rent with a greater APR than a typical mortgage would entail, with a portion of the rent going toward their down-payment.
At the end of a year or two, the buyer must purchase the home outright. There are many ways you can set this up and this is just a basic guideline. This is a much more flexible way to buy or sell a home and can end up being mutually beneficial. Choose the terms that work for you!
Hold As a Rental Property
Have you ever pictured yourself as a landlord? In some situations, it can be a lot of work. While other times, and with careful screening, you can find great, low-maintenance tenants. Many people who aren’t able to sell the traditional way, will instead opt to rent their homes out. Having a rental property can be a great way to add cash flow to your bank account on a monthly basis. If the thought of having tenants or finding a reliable property manager doesn’t bother you, this can be a great choice.
Selling to A Direct Buyer or Investor
When you choose to sell your home directly, you will likely save many out of pocket costs you encounter when listing. You won’t need to pay a listing agent, make repairs or clean up. With a direct sale to an investor, the process typically runs much more quickly. Direct buyers are often paying in cash, so they are able to close without relying on bank funding. This takes away the chance the bank decides to not loan to the home buyer or any number of reasons someone wouldn’t close.
When you sell your house directly, make sure to read the fine print and that the terms are agreeable to you. When selling on your own, you will not have a professional to help guide you. Not all home buyers are the same! Remember you can always have an attorney review the contract if you have any worries or question the validity of the direct buyer you are talking to.
Many people are turning to auction services to sell their [marlet_city] homes. Choose a site or person who will generate buzz about your property using excellent marketing. The goal here is to draw attention to your home and encourage buyers to outbid one another. Online auctions are becoming more and more the norm attracting an increasing number of investors.
An auction is great for people who want to want to sell and have a definitive date. By selling quickly, you can potentially save thousands as opposed to listing your home.
Factor in your mortgage payment, homeowners insurance, property taxes, repairs, and general depreciation, and you’ll see that holding on to a home, that isn’t income generating, is only costing you money.