Unique Approach to Selling Your House FAST!
In today’s market where there are so many houses competing to sell, and they are sitting on the market as long as 6 months to a year, you have to be able to get your self distinguished from the rest of the crowd. This article is especially important if you are facing foreclosure.
When you deploy some or many of my strategies, you will be able to sell your house faster, without sacrificing the price. I am sure that most people understand the importance of CLEANING AND DE-CLUTTERING the house, as well as CURB APPEAL AND FRONT DOOR apperance, so I'm going to skip what's obvious, and get right to the other often neglected strategies for the Sellers.
1. OFFER CREATIVE FINANCING
In addition to being in the declining market, buyers are having a bad time trying to get financing. What if you can advertise your house for Owner Financing, or Rent-to-Own? Will this make your house stand out? Will this make your house more valuable? You bet it will. Creative Financing is POWER. Many home owners shy away from doing the owner financing, but this may be a great way to save the house from going into foreclosure, if you just know how to apply this to your advantage.
For example, let’s say that you are 4 months behind in payment, and you have to sell the house quickly. But, even if you are not behind, how about offering Rent-to-own, with the Option Money to cover the 4 month behind or if you are not behind, just put that into your pocket, and get enough rent to cover your monthly mortgage, plus tax and insurance? Option money is a down payment for the buyer, but it is non-refundable, and that alone can save your house from going into foreclosure. The buyer is willing to pay premium for the house, say within a year or two. It might even be possible to make a little profit each month, depending on your total expenses to keep the house. Within an agreed upon term, the buyer is supposed to come up with the financing, and you will be off the hook. You are a landlord, but because this is structured as Rent-to-own, the maintenance responsibilities are shifted to the tenants, and since these tenants have the owner mentality, they will take care of the house. On the other hand, because you have not transferred the title to the prospective buyer, if they default on the rent payment, you can evict them, which is a lot easier than foreclosure. Guess what, the option money you received is non-refundable, because it is not a deposit. They paid you the right to the Option. After you evict the tenant, you can then look for another rent-to-own tenants.
I am experienced in this field, and have all the necessary paperwork, prepared by a real estate attorney to make this work.
Let’s talk about Owner Financing. This is an interesting way to attract more buyers. Many home owners are not aware that there are private note buyers willing to help you qualify the buyer, and help you structure the owner financing to the way they want (they will set the terms of the loan for you), and after the owner financing is set in place, at the closing, simultaneously, they will buy your note at a discount any where from 6-12%. If you are creative about this approach, you will set the listing price at the highest point that the appraisal will support, and you will not have to negotiate the price because of the fact that you are owner financing. In this scenario, it would also help to have your own appraisal, which will be used to structure the owner financing. In addition, it is also very likely that if you hire me as your realtor, we will advertise your house in a pocket listing, meaning, not in the MLS, to save you on the buyer’s side realtor’s commission. With this approach, I will aggressively advertise with Owner Financing, and bring the buyer without the help of another realtor, reducing your commission to 3%, instead of 6%.
2. DO AS MUCH HOME WORK AS POSSIBLE FOR THE BUYER
Home buyer’s fears are the “unknowns”. Make their fears disappear by providing them the information they are looking for:
a) Home Inspection Report
Hire a reputable inspector to do the job. I have an inspector in my team who will come back for the 2nd time for free. That would really be nice service. Why? Because when he finds something wrong with the house, you would want to do the repair, and make sure the repair is done correctly, and have the inspector re-issue the inspection report that eliminated the problem. If you choose not to do the repair, at lease have a quotation to repair, and document that the reduction in price for the house has been already considered.
b) Appraisal
I have some appraisers in my team who understands the need for the sellers, and are willing to give discounted price, because even if the seller already have the appraisal, a new appraisal may be necessary by the buyer’s lender anyway. If this is not feasible, I recommend showing the buyer, at least a CMA (Comparable Market Analysis) done by a realtor (me), to show them how they derived at the listing price.
3. STAGING
This is particularly important for selling the house quickly, and with the highest price possible. In my team, I have several staging professionals and Interior Designers. They understand the psychology of the buyers, what attracts them, and what not to do. Creating space, flow and ideas for their new home is emphasized, and you will receive FREE recommendations, or you may want them to actually do some of the staging. I have looked at many houses with my buyer clients, and I know how they come to making the decision. They will look at a lot of houses, but they are only buying one. When looking at many houses, it is very easy to get confused, so I help them to make a list of the houses, and start ranking them. However, if the house does not make the top 2 or 3, it is no longer important to keep remembering the other houses. They just have to remember the top houses at the end of the day. Many times, the listing agent wants to know what the potential buyer thought about the house. But if that house has been eliminated in the buyer’s mind early, it is simply difficult to even remember how the house looked. So, to answer the listing agent’s question, I just have to say, Oh, that house just did not stand out to the others. It was not impressive, or I really don’t remember how that one looked like, or what they said about the house. It just did not give them any “wows”. You see, if your house does not have the wow effect, you don’t stand the chance of being ranked in the top.
If you are interested in receiving a complementary E-book, "450 Ideas to Get Your House SOLD", please e-mail me at yoko@ILoveEquity.com. In the meantime, here is a shorter version of the ideas, that you can use. I offer a Team approach to selling your real estate. My Power Team consists of reputable professionals. My services include FREE consultation by a Professional Interior Designer. Remember, "Staging" Sells. It sells higher AND it sells quicker.
鹿島陽子
OES不動産
日本語で対応します。
Yoko Kashima
ONLINE EQUITY SERVICES
3608-200 Davis Drive, #134
Morrisville, NC 27560
www.ILoveEquity.com
e-PRO Certified, Short-Sale Certified
Life-Time Real Estate Consultant
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e-mail: yoko@ILoveEquity.com
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