Category: Blog

You’re ready to list your home and get it sold, so you can move onto the next phase of your life. Maybe you need to move out of state or perhaps you already live out of state and are trying to sell your parents’ home. Before you list your home, you need to think about five issues that you may have to deal with when you put the property on the market.

1.       Long Timeline

Even in a seller’s market, some houses can sit for months before finding a buyer. If your home is older and outdated or needs repairs, it could be on the market for even longer. You need to be prepared for that possibility since you’ll have to continue to pay utilities and upkeep for the property.

2.       Expensive Repairs

Maybe you had a real estate agent walk through the house with you and showed you needed repairs. Perhaps you already were aware of issues with your property. When you get an estimate for the work, you may be surprised at just how expensive it will be to fix up the place. If you don’t have cash reserves, you have to figure out a way to afford those repairs.

3.       Realtor Costs

When listing your home and putting a price on the property, don’t forget about realtor commissions. You won’t get the full price of the home, so you want to figure in an additional amount to cover those fees. When you put the house on the market, you’ll want to price it to sell but account for the commissions. Otherwise, you end up with less money than you planned.

4.       A Stressful Process

Selling a home can be a stressful time, especially if you have a deadline. If you live in the house, you must keep it clean and organized for showings. Living in limbo as you wait for an offer often makes homeowners feel unsettled and anxious.

5.       Busy Schedule

Most people today have a full schedule. When selling a home, they must fit in open houses, home showings, and time to meet with the realtor. If you decide to fix up your home, you also have to meet with contractors, work around their work schedule. It can almost feel like an extra job as it takes time away from the family or your other obligations.

How to Solve These Problems

You can avoid all these problems with a quick as-is sale to a real estate investor. If you’re looking for a creative way to sell other than putting your home on the market, talk to the team at Hometown Development. We can help you sell your home fast for cash in as few as five days. Reach out to us to learn more and get your free offer today.

If you have a rental property you’re trying to get off your hands, you might want to consider a real estate investor. They make the ideal buyer for someone in your position, and here are a few reasons why.

No Extra Costs

A real estate investor won’t require you to make repairs on the property before you sell. This is a big cost savings to you because many tenants are rough on properties and major work may be needed before renting again.

You also don’t have to pay the commissions for a real estate agent. A real estate investor is experienced with the paperwork and process, so they can eliminate a lot of the extra work that is often done by a realtor.

Your Property is Appealing to an Investor

Since you already have tenants, it is ready to rent with the necessary appliances and other features. Whether it’s a single-family home or multi-family dwelling, it has been set up or altered to be a rental. Real estate investors often like the idea of ongoing income with little work on their end. They may pay a management company or manage the property themselves, but the groundwork is already set in place.

You Can Sell Fast

When you work with a real estate investor, you can sell quickly for cash. You don’t need to wait around to find a specific buyer who has financing in place to close the transaction. Less paperwork means a faster closing when you sell your rental property.

Interested in selling your rental property? Talk to the team at Hometown Development. As long standing investors in West Michigan, we have years of experience in the industry and are looking for property like yours. We can help you avoid the hassle of a traditional sale with a quick cash offer. 

Divorce is never easy on either party. Dividing up a lifetime of belongings that you shared can be stressful and complicated. Your home is another asset that must be divided when you part ways. However, it can be difficult to know how a house is divided in a divorce. Here are some options that fit different scenarios.

Keep the Home

Some couples decide that one person can keep the home, especially if they have kids. The other person moves out and takes the items they want while the other person takes over the utilities and mortgage payments.

The challenge with this option is that the person who gets to keep the home must be able to “buy out” the other person or pay half the value of the property. If you don’t have the cash to pay for the other half of the home, you may not be able to keep it. Your other option is to give them your share of other assets which value as much as half the property.

Sell the Home

Your other option is to sell the house and split the proceeds. This is the path most divorcing couples take. However, this process doesn’t happen overnight, and it can delay the divorce by several months while you wait for the home to sell. You also must agree on everything, such as whether you will make any repairs and how much you will spend. You must also agree on which offer to accept.

Sell Your Home Fast

A real estate investor can help you sell your home quickly, so you can finish up your divorce and move on with your life. They can buy in a shorter time, and they won’t care about the condition of the house. An investor can make the challenges of liquidating your most valuable asset a little easier.

Need to sell your home after a divorce? Hometown Development can help We help homeowners sell quickly for cash, so they can get their home off their hands and move onto whatever is next in their life – with no repairs, no realtors, and no hassle. Reach out to our team for your free cash offer.

If you’re planning to sell your house in Michigan, you’re probably anxious to get it on the market. However, there are some important financial steps to take first to ensure you make the right decisions. Here are four to focus on before you start searching for a home buyer.

Examine Finances

The first thing you should know is where you are in your mortgage. How much do you owe? When is the final payoff? You’ll also want to consider other debts you have and how much they add up to. Don’t forget to calculate capital gains taxes if you sell at a profit or any other taxes you may owe. You need to know your bottom line for debts before you sell.

Talk to a Lender About Your Home Selling Options

If you have a mortgage on your property, you’ll need to tell your lender you’re planning to sell and find out what options are available. For homeowners who are struggling to keep up with the mortgage, a short sale may be an option. Some lenders are willing to work with you on the sale price if you’re behind on your house payments.

Estimate the Value of Your Michigan Home

Before you settle on a price for your home, you’re going to need to know its value. You can have it appraised or talk to a real estate agent who can estimate the value based on other houses and properties in the area. When you know the value of the house, it will help you have a more reasonable list price.

Understand Upcoming Expenses

Selling a house is expensive. You have closing costs, real estate commission for the agents, and other expenses when the home is sold. You should plan your budget to know how you will cover these expenses or calculate them into the price of the home.

When you’re ready to sell, Hometown Development makes the process easy. We’ll provide a fair cash offer based on the current value of your Michigan home or property. We can close in as few as five days, so you can move on with your life. Get the cash you need to pay off debts. Contact us today for a no-obligation offer. 

One of the big challenges for people who get into real estate investment is how to avoid capital gains tax. If you have to pay this tax, it can take a chunk out of your profit. However, there is a way to legally avoid it to keep more money in your pocket.

What is Capital Gains Tax?

Capital gains tax is the tax you pay based on the difference between the amount you paid for the property and the amount you sell it for. Basically, it is a percentage of your profit. For instance, if you buy a house for $100,000 and sell it for $180,000, you will pay a capital gains tax on the $80,000.

This tax is a progressive tax, which means it has multiple rates based on the amount of profit. The rates increase the more you earn. So, with the example above, you could pay a 10 percent tax on the first $10,000, 12 percent on the next $20,000, and 20 percent on the rest.

The amount you’ll pay in capital gains taxes depends on your filing status and taxable income. It also varies based on how long you’ve owned the property. Short-term capital gains tax is charged for property owned less than a year while all property owned longer than a year is considered long-term capital gains, which is usually a lower percentage.

How to Reduce or Eliminate Capital Gains Tax on Investment Property?

There are a few options to help you avoid having to pay taxes if you own rental property and sell it. One option is the 1031 Real Estate Exchange. This allows you to sell one rental property and buy another one within a short time frame.

You can also offset those profits with any losses you’ve incurred in your investments. If you suffered a loss in other investments, the amount will be deducted from your profit with a rental property.

If you sell the property at a loss, you won’t need to pay a capital gains tax. You will need to calculate the deductions to determine the amount of loss.

Do you need to sell your rental property, but you’re worried about the hidden costs of capital gains? Talk to the team at Hometown Development about selling. We have decades of experience in real estate investments, and we can help you get the property off your hands without the hassle of capital gains taxes.

Maybe you’re at the point in your life where you don’t want to deal with home repairs, or you just have too much house for your needs. The kids have grown up and moved out; the space is too big to keep up with for just one or two people. Or perhaps you’re younger and want to start enjoying the simple life with less stuff. Downsizing can be the way to help you reach your goals.

Know What You Want

The first step in downsizing happens before you start doing anything. You must decide what you want for this next phase of your life. Do you dream of moving into a retirement community with fewer responsibilities? Maybe you want to buy a smaller house, a condo, or apartment. Whatever your plans, you need to have an idea of the cost involved. You could start by researching properties that meet your needs.

Selling Your Home

Your next step is to think about selling your current home. If you’ve lived here a long time, chances are pretty good that it needs some work. From updates to complete remodels, repairs to renovations, fixing up an older home could cost you in time and money.

If you see a lot of work involved before you can list your home, you might want to consider the convenience of selling to a cash buyer. Because they don’t have to deal with a lender, the home doesn’t need to meet any requirements. Cash buyers are also experienced in working with homes that need a lot of work, so yours isn’t going to scare them off – even if it intimidates you.

Know Your Bottom Line

Once you decide to sell, have an idea of how much you need from your current home to move on to a new place. You’ll also need to know when you want to close on the home, so you can pack and relocate. Cash buyers will work with you on your schedule, whether that is closing in a week or waiting a couple of months as you find your new place and get everything in order.

If you’re ready to downsize and live a simpler life, a fair cash offer could be the jump start you need for your new home and life. Get the cash you need to purchase a condo or smaller home with a no obligation quote from Hometown Development. Contact us today for a free cash offer within one business day. 

If you’re just starting out in investing or expanding your current portfolio, you may be considering turnkey real estate investments. Real estate in general has long been recognized as a good investment, but what about turnkey real estate?

Low Risk for Big Rewards

The appeal of turnkey real estate investments is the low risk. It’s what makes them attractive to people with all levels of investment experience. Since there’s a low initial investment, it doesn’t take a lot of money to get started. Once you sell, you can begin to put your profits back into the investment and increase your income.

It’s usually quite easy to improve the value of the real estate properties you buy. You can choose properties with little improvement needed or those that need a major renovation, depending on your comfort level and cash. Some basic knowledge of which improvements bring the most return is all you need to see profits when you sell.

The housing market is relatively stable, which means prices continue to go up. If you buy a property today, you can expect the value to increase with improvements.

Manage Risks

As with any investment, there is some risk in turnkey real estate investments. You can get a property that has more issues than what you bargained for or needs a lot of work to meet codes.

You can manage your level of risk my investing appropriately. Work with an experienced real estate investment company to ensure the money you put in provides a good return.

If you’re looking for safe investments to add to your portfolio, talk to the team at Hometown Development. We offer low risk turnkey investment opportunities to help you increase your income. Reach out to learn more at 616-379-3090. 

If you’re thinking of putting your home on the market, you may be considering the cost of hiring a real estate agent and decide to tackle the job yourself. You can save on those real estate commissions by selling your home on your own. Here is a guide of what to do and what not to do when you are ready to sell.

Do Find Out Your Home’s Value

The first step before you do anything is to find out what your home is worth. Knowing your home’s value can help you price it right, so it sells quickly. While a real estate agent can access information to know property values, you can also get the information you need. Check out homes that have sold in the past few months in your neighborhood or on your street. Look for those around the same size and age to get an idea of market value. Hometown Development can provide you a fair cash offer within one business day based on current values for your home.

Don’t Make a Mistake with Updates

If you live in an older home, you may be tempted to put some money and effort into upgrading your home. Updates can increase the selling price of the home, but they can also be an added expense. The wrong updates won’t increase the value, but it will reduce your bank account. Other updates will increase the value of your home, but it may not be as much as you’re expecting. With Hometown Development, you don’t have to worry about updates. We buy homes as-is.

Do Consider the Timeline

Statistics show that it takes longer to sell a home yourself. You don’t have the experience in selling properties and it can be difficult to get your home in front of the right buyers, especially if it isn’t in excellent shape. You may need to plan on spending a lot of your time on marketing your home with open houses, home tours, and promoting your property. Hometown Development can buy your home in as little as five days for cash.If you want to sell your home on your own and sell it fast, consider how a cash buyer can help you reach your goals. Hometown Development makes it easy to for homeowners who want to sell fast without real estate commissions or expensive upgrades. We’ll work with you and help you to get a fair price for your home. Contact us to get your no-obligation offer.

If you need to sell your home fast, it can be an overwhelming situation. You have so much to think about and very little time to get it done. It’s easy to overlook certain tasks, so here is a checklist to help you get moved.

Sell Your Home Fast for Cash

The first step in the process is getting your home sold. The quickest way to sell your home fast is to find a cash buyer. A cash buyer won’t have to go through the loan approval process and all the steps involved, such as a home inspection.

Hometown Development will work with you to get your home sold in as little as five days. We have cash in hand, we can help you move forward with your life.

Arrange a Moving Company

Once you know you’re ready to sell your home, you’ll need to hire a moving company to get all the personal items and furnishings out of the house. Some moving companies even pack personal belongings, such as dishes and clothing.

The right moving company can take a big task off your to-do list and leave you with time for other important tasks. You’ll want to research your options early to ensure you find the best moving company for the job.

Find Storage

If you don’t have a place to live yet, you’ll need to find storage for your furniture and personal items. Check around locally but be willing to drive a few miles away from your destination since storage units are at a premium.

If you’ll be living in a smaller place for a while, you may need long-term storage. Find out if storage companies offer a discount for paying a year in advance. It might be a worthwhile investment for the cash you receive from the sale.

Stop Utility Service and Get Address Changes

You’ll need to schedule your utility service to be stopped at the old address. Don’t forget to have your mail forwarded to your new location. Make sure the utility companies have your new address to send the final bill.

You’ll need to consider other companies and agencies that should have your new address. One of the most important is the DMV. Your employer will need your new address for tax forms. Don’t forget your bank for any statements or correspondence as well as credit card companies. You don’t want your private information being sent to an old address.

Do you need help to sell your home fast? Hometown Development is here to help. We’ve been helping homeowners just like you get their homes sold for cash, so they can move out and move on with life. To find out more, get a no-obligation cash offer when you contact us today.

Your home is older and outdated or needs a lot of repairs. You want to sell, but you don’t want to do a lot of work on it. You can wait until you get the right buyer, someone who appreciates the diamond beneath the work and has the time and money to put into it.

While such a buyer may be the dream, in reality they are hard to find. Most traditional buyers want a house that is move-in ready with no work required. Even in a seller’s market, some homes are difficult to sell.

Why Sell Quickly

Selling quickly will provide many benefits to you, the homeowner. First, you will save money with a quick sale. You won’t have to put money into repairs or updates. You also don’t continue paying utilities and maybe a mortgage if this is an old family home or rental property.

You’ll also save time with a quick sale. Instead of dealing with open houses, private tours, and all the work that goes into trying to sell a property. When you get your property sold fast, you can move on with your life.

How to Sell Quickly

Once you decide to sell quickly, how do you accomplish it? The best way to sell your Michigan home fast is with a professional cash buyer. A cash buyer can buy your home quickly with no hassle. You don’t have to wait for the right buyer to come along.

If you want to sell your house now, Hometown Development can help. Whether you’re trying to sell a family home, a rental property, or another house that you don’t want to deal with, we can help you close quickly. We can help you sell your home in as little as five days. Call our team today at 616-379-3090 for a cash offer with no obligation.