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Tag: Selling

How to Handle Selling A House and Buying In Another State

Posted on by Hometown Development

If you’re relocating to a different state, whether for work, family, or just a new start, you probably want to sell your home for at least two reasons:

 

  • To cover the costs of relocating, including buying another home and getting your life started somewhere new.
  • To avoid the costs and hassle of maintaining the old property, including property taxes and upkeep

The process of selling a house and buying another in a different state doesn’t have to be complicated, but it does depend on how you want the relocation to work. There are a few things you should know to handle the sale successfully.

What to Do When Selling a House and Buying Another in a Different State

Ideally, you would sell the old home the day you move and simply move into a new location, but it’s rarely that easy. Most likely, you’ll be faced with two realities: sell your home after you relocate, or sell it before.

Selling Your Home After Relocating

One option is to have a new home lined up, so when you sell the old home you can simply move and then sell the other one later. In this case, you would wait to sell the old home, and you risk having two homes at once, which could strain your finances in an already stressful time of change. Also, once you’ve begun your new life in a new state, you likely can’t or won’t want to commute back and forth to prepare the other home for sale, arrange showings, or negotiate offers for the old home.

Sell Your Home Before You Move

Another option is to sell the first home before you move, whether you’ve found your next home or not, and rent an apartment in your new location. This gives you time to learn the area you’re moving to, and you’ll have your finances in order when you find the right home for your next chapter. In either case, once you’re ready to sell your old home, you’ll likely want to take care of the sale quickly. You don’t want to wait months for your home to linger on the market, especially while it’s costing you money and patience to maintain.

How to Sell Quickly When Relocating

If you’re selling a house and buying another in a different state, you don’t have time to wait months to find a buyer for your old home and wait for a sale to go through — you want to sell your home ASAP. However, if the home needs fixing up or preparation before it’s ready to be listed on the market, you may not be able to do this before you need to move. Rather, you may find yourself commuting back and forth to fix up the old home before you can list it for sale. To avoid this, you can skip the preparations, repairs, and updates and sell your home as-is.

Selling Your Home As-Is

When selling your home as-is, you look for a buyer who will purchase the home in its current condition. There are a couple of ways you can successfully do this so that your home sells quickly: Price it competitively or sell to a real estate investor.

Price the Home Competitively

Pricing your home competitively shows buyers that you’re motivated to sell, so they’ll be more likely to make an offer. Although you might not be able to earn as much for the home as you could in a normal circumstance, a lower sale price will help the home sell quickly, which, if your goal is to get the extra home off your hands and move on, is a pretty good deal.

Sell to a Real Estate Investor

Selling your home to a real estate investor is another way to sell your home fast. Real estate investors prefer to close on home sales fast — often in as few as five days. Also, when you sell to an investor, you don’t need to make any repairs or changes to your home. You can sell your home in its current condition without the help of contractors, inspectors, or Realtors. A real estate investor will walk through the home with you, then offer you a fair price based on the home’s market value. In less than a week you can have your home sold and close that old chapter of your life, ready for whatever’s next. When you’re relocating, one of the best ways to set yourself up for success is to get that old home off your hands. Hometown Development can help you close in as few as 5 days, and we always make fair cash offers based on the market value of your home. Move on quickly and successfully! Give our team a call today for your no-obligation cash offer.

Selling the Family Home: How to Let Go of Your Family Home

Posted on by Hometown Development

The house where we grew up is important in our formative years and is the backdrop of many of our youthful memories. However, there comes a time when we have to say goodbye and part ways with these spaces. Selling the family home can be difficult, not only because of the emotional attachment to a home that’s been in your family for years, but also because preparing a home to sell on the traditional real estate market can be time-consuming, expensive, and frustrating — especially when you have other grown-up responsibilities and your own home to take care of. Fortunately, when it comes to selling the family home quickly and painlessly you have options. Let’s talk about how to make the process of selling the family home as easy as possible.

Pack Up the Family Home

When you first take ownership of the family home, whether you’ve inherited the property or taken it over from other family members, that first walk-through can be difficult. From getting distracted by memories to feeling overwhelmed by the work ahead, you likely need to prepare for an initial wave of emotion. This is an important time to reflect on what the home meant to you, and take an inventory of everything in the home. Work your way through the home and decide what can be sold or donated, or what you absolutely can’t part with. Go through the belongings with your siblings to make sure everyone is involved in these important decisions. Consider that even some extended family may have an interest in keeping some items, especially priceless ones like family photo albums or other keepsakes. Unclaimed furniture, clothing, kitchen supplies, or decór can be sold in an estate sale or donated to a local charity.

Selling the Family Home

Once you have gone through the home and divided up the important belongings, it’s time to start thinking about selling the family home. In these situations, it’s often better to sell the home quickly rather than hang onto it, because even the best childhood memories can be soured when you have to take care of property you no longer want. When it comes to selling the family home, you have a few options: You can either sell it on the traditional real estate market by working with a Realtor, or sell it in a quick cash sale to a real estate investor.

Sell on the Traditional Market

Before you can sell on the traditional real estate market you’ll need to assess the home’s condition, make any necessary repairs, consider upgrading parts of the home to make it more appealing, hire a realtor, and show the home to potential buyers. Traditional sales take time — especially for older homes that might need a bit of work, maintenance, or updating. If you want to sell the family home quickly, pricing it correctly is important. Understand that you can’t put a price on your memories. It’s special to you because of the people you shared the memories with, not the home itself. Even if you think the home deserves a high price, potential buyers won’t factor the good times you spent in the home into their decision. Pricing the home too high will make it more difficult to sell, and if you have to keep readjusting the price later, buyers may become more wary and your home will lose appeal. If you don’t want to deal with making repairs or maintaining the property during the selling process you may consider selling the home to a real estate investor.

Sell to a Real Estate Investor

When you sell to a real estate investor, you don’t have to wait through the long sales process. Real estate investors prefer to close on home sales with a cash offer in as few as five days. Investors will also purchase your inherited home in as-is condition, meaning you don’t need to worry about making repairs or updates to the home. They will walk through the home with you and make you a fair offer for its market value, no Realtors necessary. The advantage of selling the family home to a real estate investor is that they have the time and capital to give the home the care and repairs it needs. They can wait for the right family to move in to make new memories. Meanwhile, you can sell quickly for cash and move on.

Say Goodbye When Selling the Family Home

When selling the family home, it’s important to acknowledge the importance of the space to you and its place in your memories. On your final walkthrough, reminisce where you and your siblings opened presents during the holidays, the place in the kitchen where the family dog used to lie, where you would sit at the dinner table and tell stories over vegetables you didn’t want to eat, where you once backed into the garage door before you got your license — and remember that the characters of those stories are the key to the memories, not the setting. Rather than let an additional home become a stressful responsibility, sell the home and hang onto the memories you made there, instead. Realize that, although it may hold a special place in your heart, it’s not your house anymore — at least not in the same way. If you sell the home, another family can move in and enjoy the space. Parting with the property will be tough, but in the long run, it will save you time, money, and stress. If you’ve recently inherited a family home, and just aren’t sure what to do with it, the Hometown Development team can help. We’ll clearly explain all of your options so you can make the best choice for you, and your family. Give us a call or reach out online to learn more.

Can I Sell My House If I Have a Mortgage?

Posted on by Hometown Development

When you sell a house with a mortgage, the buyer’s funds should cover the rest of your loan, with a bit left over in profit for you. But, if your asking price is lower than what’s left on your mortgage, you may run into problems. Let’s take a look at what happens when you sell a house with a mortgage.

Selling a House With a Mortgage

Many homeowners sell their homes with a mortgage. It’s pretty common that homes are sold before the mortgage is completely paid off. The sale of the home should pay off the remainder of the mortgage and hopefully leave you with enough profit left over to make a down payment on your next home. As long as the real estate market has stayed fairly stable since you’ve purchased your home, and you’ve kept the property in good condition, it’s likely you’ll be able to sell the home, pay off the mortgage, and move on to a new home and a new mortgage without issue. If the mortgage is not paid in full by the sale of the home, the situation becomes more complex.

Will the Sale Price Cover the Mortgage?

To calculate how much money you’ll need to earn when you sell a house with a mortgage, start by asking your lender for the payoff amount. The payoff amount is the total sum you’ll need to fulfill the loan contract. Just using the remaining balance in your estimate won’t factor in the loan interest and other associated costs. Next, estimate your home’s value to get an idea of the price you could earn from selling. To do this, you might research similar homes for sale in your area, calculate the average price per square foot, and factor in the size of your lot and if you’ve recently completed any major upgrades to the home. If you want to skip a formal assessment, there are calculating tools online that can help you get an idea of your home’s value. The estimated sale price should be able to cover the payoff amount, any other fees for property taxes, realtor fees, and leave some money left over for you to move to a new home. If it comes up short, this could mean you owe more on your mortgage than your home is worth. When this happens, your home purchase loan is considered to be “underwater.” If you want to sell a house with a mortgage that’s underwater, a traditional sale may not be right for you. However, you still have options to sell your home.

Can I Sell a House with an Underwater Mortgage?

If the principal on your home loan is greater than your home’s value, you may find yourself trying to sell a house with an underwater mortgage. There are a number of factors that can affect your home’s value and make selling a house with a mortgage difficult. If your home needs significant repairs, or the home’s value dips due to other factors, the sale value might not match the value when you signed the mortgage. Fortunately, you can still sell a house with a mortgage that’s underwater. You can work with your lender to sell in a short sale, or sell to a real estate investor for a quick, cash offer.

Sell a House in a Short Sale

In a short sale, the lender agrees to accept less than the original loan terms. In some cases, they may be willing to waive the remainder of the loan. The short sale means the lender is more involved with the sale of the home. They must sign off on any offers before they can be accepted. The short sale process can be lengthy, and involves a lot of paperwork and waiting for bank approval. If you want to sell your home quickly, you might want to consider another option.

Sell a House With a Mortgage to a Real Estate Investor

When you sell your home to a real estate investor, they will make you an offer, in cash, based on the market value of your home. Real estate investors have worked with many homeowners who want to sell a house with a mortgage and can offer you a quick and effective solution for your mortgage problem. If you’re looking to sell your home quickly, they can close on the sale in as few as five days. Since they will purchase your home in its current condition, you won’t have to worry about making repairs or changes to your home. Also, you won’t need to hire a realtor. A real estate investor can work with you to resolve your debt and help you out of your home and on with your life. If you’re selling your home, but aren’t sure you can recoup enough to cover your mortgage, talk to the team at Hometown Development. We regularly work with homeowners just like you, and we can find a solution that’s right for your situation.

5 Tips to Selling Your Home Without a Realtor

Posted on by Hometown Development

If you don’t want to go through the process of working with a real estate agent, you can try selling your home without a realtor. The advantages of this option are that you won’t need to pay a Realtor’s fees or sell your home on their timeline. However, you may have to do more of the work by yourself, especially when it comes to marketing your sale, preparing your home for sale on the traditional real estate market, and finding a buyer without a Realtor’s connections. That being said, if you want to sell your home quickly without a Realtor, you have options. Here are 5 tips to help you sell your home without a Realtor.

Price Your Home Competitively

How motivated are you to sell? If you have time to spare you can sell your home close to its value, but a lower price might help sell your home more quickly. Pricing your home competitively will draw more buyers to your home. Once they’re in the door, you can sell them on all the advantages your property has to offer.

When it comes to choosing the best market price for your home, you should base the number on a few factors. First, consider your home’s condition. Is it in need of any repairs the buyer will have to take care of upon moving in? Buyers might shy away from a house that’s a project, unless the cost of the upkeep is reflected in the sale price. 

You should also consider the value of homes similar to yours in your area. Have there been other sales in your neighborhood in the past few years? Take a look at the asking prices of those homes and compare them with what they actually received in the final offer. It could help you decide on a competitive price when you’re selling your home without a Realtor.

Lastly, you should factor in the current temperature of the housing market in your area. Are homes selling quickly, or are sellers waiting around for months for potential buyers to bite? If the market is cold, you might need to consider a competitive price to draw buyers to your home.

Stage and Market Your Home for Sale

Before listing your home by yourself, you might consider staging it for showings, promotional photos, and marketing materials. To stage your home, you’ll want to use neutral furnishings, take down any family portraits, and clean up and stow anything that could be considered clutter. The goal is to help potential buyers see themselves in the space, to help them imagine their life in your home, so you want to avoid furnishings or decorations that are too “you.”

With your home staged and photos taken, it’s time to list on popular home sale sites like Zillow, Trulia, Realtor.com, and even Craigslist. When selling your home without a Realtor, you won’t be able to rely on a real estate agency’s connections, so it’s up to you to put the word out about your home for sale.

Host an Open House 

When selling your home without a Realtor, it’s up to you to show your home to potential buyers. A great way to get people in the doors is to host your own open house. Before an open house, you’ll want to make sure your home is clean and ready for visitors. This includes sprucing up the landscaping, making any necessary repairs, maybe even baking a tray of cookies to get the place looking and smelling great. 

Schedule your open house in advance, and be sure to spread the word before the event takes place. If no one makes an offer right away, don’t be discouraged. Another goal of an open house is to show off your home to people who might tell others about your sale.

Be Prepared to Negotiate with Potential Buyers 

Of the 5 tips to sell your home, being prepared to negotiate is crucial. Hopefully, after having your home listed for a short time, you’ll receive a good offer or two for your home. In a perfect world, a buyer would offer to pay the asking price for your home, but in most cases the offer will be low. It’s up to you whether you want to accept or counter, but you should be prepared to have a fair negotiation with any potential buyers. During negotiation, it’s important to be flexible to the buyer’s concerns and demands, especially if you are motivated to sell.

When accepting a buyer’s offer, you’ll need to be willing to work with their financing options, which could involve a waiting period while their lender approves a loan. Make sure the selling agreement is laid out in clear language. You might consider hiring an attorney to make sure everything is as agreed before the sale is closed.

Sell As-Is for Cash with a Quick, Hassle-Free Sale 

If you want to avoid the hassle of preparing your home for sale, staging and hosting an open house, or negotiating with buyers, you might consider selling your home as-is for a quick cash sale. In an as-is sale, a real estate investor will walk through your home with you and offer you a fair price based on its value. The advantages of this are that you can sell your home fast for an immediate payment, without having to make any repairs, changes, or updates to your home or property. You can take care of selling your home without a realtor and have the process finished in as few as five days. 

Whether you want to list your home for sale by owner, or sell quickly and simply in an as-is for cash sale, there’s no need to work with a real estate agent. It’s possible to have a stress-free experience when selling your home without a Realtor. 

Do these 5 tips to sell your home have you ready to sell your home, but not interested in hiring a realtor? Hometown Development would be happy to help you sell quickly, and without the hassle. We offer fair cash offers based on the market value of your home. To learn more about our free cash offer, reach out to us.

Behind on Mortgage Payments? Here’s What You Can Do

Posted on by Hometown Development

I’m behind on mortgage payments. What can I do?

Getting behind on mortgage payments can be a slippery slope, and the longer you ignore the problem, the more dangerous it becomes. It can feel like you’re running out of options, treading water until a life-preserver is thrown out to you. Ultimately, you want to avoid foreclosure and losing your home, as this will put you in a difficult financial situation that it is very hard to recover from. Don’t lose hope, as you have options when it comes to catching up with your payments or getting rid of your mortgage altogether.

Make a Plan

First, you need to accept where you are and understand the importance of your next steps. Taking action early can save you a lot of headaches down the line, and leave you in better financial shape for the rest of your life. 

Second, take ownership of your financial decisions. You are in control, and what you decide will impact your future. Read through your lending agreement so you know the terms and the rights available to you as a homeowner. Make a plan that is realistic for paying your debts.

Finally, ask for help if you need it. Know that there are resources out there to help you and others like you get back on your feet. You are not the first person to struggle with a cumbersome mortgage, nor the last. There are people who specialize in this exact situation who are prepared to lend a hand and assist you in dealing with your debts and continue to move forward.

 

If you’re behind on mortgage payments, there are things you can do to help yourself. Let’s explore some of your options.

Catch up on Mortgage Payments

The quickest way to fix this problem is to catch up on payments by paying them outright in a lump sum. This will bring you up to current payments and you can go back to paying normal amounts next month. To acquire funds for this lump sum, you may consider selling assets like non-sentimental valuables or antiques. Look around your home for ways you can downsize and get rid of possessions you don’t need, like an extra television set or expensive camping gear. Every little bit you can sell will help you get closer to your goals.

Talk to Your Mortgage Lender

Another action that could help you if you’re behind on mortgage payments is to speak with your lender about possible solutions. They may be open to arranging a new repayment plan or adjusting the terms of your mortgage to help you meet more achievable monthly payments. Let’s look at a few options you can bring up with your mortgage lender.

Forbearance

Forbearance means your lender would temporarily postpone or reduce payments until you can agree on a repayment schedule. Agreeing to forbearance means your lender will not pursue foreclosure, which will give you peace of mind as you work on a plan that benefits both parties. Keep in mind that when your repayment is due, you will need to pay back all of the missed payments to bring your account current.

Reduction of the Mortgage Principal

Your lender might be open to reducing the amount you owe, or the principal of your loan. The lender might agree to this if they could recover more money through a lowered principal than they would in a foreclosure, especially if you owe more than what your home is worth.

Mortgage Refinance

Refinancing your loan means you make a completely new loan agreement with new payment amounts, interest rates, and payment schedule. It may lower your monthly payments, which could help you keep up with the schedule. You must be up to date on payments to refinance your loan or you will still need to settle the other mortgage, but it could help prevent you from falling behind on mortgage payments by making them more manageable in the future.

Selling Your Home to Pay Off the Mortgage

If you’re falling behind on mortgage payments, it can feel overwhelming when the debt stacks up month after month. If you want to get rid of your mortgage payments altogether, you may consider selling your home to pay off your debt. There are a few different ways to do this. You can sell your home in a short sale, with the help of a realtor, or sell it as-is for a quick sale.

Sell Your Home in a Short Sale 

A short sale is when you sell your home for less than you owe. You can avoid foreclosure with a short sale, but you basically start from scratch. It might be an option if you’re desperate to get out from under your debts. You have to discuss it with your lender before you can sell your home in a short sale.

Sell Your Home With a Realtor

If you choose to sell your home with a realtor, you will work with their office to prepare your home for sale. It could take months before it’s ready to be put on the market, and months more before an offer is received. Although you might be able to sell your home for a higher price with a realtor’s skilled help, their commission will slightly lower your profits — and the amount you can pay back on the mortgage. Plus, the time it takes to sell your home this way puts your further behind on mortgage payments, leaving you with a bigger debt to settle at the end of the process.

Sell Your Home As-Is for Cash.

In an as-is home sale, professional real-estate investors will give you a fair price for your home’s value. You don’t have to worry about making repairs or working with a realtor. Most importantly, you can be paid for your home sale right away. You can have your debts paid in as little as five days and move on to the next chapter of your life.

Get Some Help

If you still have questions about catching up with mortgage payments, go to a government agency like Housing and Urban Development. They have housing counselors available to guide you through the process of catching up with missed mortgage payments. Counselors can give you real answers about what to expect if you aren’t able to pay your debts as well as practical solutions to avoiding foreclosure and bankruptcy. Their advice is free, so it never hurts to ask.

You’ve already made a great first step by looking for a solution before you’re underwater. You’ve taken control of the process and are well on your way to forming a clear plan that will lead you out of mortgage debt.

Here at Hometown Development, we know it can be tough to feel like you’ll never catch up. Our team is here to help. If you’re behind on mortgage payments, we can offer you a fair cash offer for the market value of your home to help you get out from under that cumbersome mortgage. Call our office at 616-379-3090 or contact us online to learn more.

How Long Does an As-Is Home Sale Take?

Posted on by Hometown Development

If you want to sell a home quickly for whatever reason, be it divorce, death of a family member, or foreclosure, you may have heard that selling for cash, as-is is the fastest way to do that. But just how soon can you expect to be out of your house, money in hand, and onto the next thing? How long does an as-is home sale take?

How Long Does a Traditional Home Sale Take?

Before we tell you what you really want to know, first, some context. You’re really going to appreciate what you read next about how long it takes to sell a home as-is once you know what the alternative is. And it isn’t pretty. According to Zillow, most homes stayed on the market for an average of 68 days. So, just over two months. If you need cash now, that’s not great, but that figure is even more concerning when you figure in a couple of things: that is the average, meaning that some homes were on the market for much, much longer than 68 days and that “on the market” means just that, listed for sale. 

 

Some of these homes were on the market but were taken off, even though they didn’t sell. The sellers might have changed their minds about selling, or simply have gotten discouraged and given up. After a few months or even years of waiting for a home to sell, the buyers may have even decided to sell as-is.

How Long Does an As-Is Home Sale Take?

You can sell a home as-is in as little as five days. That’s right, five days. What’s the difference between that and a traditional sale? Just over two months. 

 

While obviously every case is slightly different, selling as-is really can happen quickly in the span of just a week or two, as opposed to months. This is because the lengthy process of listing the home, doing showings, considering offers, and inspections is virtually cut out of the equation. 

 

When you sell-as is, generally speaking, the buyer will appraise and inspect the house themselves or through an agent, and use that information to make an offer. The middlemen of realtors are cut out, and there’s no long approval process for the buyer to get financing for a mortgage. 

 

If you are hoping to sell your home quickly, as-is or for cash, consider talking to the team at Hometown Development. A local real estate investment firm, we purchase properties in cash, and we can help you close in as little as 5 days. For more information about our process, give us a call at 616-379-3090 or contact us online today.

Can I Sell A House that Needs Repairs?

Posted on by Hometown Development

It’s a tough situation: you need to sell your house, but it’s not in good shape. Maybe you haven’t been able to keep up on repairs since you’ve gotten older, or maybe you simply don’t have the money to fix the problems that have been cropping up. But you know that no one wants to buy a new home with problems… right? If you’ve been asking “Can I sell a house that needs repairs?” here are your options.

Repair the Home 

If your home needs repairs and you want to sell your home in the traditional way, through a realtor, you may choose to make those repairs. Depending on the cost and extent of the repairs, you may be able to do this yourself or have to hire a contractor. Replacing an old water heater or countertops might not be too big of a repair to have done yourself before a sale, but replacing the whole roof might be another story.

 

While traditional sale of your home might result in the greatest price for your home, doing the necessary repairs can have some downsides. If the repairs are extensive, you may be out a lot of money, which you may or may not recoup in the sale. Also, these repairs can take a lot of time, which you may not have to wait.

Sell the House As-Is

Selling a home as-is is exactly what it sounds like: you sell the home in the condition it’s in, regardless of any issues or repairs needed. While you might not get the same price you would if your house was in perfect condition, you don’t have to worry about the expense and time of making repairs yourself. If you need to get out of your house ASAP, for instance, in a foreclosure or divorce, you may not have the time or funds to complete a repair.

 

Selling as-is means that the buyer accepts whatever issues the home has and will pay for the repairs themselves. If this buyer is a real estate investor or house flipper, they likely have the resources to complete these repairs for less than it would cost an average homeowner, meaning that they might even pay more for your house than you would have gotten in a traditional sale, after you subtract your expenses for the repairs. 

 

Plus, selling as-is expedites the sale process. Since the buyer is accepting that there are issues with the house, there aren’t the same kinds of inspections and evaluations that happen with a traditional sale. Additionally, these buyers are motivated to close sales quickly, so that they can flip the house and start making money themselves.

 

Hometown Development purchases properties in any condition. It doesn’t matter what repairs your home needs if you’re looking to move on, we can help you. Contact us today online, or by phone at 616-379-3090, for more information about your cash offer. 

I Need to Sell My Home Fast — What Are My Options?

Posted on by Hometown Development

There are many reasons you may want to sell your house quickly. Whether you’re facing foreclosure, getting divorced, are moving for work, or simply need money, selling your home as fast as possible is crucial. But selling quickly can be hard to do. If you need to sell your home fast, here are your options.

Traditional Sale Isn’t the Best Option

It might have been a while since you bought your home, but if you think back to that process, you’ll remember that it wasn’t a quick one. The traditional sales process for homes moves at a glacial pace. First, you need to find a realtor, who lists your home for sale. Then your house could sit on the market for months—even years—before someone is interested enough to make an offer. Plus, once an offer is made on the house that you accept, there’s still a lengthy process of inspections and permits and signing documents before closing.  

 

Additionally, another component of a traditional sale is making the home as appealing to potential buyers as possible so that you can get the best price for it. This can often include making updates and upgrades from minor things like buying new appliances and cosmetic changes like a new coat of paint to more extensive renovations. Those changes take time and money, for little to no guarantee of success in selling the home or fetching a high price.

Sell As-Is

As we mentioned in the last section, sometimes homeowners will make changes and renovations to their homes in order to make them more saleable. But, this takes money and time, and you don’t want to spend either when you’re looking to sell quickly. Selling the home as-is is a way to avoid the delay and hassle of updates and remodeling.

 

This also cuts down on the negotiation side of selling a home, which itself can lengthen the process. If it’s clear that you’re selling the home as-is, you won’t have to bicker with buyers who will only give you your asking price if you replace all the appliances or put in a new water heater.

Sell for Cash

The whole process of getting approved for a mortgage is another lengthy part of the traditional sale cycle that you can and should avoid if you need to sell your house right now, today, ASAP. Selling for cash is the way to do this. No financing approvals that take weeks and months, no hassle in getting your money right away.

Sell to Real Estate Investors

If you sell to real estate investors, instead of a traditional sale to future resident homeowners, you’re going to shave a lot of time off the home sale process. This is in part because investors have the capital and resources to enable the options we mentioned previously: buying for cash and buying as is. Plus, real estate investors and developers also are motivated to speed up the sale process. The sooner the purchase is completed, the sooner they can start making money off the home and property.

 

If you’re moving out of town, facing foreclosure, or simply just need to sell your home quickly, the team at Hometown Development can help. We purchase properties in any condition, for cash, which means we can close in as little as 5 days. For more information, or to start the process of selling your home fast, give us a call at 616-379-3090 or contact us online today. 

Step-By-Step Guide to Selling Your Home for Cash

Posted on by Hometown Development

If you’re considering selling your home for cash, you might be wondering what to expect. While there are a lot of resources out there for hiring a realtor and selling a home traditionally, there doesn’t seem to be quite as much information about selling a home for cash. 

It’s important to know that selling your home for cash is a legitimate option that makes a lot of sense for many homeowners. If you’ve recently inherited a home, are in danger of foreclosure, or are just looking for a hassle-free way to sell that can help you move on quickly, a cash sale is a great option. 

But what exactly does a cash home sale look like, and what can you expect when you sell your house for cash?

We’ve put together this complete step-by-step guide to selling your home for cash to answer those questions for you. Here’s what you can expect from the cash sale process:

 

Step 1: Putting Your Home Up For Sale

Since you’re not using a realtor, you might wonder how you announce that your home is for sale. You’re probably also wondering what you have to do to get the home ready for buyers to look at. 

First, know that most cash home sales are done “as-is”. That means that the buyer is agreeing to purchase the home exactly as it is, with no repairs, clean up, or maintenance done on your part. 

Second, there are two ways you can put your home up for sale:

List it Yourself

If you’re looking to sell your home for cash, without a realtor, you can list your home yourself on popular real estate sites like Trulia and Zillow. You might also consider putting up for sale signs in your yard, around your community, and even taking ads out in Craigslist, local newspapers, etc. If you go this route, make sure that you’re taking high-quality photos of your home in plenty of natural light, and that you write a catchy description of your home. People love information, so the more you give them, and the better your photos, the more interest you’re likely to see. 

Contact a Local Real Estate Investor

If you’re hoping to sell your home quickly, and for cash, it’s probably best to contact a local real estate investment company directly. There are a lot of companies out there making cash offers for homes, though, so it’s important to do a little research about those real estate investors before you reach out. More about choosing the right buyer next:

 

Step 2: Finding A Buyer You Trust

If you’ve listed your home online for an attractive price, you’re probably going to see a lot of interest from real estate investors and homeowners or “flippers” interested in your property. All of that interest is great, but you want to make sure you’re choosing a buyer you can trust to deliver on the cash offer they’re making. 

This is why we typically advise homeowners to go with a local real estate investment company that has a history and a great reputation in your community. 

There are plenty of people out there who aren’t doing legitimate business, and some of the bigger national real estate investment companies don’t have actual agents on the ground to offer a quality assessment of your home. By choosing a local real estate investment company, you’ll be working with a team who knows your area well, and who has both your interests and the interests of your community at heart. 

 

Step 3: Home Visit

If you’ve had a lot of buyers interested in your home, you’ll likely have a number of home visits. This is an opportunity for the buyers to assess your home, but it’s also an opportunity for you to assess the buyers. 

Pay close attention, because this home visit can tell you a lot about the company or the people you’re considering selling to. You want the representatives who visit your home to be respectful and professional. If they’re not, you might consider another prospective buyer.

It’s also good to know that you don’t need to do much in preparation for your home visit. You might consider tidying up a little if you’re living in the home, but you don’t need to make repairs or add on a fresh coat of paint. The benefit of making a cash sale is that it’s minimal hassle for you.

 

Step 4: Receive an Offer

Once your prospective buyers have had a chance to look at your home, they’ll make an offer. If you’re working with a quality home buyer, they’ll make an offer based on the fair market value of your home. If you’re not sure about the offer you’ve been given, ask the buyer about it. 

Any buyer that you can trust will talk about the size of your house, its features (how many bedrooms and bathrooms, one vs. two-car garage, etc.) and its condition in comparison with other similar properties in your area. If you’re feeling uncomfortable with how your prospective buyer answers the question, don’t be afraid to do a little research yourself. Is their company legitimate? Do they have any reviews or testimonials online?

 

Step 5: Close

With an offer in hand, all you have to do is accept, and the closing process can begin. This is another key benefit of selling your home for cash — the closing process can be completed in as little as 5 days. 

While your actual time to close is dependent on your unique situation, closing a cash sale is always faster than a sale where lenders are involved. And if you’re selling the home as-is, you don’t have to wait for inspections, inspection reports, or any repairs. You simply accept the best offer and close. 

 

Step 6: Move On!

Now that your home cash sale has closed, you’re free to move on. 

How quickly you move on is between you and your buyer, but typically cash buyers are very flexible. Here at Hometown Development, we often work with homeowners to help them move on as quickly as possible. That means we don’t require you to spend a lot of time cleaning or fixing anything up — simply take what you want, and leave the rest!

We hope this step-by-step guide helps take some of the anxiety out of selling your home for cash. While it’s not talked about as often as a traditional sale with a realtor, selling your home for cash has a lot of benefits for homeowners, and is a legitimate way to move on from a home, especially if you don’t have the time, money, or interest in making a lot of repairs or going through the traditional open house and showing process. 

If selling your home for cash is the best option for you, Hometown Development can help. We offer a quick closing process — as little as five days — and we offer cash for West Michigan homes in any condition. Give us a call at 616-379-3090 or contact us online today.

What to Know About Selling A Home As-Is

Posted on by Hometown Development

Whether you’ve inherited a home, have a home that needs substantial repairs, or are just hoping to unload a lemon, an as-is sale is perhaps the most hassle-free selling option for Michigan homeowners. If you were hoping to sell your house quickly, without making renovations or repairs, here’s everything you need to know about an as-is house sale:

What is an As-Is Sale?

An as-is sale is almost exactly what it sounds like. You sell your house just as it is. This means no repairs, no cleaning up for showings, and no hassle. For most people, an as-is sale also means you don’t need to hire a realtor, which can save a lot of money.

What Should I Know About Selling My Home As-Is?

If you haven’t sold a home in a while, or if this is your first time selling a home as-is, there are a couple of things to keep in mind:

Set a Fair Price

You’re selling your home, warts and all. With that in mind, you need to price your home fairly if you want it to go quickly. While other similar sized homes in your neighborhood may have sold for more money, that doesn’t mean you can expect the same for your home in an as-is state. If you price your home, given its as-is state, you’re likely to see a quick sale and a fair cash offer that will save you time, repairs, and hassle in the long run.

Be Honest

Just because you’re selling your house as-is doesn’t mean you can leave out important information. If there are defects about your home you know of, the law requires you disclose that information to the seller. Major issues like structural problems, cracks in foundation, mold, termite damage, a leaky roof, high radon levels, plumbing or electrical problems, or any outstanding legal issues must be disclosed to potential home buyers.

It’s good to remember that in most cases, this won’t affect your ability to sell the home. As-is house buyers are expecting some levels of necessary repairs, and most professionals see these types of issues regularly. While it may be tempting to downplay some of the house’s faults, it will lead to more trouble in the future if you fail to disclose the information.

Be Flexible

To move your home quickly, it pays to be flexible. Buyers will want to have a look around and will try to negotiate a price with you. To sell your house  quickly, you’ll have to be flexible with some of those offers. While you certainly shouldn’t take the lowest offer, make sure you’re open to those who are making reasonable offers. By selling as-is, you won’t get a top-of-the-market price, but you can get a fair, cash offer that puts all of the proceeds in your pocket.

Benefits of an As-Is House or Property Sale

An as-is sale isn’t right for everyone, but it does have benefits for those who want to move on quickly, or who don’t have the money and time to make major repairs. Here are a few benefits of an as-is sale:

Move on Quickly

As-is sales can close exceptionally fast when the home is priced fairly. If you need to move out-of-state or are in danger of foreclosure, an as-is sale can be a lifesaver. Since most as-is house buyers are real estate investors, they make cash offers, which means you don’t have to go through a lengthy closing process, and can actually be out of your home, cash in hand, in as little as 5 days.

No Repairs

An as-is sale is exactly what it sounds like. You’re selling your house as-is. That means that issues that would scare off a traditional buyer, like cracks in the foundation or a leaky roof, aren’t a problem. You don’t have to worry about shelling out money in advance for repairs on a home you’re selling. Simply list your home in the condition it’s in, and the buyer will deal with any necessary repairs.

No Cleaning

If you’ve inherited a house or need to move on quickly, an as-is sale is helpful since you don’t have to clean. As-is buyers often function on a “take what you want, leave what you don’t” policy that makes it easy to move on. Don’t worry about cleaning out that musty attic or clearing up the clutter in the garage. Just move on whenever suits you.

Fast Cash In Hand

The final, and perhaps most obvious benefit of an as-is sale is that you walk away from your unwanted house with cash in hand. You don’t have to wait for a lender to appraise or inspect the home, you simply make a deal with your buyer, transfer the title, and you can receive your money in as little as 5 days. This gives you the capital you need to move on safely and quickly.

It’s good to know that a traditional retail home sale isn’t your only option. If you just don’t have the time or money to make repairs and clean up an older home, an as-is sale can be a quick, helpful way to move on.

Licensed Contractor

Licensed Builder
Licensed Real Estate Agent

All closings performed by Bell Title
Meghan Vandenhout 616-942-8955

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Call today at 616-379-3099 to get started!

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