Quiz: Should You Consider Selling to a Cash Buyer?
By Ted Ricasa
Different homeowners have different needs and different priorities when it comes to selling their homes. To be certain, selling to a cash buyer is not the right choice for everyone. Some homeowners are well advised to hold onto their properties until the market shifts in their favor, while others may be best served by working with an experienced real estate agent. Then there are those who, after giving due consideration to their options, conclude that selling their homes for cash is precisely the right choice for them.
Ultimately, only you can decide which avenue is best suited to your case. The following quiz may not lead you to a definitive answer, but it will help you to better understand your needs and goals, as well as whether you should at least investigate the possibility of selling your home to a cash buyer further.
This quiz was created to be used in conjunction with our Cash Offer Worksheet. Together, these tools will provide you with some of the information you need to make an educated decision regarding the sale of your home.
1. Is your property ready to be sold?
- Is it ready to be staged for potential buyers?
- Are there any code violations that need to be addressed?
- Have you had your home inspected?
- Is your house clean, free from clutter, and as attractive to buyers as possible, inside and out?
2. Are you comfortable with handling the rehab yourself?
- Do you have any experience managing contractors?
- Do you have contractors you can trust?
- Can you afford the rehab costs?
- Do you know which elements of the home need to be repaired or replaced?
3. Do you want to work with a real estate agent?
- Do you have a real estate agent with whom you feel comfortable and whom you feel you can trust?
- Are you confident that your best interests will be served by a real estate agent?
- Are you willing to pay the real estate agent's fees?
- Do you have the time to meet with multiple real estate agents to evaluate their credentials and marketing plans?
4. Do you have the time?
- How long do homes remain on the market on average in your community?
- How long will it take to rehab and properly stage your home?
- When is the next "buying" season?
- How long can you afford to keep the home while you are seeking buyers?
5. Does it make financial sense?
- How much will the rehab cost?
- How much are the holding costs?
- How much will the various commissions be?
- How much will closing costs be?
There is, of course, no right or wrong answer to any of these questions. There are only your honest answers. Selling a home through traditional methods requires time, patience, and money, but could pay off in the end. However, once you add up the potential costs involved with selling your home with our Cash Offer Worksheet, you may be surprised at just how thin the profit margin could be even if you eventually receive more than market value for your home through conventional sales methods.
Again, you have to do what is right for you. Whatever that may be, please feel free to contact the professionals of Fast Home Help for answers to your questions.comments powered by Disqus