Need to sell your house fast in Minneapolis St Paul? In this post, we will give you some insight into what the pros do when its time to sell a house they no longer want. Keep reading to learn five secrets investors use to sell a house fast in Minneapolis St Paul!
Do you need to sell a house fast in Minneapolis St Paul MN? Listing it with a local real estate agent can take months to get the job done with no guarantees. In some cases, the house may not sell at all after all the effort. You won’t find many professional real estate investors who hire agents to help them sell fast. Investors know that in order to sell a house fast in Minneapolis St Paul, different strategies need to be implemented. Most of these are straight forward but seems secret from most average folks. Below, we offer a few tips to help you sell your house fast in Minneapolis St Paul no matter the condition, even as is, situation, or location!
Price Your House To Sell
If you need to sell your house fast and you are using the traditional methods, you’ll need to make sure it is priced accordingly. When someone is selling their own home, they normally think it is worth more than it actually is. Investors go by the numbers because the numbers don’t lie. One of the first things you will need to come to grips with when wanting to sell you place fast is that the market sets your price. This is called the acutal value of your home. In most homeowners eyes the preceived value of there home is higher than the true value. For example: All the houses around yours are just like yours and selling for $250,000. But as a home owner we see ours as better and say its value is $26,000 for some reason we think of ours as better. So right there you are at a disadvantage to sell it at all. Now keeping this all in mind and you want to sell fast, you will need to make an advantage to yours over all the other houses up and down your block for sale. To do that you will need to list your below the market value of the other properties. What does that mean for pricing? Its not not value of $260,000 or the market value of $250,000 but to sell it fast you be to be below. $240,000. You’ll likely need to price it lower than the actual value in order to get offers in the door right away. You’ll need to price your house to sell if you are working with a Minneapolis St Paul real estate agent and you want to sell your house fast.
Keep in mind that working with an agent to list your house on the MLS in Minneapolis St Paul will cost you in commissions averaging 6%, repairs, holding costs, and possibly additional marketing costs if you are trying to sell your house quickly. Here is a run down on the expenses on house we talked about;
$240,000 House for sale with an agent
- 6% commission $14,4000
- average 4 month holding cost: insurance, mortgage payments, utilities, $6,500
- additional marketing cost $1000
- repairs and painting the interior $5000
This is just a short list, but it ads up to $26,500 to just sell your house fast, we didn’t even bring up anything about closing cost that if a buyer asked for seller paid closing cost can add an addition 3% onto the expense.
Listing with an agent can take a while and isn’t always ideal for those who need to move fast or sell their house right away.
Sell Your House To An Investor
When an investor needs to sell a property quickly, the first place they will look is to other investors who may be interested in buying the house as is. Other investors will understand the need for a quick closing and be able to help make the process go quickly and easily. At Minnesota Cash Home Buyers, we know exactly what it’s like to need to sell a house fast. Selling your Minneapolis St Paul house to Minnesota Cash Home Buyers will very likely be the easiest and most convenient way for you to sell.
Use Owner Financing To Sell Your House
Utilizing owner financing opens up your house to a whole new audience of home buyers. People who may not qualify for a traditional loan on paper, (but who are more than capable of buying,) will now have a shot at buying your home. If you don’t need the entire sale price upfront, this can be a great way to create a guaranteed income for the next couple of years until the house is purchased from you outright. When selling your home using owner financing to sell your house fast in Minneapolis St Paul, make sure you have the proper agreements in place and that you secure a down payment from your buyer. It may not be the most conventional way to sell a house, but it can help you find a buyer much faster.
Sink Some Money Into Your House
If you really want to sell a house fast, and would rather list than sell directly to Minnesota Cash Home Buyers, you may need to sink some money into the property before selling. Adding some new features to make the property more competitive with others on the market is a great way to sell it fast. You should keep in mind, that you could end up spending a fortune getting the house ready to sell fast, but never find the right buyer. There aren’t any guarantees when you sell your house fast.
Advanced Marketing For Your Property
Today, marketing goes much further than a few pictures for your MLS listing. Today, people are utilizing virtual tours, massive online marketing campaigns, and incredibly unique open houses. You can hire a drone company to get some unique shots of your home. You can hire a professional staging company to make the house appeal to more of your potential buyers. There are a number of things you can do to bring attention to your property. You just have to be ok with spending the extra cash up front. This can be a bit of a gamble as you still may not find the buyer you are after.
While using some of the techniques above can help you sell fast in Minneapolis St Paul, they can come at a cost. For a hassle-free sale of your house as-is, a direct sale will likely be your best option! We can save you both time and money, all while removing the hassles home sellers often face when selling the traditional way. We would love to buy your house outright and we will answer all of the questions you have about the selling process. Before you hire a Minneapolis St Paul real estate agent, reach out to us to find out what we can offer you!