Now is the time to sell your unwanted house in Minneapolis St Paul to take advantage of the low-interest rates!
They are historically low here in Minnesota , and we may not see them this low again in our lifetime.
If you really want to sell your unwanted property fast, you will need to find out what is an appropriate asking price. Some of us get overwhelmed, thinking that we are can not figure this out or that real estate agents have some secret; they are not telling us to determine value. It’s not that hard. Spend some time and research the recent comparable sales that have happened around your property. For the most accurate amount, consider houses that have sold in the past 90 days within 1/4 mile of your property. Make sure to analyze all aspects of the property that it is very similar to yours: whether it is on a lake or stream, on a corner lot compared to an inner lot within a block, any powerlines nearby, the year the property was built. Consider also the proximity to shopping plazas, grocery stores, or other points of interest in the local neighborhood. Determine the appropriate asking price by using the most recent sales possible. If there are no recent comps that meet the consideration of your location, consider using other properties in the area and subtracting or adding value based on features that your property does or does not have. For example: if a comp house does not have a garage and yours has a double stall garage, subtract $15,000 from the value. Or if your house is in Frogtown area of St Paul in a couple of blocks off of either I 94 and the comp is right next to those interstates deduct an amount because the value will drop because of the traffic noise. If If you offer the property for sale too far below the market price, then buyers might believe there is something wrong with the property. If you provide it to high, no one will ever even look at it.
Sell to a Home Buyer
If you are thinking that you really want to sell your house in Minneapolis St Paul fast, consider selling to a professional home buyer might be the option for you. They can usually provide an all-cash offer with a swift closing time frame and may or may not require an inspection first. Going the regular route of selling threw an agent can take up to 6 months to sell while a professional home buyer can go from sitting at your dining room table figuring out what works for you to the closing table in under 30days. Some, if everything goes right, can close within seven days. The 7days closing most of the time are helping people going threw the final days of foreclosure where if they don’t redeem their property, they lose it. The home buyer will usually have an extensive network of real estate investors with multiple portfolio types and can easily add your property to it. You can use this quick cash to have your down payment for your next property to take advantage of the low-interest rates.
Some home buyers like us here at Minnesota Cash Home Buyers, purchase homes like yours, and if they need some work or repairs, rehab them to like-new condition and sell them to new families to enjoy. It makes many of our clients happy knowing that their unwanted homes will be recycled to another family. We have helped people sell their unwanted Minneapolis St Paul home and help them find a new home that fits their needs better with a lower interest rate mortgage.
Offer Owner Financing
Many future buyers are looking for a lending alternative who may not have the best financial history on paper, but are honestly trying to improve their situation. With you offering owner financing might be a great option to open up your house to more local buyers. Just make sure to do a background, and reference check just like a bank would do. Owner financing will also be a great option if you are looking for long term monthly payments. When you come to an agreement to do owner financing on your house you are selling, make sure to get a sizable down payment. You might ask what is sizable; it all depends on your thoughts that they will be able to pay back the loan to you. If someone has not had a great history in paying back loans, you may want to get a 20% downpayment. So, if they default on the loan, at least you are getting something out of it, along with getting the house back. Also, a nice side benefit for you is that you can charge above-market interest often for owner financing. So, you will have a nice amount in downpayment that can go towards your new home. Along with ongoing higher interest coming in every month compared to the new loan with low interest on the house you are going to buy. This would be a great option, now let go find a new home.
Find a Property
It is essential to research Minneapolis St Paul market and find out what you are wanting or what area of the city you want to live in, before jumping into something to take advantage of the low-interest rates. Check out the schools for your school-age children, entertainment you enjoy, access to shopping, and a good grocery store. When you have found some property, check with the Hennepin or Ramsey counties to see that the property taxes are paid. It’s even a good idea to research within the city of Minneapolis St Paul zoning department that there isn’t anything strange going on with the property. We have recently found a house that had a garage built 50 years ago that part of it is actually in the right away of an ally. If the property you are interested in is a condo or townhouse, verify what the property owners association is, and what this will cost you over time and eat into your budget. Make sure you conduct a thorough home inspection of the house you are interested in, many low-interest lenders will require this anyway. The home inspection will call out any issues with the home you are interested in. You want to make sure you pick a house with a good solid structure, a comfortable floor plan that flows, and some curb appeal. finally, when you walk around the house, does it just feel good, like its home
Find a Mortgage
The Minnesota mortgage rates are at a low point right now, we don’t know what the future will make of it, so take advantage of this opportunity! Lower interest rates mean the lenders are more willing to originate loans. Shop around different mortgage companies to find the best rate you can get with your financial situation. You can go to a large bank like US Bank, Wells Fargo, or TCF or the local one. The second choice some people really like is a local credit union. You have to below to a credit union to get a loan from them, but at times they have better rates, that the other banks can not compete with. Then there are the independent lending companies. Keep your credit score in mind, and contact multiple lenders to see what they can do for you. Ask from each of them a copy of the closing rates that are going to charge you at the closing of your loan. Choose the Bank, credit union, or lender that has the lowest interest rate. This, along with the length of payment you want to make and type of loan that works for you and the property you plan on purchasing. Having a pre-approved letter in hand will give you the advantage when making an offer on your new house.
Call Minnesota Cash Home Buyers today at (612) 444-5088 or send us a message to discuss selling your unwanted house in Minneapolis St Paul to take advantage of the low-interest rates!
We at Minnesota Cash Home Buyers have helped good people sell their unwanted Minneapolis St Paul and find a new one at a lower interest rate. We are unique in our whole approach to the real estate market here in Minnesota . To start with, we can buy a home directly from home owner who want to sell their unwanted house. We either fix them up and sell them to other families, rent them out, or assign them to another investor. We work also with people who need to buy homes and help them locate the perfect one for them. These homes cam come from our rehab side of the business and you buy beautiful homes that are move in ready. Or we have access to the MLS and everything it can offer. If you don’t have a lender to help you with a low interest loan, we have some that we can suggest you talk with.
Our goal is to help you navigate selling your unwanted home and get into a new house with a low interest loan. Reach out to our staff and tell us your story, maybe we can help.