There are a lot of factors to consider when choosing the right offer for your house. Sometimes, the highest offer is not necessarily the best. Here are some things you should think about when deciding which offer to take for your Statesville house.
Having multiple offers or different options when it comes to selling is a dream come true! Every seller would love the problem of trying to decide between multiple offers. However, you’ll want to employ some strategy when deciding which offer to pick. Just because the offer looks good on paper, doesn’t mean it’s the right one. Keep reading to learn more about some things to consider when deciding which offer to accept for your house in Statesville.
Tip #1 – The Actual Profits
The large number of an offer may look good on paper, but what you are really concerned about is how much you will walk away with after all fees and costs- your actual profit. A few often overlooked subtractions include closing costs, which can total 3-5% (your buyer will many times make an offer that includes you paying some of his or her closing costs to help them get into the property with little or no money out of pocket). If you are leaving appliances or furniture behind when you move, don’t forget the cost of buying new items to replace them for the house you are moving to. Repairs necessary to sell can add up quickly- both repairs while getting the house perfectly ready to please a picky buyer, and repairs your buyer will inevitably ask you to make once their inspection report comes back. Keep in mind, if you sell your house directly to Property Solutions, LLC, there are no repair or closing costs to worry about. We buy the property in its present, as-is condition.
Tip #2 – How They’re Buying
Some buyers will pay in cash instead of getting a mortgage to buy the property (although this is fairly uncommon). Most of your potential buyers will need approval from a traditional bank or mortgage company. Cash buyers are often favored by sellers due to the faster closing speed and less red-tape. The offer is much more likely to go through as you are not bound by the results of an appraisal, a home inspection, or worse still- your buyer’s credit score dropping during the 2-3 months it takes for the loan to close. Banks pull funding all the time because houses don’t appraise high enough. If your buyer is using bank financing to acquire the home, make sure they have been pre-approved so you don’t have to wait even longer for that to occur. Please note, that being pre-qualified is different than being pre-approved. With a direct sale to Property Solutions, LLC, you won’t have to worry about any hassles or waiting. We have the funds ready and available to buy your Statesville house outright, without any hassles or waiting. Our process is extremely simple and straightforward, with no red-tape to worry about.
Tip #3 – The Timeline
How quickly can the closing take place? The faster you eliminate your holding costs, the more cash you will be able to put in your pocket. Ask any investor and they will tell you that once you have decided to sell, the longer you end up holding a house, the more it is costing you. Your costs of ownership add up each month. Utility bills, property taxes, homeowners insurance, standard repairs, and maintenance are a few of the costs you will end up paying until the home closes. Once you add up all of the costs you will be facing month after month, your total could be in the thousands. By selling your house directly to Property Solutions, LLC, you’ll be able to close quickly and eliminate your holding costs right away.
Tip #4 – How Serious is the Buyer
In North Carolina, earnest money really has no useful purpose at all. If a buyer backs out of a contract, you actually have to take them to court and sue them to keep their earnest money (usually $1,000 at most). And, you are not allowed to sell the house until you have either refunded the Buyer’s earnest money, or gotten a successful resolution in court. Are you really going to sit with your house off of the market, and pay an attorney, all to get to keep your flaky buyer’s $1,000? Most people won’t, so you will likely end up giving that back if the sale falls through. A newer trend in NC is to utilize “due diligence fees”, which are nonrefundable amounts in consideration for you taking your property off the market. A buyer will be much less likely to default with a Due Diligence Fee on the line.645511111
When choosing the best offer for your Statesville house, it’s important to consider more than just the price. The selling timeline, method of purchase, and intent of your potential buyer can all have an impact on which offer you ultimately choose. To learn more about the costs and alternate ways you can sell your house in the Statesville area, feel free to reach out to us at any time.