Set A Realistic Sale Price
Everybody want the most money they can get for their house—am I right? But making sure your price is set exactly right is the #1 key to a successful sale of your home. The best way to do this is spend some time online at sites like Redfin or Zillow. You can type in your zip code and quickly see the homes near you and the price they sold at. Research the most recent comparable sales —those that have a similar size and features as the house you want to sell. Make sure to analyze all aspects of the property: whether or not it has a pool or access to a body of water or canal, the year the property was built, the proximity to shopping plazas, grocery stores, or other points of interest in the neighborhood. Determine the appropriate asking price by using the most recent sales possible, preferably in the past 3 months. If there are no properties similar to yours, consider using other properties that are a little further away—perhaps in a neighboring zip code. Again setting your price is critical— If you offer the property for sale too far below market value, then buyers may suspect there is something wrong with your house. Likewise if you set your sale price too high—you will never be able to sell the home.
Can You Be The Bank When You Sell You House?
There are many future buyers that are looking for a lending alternative who may not have the best financial history on paper, but are honestly trying to improve their situation. Offering owner financing might be a great option to open up your house to more buyers. You will want to make sure to do a background and reference check on your buyers, but this can be another way to profit handsomely when you sell your house. Owner financing would also be a great option if you are looking for long term monthly payments, and would be a great option if you already have the necessary cash down payment for your new house.
Do You Have A New House in Mind?
It is important to do research on your next purchase before jumping into something to take advantage of the low-interest rates. Check out the schools, entertainment, access to shopping and groceries. Check that the taxes are paid, check the zoning, verify if the property is in a property owners association, this will cost you over time and eat into your rental profits. Make sure you conduct an inspection of the house you are interested in, most lenders will require this anyway. You want to make sure you pick a house with a good structure, a comfortable floor plan, and some curb appeal.
Interest Rates Are So Low-Get a Lower Payment
The mortgage rates are at such a low point right now, it pays to take advantage of this opportunity! Lower interest rates mean the lenders are more willing to originate loans. It also means you may be able to buy a better house and/or have a lower monthly mortgage payment. Shop around different mortgage companies to find the best rate you can get with your financial situation. Keep your credit score in mind, and contact multiple lenders to see what they can do for you. Choose the lender that has the lowest interest rate with the length of payment 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.
Have You Considered Selling to a Home Buyer Like Us?
If there are circumstance that make it hard for you to put your house up for sale or you are in an urgent need to sell your house in Lowell MA, selling to a professional home buyer just might be the option for you. Naturally, we are a little biased about this option—but with good reason!
A home buyer company usually provides you with an all-cash offer. And because there are no banks and real estate agents involved they can give you an extremely quick closing. (Summit Buys Houses has closed a house sale in 10 days when it was necessary!) Perhaps as important if you have lingering concerns about COVID-we may only require a remote inspection first. The time you save combined with the money you don’t spend repairing your house may just put extra cash back in your pocket. To take advantage of the low-interest rates right now, you can use this quick cash to put towards your down payment for your next property.