Do you want to sell your home in Miami?
The process of listing isn’t as easy as you might think. There are repairs to make, exceptionally high cleaning standards to maintain, open house events, showings, bills, and other obstacles to avoid while at the same time you’re trying to move house as well!
Selling A House Can Be A Daunting Task.
That’s why we’ve put this article together to share some of the possible alternatives to listing your Miami home. A lot of homeowners don’t realize how many options there are to explore!
Consider some of the alternatives below before you assume listing is your only option in Miami!
Rent To Own
Setting up your house as a rent to own property is a great way to attract a wider audience of potential buyers. It can also guarantee you will obtain full retail value – sometimes more.
There are MANY upstanding individuals out there looking to buy a home, but fail to qualify for a traditional mortgage due to a minor blemish on their credit from years ago, or they are short on a down payment, or they have another mortgage on a different property.
Chances are these individuals will be able to pay a higher than average rent in exchange for homeownership. To get started, the buyer will pay you an agreed-upon “lump-sum payment up-front. This acts as a deposit should they fail to hold up their end of the deal. The buyer will also pay you a higher than average rent, with a portion of the rent going towards their down-payment.
After a year or two, the buyer must purchase the home outright. There are a number of ways you can set this up. Just be sure to choose terms based on what works for you!
Hold As a Rental Property
Have you ever pictured yourself as a landlord? Sometimes it can be a lot of hard work and effort. While other times – and with careful screening – you can find great, low-maintenance, reliable tenants.
Plus, a lot of homeowners who are unable to sell the traditional way, will consider renting out their home as an option.
If you’re concerned that it might take up too much of your time, you can always hire a property management company to help you with routine maintenance and rent collection. Many people soon realize that owning a rental property is an excellent way to secure additional income.
Selling to A Direct Buyer or Investor
When you choose to sell directly to a buyer or investor, chances are you will avoid many of the additional costs that you would encounter when listing. They’ll be no need to pay a listing agent, make repairs, or keep the property ridiculously clean.
A direct sale is typically a much quicker process. Direct buyers often pay in CASH. This means they are able to close on a deal without relying on bank financing.
Just be sure to read the fine print when you sell directly to an investor or buyer. You need to check that the terms are agreeable to you. And be extra careful since you won’t have a professional to help or guide you.
Many people are turning to auction services to sell their [marlet_city] homes. The trick here is to choose a site or person who will be able to generate buzz about your property. The goal here is to draw attention to your home using a fantastic marketing strategy and encourage buyers to outbid one another in a bidding war.
An auction is ideally suited for homeowners who want to sell fast and have a definitive date in mind. By selling quickly via auction, you could potentially save thousands that would have covered listing costs and agent fees.
Don’t forget to factor in your mortgage payments, homeowners insurance, property taxes, repairs, and general depreciation. If it takes several months to sell your home, these extra costs will add up significantly. You’ll soon see that holding on to a home, that isn’t income generating, is only costing you money.