Importance of asking price when you want to sell your home fast

sell your home fast

When you want to sell your home fast, the asking price does not always equate to the selling price. So why bother to come up with an asking price if you won’t sell for the same? At the same time, what constitutes an asking price? In order to set an asking price, you first need to do some research.

Find out how much the homes in your area are going for. You can do it by accessing leading real estate sites. Check current data for up to at least three months or more to see the closed sales, the fluctuation of the amount the houses were sold for and how long it took to sell the houses. Take an even bolder step and visit some vacant houses in the area to see how the houses look like so you can gauge the pros and cons of your home and use them as selling points. Another option is to get an appraisal. This can be done online or by an independent appraiser who has no interest in the outcome of the transaction. This is a good idea especially if you are looking to sell the house fast by yourself. It will, however, cost you.

An asking price should include expenses like the taxes paid for the house and insurance which will still be incurred during the time that you or the agent is looking for a buyer which can take time. You have to include the fees for the agent also. An asking price helps in the following ways.

Chooses the buyer that will help sell your home fast

The price will mostly be attractive to some buyers and will keep off others. There are different buyers for certain markets. If your asking price is high, you will attract the upmarket buyer. If it is average or low, you will attract the middle class or the low-end market. This is nothing to feel guilty about. After all, you want to sort the type of buyer who is capable of buying the house.

It paints a picture to the buyer

The asking price will tell a buyer what to expect even without them seeing the house first. For example, if you are in an area where the market price is around 50,000$ but you are asking for 75,000$ then it may mean either your house has features that are probably not found in other houses in the neighborhood and is in perfect condition, making it more expensive. On the other hand, if you ask for a lower figure like 40,000$, the buyer will think either the house has some work to be done on it, could be a quick sale or even that there is something wrong with it.

Invitation to negotiation

The asking price allows the start of a conversation whereby the buyer will place a counteroffer, and you can discuss from there either upwards or downwards. Most agents start with a high price then come down as the negotiations proceed.

Sell Your House Fast | Should I use a real estate agent to sell my property or sell to an investor?

Sell Your House Fast

When you want to sell your house fast, there are many things you have to consider. One of them is whether you want to sell it by yourself, through an agent or sell to a home investor. In order to answer this question, you will need to know if you want to sell your house quickly or not. Ask yourself if you have the capacity to bear the cost of repairing the house.

Advantages of working with an agent to sell your house fast

The agent has experience in the area because it’s his specialty. This means that you will do minimal work since he will handle most of the details including sourcing for the buyer, negotiating on your behalf and handling all the paperwork. He knows how the process works and is better positioned to guide you through it. The agent will also make sure you get a figure close to your asking price especially if he is working on commission to guarantee a good pay.

Disadvantages of working with an agent to sell your house fast

You will have to dig into your pocket to repair the damages in your house so the house can sell. You will also have to keep it top notch for viewing. Although agents usually have a list of clients looking for houses, it’s tricky to get the right one. Selling, therefore, may mean waiting for a long time to get the right fit. This means that you will continue to incur all the expenses as pertains to the house, e.g., insurance, taxes, etc. as long as the house has not been sold yet. There is also the probability that you may not get a price close to what you wanted.

Advantages of working with an investor to sell your house fast

The investor is qualified in his field of work and is aware of what it entails. The investor will tell you how much he will give you for the house outright and you can assess quickly if it’s a good deal or not. The investor will offer a price on the house as it is and therefore you will not be required to repair damages or improve it. You will not necessarily be required to clean the house. You also don’t have to wait for a long period to find a buyer since he is the buyer. You will not be required to pay taxes and insurance because he will take over the house immediately. Best of all you do not pay any money in the form of commissions or expenses to the investor. This is a good idea if you are looking to sell your home fast hassle free.

Disadvantages of working with an investor to sell your house fast

The major problem with an investor is that you will probably get a figure lower than the market price since he will also put into consideration the cost of repairing the damages himself and how much profit he will want to make from the house if he decides to resell it.

We Buy Houses Houston | Dealing with inherited property

We Buy Houses Houston

Most people who inherit property opt to sell house fast. Though the inheritance was a meaningful gesture, the property is not always convenient. You will find that there are additional bills that need to be paid and you will need to maintain the property that can be expensive. Once this happens, you might be thinking of how you can sell your house in Houston. Before you think of jumping into a “We Buy Houses Houston” company, there are a few things you need to know concerning selling your property acquired through inheritance.

If you want to get money from the inherited property, there are different ways you can get the cash. These are financial options you can pursue when trying to sell your inherited home.

Refinance

You can refinance the home with a bank and use the money you get for other things. The money will be a loan, so you still retain ownership of the property. If you wanted to sell the house for the money, it is an alternative option to consider. When you opt for refinancing, remember the loan still has to be repaid.

Rent to own

Another option is selling the house to a long term tenant through rent. Most of the time, the tenant wants a house but cannot get a mortgage. What happens is that the tenant pays rent plus an amount over it to cater for the sale. The tenant might also want to keep paying rent until they can clear their credit then get the financing from the bank that they need to purchase the house.

Sell fast for cash

Instead of looking for a buyer, you can sell your house fast for cash. You can do this by working with a house-buying company. These companies often buy the house as it is and pay cash within a few days. It is a fast process that does not require a lot of work.

Selling through an agent

If you want to sell your Houston home, you might be considering selling through an agent. Note that selling through a real estate agent is not wrong. However, you will be required to fix the house first by doing a few renovations and repairs. You also need to consider the cost f selling through an agent. You will need to pay closing fees and let’s not forget the commission fee that can be hefty at times. Also, selling through an agent involves a process that might take weeks or months before a closing sale is made.

If you are in a hurry to get the property out of your hands, selling through an agent would not be a good idea. Instead, you can opt for the other financing options indicated. Selling your inherited property does not have to be a hassle. You can sell it fast and use the money for other things.

Sell a House While Probate in Texas

Sell Probate is the act of transferring the property of a deceased person to new owners. Some people die without leaving a will, in such instances the courts are used to determine who gets what. The process to sell a house in probate is more complicated than when selling it while the owner is alive. The lengthy process can sometimes work against the seller, as many buyers lack the patience. It can take up to a month for the court to okay the sale.

Will

In cases where the deceased left a will, there is usually a person named as the executor. A will grants them the power to sell the house. Having a will eliminates the need to go to court. But if the person died without a will, the court uses the existing laws to give direction. A family member may apply to be granted administrative rights to the deceased person’s estate. Sometimes the family members may prefer to sign an affidavit of heirship to enable them to sell the property.

Appraisal

Once the legalities have been taken care of, the next step is to appraise the property. The assessment gives an accurate estimate of the value of the house. Usually carried out by an independent appraiser.

Court hearing

Next, you must seek the permission of the court to sell the property. Provide all the information about the sale including the appraisal forms. Some courts may require a hearing before approving the sale of the house. Inform all the potential buyers that the court will have to approve the deal. Court processes may put off other customers, as some do not like legal hurdles. The selling process will take longer because of the involvement of the court. It usually takes up to 40 days to get the courts confirmation. However, this can change depending on the schedule of the probate court.

Sealing the deal

Once the court has given you the go-ahead to sell the house, you can then advertise. More prospective buyers mean a higher chance of getting a good offer. Make sure that many people learn of the house you are selling. Local newspapers are a great place to advertise. Once you identify a buyer and have agreed on terms, you have to go back to court.  File a report of the sale with the court, providing details of the owner and the terms of sale. If the court is satisfied with the conditions of the sale, it will offer a sale confirmation within five days of making the application. Copies of the documents are availed to both parties for the sale to be closed.

To Sell a house in probate takes more time than a typical sell. It also requires more expertise. The seller is better off working with experienced lawyers and real estate agents. Professionals make the process smooth and help to reassure the buyers of any concerns they may have. The courts also have to ensure that the property of the deceased is not mismanaged. The rightful heirs must be the only ones allowed to dispose of the property.

If you want to sell a house in Probate in Houston, Texas, Sell My House Fast Houston can come to your rescue and help you navigate the complexities involved in the process. Contact us today and give us a chance to help you.

Sell A House Fast in Houston | 5 Tips For Success

5 tips to sell a house fast

Considering selling your house and want to do it as quickly as possible? Of course! Most people want that. We buy and sell houses all the time and have some proven tips on how to sell a house fast in Houston… or any other town or city.

We use these tips every time we sell a house we’ve fixed up. Most were learned when the real estate market tanked back around 2008.

With foreclosures up 81% back then, there were a lot of houses on the market clamoring for the attention of the reduced amount of buyers looking to buy a home.

We were forced to find ways to compete and get houses sold. In this article we are passing those hard-earned lessons on to you so that you can better be able to sell your house fast in Houston or anywhere.

sell a house fast

Selling a House Fast Requires the Right Price

We quickly noticed that the single biggest factor in getting a house to sell fast in any market is the price.

Yes, how much you are asking for your home plays a huge role in being able to get offers right out of the gate.

Consider this from the point of view of buyers looking to buy a house in your neighborhood or area. They are likely going through dozens or even hundreds of listings that are most likely sorted by price.

Everybody wants a bargain. They are judging your house and its price against what your neighbors are asking for a similar house.

Pricing a house is not the easiest thing to do in the world so we wanted to provide some quick tips to help you determine a great price:

  • Check compsFind out what other similar houses are selling for and how fast they are selling. Take the closest matches that sold quickly and average the selling prices.
  • How does your home compare?If you are working with an agent, you can have them show you pictures of the houses that sold. If you aren’t working with an agent, many times you can see pictures of houses that sold on Zillow.com or Realtor.com. Compare the fixtures and finishes to what you have in your house and adjust your price up or down based on what you find. Always be considering this from the buyers’ perspective. What would you think when you saw the houses that sold and then came and saw your house? It’s very important to be objective here.
  • Have friends give their opinionsSometimes we as homeowners are seeing things through a different lens. We need to get unbiased opinions from friends or family that are completely objective.

For more great tips on pricing your house for sale, check out this article on Zillow.

cash offer from a house buying company

Get an Offer from a Cash Home Buyer

Not everybody is aware there are people who buy houses cash that will make you an offer to buy your house quickly.

You might wonder,”why do they buy a lot of houses?” They buy for investment purposes and usually have the cash to close faster. This allows you to sell your house fast without even putting it on the market.

What’s the catch with these Houston house buying companies? They usually don’t pay full market value. That might be an issue if you need to sell for top dollar.

Of course, this option doesn’t make sense for all home sellers. It makes the most sense for people that don’t have the time or energy to deal with getting their house fixed up and put on the market. This is also a good solution for sellers that don’t like the idea of having dozens of complete strangers going through their house, looking at all of their stuff.

We buy homes in Houston and would love to talk with you about what we can pay for your house.

market your house for sale everywhere

Market Your House Everywhere

The quickest way to sell a house you put up for sale is to get as many eyes on it as possible. You need to make sure everybody knows the home is for sale.

 

Get an ad in the local newspaper

If you want to sell a house fast in Houston, you might consider putting an ad in the local newspaper or their website.

 

Use a Listing Agent

Real estate agents can list your house on the MLS (Multiple Listing Service) which will help you get maximum exposure.

If you decide to sell your house without an agent, you can get a ‘For Sale By Owner’ sign from HomeDepot or Lowe’s and stick it in your front yard. I highly recommend you get the directional signs as well. This will allow you to point people driving around your area to your house that is for sale.

 

Use Social Media

Take lots of pictures and do a video walk through. You can post these on Facebook and Youtube.

One social media platform is perfect for pictures: Instagram. Give it a try.

 

Tell everybody you know

Tell everybody you know that your house is for sale. Ask everybody you talk to if they know of anyone looking to buy a house in the area. You never know who might be looking for a house just like yours. This will certainly help you sell a house fast.

gives concessions to sell a house fast

Give Concessions to Sell Quickly

There are lots of ways to entice buyers to give your house a little extra attention.

Here are some of our favorite ways to sell a house fast by giving concessions:

 

Agent bonus

Reward agents for finding you a buyer. We’ve given bonuses of $1,000 or more for buyers’ agents that sold their buyers on our houses. You can do the same.

There are agents that look for listings of houses for sale where these bonuses are available and start showing their clients these houses first. Get yourself on the top of potential buyers’ must-see lists with this tip.

When buyers see your house first, they may just fall in love with it and make you an offer. Offering an agent bonus has allowed us to sell a lot of houses faster over the years.

Try it!

 

Closing cost assistance

Not all buyers need assistance with their closing costs…but most do!

If you offer to help pay closing costs for your buyers, they will much more likely to buy your house over others on the market.

In order to sell a house fast, you should consider offering this assistance. Be sure to write into the description of your listing your willingness to pay some closing cost assistance. It really goes a long way in persuading buyers to give your house more consideration.

 

Home warranty

This tip for selling a house fast is not mentioned often. Providing a home warranty gives buyers a peace of mind.

They might be nervous that they are overextending themselves when buying your house. They will likely feel better knowing that if something goes wrong, they have a warranty that will cover it.

American Home Shield offers a great home warranty that is pretty comprehensive. It’s great because it doesn’t cost an arm and a leg either. We’ve offered their warranty dozens, if not hundreds of times.

Offering a home warranty gives your home a competitive advantage that will allow you to sell your house quicker.

If you want to shop around and find the perfect home warranty, check out these reviews.

stand out when selling your house

Be Different

This piece of advice is one that I hope my competitors that sell houses don’t catch wind of. We make it a point to find economical ways of setting our houses apart so that they sell much faster.

The secret is spending some time to see what houses are for sale that your home will be competing with. Then, make note of the similarities between the houses.

  • Do they all have beige walls with white trim?
  • Do they all have formica counters?
  • Do they all have oak cabinets?
  • Do they all have brown exterior paint?

What you want to do now is find some things to do that will make your house stand out because it doesn’t just match all the others that are for sale.

You sell a house fast by making it unforgettable.

Great websites to get cheap design tips are Houzz.com and Pinterest.

Final Thoughts About How to Sell A House Fast in Houston

Whether you situation dictates you sell a house fast in Houston or somewhere else, you can follow these 5 tips we’ve outlined to pretty much guarantee a quick sale.

If you feel you’ve benefited from this article, please share it!

We’d love to hear any tips you might have for selling a house fast. If you have some tips, please don’t hesitate to leave them in the comments below.

We Buy Houses Scams In Houston and How To Avoid Them

Have those advertisements for people saying, ‘we buy houses’ caught your eye and made you question whether they are we buy houses scams? This is a very real concern for people considering this kind of service.

we buy houses scams signs

Trying to sell your house fast in Houston? Are you concerned that you might get taken advantage of or have the wool pulled over your eyes?

Join the club.

The traditional way to sell a house is using a real estate agent and having them list your house.

Maybe you would rather skip the hassles and sell to a Houston cash home buyer instead. Every year, thousands of people sell their homes directly to investors rather than listing with an agent. In fact, nationwide, 5.5% of home sales were to investors according to a report by RealtyTrac.

If you’ve never sold a home before or never sold one without the services of agent, it can be quite scary. It can seem downright overwhelming.

I’m going to share some tips for you to make sure that who you are working with is a legitimate house buyer and not someone looking to scam you. By the end of this article, you’ll be armed with what you need to know to choose the right company to buy your house.

The Sniff Test For We Buy Houses Scams

There are a lot of legitimate house buyers in Houston, but there are also some people that are running we buy houses scams. It can be difficult to know which one you might be dealing with.

The stakes are high. People have lost lots of time, money and even their houses to scams run by investors that don’t have any sort of moral compass.

It can be difficult to determine if who you are dealing with has your best interests at heart. Most of the time there are “tells” that will clue you in to their true intentions. These signs can mean you are caught in some of the we buy houses scams being used today.

 

  1. Application Fees – If a house buyer wants you to pay them any kind of fees to evaluate your house, run away as fast you can. This person is likely a scammer. Honest home buying companies don’t make money charging application fees. They make their money from buying houses, fixing them up and either renting or selling the house.
  2. Kitchen Table Closings – If a buyer wants you to sign over the deed to your house anywhere other than a title company or attorney’s office, you’re likely going to be making a costly mistake. Any sale you have should happen at a title company so that you can make sure the paperwork is handled properly and all liens are taken care of.Please do not mistake this for signing a contract to sell your house. That can and probably will happen at your house. Just don’t sign any Warranty Deeds, Quitclaim Deeds without the services of a real estate attorney or title company.
  3. Too Much Information is Given – Phony bank statements and pre-approval letters for loans are given without being requested from untrustworthy real estate investors. These investors present these documents to make them appear legit but these documents can easily be faked.This occurs a lot when the supposed “investor” lives in a different city than Houston and communicates almost entirely by email. I don’t know about you, but I’d rather work with somebody local that I can meet face to face. Just because they are not local doesn’t immediately make them a scammer, but I sure would rather know who I’m dealing with.

Scammers Don’t Always Look and Act Like Used Car-Salesmen

used car-salesman

It’s not always easy to pick out who the scammer is in a crowd.

Sometimes it’s the overly nice gentleman.

Sometimes it’s the straight and to-the-point woman.

Don’t let your guard down just because someone smooth talks you. You need to get the facts about who they are and what they can do for you.

We will discuss exactly what to ask for to determine whether you are dealing with the right kind of house buyer or not later in this article.

It may seem impossible to determine whether someone is genuine or running we buy houses scams…but it’s not.

One way is to trust your gut. If something doesn’t seem right…it probably isn’t.

Another way is to determine whether their actions match their words. Actions always speak louder than words and I’ve found them to be very telling about people.

If a Houston home buyer says he or she is going to meet you at your house at 2:00 on Wednesday and they show up at 2:20…they might not be trust worthy. They certainly don’t value your time or respect it.

If they walk through your house and tear it apart with harsh words about the house or your situation, you are probably dealing with someone that could care less about your feelings or what you get out of the deal.

Harsh words about your house are solely intended to force you to lower your opinion of the value of the house. This type of investor may as well be wearing a plaid suit and lots of gold chains. They are worse than a used car salesman…

A respectable and reputable real estate investor will always treat you with respect. They will show up on time and show empathy. When viewing houses, trustworthy house buyers will look for the positive aspects of the house as they know full well they will be making repairs and breathing new life into the home.

Other Not-so-obvious Semi-Scams to Watch Out For

There are many other situations that I call ‘semi-scams’ to watch out for. These may not be illegal or full-blown we buy houses scams but are intended to take advantage of you and your situation.

It’s best to avoid these at all costs.

  • Sub2 or Subject To Scams – Some investors use a strategy called ‘Subject To’ or Sub2 when using shorthand. This is where they buy your house from you “subject to” the existing mortgage. They will want you to deed them the house without paying off your mortgage.The biggest problem with this is that the mortgage is in your name and, if it goes unpaid, directly impacts your credit!It’s pretty easy to see why this type of deal is important to avoid. You would basically be trusting an almost complete stranger with your credit. No thanks!
  • Out of Area Wholesalers – Wholesalers are investors that do not typically buy your house themselves. It’s seems the majority of these wholesalers are not even in Houston, TX. They are out of area investors that target Houston because of the affordable housing. Many times these investors will pretend they are going to buy the house when in fact they have no intention of doing so.How it works is they put your house under contract for them to buy and then they go about finding a buyer that has the money to buy the house. When they find the buyer, they assign the contract they made with you to the capable buyer for a fee.This makes them the middle man that is taking a hefty fee that could have been profit to you.I recommend you find a house buying company that has the means to actually buy the house so that you maximize the amount of money you make from the sale.
  • Short Sales Scams – Short sales are where a bank or mortgage company agrees to release their lien on your house in exchange for less than the principle balance of your loan. Typically, you have to pay off any principle balance and interest due for them to release the lien. When they agree to accept less, you are performing what is called a short sale.A short sale in and of itself is not a problem, it’s when this is attempted when it doesn’t make sense that causes a lot of problems for Houston homeowners.If you are behind on payments but have a lot of equity and a home that doesn’t need any major repairs, you might have an investor convince you to attempt a short sale.Short sales can drag on for months and the bank may wait until just before a foreclosure auction to deny it. Then what are you going to do? You won’t have time to sell it. It’s almost certain to be lost to foreclosure.Some careless investors don’t give you all the facts when they attempt a short sale on your house. You also need to be aware that even if the bank agrees to take less for the lien to be released, they could put a deficiency judgement on you for the amount the loan was shorted. You will probably also have to report the amount shorted as income which could cause your income tax owed to be a real problem for you.

How to Avoid These Potential Scams

Do your homework to avoid we buy houses scams.

With some quick research you can easily determine whether somebody has a history of doing what they say. You can also find out if they’ve been in business for a while which shows they are stable and worthy of your business.

Crooks rarely stay in business long and almost always have negative reviews.

reputations are everything

  • Check testimonials – Be sure to look for online reviews and testimonials for the house buying company you are considering. Any reputable business will have statements from previous customers that can attest to how they do business. You can read dozens of reviews from customers of Icon Advantage Resources, Inc. here on our website. Take a look at them for an example of the types of things you will find for any honest business owner.
  • Check the Better Business Bureau – The Better Business Bureau (known as the BBB) allows consumers to leave reviews and rate local businesses. You should only work with house buying companies that have a strong rating with the Better Business Bureau.If a company is not rated with the BBB you can not have as much faith in their ability to do what they say.
  • Check how long the company has been in business – Great businesses have been around for a while. According to the Small Business Administration, nearly one third of all businesses fail within the first 2 years. If you find a business that’s been around for longer than 5 years, you can probably bet they are still around for a reason. They probably are doing something right.
  • Make sure to close at a title company – There is so much legal talk in contracts and deed documents that you simply must have a title company or real estate attorney handle the closing.This is to ensure that everything is done properly.The last thing you want is for something to be done incorrectly that you have to deal with years down the road.You could even run into a situation where you are sued because something wasn’t handled properly.Title companies provide title insurance that will protect you from most of these problems. It’s definitely worth it.
  • Don’t sign documents you don’t understand – This one seems to be common sense but is definitely not common practice. If you don’t understand something, don’t sign it.This is also where a good real estate attorney or title company can be worth their weight in gold. They should be able to break it down for you in layman’s terms so that you know what you are getting into.Great house buying companies will also take the time to clearly explain everything you are agreeing to in a way that makes sense to you. If you find you are working with someone not willing to do that, don’t work with them. Find someone else that buys houses.

Conclusion

When selling a house fast to a local house buying company, you should be aware of the signs of a potential we buy houses scam.

Armed with the knowledge from this article you are much better prepared to find a great house buyer for your house that will treat you with respect and do what they say they are going to do.

If you would like to get a fair cash offer for your Houston house, do not hesitate to give us a call at 832-663-7099. We would be glad to answer any questions you have and help you in any way we can.