Tips when selling your house
>What questions you should not disclose to an IBuyer / Investor?
This information cannot be used against you in negotiations or even during the contingency period to take a larger portion of your net proceeds. Consider how you will feel a day before you close, expecting to be able to move on with your life. Now imagine that a week before closing, the Ibuyer informs you that the repairs will cost $25,000 more than estimated, and that if you do not lower the price, they will cancel escrow. How would you feel then? A professional experience agent representing you knows how to negotiate these contingencies and when you have the leverage, not when you are at your weakest.
After the Home Seller thought it was an agreed upon price by the I-Buyer; they would state it is the obligation of the seller to conduct their own due diligence in order to analyze and determine whether or not to accept the offer. They expect sellers to be oblivious to the terminology and jargon, and fail to read between the lines. These I-Buyer hedge fund investors aren't there to represent your best interests; they are a buyer who is determined to pay as little as possible for your home.
These costs include the expenditures of purchasing and reselling the seller's home, as well as holding fees such as taxes, upkeep, and utilities. This cost is upwards of 7% (perhaps as high as 10%), which is higher than the commission paid to an agent by sellers. Offerpad states that the service fee is just 4-7 percent, but then goes on to say that you will also be responsible for all of the usual transaction fees associated with selling a house, such as the commission (another 3%), as well as the holding costs of utilities, maintenance, and taxes. Home sellers have seen the fees as high as 17% from selling to I-Buyer investors. 3 times that of a commission the Seller ended up paying.
An Ibuyer would say that they don’t charge commission but they charge service fees that add up to more than a commission would; without any service of representation to the seller. You pay more, get less. They find any reason to deduct money from their offer, and by waiting until after the seller has already signed the offer; the seller is legally obligated to correct everything, regardless of the cost.
If they decline, the Ibuyer will reduce their already low offer by a large amount. The Ibuyer will deny any further negotiations because they wrote the deal, and the unfortunate sellers are stuck. Which is why you don’t use the contract provided by one of the parties negotiating against you. The terms in the contract are written by the Ibuyer for their advantage.
Selling a home is not an easy process as the Ibuyer investors would like you to think. As simple as pushing a button; because they don’t represent your best interests.
>Pro of having Personal Hands On Experience working for your best interests not against:
>The Selling Process is long and complex:
>A home seller can lose many more times the investment of a licensed professional sales commission.
>A Trusted Experience Professional Licensed agent will guide through the processes so you make the higher net process, not the Investor buying your house. If you want to : Sell as-is. Pay zero fees. Move on your timeline. No repairs, cleaning, or showings.
Lower priced real estate markets when relocating from Las Vegas
Downsizing Your Home: 3 Money Benefits
How to Downsize the Right Way
Smaller mortgage payments and spending less time dusting those spare rooms may sound like a dream come true
Wouldn’t it be nice to have less to clean and more money in your pocket?
Financial Benefits of Downsizing
Still not convinced? Then it’s time to bring out the big guns and talk money. What if you reduced your mortgage by $500 a month and put that cash toward other financial goals? Check out three strides you could make:
1. Attack Your Debt Snowball
If you’re working hard to kick debt to the curb, downsizing your home can help you maintain that gazelle intensity. Let’s say you owe $18,000 on your student loan. With a 6% interest rate and a minimum payment of $200 a month, you’ll be paying on that loan for 10 more years!
But throw an additional $500 at your loan each month, and you’d trim a whopping seven years and eight months off your pay-off date. Sallie Mae will have to find a new place to live, because you’ll be free from student debt in less than two-and-a-half years!
2. Boost Your Retirement Fund
Once you’re debt-free with a fully funded emergency fund, it’s time to build wealth for the future. Dave recommends investing 15% of your household income into Roth IRAs and pretax retirement plans. If you’re still working your way up to 15%, that extra $500 could be the push you need to get there. And, boy, the difference $500 could make! In 30 years, you could have an additional $1–1.6 million in the bank to get you through your golden years. You can do a lot of living and giving with that nest egg!
3. Pay Off Your Mortgage
Want to downsize Dave’s way? Trade in your mortgage for a paid-off home! Use the proceeds from selling your current home to pay cash for a smaller one. Just imagine what you could do with no mortgage holding you down!
If you can’t pay cash, aim for a 15-year, fixed-rate mortgage and put at least 10–20% down on your new home. Apply the $500 you saved from downsizing to your new monthly payment. At 4.5% interest, you could pay off a $200,000 mortgage in less than 10.5 years, saving almost $25,278 in the process. Cha-ching!
First Impressions are extremely powerful.
Potential buyers make an emotional connection with a house from the moment they first see the property from the curb and then again when
they step over the threshold.
Sometimes the house will grow on the buyers, but most often the first impression the house makes is the one carried away. Buyers may have
looked at five or more houses on the same day they see your house. The house that looks the most spacious has the most curb appeal and
is the most cheerful will be remembered but so will the house with the cramped bedrooms, cluttered closets and Christmas lights in May.
According to real estate agents, there are two main reasons a house sits on the market unsold. The first is price. If the house is priced too
high even reducing the price later often doesn’t revive enthusiasm in either real estate agents or buyers. Trust the professional expertise of
your real estate agent to set the best selling price.
The second reason a house flounders on the market is the condition and appearance of the house. You feel confident that your house will
sell because it’s your home but it is hard to look objectively at your house. It is very important to be aware that prospective buyers don’t
share your same nostalgia; instead they see what is clearly visible.
Your house, with all its charm, comfort, solid built construction and attractiveness must be obvious from the instant the buyers first see it
driving to the door. Don’t rely on the buyers to use their imagination to see your home’s potential.
Inside the book are successful strategies for selling your home. There are check lists for every area of your home starting from the curb and
into the basement. There is also a tip sheet for adding special touches and a personal “To Do” list for your own unique requirements. Also
included are easy and inexpensive household hints along with web site addresses... from hardware stores to home décor.
Finally, there is a special “Broker with Buyers on the Way” last minute checklist. This is a helpful list of those last minute details to do just
before that front door bell rings.
Should I sell my house As Is or fix it up
Should You Sell Your Home As Is, or Spring for a Renovation? Here’s How to Decide
Jul 16, 2022
When you decide to sell a house that desperately needs updating, you basically have two choices: Sell it as is—in its current condition without improvements—or make upgrades in the hope of reaping bigger bucks down the line.
While renovating your property will inevitably sell your home faster and for more money, listing your property as-is has its perks, too—including not having to fork over lots of cash for major improvements you won’t get to enjoy, and not dealing with the headaches of those improvements.
Deciding what to do can be overwhelming, but we’re here to break it down for you. If you want to unload your property pronto and for maximum cash, here are some things to keep in mind.
Out of house often means out of mind
If you’ve already purchased another home and have one foot dangling out the door, things can get challenging. Between work and family obligations—plus dreaming about decorating your soon-to-be new home—chances are you won’t have the time or energy to reimagine your old one.
“Unless you find a real estate agent whose experience you can trust, someone who has a very good track record preparing homes and understands how to do the work, you’re often better off to sell the property as is, so that you don’t get involved in chasing the market,” Stewart says.
Assess the potential workload, time, and money it’ll take to upgrade
Get an expert opinion—or better yet, several opinions—regarding how much updating and repair work would be required to boost the home’s bottom line: Does the place just need a good scrub, or an entirely new kitchen and three new bathrooms? And more importantly, do you have the cash, the time, and the patience to see the project through?
Morse, who’s worked for several clients who wanted to spruce up a neglected home prior to listing it, suggests that sellers should identify three projects that need doing, and then consult their agent to crunch the numbers.
“Sellers should ask what their return would be if they fixed the bathroom and kitchen, for example, versus what the investment would be,” he says. “Then, get three prices from three qualified local contractors.”
And don’t forget to factor in the cost of owning the home during major renovations. Depending on how extensive your revamp is, you might need to find temporary housing while your property is being gutted, so add that fee to your bottom line.
99% of real estate agents believe that curb appeal is important to attracting Buyers.
The 3 landscape projects that have the highest return on investment
Highlights for Residential Outdoor Features & Landscape Enhancements:
• REALTORS® ranked a standard lawn care service as the number one project that appeals to buyers again this year. REALTORS® also estimated that lawn care would recover 267 percent of the cost estimated by landscape professionals.
• Landscape maintenance and tree care recover 100 percent of the costs at the time of sale, according to NALP members and REALTORS®.
Landscaping to increase Buyer’s and increase home sale’s price,
Make your home stand out from the others and win the buyer’s offers.
Outdoor Home Improvements That Pay Off
Landscaping projects- homeowners’ motivations complete landscaping projects put in the work in the hopes of boosting the resale value of their homes.
A report from the National Association of REALTORS®, 2018 Remodeling Impact Report: Outdoor Features, analyzed 13 outdoor residential projects to determine which have the highest ROI at resale and which bring homeowners the most enjoyment.
Many outdoor projects increase a home’s curb appeal, which is extremely important when it’s time to sell a home. 94% of REALTORS® say that they have encouraged sellers to improve their home’s curb appeal before listing their home, and 99% believe that curb appeal is important in attracting a buyer, the report says.
The projects with the highest ROI.
Standard Yard Care Service
The project: Standard Yard care service, including six applications of fertilizer and weed control, on 2,835 square feet of lawn In Las Vegas, think about applying a fresh layer of decorative desert rock coverage.
Cost estimate: $375
Estimated ROI: $1,000
The homeowner is expected to recover an astounding 267% of the cost of this project at resale.
The project: Annual mulch application, mowing of 2,835 square feet of lawn, pruning of shrubs, and planting of approximately 60 perennials or annuals For Las Vegas xeriscape, decomposed granite gives a fresh clean look around the desert friendly plants.
Cost estimate: $3,000
Estimated ROI: $3,000
With this project, the homeowner can expect to recover 100% of their investment at resale.
The project: Three applications of tree fertilizer; regular spraying, trimming, and pruning; and the removal of one 30-foot tree by professional
Cost estimate: $2,000
Estimated ROI: $2,000
The homeowner is expected to recover 100% of the cost of this project at resale.
Of the 13 outdoor projects analyzed in the report, standard lawn care service, landscape maintenance, and tree care are the only projects that allow homeowners to recover the entirety of the cost upon resale.
However, the report found that many of the other projects have emotional value. All 13 projects were also ranked on a “joy score” from 1-10 to indicate the amount of enjoyment that homeowners gained from the projects.
Two projects — a fire feature and an irrigation system — received a perfect joy score of 10.
- This report takes a deep dive into the reasons why homeowners complete outdoor remodeling projects, the value of taking on lawn and landscape upgrades and enhancements, and the increased happiness experienced by homeowners once an upgrade is completed. It also explores the benefits associated with landscape enhancements to commercial property. The report covers:
• The typical cost of 13 outdoor residential projects and 10 commercial enhancements, as estimated by members of the National Association of Landscape Professionals (NALP).
• How much appeal each residential project is likely to have for buyers, according to REALTORS®.
• How much REALTORS® estimate homeowners can recover on the cost of the outdoor residential projects if they choose to sell the home.
• The top outdoor projects for commercial properties, according to NALP members and REALTORS®.
Home Sellers increase your house sales price with higher ROI staging and decorating ideas
Home Sellers increase your house sales price with higher ROI staging and decorating ideas.
New model homes don’t show as empty containers. Builders spend a lot of money decorating and staging their homes to increase the attractability of as many buyers as possible. The more buyers interested in your home for sale, the more demand in the sales price equation.
But you don’t want to spend a lot on a home you are selling and moving. You want a return on your investment that will increase the sales price by considerably more than what you spend to improve the home's attractiveness..
Adding plants is a great way to add decorations around the house! Not only do they provide a decorated benefit, they also provide a health benefit by filtering the air in the home. The most common houseplants are low maintenance and easy to grow. Search houseplant that filter air and you will see many varieties that will suit your style.
Here is where you get to be more creative on a dime. How to display the plants- create your planters with inexpensive material and you will have something completely unique not sold in any store.
Start with the inexpensive plastic planters at the hardware store and paint them with metallic paints or any paint you prefer.
Hang them off walls or from ceiling so they decorate the room at different levels. Don’t need an expensive art piece to fill that blank space on the wall. Pick up some kind of hardware, paint it and attach to the planter with stainless steel wire for a modern contemporary look. Anything you can think of, be creative in your design and keep it simple.
Here are some quick projects:
Would I put these up in a multi million house, depending how much quality and style is put into the design and creating of the piece. After all, these can be considered original art pieces and subject to the eye of the beholder.
Have fun, be creative and original.
Home Renovations That Deliver the Highest Return On Investment
Homeowners and renters remodel, redesign, and restructure their home for a variety of reasons. This report takes a deep dive into the reasons for remodeling, the success of taking on projects, and the increased happiness found in the home once a project is completed. It also contains:
• The typical cost of 20 remodeling and replacement projects, as estimated by members of the National Association of the Remodeling Industry (NARI)
• How much appeal each project is likely to have for buyers, according to REALTORS®
• How much REALTORS® estimate that homeowners can recover on the cost of the projects if
They sell the home.
Thirty-five percent of U.S. homeowners would rather move to another home than remodel their current home. Fifty-five percent of owners in suburban areas and 52 percent of owners in urban areas say they would be willing to remodel their home. This jumps to 70 percent for owners in rural areas.
When consumers remodel, it is to upgrade worn-out surfaces, finishes, and materials (34 percent); because it is time for a change (18 percent); and to add features and improve livability (15 percent).
REALTORS are asked to rank interior projects in terms of their appeal to buyers. Complete kitchen renovation, kitchen upgrade, HVAC replacement, and new wood flooring topped the list.
REALTORS® also ranked projects in terms of the expected value at resale, without regard to price. Again, complete kitchen renovation, kitchen upgrade, HVAC replacement, and a new master suite topped the list.
REALTORS® rankings matched closely with what homeowners themselves said. NAR calculated a Joy Score for each project based on the happiness homeowners reported with their renovations. Interior projects with a Joy Score of 10 were complete kitchen renovation, closet renovation, full interior and individual room paint, kitchen upgrade, and basement conversion to a living area.
Finally, REALTORS® provided an estimate of the likely dollar value each project would add to the house at resale. In comparing that dollar value to the estimated cost of each project provided by NARI members, a Recovered Project Cost percentage was calculated. For interior projects, the highest percentage cost recovered was from new wood flooring at 106 percent, hardwood flooring refinish at 100 percent, HVAC replacement at 85 percent, and insulation upgrade at 84 percent.
While not all measurements yield the same outcome, there are some similarities and patterns to be found.