It is a good time to sell real estate in Florida. There truly are buyers everywhere. The issue that property owners run into is locating a primed person ready to purchase. Just because there is a phone call about a listing does not mean someone will put up the cash. You can learn how to get rid of your house for cash in Florida using this guide.
In general, there are really only five ways to get out from under property ownership in the state of Florida.
Sell with a Realtor Approach
There is a misconception about what realty companies actually do. Some owners of houses think that realtors buy homes. Unless the company is an investment group, no agent is interested in purchasing your property.
If you want to sell with help from a realtor, you have to call them and set up an appointment. The agent, a man or woman, will schedule a day and time to look at your home. During the visit, he or she will take photographs, inspect (to the best of their ability) the home, and ask a lot of questions.
Along with looking at the interior, the agent will review the exterior of the property. This overview includes scoping out your sewer system or septic tank. The windows of the home will also be looked at closely. The paint or brick on the house, the driveway and garage are all scrutinized.
Once the scheduled visit is over, the real estate agent will return back to the office. It can take a few days or even a few weeks until a decision is finally made whether or not to list your house for sale in Florida.
An asking price will then need to be determined based on the review of the home. In most cases, a market price is calculated a little higher than what a house will actually sell for.
You will also have to pay for a home inspection and property appraisal. A licensed rep, commissioned by the state, will perform the appraisal and inspection. Any flaws, errors, building code issues or other issues will be reported in the public documents.
Your residence will be placed in a nationwide directory known as the MLS. Putting your home in this directory comes with a price tag. When this happens, sit back and relax. It will take up to 180 before you even receive a valid offer from a worthy buyer.
Once your house officially sells, it is customary for an agent to receive up to 6% commission at the final closing. Therefore, he or she will almost always mark up the price of your home to net the highest profit possible.
Congratulations! Once this process is completed, you sold a home in one of Florida’s 67 counties. However, you paid an awful lot of dough to make it happen.
The For Sale by Owner Method
The agency route might not be the best one to take. It is expensive. It is very time consuming. What if you need to sell really quickly?
The oldest method to go with is called for sale by owner. What this does is cuts out the third parties that would normally be involved in the selling process. You simply put a sign in your front yard, and then just wait for someone to see the sign.
Since you have no third-party assistance, you will have to do all of the work yourself. You will need to find your own licensed home inspector. Upon hire, he or she will come and inspect your entire property.
The results of the inspection report will reveal exactly what is wrong with each room, plumbing, sewage system, roof and other structures on your property. It is at this stage where most people trying to sell become very frustrated.
When problems are uncovered, you will have to either fix the issues yourself or just try to sell at a lower price. It is not unheard of to have to invest $20,000 or more to make repairs.
When your home is finally in a condition to sell on the market, a property appraisal will have to be made. A hired person will give you a market price that is based on a number of factors. This appraisal is also what a buyer will have access to prior to making their initial offer.
Some owners of houses list on Craigslist, OfferUp, newspapers or other free of charge services. It is possible to locate someone who is able to purchase your property. But, keep in mind, it might take several years and a lot of your time.
Once you have completed this confusing process, you will have found a buyer and got rid of your house. However, it will take a very, very long time to complete.
The Short Sale Selling Method
Homeowners that still have a mortgage might end up going into foreclosure. Banks are not very lenient when you get behind on payments. A less popular, but very known method, of selling a house in Florida quickly is called a short sale method.
If you already have one or two threatening letters from a mortgage company, foreclosure is either imminent or has already started whether you know it or not. The bank will move swiftly and try to put your home up for auction. Mortgage holders want their money. They will do anything to get it.
Either at or prior to this public auction, a short sale offer could be made. Every financial institution has a process to submit offers in writing. Once those are known, a typed offer could be sent to the financial department.
It is quite common for the offer to be denied. The severity of the number of missed payments, the equity in the property and length of time remaining on the mortgage are all evaluated.
A bank might say no if you ask them to take less than what you owe on the loan. If this happens, you can still make a reasonable offer for someone to buy your residence at the auction. The public sale will be announced, and buyers from across the USA will probably show up.
A minimum price will be placed as a starting bid. Property investors do look for deals at auctions especially when a short sale is possible.
It is probably best to save yourself the public embarrassment of going through a short sale once foreclosure has begun. The reason is that you can still be liable to pay back the bank for what they have lost while selling your single-family property!
A judgment could go on your credit report, and it might ruin you financially. It is not impossible to be approved for a short sale; however, it is highly complex and not easy even for a savvy homeowner to conduct.
Sell FL House to Investor Method
Ever since the Great Recession in 2008, people who want the lure of easy money have moved to Florida. Some investors bought a lot of foreclosed houses while other people acquired some houses that were in probate. A large percentage of the people are one-off investors that prey on property owners that know nothing about real estate.
If you have ever received a post card in the mail with an offer to buy, you have likely been targeted by an investor. Once they have your mailing address, they will never leave you alone. One or more of these self-trained experts will repeatedly contact you.
It is very common to have a stranger show up at your door and ask who owns the house. The investor wants to make a cash deal. But, the deal will always be in their favor, and it is not meant to help you. In reality, the people who show up at your door have no money, and they get money from a third-party. This entity is the real potential purchaser of your house.
People fixing up and flipping homes want to pay the least amount of money possible. Therefore, they do not care if your house has old windows and doors. As long as your home is still standing, an offer to make a purchase will probably be made.
The person interested in buying will probably pay out of his or her pocket to get an appraisal. A home inspection might be scheduled or not depending on the funds of the flipper.
Realistically, don’t expect to get an offer more than 50% of the total value of your property on the high side. Investors love to tell you that because your home needs so many repairs they cannot offer your more money.
Basically, take the offer or leave it. That’s how selling to a house flipper in Florida works.
Companies That Buy Homes in FL Method
Unlike a person flipping Florida homes, agencies with a group of buyers are more professional. Making an offer and closing on one are two completely different things. A group can close is as little as three days, and you can avoid pay closing commissions.
Every person working at a company is experienced. Many of them actually have a real estate license. Some work as brokers, but all of them know exactly how to help homeowners sell houses fast.
If you are asking how can I get a cash offer for my house, the answer is through companies that buy homes in Florida.
For instance, CashBuyerTeam.com has bought thousands of homes. With an office right in the state, all transactions are processed quickly. You can and will get the money that you need. A friendly team that is sympathetic to your situation is what you will encounter.
Would you ever sell your nice house to a company that calls it ugly? If you say yes, you will probably get an even uglier offer.
Why take the chance and lose money with lesser offers?
There are plenty of resources on this page to help someone sell a home and get money fast. You have nothing to lose getting an offer here.
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