6 ways to sell a home & benefits of each
I have met with so many sellers who inherited a home they did not want. As a probate specialist, these are typically the only people I work with. But every seller I've ever met, usually is unaware there are so many different ways to sell a home - and each method has its own benefits! Here are the 6 options I offer and explain to every seller I meet:
1. ON MARKET FOR TOP DOLLAR
This is the most obvious and common way to sell a home. We can list it for you, stage it, clean it, do repairs and get it ready to attract the highest and best offers available by marketing it to the widest swath of buyers. So much of this method depends on how you market the home to the largest number of buyers. We do 3 types of marketing to get the house in front of as many motivated and qualified buyers as possible: direct, social and network marketing.
2. ON MARKET AS-IS
This is another obvious and common way to sell. You list it with a realtor, but the home is sold strictly as-is. No repairs, no staging, maybe even no clean out - although whatever you can do to present the home well for little to no upfront cost is encouraged. The benefit of selling this way is that if the home needs updating or some repairs, you can still market the property to a large swath of buyers but you must upfront about it being a fixer upper. The downside is of course you won't get as much money as you would with option 1, but for sellers who can't or don't want to do repairs or clean out, it's a fantastic option. All on market buyers do have the right to an inspection and will likely have the right to cancel the contract if there is a costly repair that they do not want to do, cannot afford, or cannot get financing for. Buyers need to be carefully vetted to ensure they can and will close on the home as-is.
3. LEASE TO OWN
This is a less common, but very lucrative way to sell. Assuming the home is in good, move-in condition, you can lease the home to a tenant who has the OPTION to purchase the home in 3, 5, 7 or 10 years. You agree on a purchase price upfront. They make a small, non-refundable down payment at signing and then pay monthly rent like any other tenant. In a few years, they can get a mortgage to pay you off or they can move out and you can release or list the home for sale at that point. This method can allow you to sell for well above market value without doing a huge renovation because of the beneficial terms you are offering to the buyer/tenant.
4. SELLER FINANCING
This is similar to lease-to-own, the difference being the buyer will likely be an investor who does not plan to live in the home. We will work out a financing plan with you, and you will be paid in 120 to 360 even monthly installments. This way, you can defer your tax liability and you can get a much higher price for the home. It is a fantastic option for a home in any condition, as long as there is a low or no mortgage on the property. Think about how much you pay in interest on your own home mortgage. On a $300,000 home with a 3% interest rate paid over 30 years, a seller could net an additional $144,000 above market value throughout the full term of the loan.
5. OFF MARKET EXCLUSIVE OPEN HOUSE FOR INVESTOR CLIENTS
This is where we market your property to our existing investor clients. It is not listed on the MLS, Zillow or publicly anywhere else. It is an 'off market' sale. This is a great way to sell a home quickly and easily or a home that is in need of repair. You don't have to do anything to clean out the home or to repair the home. All commissions are paid by the buyer. Sellers don't have to do anything to get the home ready for sale - no repairs, no clean out. We can generate multiple cash offers for you to consider this way.
6. OFF MARKET INVESTOR PURCHASE
This is where we pay cash directly for the home. No walk throughs or showings, other than our initial meeting to see the home. This is the fastest, easiest way to sell.