Do you want to sell your home in Texas? If so, we want to share some possible alternatives to a listing. Many people aren’t aware of the options that are often available! Check out our latest post to learn more about what is available for you!
Selling your house can be a daunting task. The listing process isn’t always as simple as is seems. There are repairs to make, cleaning to maintain, open houses, showings, bills, and other hurdles to clear, all while you are trying to move!
Alternatives to a listing can work more efficiently in some situations. Consider some of these alternatives when you are ready to sell your Texas house!
Rent To Own
An awesome way to get your house in front of a larger crowd is through a rent to own structure. It guarantees that you will get full retail value for the home, sometimes more. There are many people looking to buy a home, but cannot qualify for a traditional mortgage due to a minor blemish on their credit from years ago. They are short on a down-payment or they have another mortgage on a different property.
These are good people, who, in exchange for a chance at home ownership, will pay a higher than average rent (with a portion going toward their down-payment). To begin, the buyer will pay you an agreed upon “lump-sum payment” up-front. If they fail to hold up their end of the deal, this payment acts as a deposit.
After one to two years, the buyer must purchase the home outright. Choose terms that work for you – there are many ways to set it up!
Hold As a Rental Property
In some cases, being a landlord can be a lot of work. Other times, you can find some awesome tenants through careful screening. Renting your home out is a common alternative for those who aren’t able to sell the traditional way.
If it seems like a lot of work, hire a property management company to assist you with routine maintenance and rent collection. Owning a rental property is an great way to secure extra income for many people.
Selling to A Direct Buyer or Investor
When you decide to sell your home directly, you will likely save many out-of-pocket costs that are encountered when listing. You won’t need to pay a listing agent, make repairs, or clean up. The process is much quicker when you sell directly to an investor. Direct buyers are also able to close without relying on bank funding, because they often pay in cash.
When you sell your house directly, read the fine print and ensure that you agree with the terms. When selling on your own, you will not have a professional to help guide you. Not all home buyers are the same!
Many people are turning to auction services to sell their Texas homes. Choose a site or person who will generate buzz about your property using excellent marketing. The goal is to draw attention to your home and encourage buyers to outbid one another.
An auction is great for people who want to sell and have a definitive date. By selling quickly, you can potentially save thousands as opposed to listing your home.
Factor in your mortgage payment, homeowners insurance, property taxes, repairs, and general depreciation, and you’ll see that holding on to a home that isn’t generating income is only costing you money.