If you are looking to sell your house in Houston, you are probably drawing up a checklist right now of all of the things that need to be done like fixing up your property, getting an appraisal and contacting a real estate agent. Many home sellers, however, are unaware of the many options that are available to them to dispose of a home in which they no longer wish to live. If you live in Houston and are thinking about selling your home, here are five options that are available to you.
1. Traditional Route
Of course there is the traditional route. Paint your house, improve the curb appeal, make repairs and then contact an agent. The agent then takes care of selling the property and all of the necessary paperwork. All you have to do is sit back and wait for the house to sell. You will still have to make sure the house is presentable before it is shown, but you will not have to worry about anything else. Keep in mind that the realtor will receive a cut of the proceeds from the sale of your home.
2. For Sale By Owner (FSBO)
You can cut out the middle man and sell your home yourself. Doing this means that you will not have to give money to a real estate agent. It also means, however, that you will have to know a lot about real estate laws and the home selling process. It should also be noted that many homes that are sold by their owners do not fetch as high a price as those sold by realtors. With this in mind, it may be better to surrender some of the proceeds of the sale on an agent.
3. Land Contract (owner financing)
A land contract, also known as owner financing, is basically where the owner sells his property to someone who does not have a home loan. Instead the owner allows the purchaser to live in the home and make monthly payments directly to him. The upside is that the owner can potentially make more money when cutting out the bank. Rather than paying interest to the bank for a home loan, the buyer pays interest to the seller as part of their regular payment. The downside is that you will essentially have to be a landlord until the tenant pays off the debt.
4. Rental Property
If you are willing to hold on to your property, you could rent it out. Renting your property allows you to make additional income. The downside is that you would still have to own the property and care for it. Being a landlord means that you might have to make repairs to keep tenants happy. You would also have to deal with tenants who stop paying their rent. If you are willing to continue managing the property, however, renting can be a worthwhile option.
5. Sell to an Investor
Selling your home to an investor has a lot of advantages. You may not get as high a sales price as you might going the more conventional route. But the difference can be more than made up in the repairs you do not have to make and the other people you do not have to get involved. Most investors do not require your house to be fixed up. They are happy to take it “as is.” You do not have to give a realtor a portion of your proceeds once the house is sold. Most investors will make you a cash offer which means there is no waiting on a bank. And if you go through us, we will cover the closing costs and close quickly.
When selling a home in Houston, you have many options to choose from. You could go through a realtor, sell your home on land contract or even become a landlord. If you are looking to sell quickly, however, and do not want to make repairs to your home, consider contacting us. We will buy your home “as is,” pay cash and close quickly.