Are you having trouble with your Loganville house and want to get it off your hands? Perhaps you need to relocate for work and family next week and don’t know what to do with your house. Whether you are letting go of your marital home, tired with your unmanageable tenants, inherited a house that you don’t want to take care of, have hopeless plumbing problems, or simply starting a new life in another place, you have plenty of options to help you sell your house quickly.
If you are not looking to sell your home immediately, selling your house on the market is usually favored. This is because you can sell your house at market value or even higher than the average market value. However, if you need to sell your home fast, selling to professional home buyers or iBuyers (Instant Buyers) is usually recommended. This is because you can sell your house for cash without the hassle of appraisals, negotiations, house repairs, contingency clauses, unpredictable buyers, and the like.
In this article, we bring you some of the most popular approaches to sell a house in Loganville, Georgia:
Sell the House By Yourself
More popularly known as “For Sale By Owner” (FSBO), this method is usually preferred by home sellers who do not want to take the risks of working with realtors. Selling your home by yourself is beneficial because you get to save money — no paying for commission and no pressure of home renovations. If you know of a potential buyer already, you can go for FSBO; even so, if you are still looking for leads, you can also list your house on the market. Here are some fast tips to help you be competitive enough with other Loganville home sellers:
1. Repair, But Repair Smart
If your house needs a lot of repairs (common among old, inherited houses), you can refer to the Georgia Property Codes and fix what is only specified in it. You do not need to renovate to impress because upgrades will not ensure a sale. If you do have an extra budget for design improvements, you can start with the kitchen, bedroom, and living room.
2. Do Not Over-Price Your House
There are many online valuation tools that can give you a good estimate of your home’s price. These estimators pull data from county records, look at your sale competition, consider your house condition, and the size of your property, so the values are considered good. Some tools you can check out are by Redfin, HomeLight, and Opendoor. Zillow also publishes “Zestimates” for over 97 million houses in the U.S., so you can get a picture of how much your neighborhood comps are also worth.
But remember that online valuation tools are only initial guides. Real estate agents create comprehensive market analyses that also consider the number of bedrooms, architectural style, surrounding views, and the home type (e.g., single-family home, townhome, etc.). Apart from these, you can also hire an appraiser to give you an official estimate (which you can show as proof to your buyers).
3. Stage Your House for Your Listing
Staging your house lets your buyers see your home’s potential. In fact, according to the Real Estate Staging Association, 85% of staged homes sold for 5-23% over the list price. Professional home stagers charge a consultation price between $300-$600, on top of the $500-$600 per month per staged room — that’s how in-demand home staging is.
The good news is, you don’t have to hire an expert home stager to prep your home! Here are some things that you can do to make your home look brand new:
- Get rid of clutter
- Store away your personal stuff
- clean your curb and front lawn
- wash and press pillowcases, curtains, and bed linens
- vacuum all carpets and floor mats
- use beeswax to make your wooden cabinets, floor, and furniture look new
- rearrange furniture to create space
- let natural light in
- focus on staging the master bedroom, kitchen, and living room
4. Learn How to Negotiate From Top Brokers
Negotiating is not just figuring out a win-win situation for both you and your buyer. It also takes skill to communicate in a way that will make buyers feel they are making the right decision to buy your house. Remember that purchasing a house can come with a lot of emotions. With this, here are some ways to help you get that “yes” from your buyer:
- Find out what your buyer needs in a home or their non-negotiables (to know how to add value)
- Tell them that you are open to waiting, but make sure to ask for earnest money between 3%-5% of the purchase price
- Give your buyers pricing options (to make them feel that you are genuine in helping them make an informed decision)
5. Prepare All the Necessary Documents
Many people prefer working with real estate agents because they are assured that these people know the legalities of selling a house. You can be like this too, but it just takes a little bit of homework. You can also consult with a real estate attorney for a minimal fee.
Work With a Real Estate Agent
If you want to sell your house the traditional way, hiring a real estate agent is your way to go. Real estate agents will list your house in a multiple listing service (MLS) and will help you identify a fair price for your home based on a comprehensive market analysis (CMA). Agents are trained to read the market and negotiate, which is why many people don’t mind paying commission. In Loganville, agent commissions average at about 5.98% of the purchase price.
Sell to an iBuyer
iBuyers are direct home buyers that can purchase your house for cash, remotely. All you need to do is fill out an online form and wait for their offer. Some of the biggest iBuyers in the U.S. are Zillow, Opendoor, Redfin, and Offerpad. Before the Coronavirus pandemic, iBuyer purchases grew consistently year after year since their inception in 2014. The Houston Chronicle even reported that one of every 100 houses sold nationally in 2019 were sold to iBuyers.
The drawback of selling to an iBuyer, however, is that you can get a purchase price that is way lower than the market price. In addition, some iBuyers may require you to make specific repairs before they will buy your house. If you don’t mind these, then you can consider selling to an iBuyer.
Sell to Other Professional Home Buying Companies
There are several other types of professional home buyers aside from iBuyers. There are house flippers, buy-and-hold companies, trade-in companies, and more. If you need to sell your Loganville house quickly, your best bet would be to get in touch with a professional home buyer. Like us at Spire Property Solutions, we can close a deal and buy your house as-is in as fast as seven days!
Whichever approach you want to go with, it will depend on when you want to sell your house, how much you need for your house, and how much you are willing to spend to sell your house. If you wish to know more about the advantages of selling to professional home buyers like us, feel free to reach out via the form below, or call us at (678) 318-1801!