Selling a house fast could have negative repercussions, believe it or not. Look at your big picture including all costs to find the best solution for you.
The best thing that could happen when you want to sell your Colorado house is for it to arrive in the listings and get a buyer very quickly. It will reduce the fees you must spend to market the house, reduce the length of time you will need to pay someone to maintain the house while on the market, and will stop the mortgage and insurance payments you are paying. So what could be wrong with a fast sale?
That’s pretty easy to answer. If you sell your Colorado house as fast as possible, it will most likely be purchased by a real estate investor that has the means to make such quick deals and may even have the cash on hand. Being investors, they want to get the best deal they can so they can turn a profit on the property. That only stands to reason, but they might be lower than you want to receive for your house.
The thing to do before you put the house on the market is to figure out how much your lender will accept as final payoff for the mortgage loan and be sure to count any fees they will require for early payoff. Then calculate what it will cost you every month to keep the house on the market.
That step is important because your actual profit from the sale of the house will be reduced for every month you continue to pay the mortgage, insurance, taxes, utilities if you aren’t residing in the house, maintenance of the house and landscaping, and homeowner’s association dues. You’ll have your answer once you add up all the costs of keeping the house on the market a little longer.
You might get a bit more for it by selling to an ordinary buyer who intends to live in the house, but how long will it take to sell and get through closing? Remember that buyers who buy the house to live in will also require that the house be in great shape.
If you have repairs that need to be done or remodeling that they wish to have you help them pay for, those costs will need to be added into the final numbers when you subtract from the profits of the final sale contract.
A Colorado Real Estate Investor won’t require you to make repairs or go along with any cumbersome contingencies that a buyer wants. In addition, the closing could be final within a week in most cases.
