Theoretically, selling real estate is uncomplicated. After all, you need absolutely nothing: collect documents, advertise, show the property to potential buyers and sell. In practice, to get the desired result, you need to know all the intricacies and nuances of the sale process as a whole. Even the slightest mistake on one of the sale stages can stop the whole thing and nullify the work you have done.
You can start the selling process on your own but if you come across an ad like “We buy houses in Houston” or something similar, do not rush to swipe. Perhaps the professionals will help you sell your home quickly and at a bargain price.
Types of US real estate
What the price of a home in America will depend on the specific type:
- Condominium. The most budget-friendly option. The building contains several apartments with a shared garage and utility area;
- Single-family home;
- Multi-family house;
- Cottage for several families, where each owner has a plot of land and a garage;
- House with no foundation (mobile). Can be transported by mounting the structure on wheels;
- Penthouse. A more expensive option, located in a multi-story building on one of the upper floors;
- Apartments. Located in multi-story buildings;
- Studios. This type does not have a separate sleeping room;
- A mobile home with built-in wheels.
Advertising and other marketing
In today’s realities, it’s very profitable to use resources that can draw attention to your property. Good marketing goes a long way toward not only bringing in customers but even making the product much more appealing to potential buyers.
Ways to sell:
- Multi Listing Service – A database in which realtors list everything they sell. A desirable and even mandatory place to advertise. MLS, in contrast to other resources reliable and trustworthy, contains a sufficient amount of information about real estate). A realtor can place a property in this database. Your property will automatically get into the mailing lists of buyers and realtors interested in similar proposals.
- Radio and newspaper ads. Sometimes works, especially if you’re selling in a particular community’s favorite spots. The disadvantages are the added costs;
- Open house. Open houses are good for engaging neighbors and nearby residents;
- Word of mouth and social media. Good and appropriate advertising in social networks (Facebook, Twitter) can bring unexpectedly quick results.
If you are looking for a professional team with extensive experience that helps sellers sell their properties without the hassle, Christian House Buyers is the solution to all your problems. Now let’s move on to some helpful tips to help you sell real estate in the US.
How do real estate investors avoid capital gains tax?
If you sell real estate that is not your primary residence, avoiding this tax will be more difficult. Here, you will be able to take advantage of Section 1031 Exchange of the Internal Revenue Code. You can sell one piece of property and buy another with that money and then treat it not as a sale but as an exchange transaction with no potential gain.
When to sell?
Depending on the circumstances, this question may not be as important, but there are certain seasons when it’s best to sell real estate. During the fall and winter, the number of transactions decreases; they increase in the spring and summer. There are times when stagnation is very strong, and then it makes sense to think about options such as “rent to own” or “land contract. The price situation on the market is very critical, and it is better to monitor it constantly.
How to prepare the property for sale?
The physical condition of the property is essential. How to sell AS IS or renovated one? There is no unequivocal answer, should help determine the professional. Many advise to make a complete rehab immediately, but to do so is certainly not worth it. But a small investment to create the attractiveness of the house/apartment can significantly reduce the sale’s timing and raise the price of real estate.
