3 Options for Selling Your Home
Is the Traditional Way Right For You?
Most homeowners looking to sell elect to go the traditional route meaning that they hire a real estate agent. There are many signs of a bad real estate agent, so if you do go this direction it’s important that you hire an experienced, proactive agent who understands the value of your home and can entice buyers with an accurate listing price. Homeowners often get a bit too ambitious and list their house at an unrealistic price resulting in the home sitting on the market for six months to a year while the homeowner is responsible for investing in repairs and upkeep to ensure the home looks presentable. The traditional way typically works best for homeowners with a desirable home in a nice neighborhood and plenty of extra money in the bank to wait for the ideal buyer.
Should You Transfer Your Home to a Family Member?
Another option for homeowners that are in a financially favorable position is to transfer their house to a family member or friend. Although the principle of transferring the ownership of a house to a loved one is very nice in theory, the joint ownership of a home can come with many long-term problems. This includes issues with income tax liability or if the new homeowner files for bankruptcy or goes through a divorce. If you are feeling charitable and decide to transfer your house to a loved one, consult an attorney to ensure that the transfer doesn’t cause you a great deal of problems down the road.
Should You Contact a Home Investor?
The great majority of people looking to sell their home will need the money they receive from the sale to reinvest in their new living situation. Many homeowners who are strapped for cash or own a fixer upper, would prefer to receive a fair, cash offer from a real estate investor and move on from their home fast. When you contact Quick Turn Properties, we help you simplify the home selling process.
Disclaimer: This website is not a substitute for legal advice. If you have a serious legal, tax, or other issue requiring professional advice, please consult with an attorney or CPA.