The process of selling your house can get expensive. There are a lot of things that need to happen before even listing your house in order to sell it. I have put together a list of some of the alternative options you have, and ways you can save money selling your house in Boise. Hopefully this advice will help you keep more of your hard-earned money.
A “for sale by owner” listing or FSBO can be a great choice for some properties and situations. It can save you money and put you in control of the entire process. This can be a double-edged sword. On one hand, you’ll save on the commission costs and other agent expenses, but you will also be the one doing all the work. Answering questions, showing the property, marketing the house, and handling the paperwork will all be up to you. It can be a lot of work, especially for those without a real estate background. I don’t generally recommend this route, as you will probably end up keeping the property much longer than you want to, then end up losing the extra money you made in the holding costs of the house. In most cases, a for sale by owner can be risky and should only be handled by a pro.
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If you decide to hire a Boise real estate agent to help you sell your home, find out up front what your costs will look like. Make sure you know what is included with your listing agreement so you aren’t hit with surprise marketing fees or administrative costs after the fact. Try to negotiate your commission to a lower rate if possible. There might be a hungry agent out there, confident they will be able to sell your house quickly, so they won’t mind the lower commission. A word of caution when choosing an agent. I typically recommend using a good agent if you are going to sell your house in the traditional method. While any agent may give you a discount on the commission, they make end up losing you money by not being a strong negotiator, or by taking a long time to actually sell.
Instead of spending your time and money updating an old kitchen before selling the house, consider offering buyers a credit towards making renovations of their own. Not only will they appreciate the funds, but they will likely enjoy the fact that they are able to pick their own finishes and design things as they wish. Remember, taste is subjective, and not everyone will agree with the things you like. When you spend a fortune on renovations, you run the risk of putting off some buyers who may have been interested otherwise. Plus, construction costs can add up to more than the original estimates. If you choose to make the upgrades on your own, you run the risk of going over budget. The downside to credits, is that your house is going to be less appealing to the majority of the people that look at it. In most cases people want to have a special feeling of “being home” when they walk into the house.
Look for opportunities to save some money if you are listing it with a realtor. Do you have a great camera? Maybe you consider taking the listing photos on your own instead of paying hundreds or thousands to a photographer. Or maybe you have a drone you could use to take some shots of your property from the air. You could also choose to throw an open house, post your own signs, or handle your online listings if it will mean a decrease in your commission costs. Keep in mind that everything you do isn’t actually “Free” – here, you will be trading your time and energy for money.
In this case you are listing the property in a traditional way, however, you state that it may need some repairs, and that you are not going to do them. While it may not be pretty, selling your house as-is can save you a fortune on repairs and upgrades. You won’t have to deal with any costs or expenses getting it ready for the MLS. There are many investors out there who are looking for a house they can renovate for a profit. These buyers can act quickly and help you avoid repair costs, commissions, wasted time, and other agent fees. There are other buyers looking for a home of their own. They are willing to take on a house that needs some work in order to receive a lower final sale price.
The longer it takes to sell a house, the more it costs you. Holding costs add up month after month and can amount to thousands if your house sits on the market for a while. Utilities, homeowners insurance, property taxes, cleaning costs, repairs, regular maintenance, staging, and landscaping will add up quickly. When you sell your house directly to Dynamic Property Solutions, the entire process of selling can be completed in only a week or two. For many sellers in the Boise area, a direct sale can ultimately be the most stress-free and simple solution. Before you decide to list or spend any money making repairs, let us help you determine which selling method will ultimately suit your needs. Sometimes it is with us, other times it isn’t.