I am not a lawyer, this is just my opinion. My vote is to write up a seller financed loan. Basically your option number 1. You purchase the property, then resell it to your mother as a seller financed loan. Have a title company work out the paperwork, probably can close and resell all on the same day if you intend to buy a house with cash. Wouldn't hurt to speak to a property lawyer...... more
Many of the agents below have good advice.... some of it is a little harsh! Everyone loves saving money, so it is very understandable why some sellers want to try selling their home themselves. The scary thing is, how do you know you can trust the buyers? How do the buyers know they can trust you? Once you figure out how to sell your home, who do you call if there are issues throughout the home buying/selling process? I have a Broker and legal council on my side, do you?
Bottom line is, to sell your home people need to be able to see it. There are thousands of agents out there fighting for you when you hire just ONE. At my office, we handle all the marketing in newspapers, mailers, flyers, online advertising and more. Strategies that could easily cost you much more than the â€œcommissionâ€ the agent would receive. Remember, too, that the poor agent you choose will only get paid if he/she sells your home! I fight for my clients just as hard as if it were me selling my home â€“ Thatâ€™s how I get paid! If I donâ€™t sell your home, I do not get paid, no matter how much money I or my company spends.
In addition, this is a really tough market. Many buyers out there are waiting for that â€œdeal-of-a-lifetimeâ€. If the home is not in mint condition or practically free, they seem to want to wait it out. How are you going to convince your buyers that your home is actually worth what you are selling it for? Are you going to pay for an appraisal? Print out all the quotes from random websites you find? What happens when the numbers donâ€™t match up? How will you explain that? Ask yourself, will buyers believe my price I decided on or what a professional would know based on in depth research and experience?
At the end of the day, you should ask yourself two questions: 1. What is the most important thing to you in this transaction? 2. How much time, work, and effort are you willing to put forward knowing there is no guarantee you will actually sell your home yourself with only word of mouth from a few friends and family?
I do wish you the very best!
I and my company know and understand the Festus area very well. Please feel free to contact me at anytime if I can be of further assistance.... more
Kari I am an agent in the Festus area my name is Cathie Fears. If you do not have an agent that you are working with I will be happy to assist you in your seach. Please feel free to call or email me at Cathie Fears 313-306-7303 or firstname.lastname@example.org... more