Moving out of state & want to sell our house as-is. How can we get an as is price that will sell our house. Are cash offer businesses worth?

Asked by Ashevilletom, Laila Park Estates, West Melbourne, FL Wed Aug 10, 2011

checking? 2 rms are unfinished & need finishing (paint, doors, fixtures). House has 20x40 bldg and metal 21x21 carport.

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Jeanne Feeni…, Agent, Basking Ridge, NJ
Mon Feb 27, 2012
Smart pricing and explosive exposure will get the job done - you'll get both from a very good agent.

And I completely agree to avoid the mistake of overpricing - you will net more, not less, if you price right from the start.

Good luck to you!
Jeanne Feenick
Unwavering Commitment to Service, Unsurpassed Results
0 votes
Mary Lynn Mc…, Agent, 30546, GA
Mon Feb 27, 2012
It would be best to check all of your options. But make sure to use the most powerful and knowledgeable tool you have - your local Agent! You need a local Agent to do a CMA (Comparable Market Analysis) for you which has three solds and three actives in the past six months to assess the current value with it unfinished. Your tax appraisal can be an estimate, but most of the tax appraisals are not accurate for this market. If you get a cash buyer, you won't have any problems with a lender, but a cash buyer will still want an appraisal - that's why you need a Local Realtor to give you an accurate price that will be as close as possible to what it would appraise for. If you get a buyer who has to get a loan, many lenders require that the house is completely finished (down to floors and doors and fixtures) before they will close on the loan. There are many ways to work with this situation, but you need to have an Agent who has a fiduciary responsibility to watch our for your best interest which is to sell your house, but not literally give it away. Best of luck! I am licensed in North Carolina as well as Georgia and I live right on Hwy 66 just over the line from Warne, if you want help. There is no shortage of Agents to help you - you have your choice! Investigate like you're doing and you'll make the right decisions.
0 votes
Ron Thomas, Agent, Fresno, CA
Wed Aug 10, 2011
We get statistics every so ofter showing how much more the homes get with a Realtor, and opposed to without a Realtors: it is significant, something like 8%.

You just want to come up with a low Listing price:

Understand that the LISTING PRICE has one primary objective, to attract attention: It is not intended to be set in stone, and in many cases it is not even a good guideline toward the SELLING PRICE.

Some Sellers believe that by setting the LISTING PRICE high, they can always come down, and people will make an offer anyway: WRONG! Buyers will just bypass the property and look at houses that are within their price range. And six months from now, the Seller will slowly start lowering the PRICE, (this is called “chasing the curve”) and Buyers will be asking the question; “What’s wrong with that house?” and “Why has it been on the Market so long?”

Other Sellers set the LISTING PRICE low, to attract multiple offers. (The correct strategy.) We are asked; “Aren’t you obligated to sell at this price if someone offers it?” The answer is probably not; for that to happen, you would first have to have only one offer, and secondly, the offer would have be exactly the same, down to the smallest detail, (please discuss this with your Realtor).
Another thought; Buyer will search for potential properties by groups; for example, $400,000 to $450,000, and $250,000 to $300,000. If your house is priced at $460,000 or $310,000, the Buyers will never see it. (something else to discuss with your Agent.)

We have found that extremely often, the LISTING PRICE that is set on SHORTSALES and REO’s are not determined, nor even discussed with the Bank: The banks play their cards very close to the vest, they will not tell the Listing Agents any more than they have to; they will not give us their lower limits. So usually, the LISTING PRICE on a distressed property is a number taken out of the air.

If you are considering a property, have a Realtor do a CMA, (Comparative Market Analysis) to help you determine your Offering Price. If you look at enough CMA’s, you will see the trends.

Good luck and may God bless
0 votes
Michael Emery, , Minneapolis, MN
Wed Aug 10, 2011
You would be better off listing with an agent - even at a reduced price - as the "we buy homes" businesses tend to pay less than a buyer in the open market. Even with agent fees you would probably come out ahead.

One thing you can do that won't cost you a dime is to contact a real estate agent in your area for a "Competitive Market Analysis" of the value of your home. Tell them you want a price that will SELL your home. Then you can go to the 'we buy homes' folks and see if they will come close to that value. And if not, hire an agent.
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