TEST THE MARKET
Listing your home with a realtor is often the first (and only) thing people think about when considering whether to sell. While it is still the most popular option, it isn't always the most efficient.
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Depending on your situation, selling on the market might be the most stressful option, but it also might net you the most money.
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We're here to help you determine if it's the best option for you.
EVERY SITUATION IS DIFFERENT
When we analyze the market, and provide a valuation for your home, there are many different factors to consider. Location, condition, and timing are all things that influence price. Investors also use the same factors when determining their cash offers. We will present you with a market analysis showing you exactly why we came up with our valuation, as well as how long we think it might take to sell.
We present all the numbers in an easy way to compare. That way you can factor all the numbers with your unique wants/needs to make the best decision for YOU. Below are a few scenarios to consider.
Scenario 1 - Client A
Based on the side-by-side comparison above, Client A has 3 cash offers and a "go-to-market" valuation. Each investor has a different offer, as well as different fees/costs. In the end, the most important line to consider in regards to money, is the last line - NET PROCEEDS. Although we can only estimate some of the costs, and repair costs are still to be determined, we can see that selling on the market will net the most amount of money. If no repairs are needed or are equal, Client A would make about $7,500 more than taking a cash offer now.
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BUT - Client A has a unique circumstance. They just accepted a job offer in another state and need to move as soon as possible. Money is not the only factor to consider. They need to close on the house in order to purchase a new one.
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While we do our best to help predict how long it might take to sell your home, unfortunately it is never certain. If Client A tests the market and it takes 30 to 45 days to get an accepted offer, and it takes about 45 days to close (which is standard these days), Client A will close in 3 months.
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His decision came down to whether or not $7,500 was worth waiting 90 days, opening his home to showings, and stressing about whether or not the buyer's financing would go through.
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Scenario 2 - Client B
Due to the location and condition of the home, Client B only received one "corporate" investor offer and one "local" investor offer. Again in this scenario, testing the market appeared to net the seller the most money by about $9,000.
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Unlike Client A, Client B was not in a hurry to sell. Being on the market for 3 months, or even more, did not bother him. They did not owe any money on the house. They planned to use the proceeds to purchase a smaller home in full, and use the rest of the money for medical bills.
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Although Client B was not in a rush to sell, the wife had poor health. They were concerned about opening the home to multiple showings and constantly being required to leave the home for potential buyers to view it. They had to decide if the extra $9,000 was worth it to be subjected to all the possible showings.
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Client B decided the $9,000 would really help with medical bills and decided to list the home on the market. However, they decided they did not want to subject the wife to showings for a prolonged period of time. So, we went to both investor offers and asked if they would be willing to make the same offer in 30 days if the home had not sold. "Corporate" Investor A's offer expired 7 days after the initial offer and could not guarantee they would still be interested in 30 days. The "Local" investor was interested and agreed to buy the home for the offered price if it did not sell on the market.
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In the end, Client B's home sold on the market in less than 30 days. Due to closing costs being less than projected, their net proceeds were $247,400.
FREE MARKET VALUATION
Each of our clients receives a FREE Comparative Market Analysis (CMA) to help them understand the current value of their home. Each CMA shows a list of comparable homes that have recently sold in the area, as well as a look at active and pending listings. The CMA helps us understand not only how much the home might be able to sell for, but also how long it might be on the market, differences in conditions and whether or not seller concessions were needed.
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We want you to have a clear understanding of how your home will perform on the market, should you decide to choose that option.
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