It’s no secret that the real estate market in South Florida is getting hotter and hotter as the months go by. But more and more homeowners everyday are exploring the newer creative ways to sell their Miami house fast in an effort to increase their profits and lower the hassles. Many have been responding to “we buy houses miami” ads.
Are you looking to sell your Miami home? Selling a house is one of the hardest things for many people to do, especially because the traditional route of listing with a realtor is sometimes easier said than done. From making repairs, cleaning the house, holding open houses, showings and paying bills to moving and other mini-missions, selling a home can be a daunting task. Fortunately, there are a few more attractive alternative ways to sell a house in Miami that are becoming more common and increasingly popular among the sellers in todays Florida real estate market. It’s a good idea to make sure to explore each of them so that you can choose a method that best suits your unique needs.
One popular option among sellers is Rent-To-Own. It’s one of the best and most efficient ways of getting your house in front of double the amount of potential buyers. The rent to own structure almost guarantees that you’ll get the full retail market value of your home, sometimes even more. This is because rent-to-own buyers pay a higher price per month in rent than the average comparable rental for the purpose of putting that extra monthly amount towards the purchase price of the home at the end of the agreed term, usually 1 year. This is in addition to a lump sum down payment from the buyer to the seller at the start of the rental term. At the end of the agreed period, usually one year, the buyer will be expected to qualify for a mortgage and buy the house outright for the remaining balance. However, if your rent-to-own tenant decides not to buy the property or simply cant qualify to buy the property at the end of the agreed upon term, you can redo the entire process and get another lump sum down payment plus the above market rent every month. A lot of these potential rent-to-own home buyers are people who have been looking to buy a house, but failed to meet the requirements for a mortgage due to minor issues on their credit records from the past, insufficient money to post a down payment, or they already have another mortgage on another property, so most of the rent-to-own tenants do not end up buying the house at the end of the term.
Hold As Rental Property
Another great way to earn revenue from your house if you are unable to sell it the traditional way is through holding it as a rental property. Being a landlord can be tedious in some situations, or hassle-free, especially if you thoroughly screen your tenants to rent out to only low maintenance ones.
If you find being a landlord to be too much work, consider hiring a property management company to aid with rent collection and routine maintenance. For many homeowners, renting a property is one of the best ways to secure extra income.
Selling your home to a direct investor or buyer
The other option I had to sell my house fast Miami was through a direct sale to a home buyer or investors. A direct sale to an investor is one of the fastest processes of selling your home. This method saves you a lot of pocket costs that most sellers encounter when listing. For instance, you will not have to incur listing agent fees, make repairs to your home or clean it up. Most direct buyers often pay in cash and can close without depending on a bank for funding. If you decide to sell your property directly, make sure you go through the fine print thoroughly and that all the terms stated are amenable to you. Remember, there will be no professional to help you throughout the transaction, and all decisions will depend on you.
Most people in Miami are opting for auction services to help them sell their homes fast. Auctioning offers a fast and hassle-free alternative to the traditional ways of selling a house through the listing. If you opt for the auction service, seek for a person or a site that can generate maximum buzz around your property through aggressively marketing it either through social media, online advertising, print, extensive signage, telemarketing, among other advertising channels.
The primary goal when auctioning your house is to draw a lot of attention to your property and encourage purchasers to outbid each other. An auction service is an excellent alternative to listing your home, especially if you have a definite date.
Selling your home fast saves you thousands compared to a listing. Houses sold through auction are sold as is, and the buyer cannot ask you to make any additional changes to the property, saving you money you would have spent on renovation. Also, if you factor in property taxes, homeowners insurance and mortgage payment, you will see just how keeping a house that is not income generating costs you money.