How To Sell Your House for Full Value in Fayetteville, NC
Are you trying to sell your house for full value in Fayetteville, NC and trying to get full value for your home?
Doing your best and only getting low balled?
Use these 3 quick tips to sell your house and get top dollar in your pocket!
Sell Your House For Full Value Tip #1: Know your target sale price
Easily the best thing you can do is just know what your house is worth. Don’t get caught up in just looking at what one property in your area sold for. Get multiple comps of your property.
Go on Zillow, filter by homes sold in the last 3 months, within 0.5 miles of your home, are within 10% of your home’s square footage (more or less), same beds and baths, same garage style.
Try to get at least 5 of these comps, determine the average price per square foot (PPSF), then multiply the PPSF by your home’s square foot. The number you come up with is your home’s market value… if it’s completely fixed up and no major issues. More on that in tip 3.
Sell Your House For Full Value Tip #2: Don’t be stubborn, Anchor well
One of the worst things you can do is pull the ol’ , “I don’t want to do the back and forth BS. I’ll tell you my number and if that’s good with you then great, if not then ok too.” This is not negotiation, this is just being stubborn.
If I come to you and say, “I can give you 100k for your house.” And you say, “My number is 150k.” I concede 20k and rise to 120k, then you stay at 150k. I concede another 5k to rise to 125k, and you still stay at 150k. At that point, I’m going to walk and leave you with your house, still in need to sell. If you repeat this process with other buyers, you’ll likely have the same result.
What kind of an impression do you think that makes? I can tell you now that in this market, there are dozens of other sellers willing to give a few bucks in exchange for other concessions outside price. Which leads to Tip 3
Sell Your House For Full Value Tip #3: Be Creative
Buying and selling houses is not like buying a car. You can negotiation anything. Here’s two creative financing options you can do:
Subject To / Loan Assumption – The buyer will take over your existing mortgage. Mortgage stays in your name, deed transfers to buyer. Super easy
Wrap / Seller Finance – How does passive income sound to you? You become the bank and the buyer makes monthly payments to you, the deed will transfer to the buyer. If the buyer defaults, you foreclose on them and take the property back. You’ll do a wrap if you still have a mortgage, and you’ll do seller finance if you own it free and clear.
Let’s use an example for a wrap deal. Your home is worth $200k, you owe $40k on your existing mortgage and make $450/monthly payments on it. You create a mortgage note between you and the buyer for $200k on a 30 year note, with a 10 year balloon (due in 10 years), making $800/monthly payments to you. So you net $350/month profit! This is a great option if you want to avoid a large lump sum tax bill for selling your home and don’t want to deal with banks.
Other concessions you can consider are that the buyers will buy as-is and you don’t have to make repairs. Maybe they pay cash and offer a quick close. Maybe the buyer catches you up on missed payments or evicts your non-paying tenants for you. Or maybe the buyer pays for your closing costs and/or moving costs.
Just know that if the buyer is willing to do provide a service for you or do one (or all) of these items, you should be willing to concede the value of that service on price.
Are you trying to sell your house for full value?
Hopefully you found these tips helpful and I hope you use them to put a few extra bucks in your pocket.
If you’ve been trying to sell your house and keep getting low-balled, fill out a form below and let’s see if we might be able to work something out!