Does Your Gut Say, “I NEED to Sell My Cape Coral House Fast” and You’re Not Sure What To Do?
If you are thinking, “I need to sell my Cape Coral house fast, but I’m not sure what to do or expect” then this is for you!
There are many reasons that property owners need to quickly sell their property. Here are some typical ones:
- Job relocation
- Unwanted inherited property
- Paying 2 mortgages
- Tenant destruction
- Fire damage
- Hurricane damage
- Death in the family
- Second home no longer needed
- Disrepair and no budget to fix it up
We deal with these types of situations on a daily basis. In this post, we’ll go over a few options that you may have to alleviate some of the pain of dealing with the stress of the need to sell your property quickly. Three of the main options at your disposal are:
- Getting a Realtor to list it for you
- Renting it out
- Selling to an investment professional
Each method has its own pros and cons. Let’s discuss them here and hopefully provide you with enough information to make an informed decision about the best way to solve the, “I NEED to sell my Cape Coral house FAST!!!!” problem.
Getting a Realtor to List it for You
Selling through a Realtor is a very intelligent way to make sure that you are able to maximize the sales price on your property. A competent Realtor is knowledgeable about the market that she works in, is quick to point out any potential hiccups that could incur with the sale, and will have the ability to showcase your property on the Multiple Listing Service (MLS), which is where all of the local real estate agents go to find good properties for their clients to purchase.
You’ll want to take some time to ensure that the Realtor that you hire is the best one for the job. Realtors specialize in specific cities and even further in specific areas of that city, or neighborhood. Ensure that the Realtor that you hire has a majority of their listings in Cape Coral and in the specific neighborhood that your property resides. If you see that a majority of their listings are scattered all across the area, or worse, that they have 0 current listings, you may want to look elsewhere for a professional.
Further, look at the current listings that they have for sale. Are the pictures full and vibrant (signifying that they hire a professional photographer for your property) or do they they look like they were shot with a cellphone camera? Are their listing descriptions creative and original OR are they filled with spelling and grammatical errors (I’ve even seen some that didn’t have any description at all!)? These indicators will help you to figure out if this Realtor is the right one for you.
Just like any big decision, selling with a Realtor does have its cons, regardless of how great the Realtor herself is. First, you’ll be required to make any necessary renovations to the property to get it “market ready”. If you have an older property, this may mean updating the kitchen, bathrooms, and flooring, making any necessary repairs to the roof (including replacement if 15 years or older and shingled with asphalt), air conditioning, electrical, and plumbing. This could easily reach $25,000-35,000. Depending on the size and neighborhood that the property is located in, that could be the budget for the kitchen update alone!
Second, regardless of how great the Realtor is, selling on the MLS with other agents and buyers involved can take much longer than other options. Typically, a property can be listed (especially at the wrong price) for several months before an offer is accepted. Once the offer is accepted, it can be another 45-60 days before the sale even takes place! And, if the buyer has a snag in obtaining financing, you’ll be back to square one and the clock will start over again!
Third, regardless of how great the Realtor is, she doesn’t control the market. A longer exposure to the market could increase your chances of the property going DOWN in value! After spending all of that money on making those repairs, it’d be an awful feeling to see all of that repair money go down the drain!
Last, selling with a Realtor is the most expensive option. Typically, a Realtor’s commission will run 6% of the sale’s price of the property. For a $200,000 property, that would be $12,000!!!
Rent it Out!
One of the smartest and best options for building wealth is renting your property out. When you rent your property out, you have the opportunity to make a small monthly income, while a tenant pays for all of your expenses! While it is never a good idea to consider the upward potential value of the property over the long-term (due to market fluctuations), as your main goal, receiving a great return on your equity while enjoying a POSSIBLE increase in value is a smart way to eliminate the stress related to the need to “sell my Cape Coral house fast”. The caveat here is that you will absolutely need a competent, trust worthy, management company to handle the management of the property!
The cons can be numerous for this strategy. First, while it won’t be as expensive to do, you’ll still need to make repairs and update to other local rental properties. Here is a list of others that you’ll need to consider:
- It’ll be necessary to hire a competent management company to manage the tenant interactions and maintenance of the property. (Give us a call if you need a recommendation)
- Finding a tenant to fill your vacancy will cost you $1200+ in the current market. This could hurt if you have already fixed the place up or are struggling financially already
- While you will hold a security deposit, tenants can do A LOT of damage to a property causing thousands of dollars in repairs that you will have to take out of pocket
- If you live outside of the area, you will be putting a lot of trust in the management company to manage the property for you. We always suggest that you “Manage the Manager” and check to ensure that they are doing what they say they are.
- It gets VERY frustrating when a tenant decides that they don’t have to pay you rent anymore and you have to spend thousands of dollars to kick them out and then fix the property back up to get ready for the next tenant!!!
Selling to an Investment Professional (Like Us!)
One often overlooked option for relieving the internal pressure from the “I NEED to sell my Cape Coral house fast”, internal dialogue, is to sell to a competent real estate investment professional (Like US!). With an investor, you will receive a fair offer, you won’t pay any real estate commissions, they’ll cover most or all of the closing costs, you will not need to make any costly repairs or updates, you won’t have to deal with tenants, and in most cases you can close and receive your cash in as little as 10 days (or 30, 60, 90 if you need more time)!
When we say professional, we MEAN professional! Watch out for “investors” that use very little earnest deposit to secure your property. Make sure to ask them for a proof of funds. If they say that they are going to buy your house cash, ask them for a letter or bank statement that shows that they have the funds available BEFORE accepting their offer. If they give you an excuse or pretend like they are insulted, RUN!!!
Also, make sure that they have a website that looks professional and that has been registered for several years. Finally, do some research online and make sure that their are no complaints against them with the Better Business Bureau (BBB – https://www.bbb.org)!
There are cons to this strategy as well. While fair and relevant, there are trade-offs for every method on this list and this is no exception:
- Though you will typically get your property sold a full 5-6 months earlier, in most instances, it will not be as much as selling through a Realtor
Solving the “I NEED to sell my Cape Coral hose fast!” Problem
If you would like to see what benefits an investor could provide for you, feel free to fill out the form below and we’ll contact you right away to go over a great solution custom fit to your situation!