If you’re looking to sell your home, you’ve probably heard or read discouraging reports about the depressed economy and slow sales in today’s real estate market. The National Association of Realtors (NAR) reported that home sales declined by 19.9% from August 2021, with home sales recording a decline for seven consecutive months before that. While it’s true that there are fewer buyers than ever, that doesn’t mean sellers can’t get a fair offer on their homes. It simply means sellers must get more creative and proactive when selling their homes, so here are the top tips on landing a fair cash offer for your home.
Compare to Recently Sold Properties
The first step to getting a fair cash offer is figuring out what your home might fetch. You can do that by comparing it to similar recently sold properties in your area.
The rule of thumb is you should get at least 70% of the list price of your property. In short, if you were targeting $200,000, you should sell it for at least $140,000.
Get a Home Appraisal
Another excellent way to improve your chances of receiving a fair cash offer for your home is a home appraisal. An appraiser determines the market value of a house by comparing it to similar homes in the area.
It’s vital to contract an appraiser as they have the industry knowledge and will provide an unbiased professional opinion on the most likely price point of the property. That’s crucial for setting the ballpark price figure based on the property’s value, not how much you want.
Understand Market Conditions
It would be best to gain market insight into your local real estate market. Just because the national trend shows that real estate is on a decline doesn’t mean that is true in all areas of the country.
If anything, there are areas where prices are rising. Lowering the price of your home in such a case would be selling yourself short.
Look at Unsold Comparables
Homes that have been on the market for a long time can be great indicators of how not to price a house.
Check out unsold comparable properties in your neighborhood and see what price they currently list for. This will give you an idea of how much you need to lower the price to receive a fair cash offer for your home.
Hire a Real Estate Agent
Even if you think you know enough about real estate to sell on your own, consider hiring an experienced real estate agent.
Real estate agents have access to potential buyers, which can speed up the buying process. Since they earn a percentage of the purchase price, they will likely only settle for the highest purchase price possible.
Contact Next Level Home Buyers for a Fair Cash Offer for Your Home
If you’re not a fan of any of the tips above, head to Next Level Home Buyers (NLHB). We provide a Fair & Fast home-buying process, ensuring you receive a fair cash offer.
After you contact us, we will conduct a quick market analysis of your property and make an offer as soon as possible. You don’t even have to carry out costly repairs or renovations; we buy homes as is.
Should you accept the offer, choose the settlement date, and we’ll purchase the house. That means you’ll have all the cash within 24 hours after you sign the papers approving the sale.
Ready to sell your house? Contact us today or call us at 860-368-0343 to receive a fair cash offer for your home.
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