Let us help you out.
So you’ve decided to sell, or maybe just considering selling your Colorado Springs house. Do you have an inherited property that is a vacant house or a rental property? Is it free and clear or is there a mortgage still attached? At Colorado Home Trust, LLC we have seen them all.
You want to know how much you can sell your property for or are asking yourself, “how much is my house worth?” It depends!
If you would like to sell now or sell fast, that generally means you want to cut through the red tape and just sell quickly for cash. Maybe you are the executor or personal representative for an estate and are looking at your options, maybe you are an estate attorney looking for an expedient solution to liquidate an estate property to pay for necessary legal and administrative expenses. For a fast sale, ideally you will be able to sacrifice a bit of equity for the speed and convenience of the sale of the home, but if you want to sell quickly and still get top dollar there are additional strategies that we can discuss that will give your more net dollars, but require additional time and effort on your part.
But first, let’s discuss a cash offer for your home.
When you are considering a quick sale or want to sell your Colorado home fast, you must realize that you will probably be asking a professional home buyer to evaluate your property in order to make a cash offer on your home. The “We Buy Houses” or “We Buy Ugly Houses” crowd will probably be your first choice. Most of these professionals are experienced home buyers and are very familiar with evaluating a house with an eye to purchasing correctly for cash in order to rehabilitate or “rehab” the property and bringing the property back to market as a renovated property.
They are part of a network of real estate professionals which include investors, private lenders, as well as reputable contractors who will eventually help them renovate the property to retail standards. If your property needs extensive repairs because of it’s current condition, the cash buyer will have to take precautions to allow enough room in the “deal” to make a modest profit.
As a rule of thumb, even the most experienced investors will have to account for 10% resale costs, 10% funding costs, as well 20-30% for all repairs needed for getting the property “Ready for Prime Time” or introduction to the retail market place again.
Considering all the variables, it’s easy to understand why a cash offer must include these risks and costs from the beginning. Once the numbers have been crunched, a typical investor can close very quickly, often on a date of your choice. They can do this because of their relationship with a group of professional local private lenders who specialize in originating secured real estate backed loans to investors.
On the other hand, you may want to contact a Realtor to find out how much your home is worth.
Realtors are in the business of representing or listing your property for a fee. Many are quite experienced at evaluating your home from the perspective of a listing agent. They do this by researching the Multiple Listing Service (MLS) in order to evaluate comparable sales to your property. Generally speaking they do not invest anything other than their experience and time in order to sell your home. Many of their clients are first time home buyers who may or may not be qualified to purchase the house even after placing an offer. The most experienced Realtors have been around long enough to have their clients qualified before shopping, but still are NOT the buyer for your property. They must wait for the RIGHT client at the RIGHT time with the RIGHT credentials to purchase your property.
This could take a while.
Colorado Home Trust can quickly evaluate your property and purchase your property for cash usually on a date of your choice. After a quick inspection and market analysis, we will know how much your home is worth to a professional home buyer. Consider the value of receiving a guaranteed cash offer for your property and close on a date of your choice. It doesn’t get any easier than that!
What is My House Worth? Let’s Crunch Numbers (719) 203-9500