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When selling a house in the Twin City area, most people immediately think about hiring an agent and listing the property on the MLS. This is a great solution for many people, however, you should know there are other options available to you. There are many ways to sell a house! Consider your options to discover which selling method is right for you and your situation!

Sell Directly to A Professional Home Buyer

You can sell your house without using an agent, ultimately saving a ton of time and money depending on the situation. Minnesota Home Guys is a company that will buy your house using a straight-forward and simple process. With a direct sale, you won’t have to worry about commission, repairs, cleaning-up or waiting for a buyer to come along. You will immediately know the amount you are receiving as well as the closing date so you aren’t left in limbo, wondering when your house will sell.

Direct sales are becoming increasingly popular, however, not all buyers are the same. Make sure you do your homework on both the local market and the buyer you are working with. A direct sale may not offer full price, but for some people, the amount saved on repairs and wasted time more than makes up for the difference in price.

List Your Home With An Experienced Agent

Of course, listing your house is an option. Take the time to learn about everything that is involved and what will be expected of you. No two agents work exactly the same and there are no guarantees. Your property can be listed for any price, but there is no guarantee you will receive it. Watch out for agents who try to “wow” you with a high listing price. If it’s priced too high, it will likely sit on the market, possibly for months at a time. You will inevitably have to lower the price, while your property drops down the list of homes available on the MLS. If you decide to list, make sure your agent prices your home to sell. Not just setting a high price to convince you to sign a listing agreement.

Offer Seller Financing

This can work for some people who don’t need the cash from the home immediately. You can elect to carry the note setting up a “rent-to-own” structure. Your tenant will “rent” the property at a higher than average price, with some of the money going toward a down payment on the home. They will then have the option to buy the property outright at the end of a certain period of time, typically around 2 years.

Consider Your Other Options

If selling simply isn’t in the cards and you need to move, there are other options. You can rent the house out as either a short or long term rental. The trouble with this can be finding great tenants and retaining them for as long as possible. Renters can be quite nomadic, and tenant turnover can cost you dearly. If you haven’t done this in the past, consider hiring a property manager to help you keep everything in order.

Do you want to sell your house in the Twin City area? Find out what we can do for you! Send us a message or give us a call today! (952) 649-3200

The price to sell a house in Minneapolis can fluctuate greatly. It all comes down to the house itself, the needed repairs, the location, etc. Each agent will work a bit differently. Some will charge you for things, while others are “all-inclusive.” Before you commit to an agreement, find out what listing your house in Minneapolis will really cost you!

Upfront Costs

Cleaning

To create an environment that is appealing and welcoming, you will want to make sure the house is clean. You can do a good job yourself, but bringing in a professional to do a thorough cleaning of the house from top to bottom, can make the whole house look different. If you aren’t replacing the carpets or flooring, you will want to pay to have a professional clean those as well. Don’t neglect the outside. If you have a second story, it might pay off to hire a pro to come wash your windows!

Storage

Packing away all of your unnecessary items can be time consuming and just a pain. Personal possessions and clutter will not appeal to potential buyers. Having your items stored away will allow buyers a chance to envision themselves in the house. However, depending on how much you have, you may need to rent an offsite storage space or pod to hold your items, costing you money until you can move into your new home.

Repairs & Upgrades

Fixing and painting walls, replacing cracked tiles and smoothing floorboards are just the start of what may be a lengthy repair process when getting your home prepared to sell. You might also take this opportunity to make minor upgrades such as new fixtures or hardware. Spending money on these things can help improve the value of your home. You just need to be comfortable paying up front.

Landscaping

The front yard is the first thing people see. First impressions are everything when it comes to showings. If potential buyers pull into the driveway and see an ugly yard, it will leave a sour taste in their mouth before they even step into the door. Adding plants, flowers, new doors or fencing can help add a little curb appeal to your property.

While The House Is Listed

While the property is on the market, you will still find yourself paying to have it for sale. There are many expenses you will be paying during this time that you could avoid with a fast and direct sale upfront.

Monthly Costs

Even if you have moved out of the house, you still need to keep the water and electricity on for people viewing the home. You will also have to continue paying the homeowner’s insurance and property taxes up until the day of closing. You will also need to continue taking care of the cleaning and routine maintenance of the home. With many properties sitting on the market then having to go through escrow, it could be months until the house has officially closed. During this time, you could be out thousands of dollars you could have otherwise kept in your pocket.

Marketing

Professional photos, including drone shots that capture the home from all angles can be even more money out of your pocket. To successfully list your house, you will want to ensure there are great listings and great photography of the home. You will also need to stay on top of your agent marketing wise. Are they posting the listing on social media? In the papers? In real estate groups? Some agents are great when it comes to marketing, but you need to make sure they are posting your listing on every avenue possible to get the word out.

After An Offer Has Been Made

Once an offer has been made, and accepted, you will still be responsible for the insurance, utilities, and taxes up until the day of closing. Depending on the lender this could add several weeks to your time-frame. In turn, adding more money you are paying to own the home. Most offers are contingent on an inspection and appraisal process. You can avoid the below costs with a direct offer from a company who purchases as-is.

Negotiated Repairs

An inspection is required before the house and sold and if there is a major problem with the house, the potential buyer will likely request it be fixed before going through with the sale. (The bank isn’t likely to fund a loan for a damaged property either.) If your buyer decides to rescind the offer, you will need to disclose the needed repair to all potential buyers going forward.

At The Closing Table

Commissions

Once you are signing final sale paperwork, it is also time to sign over a check to your agent. This will typically run about 6% of the final sale price of the home.

Closing Costs

Many additional fees are lumped together as closing costs. These include document filing, title search fees, credit check costs, transfer taxes, property taxes and more. On average, this will run you another 2% of your final sale price.

Once you add up all the costs, you can see that listing may not be right for every property. Many people find greater benefits by choosing a direct sale! Run the numbers for yourself, and make the decision that works best for you!

Interested in selling without the traditional listing costs? We can help! Send us a message or give us a call today! (952) 649-3200

For the month of January, Minnesota Home of Guys has chosen to donate 5% of all closing costs in every deal we make to the Military Warriors Support Foundation. The Military Warriors Support Foundation is a non-profit charity found by LTG. Their mission is to provide support and programs that facilitate a smooth and successful transition for our wounded heroes and Gold Star families. While it can be a difficult process for many, the Military Warriors Support Foundation offers a wide variety of programs that focus on things such as housing and homeownership, employment, recreational activities, and transportation assistance.

Through their Home4WoundedHeroes program, the foundation awards 100% mortgage-free homes to combat wounded veterans and Gold Star spouses of heroes who have fallen in combat. Also, each family receives three years of family and financial mentoring so that they can learn the skills necessary to become successful homeowners

Their Skills4Life program the foundation offers different recreational programs such as golf outings, as well as hunting and fishing trips. This program gives families an opportunity to bond and develop relationships with mentors and fellow heroes in the great outdoors.

Being in the real estate industry, this really hits home to us and we couldn’t be happier to back a foundation that gives homes to our nation’s heroes. With one of our owners, James Kolde spending time overseas in Iraq and Afghanistan as a civilian firefighter our goal is to give back to those that make the ultimate sacrifice for our country. If you would like to make a donation to the foundation, or learn more about it and how you can get involved, please head over to militarywarriors.org.