Whether you’ve decided that you’re ready for a change or circumstances may be forcing you into the decision of selling your home to we buy houses Knoxville, take a moment to familiarize yourself with these 5 ways baby boomers can sell their homes in Knoxville.
Traditional Listings
Hiring a professional real estate agent to assist you in selling your home is one of the ways baby boomers can sell their homes in Knoxville. Listing your home as houses for sale in Knoxville, TN on the real estate market, in either the agent or owner listed market means that you’ll likely need to update the home on the interior and exterior. You will need to keep your home prepped and ready at all times because buyers will be coming through the property and the agent will put a lock box on the door. There will also be showings with both of these methods of selling, so you’ll need to consider living under the pressure that you may not have any offers. To top off the discomfort that can accompany showings, there is no guarantee that your home will actually sell on either market.
FSBO
For sale by owner (FSBO) is one of the ways baby boomers can sell their homes in Knoxville. Due to the time consuming and demanding nature of this undertaking, it is important to understand if this avenue of selling your house is right for you. While the attractiveness of calling East Tennessee cash home buyers for a fast sell is understandable, in that you’ll be keeping the commissions you would’ve paid to an agent. More often than not sellers regret entering this highly complicated transaction, making errors due to inexperience could end up being far more costly than any savings you may realize. You could even wind up in court due to your lack of awareness regarding the local, state, and federal laws governing real estate. It is difficult to enter into negotiations for yourself, especially due to your emotional attachment to your property. You’ll need to understand Tennessee home buyers and your competition because setting the right selling price can mean the difference between a quick sale to we buy houses Knoxville or sitting on the market for so long buyers begin to believe there’s an unseen problem with your home.
Owner Financing
While many boomers purchased larger luxury homes, these aren’t the homes today’s buyer is seeking. In order to open your property to a broader buying base, seller financing is another way baby boomers can sell their homes in Knoxville. Understandably, if you’re under a time crunch, this option may be more appealing, despite the risks you’re taking on. For many, becoming a landlord in retirement wasn’t the plan and while not the first choice, may be a viable option. You’ll need to enter this type of arrangement with your eyes wide open. Firstly, you’ll be dealing with buyers who likely weren’t able to secure traditional financing for a mortgage. While buyers are responsible for the property as if it were theirs, it’s highly possible that you could end up holding the property yet again and have to go through the process of finding yet another buyer.
Rent to Own
Another way to open your possibilities is to consider renting the home, with an option to buy after a specified period. While it’s not a guaranteed sale, it is yet another way baby boomers can sell their homes in Knoxville. Again, this has its risks as you’ll still be the one responsible for the property.
Direct Sale
One of the quickest ways baby boomers can sell their homes in Knoxville is through a direct sale, East Tennessee Home Buyers can purchase your home in a s little as seven days. Now, whether you list with a real estate agent or sell the home yourself as an FSBO, remember that the costs of advertising and getting your home ready for buyers will fall on you, along with all of the legal risks in the long run. It’s highly likely you’ve been in your home for more than a short term, and you aren’t selling a brand new property. Because you’ll need to have the home appraised and inspected as well, be prepared for unexpected expenses. it’s wise to get an appraisal when you’ve decided to sell your home. You’ll also need to consider the amount of time any project could take, costs for this work, as well as budgeting and carefully scheduling any professionals you’ll need to hire for any necessary repairs. In this way, you will have a more realistic accounting to rely on for the true potential of profit you could realize on your home as well as how long of a time period you’re facing just to be ready to sell. In a nutshell, selling directly eliminates any concerns about affording to sell or the amount of time it will take.
If you’re a baby boomer looking into ways to sell your home in Knoxville, the easiest and most convenient way to sell is by selling directly to East Tennessee Home Buyers LLC – no repairs needed, no showings and no commissions. Learn more about how we can help you by sending us a message or giving us a call at (865) 935-8680 today!