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What You Should Know About Selling a Co-Owned Property in Knoxville

Knowing the right steps when you sell a co-owned property can go along way in maintaining a partnership!
How will co-ownership affect you when it’s time to sell?

Purchasing property through co-ownership opens up the possibility of purchasing a property that might otherwise be out of reach. A co-ownership is an excellent way for close friends or family members to split the costs of a vacation property or several properties such as a beachfront property and a mountain home. 

Having a co-ownership also eliminates the need to recoup some of your expenses by renting out your second home to strangers. Ideally, you should discuss the exit strategy at the time of purchase to avoid any issues when it comes to selling your co-owned property. 

Read on if you’re a co-owner looking to sell a co-owned property in Knoxville as we discuss what you need to know. The purpose of this article is to provide information, not to provide financial or legal advice.

Listing

Let’s say it’s your intention to list your co-owned property on your own in Knoxville to save money on commissions. It is important to note that only about 11 percent of FSBO listings are successful. Professional photographers and stagers are usually included in the marketing expenses, whether you are selling yourself or with a real estate agent. It is also essential that you prepare and complete any repairs, as buyers prefer ready-to-move-in properties. Assume that you are not interested in investing the time, money, or effort in preparing the property. It is important for you to know that professionals like those at East Tennessee Home Buyers LLC purchase property in as-is condition for cash. Finally, suppose you are considering paying an agent’s commissions because you want to work with a professional to assist you with the sale. In that case, it is helpful to know that professional house buyers at East Tennessee Home Buyers LLC never charge commissions or brokers fees.

Title

In order to move forward with the process, it is essential to understand the ownership category of the property. You can gain a better understanding of the advantages, disadvantages, and considerations by working with professionals like those at East Tennessee Home Buyers LLC. East Tennessee Home Buyers LLC offers professional buyers a full-service in-house team of industry experts, including everything from attorneys to closing and title professionals from the Knoxville market. With East Tennessee Home Buyers LLC, you won’t have to pay any closing costs or other professional fees when you work with professional buyers. When you leave the closing table with the offer from your professional buyer from East Tennessee Home Buyers LLC, you’ll have that amount in hand. At East Tennessee Home Buyers LLC, we don’t pressure you into a sale, and if we believe it’s best in your circumstances, we’ll advise you to list with a licensed real estate agent.

East Tennessee Home Buyers LLC

You don’t have to worry about selling your co-owned property in Knoxville. You’ll know how much you’d earn if you listed against the offer from East Tennessee Home Buyers LLC, which you’ll agree is fair. Since East Tennessee Home Buyers LLC believes in total transparency, you’ll feel good about working with us long after the transaction is closed. We’re your neighbors here in Knoxville, and we’re proud of what we do. As cash-backed buyers, East Tennessee Home Buyers LLC can guarantee a closing date for you and the other owners, usually within a matter of days, or we can work out the time that works best for you. Our goal at East Tennessee Home Buyers LLC is to make selling a co-owned property in Knoxville as easy, convenient, and quick as possible. Call East Tennessee Home Buyers LLC at (865) 935-8680.

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