Whether you’ve decided that you’re ready for a change or circumstances may be forcing you into the decision to sell your home, take a moment to familiarize yourself with these 5 ways baby boomers can sell their homes in Orlando.
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 Orlando. Listing your home 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. There will also be showings with both of these methods of selling, so you’ll need to consider living under the pressure of having your home picture perfect at all times. In addition, you will have a constant stream of people in and out of your house, which can be risky with the current situation we are all living in. To top off the discomfort that can accompany showings, there is no guarantee that your home will actually sell on either market.
For sale by owner (FSBO) is one of the ways baby boomers can sell their homes in Orlando. 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 this method of selling 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 important to fully understand the legal paperwork that accompanies a retail sale and to work with a good attorney or title agent. It is difficult to enter into negotiations for yourself, especially due to your emotional attachment to your property. In addition, you’ve never been to negotiating school so it’s not something that may be in your wheelhouse. You’ll need to understand the current market and your competition because setting the right selling price can mean the difference between a quick sale and sit on the market for so long buyers begin to believe there’s an unseen problem with your home. Historically, FSBO homes are overpriced by the owner, so many realtors and buyers pass on them when reviewing properties.
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 Orlando. 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 and with the right paperowrk! First, 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. However, this strategy can have it’s tax advantages and provide you with additional, steady income on a monthly basis.
Rent to Own
Another way to open your possibilities is to consider renting the home, with an option to buy after a specified period. Again, make sure you have all of the correct paperwork and have a full understanding of it and what you are entering into. While it’s not a guaranteed sale, it is yet another way baby boomers can sell their homes in Orlando. Again, this has its risks as you’ll still be the one responsible for the property. But, as opposed with owner financing, you will get a sum of money on the front end before the monthly payments start rolling in.
One of the quickest ways baby boomers can sell their homes in Orlando is through a direct sale, usually, the process is complete within a matter of weeks (or months – depending on your need). 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. 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 a nutshell, selling directly eliminates all of the concerns about affording to do the repairs needed for top dollar or the amount of time it will take. We take care of the hassle, you move on to your next best adventure!
If you’re a baby boomer looking into ways to sell your home in Orlando, the easiest and most convenient way to sell is by selling directly to Angie Buys Houses Central Florida – 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 (407) 512-9526 today!