Why is selling a home so challenging for out-of-towners?
Are you a homeseller looking to sell your house from another town or state? Rehab and Flip, a Tampa real estate investment company, dives into the challenges and related expenses when out-of-towners try to sell their houses. The article also shares a simple solution to avoid these challenges and experience a hassle-free and swift sale.
Life can be unpredictable. And often it can uproot residents to another town or state within months. The usual reasons why home sellers need to sell their homes from a distance could be inheriting a house, becoming an executor of an estate, and relocating due to work, marriage, or divorce. These are life events that cannot be predicted and can often put homeowners in a tight spot.
1. Real estate agent’s commission
Imagine parting with 6% of your home’s final sale price or paying a hefty upfront fee. Homeowners residing in another town or state will need to hire a real estate agent to manage their sale process from a-z. The commission is not the only challenge. To hire a reliable and trustworthy real estate agent, home sellers will need to go through a couple of interview rounds with a few agents.
2. House preparation expenses
The expenditure while selling a house doesn't end at a real estate agent’s fee. Here are a few definite expenses that a home seller will need to make:
- Repair costs
As the pre-inspection report (another expense) arrives, the out-of-state owner will need to get any necessary repairs done before even listing the house on the market. Not only will they need to bear the cost of repairs such as dripping faucets, leaking roofs, and dents in the wall, out-of-state owners will definitely need to hire someone to manage these repairs.
- House clearance service cost
One of the reasons an out-of-state owner may get stuck with a home sale project is an inherited house. More often than not, such houses are packed with items that are of no value. To be able to repair and stage the house, home sellers would need to hire a junk clearing company to empty the house.
- Decoration cost
Homeowners often choose to decorate their houses to save costs. However, for out-of-state owners, traveling to decorate the house is not feasible or economical. Therefore, they need to hire a decorator. This may save a lot of time and effort but the expense will not be insignificant.
- Professional staging cost
A great sale offer demands a price. A staging event increases the likelihood of capturing a handsome offer. Out-of-state owners can hire professional stagers and take assistance from their agents to manage the event. This entails further expenses.
3. Miscellaneous expenses
Every home needs a regular investment for its upkeep. A vacant house can especially start disintegrating at a faster pace. This doesn’t help a homeowner in making a sale. Here are some of the expenses that are definite until the house is sold:
Vacant house insurance – A vacant house can be very prone to damage from fire, storms, and floods. Vandalism and theft are also big threats that homeowners must prepare for. House insurance that covers all these factors can allow out-of-state owners to sleep peacefully and avoid any losses.
Utility cost – Utility bills are a hidden holding cost that homeowners have to bear until the house is sold. Disconnecting the utilities is not an option since potential buyers would always test the functioning of these utilities during a showing.
Maintenance expense – A vacant home, especially an old one, needs constant maintenance to appeal to a prospective buyer. Landscaping, weeding, cleaning, and other such miscellaneous tasks are an additional expense.
These are the expenses that out-of-state owners have to bear while selling their houses. Accompanying these expenses are investments of time and energy in managing and instructing the property manager or real estate agent. Constant phones and emails can take up a lot of time and cause a lot of unnecessary stress to the seller. Out-of-state owners can avoid this hassle and expense altogether by working with a cash buyer like Rehab and Flip.
Why Rehab and Flip is the best bet for sellers and investors?
Rehab and Flip brings in great opportunities for home sellers and investors. It offers a simple and smooth buying and selling process. With its diverse experience in foreclosure properties, discount homes, investment homes for sale, bank-owned foreclosures, REO properties, distressed properties, and discount multi-family properties, it empowers home sellers to take care of their immediate needs and creates great opportunities for investors. Its team works hard to offer the best deals for clients and investors alike and even conducts custom searches to meet an investor’s criteria.