How To Perform A Quick Sale Transaction On Your Colorado House
Many homeowners these days are finding it extremely difficult to list and sell a property on the open market through a licensed real estate agent, despite the fact that it’s a wonderful time to be a seller in Colorado. The reason is mainly due to the fact that there are a lot of people who value their time more these days, and these folks would much rather choose to do a quick sale transaction on their home instead of waiting around for months while an agent shows the property to prospective buyers. On top of being forced to wait potentially months for the home to sell, you will also be responsible for making any necessary upgrades to the property and then pay 6% commissions on the sale when it finally ends up going through.
On top of paying six percent commissions on the final sale of the home, you will also be responsible for paying the listing fees to get the house on the market. Then, you will be faced with the dreaded “inspection objection” and “inspection resolution” periods which can delay the closing of your deal for weeks or even months in certain cases. This is the main reason why a lot of sellers are considering choosing the faster route for selling their homes and more people each day are gravitating towards these quick sale real estate transactions out of pure convenience. Investors like us who buy houses cash can close extremely fast in 7 – 10 business days. Compare that to listing your home on the market with an agent and you can easily see the appeal for selling your house fast to a real estate investment firm.
If you have been thinking about doing a quick sale on your Colorado property then please reach out to us at (719) 286-0053 to get an instant cash offer on your home right now in less than twenty minutes once we have gathered our preliminary details.
Taking The Time To Understand Quick Sale Real Estate Transactions
A quick sale transaction usually takes place when a homeowner is facing a difficult life situation that is forcing them to sell their house “quick” hence the name quick sale. A lot of people in the real estate world get the term quick sale confused with a short sale, but these two types of transactions are not the same. A short sale is when the buyer of the property negotiates the terms of the sale with the bank, usually in order to pay off the existing mortgage loan on the property to avoid foreclosure. A quick sale is exactly what is sounds like – it’s just a quick sale of the real estate, and can be done for any number of reasons.
Homeowners may choose to opt for a quick sale transaction if they are in foreclosure, going through a divorce, have bad tenants, inherited a property that they no longer want, and many other similar situations where selling quick is ideal.
There are many situations that prompt homeowners to choose to take this alternative route, from foreclosure to divorce. We are a private real estate solutions firm who buys houses in any condition in Colorado all throughout the state. We mainly operate along the front range, but we also buy homes on the Western Slope and even down near the four corners in Durango and near Mesa Verde National Park. Our home buying corporation pays cash for houses in any condition, and we have a tried and trusted process for analyzing deals and then making offers based on our initial property evaluation. Read the list below to find out how we go about analyzing deals and making our cash offers.
Mainly we look for three things:
- How much is the home worth at full value? This is the very first thing that we look at, and there are a number of methods that we use for doing so. Usually, we will use a combination of software tools, real estate agent’s opinions, and our own professional analysis to quickly determine what the “after repair value” of the home will be.
- How much will it cost to get to that value? The second thing that we like to look at is how much money it will cost to get the home up to that value that we have determined in step 1. This involves sending one of our home buying technicians out to the property to analyze the home and estimate how much money it will cost to fix it up so it can then be sold for the price that we have initially determined in step 1.
- What price can we comfortably pay for the house? The third and final step in the process is for our team to analyze what price we can comfortably pay for the house taking into consideration the numbers that we have discovered in the first two steps. We have a custom formula that we use to determine this number. Basically, we take between 70 – 80% of the full market value of the property and then subtract the estimated cost of repairs to give us our final number which will then be used as our cash offer.
Given These Details Do You Think A Quick Sale Is Right For You?
This is the question that you need to ask yourself and go over in your own head to come up with a final decision. Feel free to seek counsel from friends and family members to see if any of them have any insight on whether or not they feel it’s worth considering to sell your house to a flipper in a quick sale transaction. Feel free to read out testimonials to find out what our previous clients have said about using our service and if they felt that it was worth it. I think that you will quickly realize that there are specific situations where a quick sale is not only the most practical option, but it’s actually THE only option for some people such as foreclosure homes where the time is running out and they have to act fast before a certain deadline.
Performing a quick sale transaction on your home is not for everyone. If your house is in great condition and you have plenty of time to sell it then you should probably just list it on the market and attempt to get top dollar. However, if you are facing foreclosure, going through a divorce, relocating for work, inherited a home, or just want to be done with a problem property then you should definitely at least consider doing a quick sale transaction so that you can cash out of the deal without any further headaches or delays.
We love helping people, and that’s the main core principle that drives our business each and every single day when we are working closely with sellers who are facing difficult life situations. We are real people who struggle with our own problems, and we have studied vast amounts of information and data in many different subjects, topics, and verticals which gives us a leg up on our competition who only studies real estate investing. Our company was formed with the goal of helping people and making money while doing it, but we always put people over profits.
We understand that a lot of sellers may be facing extremely painful life circumstances which are forcing them to want to do a quick sale in the first place, so we go into each and every transaction with an empathetic mindset and our first priority is always to help the seller in any way we possibly can.
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