Do You Need to Sell Your House in Tennessee?

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Whether you’re voluntarily selling your home to relocate, you’ve been given a property you don’t want to handle, or your home has received such significant damage that you cannot afford to repair it, it’s still possible to sell your home in a timely manner.

NO MATTER YOUR SITUATION WE CAN HELP

In Tennessee, you have to make certain disclosures when selling your home. Sometimes, processes change depending on whether a home is in probate or foreclosure. You have a lot of options available to you, but you’ll have to tailor your approach when dealing with special circumstances. Just about every home, even under the most unfortunate circumstances, can be sold to the right buyer.

CHOOSING THE RIGHT SALES METHOD FOR YOUR HOME

SELLING THROUGH A REALTOR

When you picture a house for sale, you probably see a realtor’s signpost in the front. Most people attempt to sell their homes first by working with real estate agents. In the state of Tennessee, the average commission rate for a real estate agent is about 5.2%.

The average home value in Tennessee sits at $133,500, so the typical homeowner can expect to hand over $6,942 in commission to their real estate agent. Some agents include full services within their commission, but others may add fees for extra advertisement or staging costs, which can be as high as $1,000 per month.

Highly desirable homes in great locations usually sell within a month or two, while homes in a neutral stance typically take a little longer. Don’t forget about closing periods, which can also take up to two months.

Sell Through a Realtor
For Sale by Owner

FOR SALE BY OWNER

You can also sell the home on your own in order to avoid paying commission costs, but doing so won’t necessarily save you a significant amount of money. While real estate agents take their commissions out of the sale, you’ll have to lay out some money up front.

For example, you’ll need to stage the home for buyers out of your own pocket, or hire a staging company do it for you. You’re responsible for listing and advertisement costs, as well as compiling your pre-sale disclosure paperwork for potential buyers.

If the home needs any major repairs, you’ll need to consider making them. Things like roofs are very important to potential buyers. If yours needs to be replaced, the average cost of replacement is about $4,794 in Tennessee. Selling by owner will require an investment on your part.

SELLING TO AN INVESTOR

Your other option is to sell to a home investor. This requires no costs out of pocket, and the home can be sold in absolutely any condition. It won’t sell for market value, but you don’t have to worry about bleeding cash during the process.If you need to sell your home fast or the circumstances surrounding your home make it undesirable to potential buyers, an investor may very well be your best option.

If you have a gorgeous home in a perfect state of repair located in a great neighborhood in a high demand city with a thriving real estate market, your home is going to sell quickly no matter what you do.

Not everyone is that fortunate. If you need to sell faster than 60 days to avoid foreclosure, move, or unload a property that’s continually deteriorating, your best bet is to sell your property to an investor. If you’re in financial trouble, and investor may be able to work with your lender to arrange a short sale.

Investors will offer you less than your asking price for your home, but that’s not always a bad thing. You won’t have to make any repairs or pay any fees for commission, staging costs, or advertisements. You also won’t have to keep up the bills and taxes until the property is sold. It’s the quickest fix for selling a property and moving on with your life.

FINDING HONEST INVESTORS

Business is business, and some people will do anything to make a quick buck. Some investors are looking to purchase your home and rent it back to you for rates far higher than what your mortgage was.

This is a ploy to buy your home for a cheap price and take it from you, in order to renovate and resell it. Some will attempt to swindle you by speaking in misleading jargon, ultimately stealing from you.

Always research the reviews of investment companies before you sign a single piece of paperwork. The Tennessee government has protections in place for citizens who fall victim to investment fraud.

It may be worth looking at the Tennessee Department of Commerce & Insurance’s guide to spotting investment fraud in conjunction with reading testimonials about a particular company.

TENNESSEE INVESTORS SPECIALIZE IN HELPING HOME OWNERS IN DIFFICULT SITUATIONS

What to Do in Foreclosure

If you’ve received a foreclosure notice, you have 60 days to take action. If you haven’t yet, you’ll want to preemptively take action to prevent the foreclosure. Read more

 

What to do as a Landlord

If you don’t currently have any tenants in your home, you’re free to sell it like you would sell any other unoccupied property. Read more

 

What to do if you're in Probate

Not all properties go into probate. Things like payable or transfer on death accounts go directly to the assigned beneficiaries, survivorship designations for married couples Read more

 

What to do if Home needs repairs

If your property needs repairs, you have two options: either fix it, or don’t. What you fix depends on your budget. If you cannot reasonably afford to make repairs, it may be unwiseRead more

 

Working with a legitimate Investor

Home Buyers USA is a company that has long been established in the world of home investment.

We’ve worked with homeowners in a variety of situations to purchase properties in any condition in as short a period of time as possible. If you’re in dire straits and you need some serious help, we may be able to provide that for you.

Contact us today with information about your situation and your property, and we may be able to prepare you a quick cash offer.

We know that most situations that lead a homeowner to seek the help of an investor aren’t always pleasant, and we want to make the sale of your home as swift and easy as possible.

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