When it’s time to sell a house, all homeowners have one crux goal – to get the most for their home, maximizing their profits. You likely have numerous plans on what you do with the profits you make from the sale – fund your retirement lifestyle or pay for a new home.
That being said, getting a fair offer on your Stockton home can be a huge challenge, especially if this is your first time navigating a real estate transaction as big as this. If you’ve never sold a house before, the entire process can sometimes seem confusing, overwhelming or downright frustrating.
Worry not! We’ve got your back. This post discusses how you can get a fair offer while ensuring that you sell a house fast in Stockton, CA, with zero hassles. Yes, you can hit two birds with one stone and still walk away with a handsome profit in your pocket.
First things first,
What Is A Fair Offer?
Deciding whether you’re getting a fair offer is often the trickiest part of the sale. You don’t want to settle for a lowball offer, losing out on the additional profits. On the other hand, pricing your home too high might cause it to become a stale property, staying on the market with no takers.
Another way to determine a fair offer is by looking at how you want to sell your home. Selling the traditional way using real estate agents is a time-consuming and expensive process. You’ll have to spend considerable time and money renovating your home before you can list it on the market.
If you’re thinking, “Woah! That seems like a lot of trouble. Can I skip all the hassles and sell my house fast in Stockton, CA?” The answer is YES. If you’re looking to move as soon as possible, the better option is to sell your home “as-is” to a cash home buyer in Stockton, CA.
While you may not get a high offer as a traditional sale, you don’t have to spend your hard-earned dollars on renovations, realtor commissions or closing costs. In this case, to determine the fair cash offer, you can consider the 70% rule. The 70% rule states that cash buyers or investors pay only 70% of the home’s ARV (After Repair Value).
You can determine the fair value of your home by calculating the total cost of repairs, renovations and upgrades. Next, evaluate cash offers based on the 70% rule. A fair offer pays you at least 70% of your home’s ARV.
Tips To Determine If The Cash Offer Is Fair
If you decide to sell your home without a realtor, you can use these tips to determine if you’re getting a fair cash offer:
- Compare with recently sold homes in the neighborhood. This gives you an idea of the current market price of homes in the area. Use the selling values of similarly-sized properties to determine if you’re getting at least 70% of the after-repair value.
- Look at homes that didn’t sell. This helps you determine overpricing so that you can avoid it.
- Understand market conditions. Real estate market conditions are in constant flux. Sometimes it favors the seller and, at other times, the buyer. Understanding market conditions help you determine if you’re getting a fair offer.
Finally, Choose A Trusted Cash Home Buyer In Stockton, CA
Before you accept a cash offer, make sure to read reviews of the buyer. This gives you an idea of their business practices. If there are more negative reviews and dissatisfied customers, it pays to stay away from that particular buyer.
Selling your home for cash helps you save on repair and renovation expenses, helping you make a quick sale with zero hassles. Use these tips to determine if you’re getting a fair offer and complete the deal the right way.