Have you seen the interest rates lately? Now would be a great time to sell your unwanted house in Little Rock.
The most powerful thing that will sell unwanted property is to price it appropriately and realistically. Take a look at other properties in the neighborhood and what they have recently sold for. When doing this, you want to pay close attention to the different features of the properties. For example, does it have a pool? Does it have a spectacular view or a not so good view? What year was the property built? What school district is it in? Is it near desirable shopping centers or areas of town? When looking at these comparable properties you want to be sure you are looking at the sales that have occurred within a 6 month timeframe of when you are looking to sell. Sometimes, there may not be any similar properties within a 6 month period to compare to, if this happens then look at larger or smaller properties and add or subtract value based off of the differences. Any real estate professional will be happy to help you with this. If your house is priced higher than the comparable houses in the neighborhood – it may be difficult to sell the property.
Sell to a Direct Buyer
If you need to sell your house in Little Rock fast, you may consider selling to a direct house buyer in the area. They provide all cash offers for your property and can typically close on your timeframe (quickly or if you need more time they work with you). The direct buyer will usually have a large network of investors and if your property does not fit their portfolio, then they will more than likely have a partner who can purchase it quickly. If you sell for cash to a direct buyer you can turn around and use that as a downpayment on a new property and take advantage of the low interest rates.
Owner Financing Option
We get it, there are many who may not have the best credit history or financial situation, and that is OK! Offering owner financing, or seller financing, could be a great option to get more buyer interested in your home. It is important to note that you should do your due diligence on the buyer before moving forward with this option. If you already have the funds for a downpayment for your new house then owner financing can be a great way to create monthly payments that puts money in your pocket!
Locate A Property
Market research is something you should do when considering a new property to purchase. Check out the schools, entertainment, access to shopping and groceries. Check that the taxes are paid, check the zoning, verify if the property is in a property owners association, this will cost you over time and eat into your rental profits. Get an inspection of the home to be sure there is no maybe issues that will cost you money down the line. When choosing a new home be sure to pay attention to the foundation, the layout, and the curb appeal.
We are seeing an all time low in mortgage rates right now! This is definitely a time to consider taking advantage of that. Take some time to speak with multiple mortgage companies to get the best quote that you can get with your current finances. you will take take in consideration where your credit score is at and when talking with lenders, ask them how they can work with you. Choose the lender that has the lowest interest rate with the length of payment and type of loan that works for you and the property you plan on purchasing. A pro-tip is to already have your pre-approval letter or proof of funds on you when looking at properties because you will need that to submit an offer.