Having to relocate can be quite a stressful event. Local Northshore homeowners who need to sell fast call or submit their house’s info on our website saying “I’m relocating and need to sell my house in Beverly, MA”. This may be because of a job transfer, need to move near family, or any other reason. Fortunately, when these homeowners reach out to us we are able to help them by buying their house quickly and ending their stressful situation. We’re actively buying property in Beverly, and everywhere else in Essex County right now!
With all the things to keep track of during a move, going through the process of selling a house on top of that is very difficult. If you’re moving for a new job or to care for a relative, you need to be focused on why you’re relocating.
So how can you make the most of this difficult situation?
Organize, Not Agonize
You really don’t want to end up in a situation where you’re paying taxes,mortgage, and repairs on a vacant home after you’ve moved. It sounds as expensive as it is.
We’ve been seeing a strong market in recent years in Beverly and surrounding Northshore towns, but as you know things can change quickly and without warning – leaving homeowners in pretty big trouble. If you got caught in a situation like late 2008 again, you’ll be hurting unless you’ve got a lot of zeros on the end of your savings account.
So, you probably want to sell that house before it costs you too much sitting vacant, and before there is time for the market to go to the dumps. But how can you make the right choices when relocating and need to sell my Beverly, MA house soon?
Relocating And Need To Sell My House in Beverly, MA Fast – Options And Steps
- Get an idea of your home’s value: A good way to do this is to ask a reputable local real estate agent, or you can connect with us and we can get you a no-strings-attached valuation of your home. When you know what the property may sell for on the open market, you get an idea of how long it will take to sell if listed.
- Determine how quickly after relocating you need to sell your house: This is important. I’ve seen families who switched houses or moved out of state for a job whose houses sat on the market for a year or more before it sold – and when it finally sold it was at a much lower price than they had been planning on. So, make a plan for how quickly you need to sell your house – and be honest about how long you’re willing to make double the mortgage, insurance, tax, etc. payments.
- Set yourself up with an agent before beginning the moving process: Be proactive so you don’t waste time (and money!). Every month the house isn’t sold you’re costing yourself money – keep that in mind as motivation when planning. If you don’t want to sell with an agent, there are other ways to sell your property quickly. See how a local home buyer like We Buy Houses in Massachusetts could make you an honest cash offer.
- Investigate the value of selling your house now vs. waiting it out for your goal price: Everyone wants to sell their house for as much as possible, however some people end up costing themselves some pretty solid coin by overestimating the market while trying to get their dream price. The costs of holding the home while you wait for it to sell, and the closing costs when selling can really add up. Your mortgage payment is going almost completely to interest if you’re in the first 10 years of the loan, you pay insurance, taxes, repairs, and cleaning for showings while it sits. Then you can lose a bunch at closing too! Let’s break this down some more.
- Let’s say you pay $1200/month mortgage ($1000 of which is interest), $250/month in taxes, $100/month for insurance, and $150/month for maintenance (lawn care, misc repairs) while you hold the home waiting for it to sell. This adds up to $1500/month of money that you’re throwing away while waiting! If you have to wait seven months to sell your house, this is $10,500 in holding costs – wow! But, unfortunately it doesn’t end there.
- For a round number, let’s say you sell your house for $250,000. Well, at closing you have to pay 6% average for agent commissions ($15,000), 2% average for closing costs ($5,000), and 6% average for seller’s concessions (repairs the buyer, inspector, or lender demand be made before purchase, or lower the price – $15,000).
- So, adding this all up we’ve got $10,500 holding costs and $35,000 in costs at closing – for a grand total of $45,500 or 18% of the sales price. And this doesn’t even include the time you invest into the process, and the stress you feel hoping a buyer will come along. Whew!
- But what if you needed or wanted to sell quickly, and we could help you be done by next week? Even if you sold for a discount below “market value’ – let’s say $215,000 with the example above – you’re still coming out on top if you need to sell now to a home buyer who pays all closing costs like We Buy Houses in Massachusetts.
- Is the benefit of selling to out company maybe becoming clearer?
- Make some moves!: Whichever path you take, make a decision and take action. If a real estate agent is the right route for you, then go for it! Find an awesome Beverly, MA agent who will work hard to sell your house. If you can’t or don’t want to wait (and don’t want to have to pay agent commissions), then it might be a good option for you to sell your house to us 🙂
If you have time or money on your side and a prime property, it may be worthwhile to test the market and offer it at a premium price. You have a small chance that someone might become infatuated with it and pay your price – people do crazy things for love!
Many houses present as average in reality. Just like people in the same neighborhood tend to be pretty similar, their houses follow suit. Barring that your home is HGTV-quality extra special you are unlikely to command offers when pricing at a premium level.
It’s also possible to find success by marketing your house both for sale and for rent simultaneously. Then you can see which you find a taker for first. This does involve being quite involved in the process, which can be difficult for agents.
In some situations, our company may work with home owners to help ink lease option agreements in which exceedingly qualified tenants rent the property for a set period of time before being given the option to purchase the house for a pre-agreed price.
In still other instances, we may be able to help renegotiate a loan, make up back payments or unpaid taxes, take over your loan payments, or conduct a short sale in conjunction with the bank.
We get a kick out of helping solve people’s house problems.
We’ve got an arsenal of creative solutions to deploy in order to help you reach your goals with your property.
What Is We Buy Houses in Massachusetts And How Can They Help You If You’re Relocating And Need To Sell My House In Beverly?
In a nutshell, we’re investors. We invest in real estate to earn a living and support our households, but we also get the added benefit of improving communities and neighborhoods through our work and assisting property owners in need. We do this by helping Beverly, MA homeowners who are in a situation where they want or need to sell their home quickly.
We tend to work with people who –
- Have to sell quickly (with the right property we can close in a week)
- Want to avoid the hassle of listing with an agent
- Are trying to avoid paying real estate agent commissions
- Are unable to sell their property for some reason (we will buy your house in as-is condition!)
- Are underwater on their mortgage (we can take over your loan payments)
- … and many other reasons/situations
Overall We Buy Houses in Massachusetts is a company of honest people from the Beverly area who believe in the continued revitalization of the community.
Our processes are straightforward.
We will offer you a fair price, and can pay with cash so we can close fast.
If you’re ready to hire an agent and wait, and you feel confident managing the sale of your house from another area – then in some situations your risk can pay off.
If not, we’re always glad to help you find answers to all your questions about Beverly, MA real estate. So, please don’t hesitate to give us a call anytime at 978-712-8250 to chat.