Relocating can be a challenging and complex process that requires careful coordination. We receive frequent inquiries from local homeowners in Kentucky who are looking to sell their properties due to relocation. Fortunately, we are well-equipped to assist these homeowners in selling their homes quickly, as we are actively seeking to purchase properties in Kentucky at the moment.
However, selling a home during a relocation can be overwhelming, as it involves juggling a multitude of details and dealing with the stress of the circumstances that prompted the move, such as a new job or an ill family member. Regardless of the reason for the relocation, it always represents a significant life change that can be emotionally taxing.
So how do you make the most out of a difficult situation?
Don’t Agonize – Organize.
You don’t want to be in a situation where you end up paying to own and maintain a vacant house for 2 years. That gets expensive and it doesn’t have to be that way.
Although the market is relatively stable right now in Kentucky, things can change in the blink of an eye. We’ve heard some serious horror stories over the past couple of decades. Unless you’re filthy rich, you probably can’t afford to wait it out.
So how do you make the right choices when you’re relocating and need to sell your Kentucky house fast?
Relocating And Need To Sell My House Fast In Kentucky… Your Options And Steps
- Find out what your house is worth: Determining the value of your home is an essential step in the selling process. You can accomplish this by reaching out to a trustworthy real estate agent or by contacting us for a free, no-obligation property valuation. Understanding the current market value of your home is crucial as it sets the foundation for determining the length of time you may need or be willing to sell the property.
- Decide how fast you need to sell your house after you relocate:
I have witnessed instances where professionals relocating out of state for work had to keep their homes on the market for more than a year before finally selling it for a significantly lower price than their original expectations. It is crucial to determine the speed at which you need to sell your home, as well as how long you are willing to continue making mortgage payments, insurance payments, and other related expenses.
Deciding on a timeline that aligns with your financial needs and goals is essential. Keeping your home on the market for an extended period can result in additional expenses, as well as added stress and uncertainty. On the other hand, if you need to sell your home quickly, you may have to consider pricing it more competitively or exploring alternative selling options. Ultimately, finding the right balance between speed and value is key to a successful home sale.
- Find a real estate professional BEFORE you start packing boxes:
It’s essential to start the selling process as early as possible to avoid wasting any time and incurring unnecessary expenses. Every month that your house stays on the market represents a loss of potential income, as you continue to make mortgage payments, pay property taxes, insurance premiums, and other related costs.
Moreover, if you decide to sell your house without the help of a real estate agent, it is crucial to work with a reputable local house buyer who can provide a fast and fair all-cash offer. This can help you avoid the expenses and delays associated with a traditional home sale, such as staging the property, hosting open houses, and negotiating with potential buyers.Just fill out the form through this link to get started >>
- Calculate the value of selling your house fast vs. “waiting it out” for a dream price:
Selling your house for the highest possible price is always the goal, but it’s important to remember the costs of holding onto the property. These expenses can add up quickly and eat into any potential profits from the sale. Holding costs include the mortgage, insurance, taxes, maintenance, and other expenses that do not build equity.
For instance, let’s say you want to sell your house for $200,000. If your monthly mortgage payment is $1,200, taxes are $200, insurance is $100, and maintenance is $100, your monthly non-equity building expenses are $1,600. If it takes you 7 months to sell through a real estate agent for that $200,000, your direct holding costs would be $11,200, and you would pay $12,000 in real estate agent fees (assuming 3% for both the buyer’s and seller’s agents), totaling $23,200 in lost money.
Moreover, this figure does not account for the value of your time, the stress of thinking about the property sitting on the market, or the opportunity cost of what you could have done with that extra money during those 7 months. In reality, the actual cost to you is likely closer to $30,000.
However, if you were to sell your house next week and avoid all these holding costs, even if you sold it for a discount below the retail price, such as $175,000, you would still be ahead of the game by selling the house now at a discount to a home buyer like our company versus selling seven months later at full price and paying holding costs and real estate agent fees.
In conclusion, it’s crucial to calculate the costs of holding onto the property and weigh them against the potential profits of a sale. By selling your house quickly to a reputable home buyer, you can avoid these expenses and come out ahead financially in the long run.
- Take action!: Whatever you decide… decide and take action. If you want to go the real estate agent route, great! Find a reputable local Kentucky agent. If you’d rather not have to wait and not have to pay real estate agent commissions… then a viable option may be to sell your house to us 🙂
If you’ve got a lot of time on your side and a really great property, you might want to test the market by offering it out at a high price. There’s a small chance someone might just fall in love and be willing to overpay – people do crazy things for love.
Most properties are pretty average, in reality. They tend to be like the other houses around them, in the same way that people who live near each other tend to have a lot in common too. So unless your property is truly exceptional, as in magazine-quality extra-special, you won’t capture the most money in the market by pricing at the highest point.
You can also win by marketing your property for rent and sale at the same time, just to see what happens first. You have to maintain control of the process, which can confuse even seasoned real estate brokers.
In certain situations, we may partner with property owners to help secure lease option agreements where highly qualified purchasers rent the property for an agreed time before buying. In other cases, we may help renegotiate a loan, help make monthly payments or conduct a short sale with a bank.
We love helping people solve complicated problems
Creative solutions can bridge the gap to get you where you need to be.
Who Is We Buy 502 And How Can We Help You If You’re Relocating And Need To Sell In Kentucky?
We’re investors. We support our families and beautify neighborhoods by buying houses from Kentucky home owners who need to sell fast for one reason or another.
The types of sellers who tend to work with us include people who…
- Need to sell fast (we can close in as little as 7 days if you need us to)
- Don’t want to pay real estate agent commissions
- Don’t want to hassle with listing a property with a real estate agent
- Can’t sell their house for one reason or another (we buy houses in as-is condition)
- … or a variety of other reasons
But we’re passionate people, and we believe in the Kentucky community.
We’re honest and straightforward.
We’ll quote you a fair price, and we can close fast with cash.
If you’re prepared to wait and can hire professionals to help, you can manage the sale of your property from a distance. In certain circumstances that risk can pay off.
We’re happy to help you find answers to your toughest questions about your Kentucky real estate, so please feel free to call us at (502) 849-5950 and chat with us anytime.