As a baby boomer, selling your house can get quite complicated. This is usually the case due to the large number of home sale options that are available for sellers. Put simply, it can be very difficult to determine which one is right for you when you’ve got many sale methods to choose from.
Should you hire a real estate agent over “for sale by owner”? Or would it be a better idea to sell your house via a direct sale to a cash home buying company like FastPath Home Buyers? These are some of the questions that may leave you stumped way before you’ve even begun looking for a buyer.
But fear not. In this blog, we are going to make your life a little easier by outlining some of the key options that baby boomers can turn to when selling their houses in Saint Paul MN. We’ll highlight these home sale options, discuss a few scenarios where each of these sale methods would work best, and talk about a few pros and cons associated with each sale method. So read on because it’s always a good idea to familiarize yourself with your options before you pull the trigger.
If you’d like to discover a couple more home sale options that may work for you too, be sure to catch another one of our posts that focuses on exploring your options when selling in Bloomington MN.
Ways Baby Boomers can Sell Their Houses in Saint Paul MN
Read on to discover the tops ways baby boomers can sell their houses in Saint Paul MN.
Hiring a professional real estate agent to assist you in selling your house is one of the ways baby boomers can sell their homes in Saint Paul. However, listing your home on the real estate market (whether you’re doing so alone or with an agent) means that you’ll likely need to update the house’s interior and exterior. This will include refreshing your house’s paint job and updating your plumbing or central heating. And those aren’t the only crazy expensive home repairs you’ll have to worry about.
There will also be showings, so you’ll need to consider living under the pressure of having your home picture perfect at all times. Not to mention, the costs that are associated with marketing your home ( professional photographer, online ads, video recording technology etc.) and staging it ( buying new furniture for showings). To top off the discomfort that comes with listing, there is no guarantee that your home will actually sell, even if you do everything right.
For sale by owner (FSBO) is one of the ways baby boomers can sell their homes in Saint Paul. Due to the demanding and time-consuming nature of selling a house, it is important to first ask yourself if this method of selling is for you. While “doing it yourself” may initially appear to be an attractive option because you control everything and you don’t have to worry about agent fees or commissions, sellers often regret choosing this option. Unless you are a trained real estate professional, you will find home sales to be a highly complicated endeavour. The errors you are bound to make, due to inexperience, could end up being far more costly than any savings you may realize. You could even wind up in court due to your lack of awareness regarding the local, state, and federal laws governing real estate.
In addition, It is difficult to represent yourself in negotiations. This is mainly due to your emotional attachment to your property. You’ll also need to understand the current market and your competition because setting the right selling price can mean the difference between a quick sale and your home sitting on the market for months. So before choosing this option, you should make sure that you’ve adequately researched the pros and cons of selling your home yourself and know what you’ll be signing up for.
While many boomers purchased larger luxury homes, these aren’t the homes today’s buyer is seeking. In order to open your property to a broader buyer base, seller financing is another way baby boomers can sell their homes in Saint Paul. Understandably, if you’re under a time crunch, this option may be more appealing. However, it does include some risks.
For many, becoming a landlord in retirement may not be the plan. But while it’s not the first choice, it may be a viable option for you. You’ll need to enter this type of arrangement with your eyes wide open. Firstly, you’ll be dealing with buyers who likely weren’t able to secure traditional financing for a mortgage. While buyers are responsible for the property as if it were theirs, it’s highly possible that you could end up holding the property yet again and having to go through the process of finding yet another buyer.
Rent to Own
Another way to sell your home is to consider renting the house, with an option to buy after a specified period. While it’s not a guaranteed sale, it is yet another way baby boomers can sell their homes in Saint Paul. Again, this has its risks. You’ll still be the one responsible for the property.
One of the quickest ways baby boomers can sell their homes in Saint Paul is through a direct sale. Usually, the process is complete within a matter of weeks. Now, whether you list with a real estate agent or sell the home yourself as an FSBO, remember that you will probably face these issues:
- Home repair costs and cleaning
- Advertising costs
- Appraisals and inspections
- Waiting 3-6 months to find a buyer
- Commissions and Showings
Selling directly to a reputable home buying company like FastPath Home Buyers will save you from having to face all of these problems. Most direct sales are “as-is”, meaning that a company or investor will accept your home in any condition. And if you are in a hurry, don’t worry. Direct sales can conclude in just a matter of days because most direct buyers won’t have to fool around with banks or mortgage loans. They pay Cash!
If you’re a baby boomer looking into ways to sell your home in Saint Paul MN, the easiest and most convenient way to sell is by selling your house directly to FastPath Home Buyers. Here at FastPath, we buy houses in Saint Paul, and its surrounding areas. We offer home sellers a fair price for their houses and are prepared to close on any deal in as little as 7 days. When you work with us, you don’t have to worry about listing with an agent or waiting 3-6 months to find a buyer. We are your buyer… coming directly to you! Calls us at (612) 351-2384, or fill out the short form below to receive an all-cash offer today!
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