Selling Your Home: Getting What It’s Worth
The Savvy Synopsis
Selling your home can be a stressful process as you try to do everything you can to get the best offer while simultaneously spending a reasonable amount of time and money to get it prepped. Angie answers four questions from the mailbag to help you prepare for the process
When selling your home, you want to get the best return on your initial investment as possible. Maybe that means you’ll eventually rent it out or maybe you’ll make repairs along the way. But when it is time to sell it, how can you get the best offer with the least amount of hassle? On this episode of the Savvy Realtor podcast, Angie answers three questions about selling a home as well as one question from a first-time homebuyer.
Do you have an investment property taken care of by a property manager? What happens when you decide you’re ready to sell the rental home?
Does your home need work prior to selling it? Without cash upfront, is there a way to make the repairs and pay after the sale of the home?
What upgrades provide the biggest bang for the buck? Angie shares how you can get an idea of what your home is worth now. You’ll want to figure out how to get top dollar on your home, whether that means making repairs or selling it as is.
On the other side of things, maybe you are coming to the end of your lease and are ready to buy a home for the first time. What do you need to know? Consider the timeline ahead of you, your budget, what you’re looking for, and learn more about what you need to know about the homebuying process.
Finally, is it worth considering working with an iBuyer to let them buy your home outright? Does it take away the hassle of the process or does it always mean a lower offer altogether?
Hear all of Angie’s answers to these questions from the mailbag by listening to the full episode or click on a particular question with the timestamps below.
0:38 - Mailbag: If your rental is managed by a property manager, will it be awkward to put it on the market?
2:25 - Mailbag: Is there a way to hire someone to repair the home and pay them later after the sale of the home?
5:28 - Mailbag: Apartment lease ends in two months, any first-time homebuyer tips?
7:45 - Mailbag: Are all companies that buy your home going to give a lowball offer?
Get In Touch:
Angie Cole - Contact - Call: 919-538-6477
Note: This is an automated transcription. Please forgive the robots as they tend to make some (a lot of) mistakes...
Speaker 1: (00:02)
It's time for the savvy real tour podcast. I'm Walter Shorholt alongside Angie Cole, the owner and broker in charge of a Cole Realty serving you throughout the triangle, teaching you about the ins and outs when it comes to buying or selling a home. You can find a team online by going to eight Cole realty.com that's a C O L E real t.com or by calling (919) 578-3128 that's (919) 578-3128 and now it's time for one of the top realtors in the triangle, Angie Cole and the savvy real tour podcast. Naomi says, I have a house currently being rented by someone and I want to put it on the market. Here's the catch. The rental is managed by a property management company and it seems they are also real estate agents. Do I have to sell the home with them or can I pick an agent of my own? Would that be awkward?
Speaker 2: (00:55)
That's so funny that Naomi asked this question because we were just talking about this when we, uh, had mentioned, you know, our closings for this week. And so Naomi for example, our past client Houma who just closed on a home, her home was being managed by a property manager and that property manager here in their list homes, but actually he is a great referral source, uh, for our team and he actually referred Houma to us. So no, it, it should not be awkward in any way, just as if they are property managers, more than likely, they're probably better at that end of the real estate spectrum where myself, I'm in residential real estate, so I have not dipped into the property management world. And so if you were looking for a property manager, I would, you know, hand you off to someone who could better service you. And the same goes on the flip side. So if you're looking to sell your home, you do want to make sure that you're working with a real estate agent who really specializes in residential sales and they understand how to market your home to the very top standard, you know, can take you through the process and making sure that you're getting top dollar for your home. So not awkward at all. Once again, it's a business transaction, right, and you need to look out for you and your best interest.
Speaker 1: (02:06)
Very cool. Great question Naomi. Thanks for sending that. Went into us here on the savvy realtor. Again, if you've got questions for Angie, you can ask them directly if you'd like by calling or texting. 919-5386TY-47TY-7 that's (919) 538-6477 or [email protected] Charlotte has a question for us and Charlotte is not in Charlotte, but in carrying a Charlotte says, I think we're going to need to do some repairs to our home in order to get it sold for a good value. The problem is we're a bit tight on cash and don't really want to put money on our credit card for the improvements. Is there a way to hire people and then pay them later for the dollars we get from the sale of the home?
Speaker 2: (02:47)
That is definitely an option. Uh, we have a handful of sellers in the past who were in the same position where maybe they were a little bit tight, you know, as far as their cashflow that was readily available to put into their home, but then they of course, would the means once their home sold. Uh, but I do work with a group of wonderful vendors who allow, uh, for their, uh, their work and to be paid at closing. Um, I personally have fronted or help our sellers, uh, with making those things happen. Because once again, I want your home to look the very best. So then of course I can market it fully and I can get you top dollar. So you know, if that is a concern that you don't have the means to make repairs or make improvements upfront, let's definitely chat about that further.
Speaker 2: (03:29)
And see if there's something that we could work out and come to an agreement on to be able to service you, you know, the best possible. Um, and Charlotte, of course I know that you're looking to sell your home and I'm only assuming you want to get an idea of what your home is worth. And so we have a great feature that you can utilize and it is with using your smartphone. So if you are thinking about selling your home and you want to get an idea of what your home is worth in today's market, you can text the word listing to the phone number five five five eight eight eight and from there our team will send you back a text, make sure that you click the link, input your dress, and then from there we'll respond and we will send you an idea of what your home is worth in today's market. So once again, thinking about selling your home and you want to get an idea of what your home is worth in 2019 just text the word listing to the phone. Number five five five eight, eight, eight.
Speaker 1: (04:24)
Again, all you have to do is text the word listing to the number five five five eight eight eight that'll put you in touch with Angie Cole, have a Cole Realty here in the triangle and allow you to very easily find out that potential value of your home. Again, all you have to do is send a simple text, the number is five five five eight eight eight and then put the word listing in the message and send it to five, five, five, eight, eight eight. What'll happen is you'll get a text right back from us. You click on a link and put it in your homes information and voila, you find out the estimated value of your home. Great. First step, if you're thinking about selling your home anytime in the near future, go ahead and start to do a little research if you will. And then, uh, of course it's always fantastic to have Angie and her team come out and see the property in person and give you a great estimate, a, you know, a truly accurate estimate of what you should list your home for. But this is a great starting point to have it done kind of automatically for you. So again, if you want to utilize this tool that Angie and our team have put together, just text the word listing to the number five five five eight eight eight to find out the potential value of your home. Bernard says, I've saved up $10,000 for a down payment on my first home. I'm ready to start looking as my current apartment lease ends in about two months. Any tips for a first time home buyer? At my stage of the process,
Speaker 2: (05:40)
you better get out there really quick. Bernard [inaudible], you know, two months we here and gone. And remember when you're looking for our home, once you officially go under contract, standard closing from under contract. So from kind of start to finish there or from contract to closes, typically around 30 days sometimes can be even a teeny bit longer. So we're getting down to the wire. I could proceed that you have about 20 to 30 days to find a home. But as far as you know, tips, first steps, you know it's great that you've saved for a down payment, which is wonderful. But let our team connect you with one of our preferred lenders just to get an idea of what you can qualify for. You know, what kind of range of home do you want to start searching. Then from there, let's start talking about your housing criteria.
Speaker 2: (06:25)
You know what location, you know what a minimum square footage, age, bedroom, count, all that good stuff. You know, what are you looking for? And we need to get you set up on a home search and then just take our guidance. You know, we'll schedule appointments of course it take you out there to start touring homes. We will be there for you whenever you find that perfect home to run comparables for you. Give you suggested offer price and all the just contract terms that are needed to make an offer and just handle everything from contract to close. So a tip, once again, it's just go ahead and connect with us now as far as being real estate professionals and let us just guide you and hold your hand throughout the process.
Speaker 1: (07:02)
Yeah, it's so interesting. I think to have a question like this Bernard, cause you're in such a great position, you got that down payment saved, you're ready to go. And but if you've got two months, get, get working,
Speaker 2: (07:12)
you get go on. Yeah. Yeah. And you can connect us. Um, two great ways. I'm really buy, you know, you can either text or email me directly at nine one nine five, three eight, six, four, seven, seven. So once again, my number is nine one nine five three eight six four, seven seven or visit us [email protected] So that's a Cole realty.com and you can fill out an inquiry there. So we would love to connect to a dealer and that's super exciting that you'll be purchasing your first home. Big steps. Yep.
Speaker 1: (07:43)
Thanks for the question, Bernard. Uh, one more here to squeeze in before we run off for the weekend. AndG , this one's in Durham from Wanda. Wanda says, I tried out one of those companies that will buy your house right from you. Their offer was so much lower than what our neighbors recently got for selling their similar home. Are all of these types of companies going to yield a similar low ball offer?
Speaker 2: (08:03)
You know, one of, you need to remember that these type of companies, they're called [inaudible] buyers are investors, right? And so they're in the market to buy low. So then they can put kind of a band aid on it and they can realist and then they can make a big profit. You know, it's all about margins for them. So when it comes to working with one of those companies, you know that are like those eye buyers. Yeah, you can expect to get probably a lower than kind of an a state and I wouldn't say standard, but norm range for your home, the market value and just remember that although they give you an initial offer price, once they get into your home and they started doing their due diligence as far as inspections and touring and really adding up the cost of what's needed to get it back market ready, that number can go a lot lower.
Speaker 2: (08:49)
So I actually am communicating right now with a lady who she, you know, she says she has some animals not going to be easy for her to allow showings. Also, she really doesn't have the money to invest into things like painting. And she was thinking about just getting an offer from an eye buyer just to make it from on her end. She said just a little bit easier. She felt like she kind of was stuck and I said, you know what? Hang tight. Let me come out and meet with you. Because you know, oftentimes I know, you know, sellers can't get scared about the process and just feel a little bit overwhelmed. But you know what it is. Sometimes it's better to be a tad bit stressed out and make a lot more money than to give your home away and just be completely stress-free.
Speaker 2: (09:27)
But once again, that's where our team comes into place and we make sure that we make the process as smooth and seamless as possible. You've been listening to the savvy real tour podcast. I'm Walter store Holtz alongside Angie Cole. She's the owner and broker in charge of Aiko Realty here in the triangle. And if you have questions for Angie, we invite you to go online to a cold Realty, [inaudible] dot com listen to past podcast episodes on the website, read the blog and all the great information, including the option to find a home right there on the website. That's a Cole realty.com and you can also call Angie with your questions. (919) 578-3128