Trying to sell your home in a difficult market? You probably know that it is not going to be easy. The marketing time for homes in many areas is near an all time high. Worse, most sellers are being forced to make aggressive concessions in order to secure a sale. While holding out for the right deal can be a great decision, not everyone has the ability to wait months on end. If you are in this situation, it may be time to consider a creative real estate alternative.
Why not sell your home with a rent to own home or lease option contract? Let’s look at some key reasons that sellers across the nation are considering this alternative.
Secure a Higher Sales Price
With a conventional sale in this market, there is likely going to be a great deal of negotiating. This means that chances are, you aren’t going to get as much as you would like for your home. If reducing your sales price just isn’t an option for you, rent to own can be a great solution for you. With houses for rent to own, the seller sets the price. There is generally very little negotiation because the buyer tenant knows that they will need to pay full price for the home in exchange for your willingness to postpone the closing date to some time in the future. This does not mean that you can charge a ridiculous price that is far above what the home is worth. But it does mean that you should be able to get exactly what your home is worth!
Avoid Realtor Fees
Not only can you get full value, in most cases you can avoid paying costly realtor fees when your home does finally close. This literally will save you thousands! As an example, on a $300,000 home with a 7% commission, you would have to pay the realtor(s) (who may or may not have done a great job for you) $21,000. Wouldn’t you like to have an additional $21,000 in your pocket?