Relocating can be a challenge. It is never an easy task to pack up all your belongings and move to another home. Across town is difficult, but across the country is even more daunting. Now imagine if you are 90 years old and live alone. This was the problem for Jane. She wanted to move across the country to be near her adult children. She had a new house picked out and was planning to purchase it, but just needed to sell her current house first. After listing her property with a realtor and several weeks on the market going by with no offers, she started to get concerned. Her house was dated inside - she had lived there for 20 years and had not done any updating to the property since her husband had passed away a few years after they had moved there. The house did not have major structural or system problems, but the first time buyers that the house was best suited for seemed to be looking for more modern finishes and were not willing to spend significant amounts of money updating a newly purchased home. The problem was compounded by the fact that Jane needed to sell her house relatively soon and on a timeline that could coincide with her purchase of her new home on the other side of the country. After some searching online, Jane’s granddaughter came up with a potential solution. There are companies that purchase houses as is, with no repairs needed, and the ability to close on the seller’s schedule. A perfect solution! These cash home buyers don’t have to deal with potential delays getting bank loans because they have their own funds. And they are not concerned with the condition of the properties they purchase. Jane made a call to Bright Idea House Buyers, and they sent someone out to take a look at her property the next day. After discussing her situation, they were able to make an offer that gave Jane the money she needed for her new house, and close on the date of her choosing so she was able to plan her move ahead of time with much less stress. Jane’s granddaughter was able to help by arranging most of the paperwork to be completed over email, and she was even able to buy a plane ticket to fly out and help her grandmother with the packing and moving since the date of the final sale was predetermined. Given this new flexibility, they decided to drive across the country to spend some memorable time together and to make it easier for Jane’s pet terrier to make the journey without having to brave the airports and airline travel experience. For many people listing their property with a realtor as a traditional sale may be a great way to go. But if you need to sell your house fast with no stress and no hassle - and a lot of added flexibility - then a house buying company may be just the solution you are looking for.
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The real estate market in southern California is a difficult one. After dropping dramatically during the financial crisis, it has since swung back up and in some areas has reached new highs not seen before. In other areas it has not made it back to its previous peak, but has certainly come up significantly from the bottom.
So are we in a seller’s market or a buyer’s market? Broadly it would seem to lean towards the sellers. But every property is unique and not all situations are the same. Buyers tend to be going after the newer houses, or those that have been fully renovated and are turnkey. Homes that need a lot of work, or perhaps those not in the hottest neighborhoods will not always get a quick sale. If you need to sell your house, here are some things to keep in mind: Timing The prime selling season is in the summer months. Though southern California does not have seasonal weather extremes the way many other parts of the country do, summer is still the best time in the market. Families who are home shopping often want to do so while school is out so their kids can be ready to start school in their new location. Condition If possible, you will sell a property quicker and get a higher value if your home is in great shape. At the very least being clean and livable without significant deferred maintenance especially in any major system such as the plumbing, electrical HVAC, etc. If it is updated with modern and trendy finishes that is the best possible combination. Flexibility Sellers that are willing to work with buyers in terms of escrow timing and terms of the sale will expose themselves to a wider potential pool of buyers. If you are selling your home and need to use the proceeds to buy a new one - which is common - you need to be able to time everything right to close on both the sale of your home and the purchase of the new one. Having that lack of flexibility may make it a little more difficult to sell your home. If you are able to check all these boxes that’s great - that will give you the best odds of getting the highest selling price. But if not, there may be other alternatives worth considering. Selling your property to a professional home buying service may be one of those alternatives. Because they pay with cash and can purchase in any condition, they provide a viable option for sellers that need to sell their homes quick, for any reason and at any time of year. |
Bright Idea House BuyersWe specialize in solving real estate problems - we are a local family owned business that purchases houses throughout the southern California area. Archives
July 2021
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