If you own a home in Miami that is not in its best condition, you might be overwhelmed with how to dispose of it. Whether you inherited the property from a loved one or used it as your starter home, you’re ready to move on.
Selling your ugly house in Miami might seem like an overwhelming mess, but there are options. Here’s what you should consider if you’re thinking about selling that old, ugly house.
Are there safety issues with your ugly house?
Depending on how safe your house is, selling in the traditional way may be difficult, and it will be impossible or even illegal to rent. Someone who wanted to buy your home won’t be able to get a loan if the house doesn’t meet certain safety conditions. That’s why the buyer’s mortgage lender requires an appraisal.
During this process, an appraiser is going to look in a few key areas.
- First, he or she will make sure that the roof has at least two more years of practical and safe use.
- Inspections are also made to ensure the drainage is correct on the property. Water should flow away from the house so that it doesn’t damage the foundation.
- If the central heating unit doesn’t provide heat to all of the rooms, your inspection will not pass.
- If your home was built before the 1970s, your appraiser is going to look for signs of asbestos. While this material was reasonably accessible in the past, it is now linked with cancer and lung disease and should be safely removed.
- There will also be checks to ensure all rooms have some kind of exit in case of an emergency.
While this is not a complete list, an appraiser is making sure the house is livable before approving a mortgage to buy it. Since most home-buyers are not able to pay cash, you’ll need a lender to give the all-clear if you have any hopes of selling it.
If your home doesn’t meet the minimum standards, you’ll have to make the necessary repairs and upgrades before putting it on the market. As you can imagine, this can be a timely and expensive project depending on the needs of your home.
Selling Your Home: Realtor vs. Self Sale
If you decide that selling your ugly house is the best option, you now have to make a choice. Do you hire a realtor to help, or do you try to go it alone? There are a few factors to consider when deciding how to go about selling a house.
When you hire a realtor, you typically pay that person a commission. There are plenty of arguments as to whether you lose money or not. Some would suggest that a realtor is going to get you a higher price than you could get on your own, which helps pay their commission. This might be true, depending on the state of the house, area, etc. If you sell the home on your own, you won’t have to pay out a commission.
Part of selling your house is getting the word out that it’s available. Realtors have access to tools that regular people do not, like the Multi-Listing Service (MLS) tool. The commission that you pay to your realtor covers the cost of him or her listing your home with these tools. If you try to sell on your own, you must have marketing costs out of pocket.
Selling a house involves chatting with potential buyers, showing them around the property, setting up open houses, etc. If you already lead a busy life, making room for these kinds of events can be difficult.
It’s also worth considering how long it will take to sell the house. While there are many factors that determine how long your Miami property will sit on the market, it will take some time. While you’re waiting for someone to make an offer, get approved for a loan, pass inspections, and close, you’ll continue making payments: mortgage, insurance, utilities, and more.
Housing and rental contracts can get confusing. More importantly, you have to watch out that someone isn’t trying to take advantage of you. You can hire your own lawyer, but that will come directly out of your pocket. And while your real estate agent should know about some of the legal issues involved with your home, he or she is still looking out for themselves.
Making a mistake with the sale contract could result in months or years of legal battles along with extra costs.
A Third Option: Property Nation in Miami
If the prospect of putting time and money into fixing your ugly house and spending an unforeseeable time waiting for someone to make an offer seems daunting, there is a third option. Instead of dealing with the hassles involved with fixing, selling, or renting an old house, you can sell it to a property investment company.
Property Nation exists to help people who want to avoid any headaches associated with an ugly house. We’ve made the process of selling a house easier than ever. We’ll give you a fair, cash-offer to buy your house as it stands. That means you won’t have to do any repairs or upgrades, you won’t have to wait months for the house to sell, and you’ll have cash in-hand right away.
We pride ourselves on keeping things simple: no tricks, no gimmicks, and no waiting to get rid of that ugly house.
Don’t be overwhelmed by deciding what to do with your ugly home. Call Property Nation today, and let us take that eyesore and hassle off of your hands.