There are many great ways you can reinvest the proceeds from the sale of your Charleston house. In our latest post, we explore some options to make your new found cash work for you!
People sell their home for all sorts of reasons. Sometimes the cash is needed right away to pay a debt, and sometimes they find themselves with an unexpected surplus available to use elsewhere. Instead of spending this money on material objects and things that come and go, why not reinvest your earnings into something that will benefit you down the road? Below we will discuss some of our favorite ways to reinvest the proceeds from the sale of a Charleston house!
Real Estate Crowd Funding
A great way to reinvest the profits made from your Charleston area house, is to put the money into a real estate crowdfunding opportunity. You’ll want to research any investment before sinking your money into it, but investing in a real estate crowdfunding opportunity can be a passive and hands-off investment that can really pay off.
There is no greater investment than that in the future of your children. By contributing to a 529 plan or a designated college fund, you’re not only contributing to your child’s future, but you are also teaching them a financial lesson. The money placed in a 529 plan will grow tax-free, and will not be taxed when the money is withdrawn. Many families utilize these savings plans for their children ahead of time, so they are not blindsided by huge bills when their children begin college careers.
A Rental Property
When selling one home, it can be a great idea to reinvest in another. Not only will you avoid capital gains taxes this way, but you will also be able to find a rental property that really performs and generates a substantial profit for you. If one home or investment property isn’t working, maybe it’s time to try something different! When you find the right rental property in Charleston, you’ll be able to generate an almost passive income, building on the proceeds you have received.
If you sell an underperforming rental, you can use the funds to improve your primary residence. Building equity in your home as well as adding a feature you will personally enjoy is never a bad thing. Whether you want to improve a dated kitchen or repair an old roof, now is the time to get those things done. While you might be faced with capital gains taxes when you choose to spend the money on improvements, you will be able to take a deduction for your home improvement costs. Plus, in order to face capital gains taxes, you would need to generate hundreds of thousands of dollars in profits.
Pay Off Other Debts
Do you have high-interest debts weighing you down? Now is the time to clear them up once and for all. Paying money to borrow money doesn’t usually make sense. While carrying a mortgage can actually help in some financial situation, but having a high-interest loan or credit card doesn’t.
Before you go and spend all of your proceeds, don’t forget about the looming tax man. When you reinvest your proceeds into a “like-kind” investment, you will be able to avoid capital gains taxes. Always be aware of your tax consequences when you reinvest the proceeds from the sale of your home. You should always consult with your financial planner or CPA before making any financial moves.
Learn about some great ways to reinvest the proceeds from the sale of your Charleston house! Get in touch with us today to learn more! (843) 881-7171
The post 6 Ways To Reinvest The Proceeds From The Sale Of Your Charleston House appeared first on We Buy Charleston SC Houses.
There are many great ways you can reinvest the proceeds from the sale of your Charleston house. In our latest post, we explore some options to make your new found cash work for you! People sell their home for all sorts of reasons. Sometimes the cash is needed right...
A great way to get your asking price for your Charleston house, is by selling via rent to own agreement. Many sellers don’t realize just how beneficial the process can be. Learn more about how it works and how it will benefit you in our latest post!
If you have had trouble selling your house in Charleston or if you haven’t been able to get an offer reflective of your asking price, a rent to own sale might be an incredible option for you. If you don’t need the cash from the sale immediately, a rent to own scenario can be one of the most lucrative ways to sell your house.
How A Rent To Own Agreement Works
A rent to own agreement is entered into between a buyer and seller and can provide benefits to both parties. The buyer will agree to rent the property for a specific period of time before they purchase outright with the help of a conventional loan. During the rental period, the rent will likely be higher than the market average and there will usually be a down payment made upfront. This helps to ensure the tenant won’t simply walk away once the rental period has elapsed. The tenant is given 1-3 years before the purchase will need to be made. The sale price can be negotiated up from or be based on market data at the time of the sale. By agreeing on a price today, you’ll be able to get your asking price, plan for the future, and continue to make a passive income over the next couple of years.
Perks for the buyer:
- The ability to buy without a down payment
- The ability to buy with poor credit
- The ability to lock in a price for the home at today’s rates
- The ability to try a home before committing to buy it
Perks for the seller:
- Get their asking price
- Guaranteed income for the duration of the lease
- Cash up front
- Ending some holding costs for things like taxes and maintenance
How To Set One Up
There are many standard boilerplate agreements you can use to cover the basics. Additional terms and any other details should be added to the contract as a layer of protection. You will want to make sure you are covered if something goes awry. Before executing the final agreement, have your lawyer look it over to make sure all bases have been covered.
Some specifics you will want to include are:
- The amount paid in rent each month
- The amount of the down payment to be made upfront
- The amount of the option fee
- The length of the lease before the sale needs to be completed
- Penalties for late payments
- Penalties for defaulting on the agreement
- Tenant and landlord responsibilities for repairs, taxes, utilities, and other ownership costs
- Contingencies for canceling the sale
- The final sale price
There are many other things you can include in your rent to own agreement, but the above items should be at the top of the list. Ask your lawyer, agent, or consultant about anything you may have overlooked in your agreement.
How To Get Your Asking Price
When you enter into a rent to own agreement with a buyer, the sale price is typically determined at this time. Doing so will allow you to get your asking price for the home as well as locking in the sale price for the buyer. Prices could rise dramatically, but they will still be able to buy at the agreed upon price.
Learn more about selling via rent to own agreement! Contact us today, call us at
(843) 800-2705 or complete the form below!
We buy houses in ANY CONDITION in Charleston and around SC! We pay CASH and you will not pay any commissions, agents, or fees.
The post Get Your Asking Price By Selling via Rent To Own in Charleston! appeared first on We Buy Charleston Houses.
A great way to get your asking price for your Charleston house, is by selling via rent to own agreement. Many sellers don’t realize just how beneficial the process can be. Learn more about how it works and how it will benefit you in our latest post! If you have...
Not all real estate agents are created equally. As you look for a real estate agent to assist you in selling your home, there are a variety of attributes that you definitely want to have in that type of professional. There are also six types of real estate agents you will want to avoid when selling your home.Not all real estate agents are created equally. As you look for a real estate agent to assist you in selling your home, there are a variety of attributes that you definitely want to have in that type of professional. There are also six types of real estate agents you...
Working with other investors in Charleston can help you buy and sell faster. In our latest post, learn more about the benefits of working investors and you’ll be able to find out what we can do to benefit you!
If you own an investment property in Charleston or the nearby areas that you are ready to sell, working with a fellow, local investor may just be the best way for you to sell. By working together, both buyer and seller of the investment property can benefit. Relationships can be built that will last a lifetime! Below, you can learn about some of the great benefits to working with other investors to sell your property quickly and without any hang-ups or hassles.
They Understand Your Plight
When you work with another investor, they will understand what you are trying to achieve, and won’t waste your time making unrealistic offers. You’ll be able to speak the same language and work together to create a win-win situation that works for all parties. A seasoned Charleston investor, such as the team at South Carolina Homes, isn’t going to waste your time with a bogus offer or make you wonder when the property will actually close. By working with an investor in Charleston, you’ll be able to save time and money in the long run!
Get A Fair Price
Seeing as they understand where you are coming so well, you can be assured they will pay you a fair price for the property. Both parties are on the same page. Finding a fair price should be pretty obvious to the buyer and seller who will understand both sides of the transaction. You won’t have to worry about haggling or answering ridiculous offers. When you work with a fellow Charleston investor, you’ll be able to meet like-minded individuals who you can add to your local network of associates in the business.
A Fast Sale
Just like you, an investor buying your Charleston house will want to close quickly. They don’t want their funds tied up while the sale is processing. And just like you, they will be motivated to move fast and close quickly. They’ll understand the holding costs and will work with you to take possession of the property as quickly as possible. When you sell your Charleston house quickly, you’ll potentially be able to save thousands on utilities, homeowners insurance, property maintenance, taxes, and possibly your mortgage.
Many investors will want to purchase your Charleston investment property as-is, saving you from repair expenses and wasted time. When you sell your Charleston house as-is, you won’t have to spend time or money making repairs, marketing the house, or even cleaning up. We will handle everything from start to finish so you won’t have to sink another dime into your unwanted house in Charleston.
Selling your house without an agent will save you a fortune in commissions. In many cases, there will also be agent fees and administrative expenses to factor in when hiring a Charleston real estate agent. Plus, the holding costs incurred during a traditional sale can amount to thousands if the property sits on the market for a while. By selling your house directly, you will be able to sell quickly, liquidate your investment property, and move on without any hassle or cost.
At the end of the day, working with other investors to sell your Charleston house is a great way to efficiently and effectively sell your property for a great price. The team at South Carolina Homes is buying houses in the area, and would love to work with you to sell your Charleston investment property!
Ready to learn more about working with other investors to buy or sell property in Charleston? Get in touch with us today! (843) 881-7171
The post Working With Other Investors To Sell Your Charleston House appeared first on We Buy Charleston SC Houses.
Working with other investors in Charleston can help you buy and sell faster. In our latest post, learn more about the benefits of working investors and you’ll be able to find out what we can do to benefit you! If you own an investment property in Charleston or...
Stop Foreclosure Charleston SC. If you’re looking for someone to stop foreclosure, Charleston SC House Buyers will help you avoid foreclosure by buying your house fast in 7 days or less. Call (843) 553-5005 or visit https://www.webuycharlestonschouses.com/stop-foreclosure-charleston-sc/ today.
The post Stop Foreclosure appeared first on Charleston SC House Buyers.Stop Foreclosure Charleston SC. If you’re looking for someone to stop foreclosure, Charleston SC House Buyers will help you avoid foreclosure by buying your house fast in 7 days or less. Call (843) 553-5005 or visit...
When you make the decision to put your home on the market, you face a myriad of different issues.
These decisions include everything from what real estate professional to hire to setting an initial sales price to dealing with different safety issues that need to be considered when selling a residence. Important safety tips are presented for your consideration in this article.
Initial Meeting with a Real Estate Agent
Of course, you certainly should have done your due diligence in selecting a real estate agent to handle the marketing and sale of your home. Thus, you should have fleshed out the background of the real estate agent you’ve selected for your home sale.
With that noted, you need to exercise discretion and care when you schedule your initial meeting with your real estate agent. For example, that initial session might best be held in the agent’s office where presumably other individuals will be around. In the alternative, the initial meeting can be at the residence, but you are wise to have someone else on hand as well. In fact, a real estate agent may have similar thoughts and may not attend an initial meeting at your home without a colleague in tow.
Safety and the Enhancement of Curb Appeal and Other Improvements
If you are like many homeowners, there may be some work to be done on your home before it goes on the market for sale. This represents another area in which there are safety considerations you need to bear in mind.
When initiating curb appeal improvements and other improvement activities at your home when contemplating a sale, potential risks associated with any type of construction site arise. In the end, you are not well served approaching potential risks in a haphazard fashion. Rather, you are best served having solid safety protocols in place commensurate with the specific type of improvement or enhancement task or tasks that will be undertaking.
Particularly if you are looking at some type of more extensive work on your residence in anticipation of sale, you might want to consider the benefits of obtaining an onsite safety evaluation in association with the remodeling or renovating that is planned at your home. This need not be a complex proves. Moreover, it need not be one that breaks that bank either. There are affordable professional services that can work with you and contractors to ensure that all proper safety protocols and practices are fully in place in advance of a remodel or renovation at your home in advance of placing your residence on the market for sale.
The reasonable cost associated with this type of analysis is far cheaper than a situation in which someone is seriously injured during a construction project at your home. Bear in mind that you are not only protecting a work crew but also members of your family and guests to your home.
Never Permit Unscheduled “Potential Buyers” Into Your Home
One of the tools used to market your home is the long-used “for sale” sign. This signage as the potential for inviting unwanted individuals to approach your residence seeking to have a tour, people who will maintain that they are in the market to buy a home. In fact, this simply is not the appropriate way in which a prospective buyer is to view a home for sale. Indeed, there is a reason why an agent’s name and contact information is clearly included on the “for sale” sign.
If someone actually does ring your bell and seek to tour your home, provide them with your agent’s name and phone number. That should be the extent of the discussion. You may even want to think twice about fully opening the door when an unknown caller appears at your home. A bonafide prospective buyer will not persist in seeking entry into your home. Rather, such an individual will depart and make contact with your agent. The fact is that a buyer who would like to spend any time looking for a home would have an understanding that this type of approach is not acceptable.
By following these safety tips you will place your home and yourself in the best position to effectively market the property. You will keep your family and yourself safe while at the same time position your home in a manner that it will sell in a reasonably timely period of time.
Do You Need To Sell Your House in Charleston and Want a Fast House Sale?
Even if an agent can’t sell your house, we can help.(Sometimes selling a house through a real estate agent is not for everyone.) And as a bonus,
- You won’t need to clean up and repair the property,
- You won’t spend the time finding an agent who you trust and who can deliver on their promise of selling your house quickly
- You won’t have to sign a contract that binds you to an agent for a certain term
- You won’t have to deal with the paperwork and the waiting and wondering (and hoping)
The post Safety Tips When Preparing to Put Your Home on the Market appeared first on We Buy Charleston Houses.
When you make the decision to put your home on the market, you face a myriad of different issues. These decisions include everything from what real estate professional to hire to setting an initial sales price to dealing with different safety issues that need to be...