Ready to sell your house in Charleston or the surrounding areas? Learn more about the pros and cons of hiring an agent vs. selling to an investor in Charleston!
What many people don’t realize, is that there are many ways you can go about selling your home. You are not required to hire an agent, pay commissions, or even clean-up. In some situations, an agent is great. While in others, a direct sale to a private buyer of investor is the better choice. Keep reading to learn about the pros and cons of hiring an agent vs. selling to an investor in Charleston!
Potentially Higher Sale Price
When you work with a Charleston real estate agent, there is a chance you will receive a higher final sale price than if you would have sold directly. This is due to increased exposure and the opportunity to tell more people about your house. Keep in mind, your costs will also be much higher, so run the numbers ahead of time to find out if listing really is the right choice for you.
Handling The Details
When you work with a professional and qualified real estate agent in the Charleston area, they are sure to take care of the paperwork, showing, and marketing of your home. When you opt for an FSBO listing you will have to handle these things on our own. With a direct sale to South Carolina Homes, you can rest assured that we will handle all of the details too!
Cleaning & Showings
Putting a home on the MLS requires it to be thoroughly cleaned before it is put on the market or seen by any potential buyers. In some cases, you will need to hire a professional cleaning company or rent special equipment for things like carpets and sidewalks.
Not all agents are full service, leaving you with a laundry list of expenses to take care of. Some agents will only list the property, leaving you to handle the marketing, showings, open houses, printed materials, signage, and administrative costs. While this is included in some agent’s commission, in other cases, it is not.
It Can Take Months
When you work with a Charleston real estate agent, there is no guarantee if, or when the property will sell. In some situations, the house can sit on the market for a long time. This leaves you with the insurance, property taxes, mortgage, and utility bills for many months to come.
A Fast Sale
When you sell your house directly to South Carolina Homes, you’ll be able to sell the property in days, not weeks or months. This can potentially save you thousands in holding costs. You will no longer need to pay for utility costs, homeowners insurance, property taxes, repairs, routine maintenance, and all the other expenses that come along with being a homeowner.
Selling to a company such as South Carolina Homes will allow you to sell your Charleston house without any commissions, repair costs, continued holding costs, marketing expenses, or hidden fees. We will handle everything, helping you to keep a ton of money in your pocket.
Our process is simple and direct. You won’t have to deal with property showings, an unknown closing timetable, or delays in the transaction. Selling your Charleston house doesn’t require you to spend money or live in limbo.
Lower Sale Price
Take this one with a grain of salt. While the final sale price will likely be higher when working with an agent and private buyer, the costs you encounter can completely negate these profits. Marketing, repairs, commissions, and closing costs will eat away at that sale price. Run the numbers if your method of selling is financially motivated. In some cases, a direct sale to South Carolina Homes can be the more profitable choice.
We can help you decide whether hiring an agent or selling to an investor will be the right choice for you! Get in touch with us today to learn more! (843) 881-7171
The post Pro and Cons of Hiring an Agent vs. Selling to an Investor in Charleston appeared first on We Buy Charleston SC Houses.
Ready to sell your house in Charleston or the surrounding areas? Learn more about the pros and cons of hiring an agent vs. selling to an investor in Charleston! What many people don’t realize, is that there are many ways you can go about selling your home. You...
Selling your property via a rent to own agreement is an excellent way to easily get the price you want for your Charleston house. The process is simple and you’ll likely be able to find a buyer right away, even your current tenant! Learn more about how to set it up in our latest post!
There are many reasons why homeowners in Charleston are choosing to sell their properties via a rent to own agreement. If the cash isn’t needed right away, there are many financial benefits to selling your house in this manner. Below, we outline 7 steps to sell your property via a rent to own agreement in Charleston!
Step #1 – Find The Right Tenants
When entering into a rent to own agreement with a potential buyer, you’ll want to make sure it is someone you know and trust. If you would like to ultimately sell the house, you don’t want to have to worry about the deal not going through when the lease period is up. You are delaying the receipt of your funds in order to get the price you want, make sure you are working with someone who is worth it! If you have a great, long-term tenant, they are the first place you might want to look when trying to find the right people to move in.
Step #2 – Run The Numbers
As a seller, you are sacrificing immediate cash for a long term gain, so you will want to make sure it’s worth it. How much will you need upfront as a deposit? What about an option fee? You’ll need to figure out what you’ll need to charge in rent each month in order to make it worth it for you. You’ll need to determine which costs will be passed on to your tenants and which costs you will still need to manage. As you will still technically be the owner of the house during the lease period, you’ll ultimately be responsible for taxes and insurance. Make sure the monthly rent you are changing can cover these amounts!
With a rent to own agreement, the sale price is typically locked in at the time of purchase. However, in some cases, a tenant will agree to purchase at the market value at the time of the actual sale. While you run the risk of your home value dropping, you might also be able to get a higher price when all is said and done. If your tenant agrees to this, it is something you will want to consider!
Step #3 – Agree On Terms
There are many things a buyer and seller must agree to before executing their rent to own agreement. Before the buyer and seller sign on the dotted line, make sure to have an attorney look things over. Even the smallest mistake in your contract could have a huge impact on your ability to sell on the terms you had planned on.
A few of the financial details you will want to cover include:
- Will there be a down payment?
- How much will the rent be each month?
- How much if anything, will go toward the buyers down payment?
- How long before a purchase is required?
- Who will be responsible for taxes, maintenance?
- What happens with a default?
Spelling everything out as clearly as possible from the get-go will save you from any disagreement and frustration during the lease process and when it’s time to officially sell. When handled correctly, a rent to own agreement is a great way for a homeowner to sell their house in Charleston.
Contact our team today to learn more about selling your property via a rent to own agreement in Charleston! (843) 800-2705
The post 3 Steps To Selling Your Property Via A Rent To Own Agreement In Charleston appeared first on We Buy Charleston Houses.
Selling your property via a rent to own agreement is an excellent way to easily get the price you want for your Charleston house. The process is simple and you’ll likely be able to find a buyer right away, even your current tenant! Learn more about how to set it...
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...
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...