The Hidden Costs of Selling a Home

Believe it or not, it costs money to sell a house. It’s probably more than you’re expecting, too. There are selling fees, which may be up to 10 percent of the total sale, then the commission, home repairs, and so much more. Selling is a hassle—a costly hassle. 

Real Estate Agent Fees

Working with a real estate agent is the most common route when selling a home. After all, the agent does a lot of the work for you. However,  you’re expected to pay for their work. It’s not hourly, either.

A real estate agent will have you sign a contract where you promise to pay their fees and a lofty commission at the time of sale. A good portion of the money you receive will go into their pockets. That’s less money for you to use for your next home or your family.

Home Repairs

To ensure you receive the most money for your home, you may consider making home repairs. However, these repairs can be expensive. You’re looking at painting, which could be up to $2,000. Then, there’s interior and exterior cleaning. That’s another $1,400.

All of that money is a loss to you, as you won’t get all of it back when you sell. The buyer gets all of the benefits.

Staging Costs

On average, staging a home for sale costs nearly $700. Essentially, staging just makes your home look nice. The furniture is placed in a way that allows the buyer to pass by quickly and easily to imagine their own furniture in its place.

Again, you’re not making any money back by staging.

If you want to make the most money for your home at the time of sale, call Sell My House Today. We offer a quick cash offer within 24 hours for your house when you call 719-476-2727!

Surprising Reasons to Downsize Your Home

Surprising Reasons to Downsize Your HomeAs you get older and the children start to move out, you realize you don’t need a massive home with numerous empty rooms. After all, your children are away at college and starting lives of their own. Every empty room is costing you money.

With that in mind, most homeowners consider downsizing. According to recent studies, one in four Americans wants a smaller home. They’re selling larger homes to move into smaller, more convenient spaces. Here’s why!

There’s Money in Downsizing

One of the most surprising reasons to downsize your home is because there is money to be had. That’s right—selling your big home and moving into someplace smaller can earn you quite a bit.

For example, what do you do with your belongings and possessions that won’t fit into a smaller property? You sell them!

Simplify Your Lifestyle

With a big home, you’re tacking on hours each week in maintenance, landscaping, and cleaning. With a smaller home, you’re cutting down on those hours of work.

With less time spent toiling away around the house, you can simplify your lifestyle and invest time and money into hobbies, date nights, vacations, and more with your significant other.

It’s Environmentally Friendly

A little-known fact about downsizing is that it is environmentally friendly. With a small home, your heating and cooling costs decrease, as does your water use, thereby wasting less energy and resources overall.

In the end, you’re paying less money, which is good for you and your wallet. At the same time, you’re using fewer resources, which is beneficial to the environment. It’s a win-win for everyone and everything involved.

If you’re ready to downsize your home and live life more comfortably, consider selling your house today. At Sell My House Today, we want to offer you cash for your property. To get started, call 719-476-2727!

What Happens When You Can’t Pay Your Mortgage

You Can’t Pay Your MortgageLosing your job is extremely tough. We truly feel for you. Despite your loss of work, you still need to make on-time payments to your mortgage company. They expect their money each month, and you cannot be late. If you’re late, there are often fees, and you risk losing your home.

Thankfully, most mortgage companies are willing to work with you. After all, if they don’t, they don’t receive your money. Their business relies on your cash.

Work Out a Payment Plan

If you want to keep your home but cannot make the monthly mortgage payments on time, consider working out a new payment plan with the mortgage company. Inform their office about your job loss or reduced work hours and negotiate a better plan to fit your new income.

In some cases, a lending company may accept partial payments until you get back on your feet. Some even have programs to suspend mortgage payments altogether for a short while.

Sell Your Home

If you’re not particularly attached to your home, you may consider downsizing. You have the option to sell your house for cash, repay the mortgage, and then move into an apartment or a smaller home while you find new work. If you’re already well behind on your monthly payments, and your house is due for foreclosure, you’re still not out of luck.

A real estate investor in the area is able to work with the bank or lending company and can buy your house all at the same time. You’ll likely need to repay a good chunk of the mortgage using the proceeds of the sale, but you’ll be out of hot water.

Are you ready to sell your house? If you can’t pay your mortgage, something must be done. Call Sell My House Today at 719-476-2727.

Selling Your Home As-Is to Avoid Costly Repairs

Selling Your Home As-Is to Avoid Costly RepairsIf you want to sell your home with a real estate agent, then you’re looking at some hefty costs. First, you’ll need to account for the fees and commission of the agent. Of course, that’s not all. Selling your house on the market in the traditional way often means paying out of pocket for repairs and renovations. Your realtor will request such work. After all, they have a stake in your home.

If you’re unable to pay for costly repairs or renovations and don’t want a realtor taking a sizeable cut, then you’re in luck. There’s another way to sell your house without handing over a ton of cash beforehand. You could sell to a real estate investor.

Selling a Home As-Is

Chances are, your property has seen better days. It might need a fresh coat of paint, a new front door, a bit of landscaping, or perhaps all-new lighting and plumbing. Now is a tough time to be undergoing extensive, costly renovations. The challenge of selling a home is already too much for many homeowners to tackle. Plus, there’s no guarantee you’ll see a return for all that work.

Find an Investor

Today’s top real estate investors in the area provide options most homeowners enjoy. You don’t need to pay for repairs or renovations. You just need to pick up the phone and call.

Real estate investors invest in the community. They purchase your home for a reasonable price, then use their own money to pay for repairs or renovations with a local contractor. With the work done, they sell or rent out the home.

If you want to avoid costly repairs, sell your house as-is with Sell My House Today. Give us a call at 719-476-2727!

Sell Your Home As Is or Make the Repairs?

Sell Your Home As Is or Make the RepairsThe time has finally come. You’re preparing to sell your home. As you start making plans, you notice that parts of your house are in disrepair. You may need to update the lighting, paint the exterior, or address dry rot. Whatever the case, no one said selling a home would be easy, at least if you follow the traditional route. But there’s another option—a more lucrative option—that will put money in your pocket without the need for costly repairs. You could sell your house “as is.”

Selling a Home “As Is”

Many homeowners who decide to sell their home as is feel that the repairs needed are just too expensive. Fixing an electrical system that is far outdated, for example, is a big, expensive job that’s hard to stomach.

If you don’t have the money, you can price your home a little lower than normal to accommodate the additional cost and responsibility the buyer would take on. But, if the house is in dire need of extensive multi-room repairs, you’re going to want to price even lower to attract a buyer.

Well, that’s assuming you’re selling on the open market with a real estate agent.

A better option might be to sell your property as is to a real estate investor. An investor is looking to buy into the community—even an old, ugly home—and invest in the property itself. They have contractors on call to handle such repairs for a good price.

Making the Repairs

Your other option is, if possible, to make the repairs. Many homeowners will bite the bullet and pay for home repairs if the situation isn’t too dire. For example, if you just need a fresh coat of paint indoors, that’s easy enough to tackle. You might even be able to tack on a bit to your asking price.

But again, the repairs should be relatively minor.

If you want to skip the headache of costly repairs, call Sell My House Today. We’ll make you a cash offer in as little as 24 hours when you call 719-476-2727!

Sell Your House Fast!

Sell Your House Fast!For many, the process of selling a home rivals that of buying a home. It can be even more stressful and exhausting since you’re hoping to get a nice chunk of change for your investment. If you don’t get any bites, you’re stuck.

The pressure is on.

Before you start second-guessing yourself and lose confidence, know that it is entirely possible to sell your house fast. Let’s explore your options!

Sell Your House Fast

When it comes to selling, you’ve got a few opportunities if you know where and how to look.

  • You can list your house with one of the top real estate agents in the area—someone with a track record for selling homes fast.
  • You can handle the sale yourself by going the FSBO (For Sale by Owner) route, which means doing your own marketing and sharing by word-of-mouth.
  • You may qualify for a short sale if you’re unable to make your monthly mortgage payments.
  • You can receive a quick cash offer in less than 24 hours from a real estate investor in your area.

Now, it’s important to note that a few of these choices are far more challenging and/or costly than the rest. For example, hiring a top-rated real estate agent is going to cost you. You’ll pay their fees and a commission on the sale. You lose money.

Then, there’s selling the house yourself. It’s tough. It takes a lot of work and a lot of marketing. In the end, all of that hard work may not pay off.

The one option that’s guaranteed to put money in your pocket is the investor route. You can call a local real estate investor, explain your situation, show them your home, and receive a cash offer within 24 hours.

Enjoy a fast home sale and a quick cash offer with Sell My House Today. Call us at 719-476-2727!

How the House Selling Process Actually Works

How the House Selling Process Actually WorksTo many, selling a home is more challenging a process than buying a home, but that’s not to say the process is often convoluted and challenging to undertake. If you’re selling a house traditionally, by the owner or with a listing agent, the path is pretty straightforward.

Selling a House

The more traditional method can be broken down into a few steps:

  • Listing Agent – You’ll want a listing agent to represent you and look out for your best interests.
  • Home Worth – Knowing the total value of your home makes a huge difference in the process. If you price too high, no one will make a move. Too low and you risk losing a lot of money.
  • Preparation – Going the traditional route often means making significant and costly repairs, renovations, and cleanup.

The Quick and Lucrative House Selling Process

Your other options, and perhaps the faster and more convenient of the two, is to find a local real estate investor. The process is simple. You pick up the phone and contact a local real estate investor who can make an offer on your home within 24 hours.

There are a number of benefits to working with a real estate investor, such as:

  • 24 Hours – You can receive a cash offer within 24 hours of your initial phone call.
  • “As-Is” Sales – You do not need to pay for any repairs or renovations; an investor will buy a home in any condition.
  • Fast Closing – The entire house-selling process is wrapped up quick and easy – often in well under a month.

If you’re keen on selling a house in Colorado Springs, CO, contact Sell My House Today at 719-476-2727. We’ll make a quick cash offer and you can enjoy a fast sale!

What if my House is in Good Condition?

My House is in Good Condition While a lot of the marketing for real estate investment is focused on buying and selling ‘ugly’ homes, that’s not always the case. For many homeowners, an old home is just difficult to sell on the housing market. There are too few buyers looking to invest in a fixer-upper. But a real estate investor? They will buy any house in any condition. So yes, even if your home is in good condition, an investor will make you an offer. The offer you receive will be reflective of the condition of the home.

Any House, Any Condition

A real estate investor worth their weight is invested in the community. The entire point of buying and selling houses is to help bolster the community. As such, investors typically purchase any type of home in any condition and in any neighborhood. They do not discriminate.

So, if your home has noticeable signs of age and disrepair, that’s okay. You can still receive a cash offer in under 24 hours for your house. But if your home is in good condition, with recent updates and renovations, the offer you receive will reflect that.

Benefits of Selling to Investors

There are a few benefits to selling a house to a real estate investor. These include:

  • Flexible Payment Options – Many investors offer flexible payment options, including certified funds, cash, and assumption of existing mortgage payments.
  • Any Condition – Investors will buy a home in any condition. You are not required to pay for repairs or renovations to the property.
  • Fast Closing – Many investors are able to close in under seven days, as the sale does not rely on financing, appraisals, or inspections.

For a quick cash offer, contact Sell My House Today. You can reach us by calling 719-476-2727 today!

Who Sells Houses to Sell My House Today

Who Sells Houses to Sell My House TodayThere has long been a certain stigma surrounding real estate investors. Yes, there are a lot of amateurs in the business. They advertise their home-buying services on the side of a road, with a shoddily-made sign stuck into the grass. These are not the majority, though. The majority of real estate investors are extremely professional and efficient business people who want to help homeowners. Here at Sell My House Today, we work with all types of homeowners on a regular basis, including those who no longer wish to own property, those who need quick cash, and those who cannot afford the repairs or renovations after a disaster.

Types of Homeowners We Help

There is no one type of homeowner that we help. We help every type of homeowner imaginable. Yes, even those in a challenging situation – whatever that situation may be currently.

We help:

  • Homeowners who are behind on their mortgage and owe the bank quite a bit of money, or those who are currently facing foreclosure because of their late payments.
  • Homeowners who have a growing family and need a larger house with adequate space for children, pets, and an abundance of possessions accumulated over the years.
  • Homeowners who have recently had severe property damage, including water or fire damage in the home.
  • Homeowners who no longer want the responsibility of owning property and would rather make some quick cash to travel or pursue hobbies instead.

As you can see, we help all types of homeowners who require a real estate investor’s expertise and drive. Here at Sell My House Today, we’re prepared to make you a quick cash offer for your property – no matter the condition – within 24 hours.

Give us a call now at 719-476-2727!

Do You Have to Pay Capital Gains Tax on Inherited Properties?

Pay Capital Gains Tax on Inherited PropertiesWhen you inherit your home, the property is typically worth more than what it once was. This excess worth is known as equity. If you were to then sell the home, you could endure huge capital gains taxes. Thankfully, when inheriting property of any kind, the property tax basis is increased to the current value of the home. Now, that sounds confusing. Bear with us here. If you inherit a home that was purchased for, say, $100,000 but is now worth $200,000, you’ll receive a step up from the original cost in terms of capital gains taxes. If you wait, however, and the property is worth $250,000 once you sell, then you’ll owe capital gains tax on the extra $50,000.

When You Pay Capital Gains Tax

These are the basics of capital gains tax payments on inherited property, but it’s not so clear-cut at all times. If you were given the property instead of receiving it upon the death of the original owner, then the tax basis is $100,000. If you then sold the house, you would need to pay capital gains tax on the difference, which would be $100,000 (if the new worth is $200,000).

You can avoid these taxes, though. If you live in the house for at least two years prior to selling it, you can exclude up to $250,000 ($500,000 for a married couple) of capital gains. This exclusion would be registered on your tax form to the IRS in the coming year.

Let’s look at one more situation. If you sold the home for less than its current worth, included the stepped-up basis, you have what is known as a capital loss. A capital loss can be deducted, assuming you do not use the home as your primary residence. However, just $3,000 of losses can be deducted against your earned income for the year. Anything over that amount must be carried over to the following year for tax purposes.

If you’re interested in selling your home and avoiding a lot of hassle, call Sell My House Today for a cash offer within 24 hours. We’re available at (719) 476-2727!