There are many things to consider when choosing the right offer for your property. The best offer may not be the highest. In our latest post, we will offer tips to help you choose the best offer for your Nashville house.
Having multiple offers or different options when it comes to selling is a dream come true! This is how it was in the Nashville and Murfreesboro real estate market a couple of years ago when things were really hot and had way more buyers than sellers. That has now changed and today every seller would love the problem of trying to decide between multiple offers.
However, you’ll want to employ some of the same strategies when deciding on an offer. Just because the offer looks good on paper, doesn’t mean it’s the right one. Keep reading to learn more about some things to consider when deciding which offer to accept for your house in Nashville.
Tip #1 – The Actual Profits
When looking at an offer on paper, it’s important to consider all of the costs you will incur, and deduct them from that offer price. This will give you a good idea of where you stand financially. A few things you might want to think about are your closing costs which will run about 2-5%. If you are leaving appliances or furniture behind when you move, these items may need to be replaced, which is an additional cost you will encounter after the sale. You should also factor in the cost of repairs needed in order to sell. You will likely make some repairs upfront and a few more after the inspection has been completed. Keep in mind, if you sell your house directly to Southern Homes Investments, there are no repair or closing costs to worry about. We at Southern Homes Investments pay all of your closing costs and there will be no real estate agent fees and commissions.
Tip #2 – How They’re Buying
Some buyers will pay in cash, without requiring a loan, while others will need to talk to the banks about financing. Cash buyers are often favored by sellers due to the faster closing speed and less red-tape. The offer is much more likely to go through as you are not bound by the results of an appraisal. Banks pull funding all the time because houses don’t appraise high enough. If your buyer is using bank financing to acquire the home, make sure they have been pre-approved so you don’t have to wait even longer for that to occur. Please note, that being pre-qualified is different than being pre-approved. Even that stated today’s buyers in Middle Tennessee are being rejected by banks right before closing at the rate of 40% due to tighter financing scrutiny. With a direct sale to Southern Homes Investments, you won’t have to worry about any hassles or waiting. The funds are available to purchase your Nashville house outright, so you have no waiting or hassles. Our process is extremely simple and straightforward, with no red-tape to worry about. We will give you a couple of different offers and you can choose the best offer for you.
Tip #3 – The Timeline
How quickly can the closing take place? The faster you eliminate your holding costs, the more cash you will be able to put in your pocket. Ask any investor and they will tell you that once you have decided to sell, the longer you end up holding a house, the more it is costing you. Your costs of ownership add up each month. Utility bills, property taxes, interest on a mortgage if you have one, homeowners insurance, standard repairs, and maintenance are a few of the costs you will end up paying until the home closes. Once you add up all of the costs you will be facing month after month, your total could be in the thousands. By selling your house directly to Southern Homes Investments, you’ll be able to close quickly and eliminate your holding costs right away. The carrying costs on homes in Murfreesboro or Smyrna can be $40, $75, $125 per day while Nashville homes are closer to $50 to $150 per day depending on the value and size of the home. Holding or carrying costs should have a bearing on how you choose the best offer.
Tip #4 – Buyer Intent
Do you want to make sure your home goes to a good home? Many people feel an attachment to their property, and with good reason. It has likely been the place of many memories and laughs. When selling your Nashville home, when you find a buyer who will love the home as much as you do, you’ll have the peace of mind needed in order to sell confidently. When deciding which offer to accept for your Nashville house, learn more about the people who want to buy and why. What are their plans for the home? Are they planning to live there and love it as you did, or do they want to tear the property down for something better? Remember, it is never ok to discriminate, but you do have the right to decide which offer is right for you! When selling your Nashville house, it’s nice to have the peace of mind in knowing that the new owner will love the property as much as you do. At Southern Homes Investments we love making improvements on homes while adding value and quality to a neighborhood.
Choose The Best Offer
When choosing the best offer for your Nashville house, it’s important to consider more than just the price. The selling timeline, method of purchase, and intent of your potential buyer can all have an impact on which offer you ultimately choose. To learn more about the costs and alternate ways you can sell your house in the Nashville area, feel free to reach out to us at any time. Remember, selling directly to Southern Homes Investments, we close quickly and we pay all of your closing costs. You will not be burdened with all the hopeful buyers coming to your house day and night viewing it with a realtor. Instead of closing 30, 60, or even 90 days in a traditional home sale with real estate agents, we can close in a few days or a couple of weeks.