How to Sell your Omaha House by Yourself: A Pretty Short Guide
Thankfully, for most of us, selling a house is not a task you have to do too often in your life. I say, ‘thankfully,’ because unless your best friend is a realtor or agent in Omaha (who is going to forgo their commission for the sake of friendship), selling a home is not only an expensive process, but is usually a true pain in the butt as well. I’m guessing there are several reasons you landed on this page about ‘How to sell your house by yourself in Omaha, Nebraska’
With the banks getting stricter, it’s becoming more and more difficult for you, the seller. How? I’ll explain. Since the banks, and often-times the government, is providing the funds for the purchase, they are insisting that your property be in “perfect” shape. If your property and house are already in perfect condition, then great! But if your home needs any cosmetic or structural work, then get ready for a nitpicky list of repairs that are going to be required from you before the buyer’s loan is approved. Don’t give up yet though, whether your home is in perfect condition or in need of repairs, there are some options that could work for you.
– You may have little or no equity in your home and simply cannot afford the expenses and commissions involved in hiring a real estate agent.
– You may have plenty of equity in your property, but would rather save money by avoiding commission costs and selling your house by yourself.
– Foreclosure. You may already be in foreclosure, or can see it looming on the horizon, and need a way to sell your house quickly without having to pay closing costs and commission fees. If you are already in foreclosure, there is plenty of information on how to stop foreclosure and sell your home fast.
– You have no desire, and maybe can’t afford, to wait the lengthy amount of time (usually months and months) often required to sell a property in the Omaha region.
No matter your reason… options are available to sell by owner in the current Omaha housing market. Though, not only will you need to implement smart marketing strategies, but you will also need to have realistic expectations.
Keep reading for some helpful guidelines that are aimed to help you sell your Omaha area property by yourself.
Understand The Omaha Real Estate Market Like A Pro
You won’t get anywhere without first doing a bit of research on your specific area of the Omaha market. This includes, but is certainly not limited to, scrolling through the web and reading through real estate sites like Trulia, Eppraisal, etc, contacting a local realtor (or maybe even two agents) to get their opinion on what your house is worth in the current market, and do your homework about the different ways to price your house. Adequate research will enable you to determine a fair price for your home and prevent you from making some of the more common homeowner blunders.
Evaluate the Local Market
Not unlike the market research you conducted earlier, this time you are narrowing your research to the relatively small geographical area encompassing the area in which you live and any comparable homes nearby. Take a look at the number of homes selling in your area, what prices they are listed at, how do they compare to your own property, are there abandoned or foreclosed properties nearby that could have a negative impact on the price of your own home?
Does your property need repairs? How’s the paint on the exterior? What about the interior? Is the roof getting old? How is the yard and landscaping looking? Has the house seen better days? Could it use some updating? Never mind (for now) the costs of theses expensive repairs, each of these items, and a thousand others, will influence a buyer and the price they are willing to pay.
Moving on. Once you’ve figured all these details out, and gotten plenty of media (pictures, videos, etc of the home) to post, you need to figure out an asking price that is just right. Too high and it could simply sit on the market with no offers. The hard part is finding the ideal price where it brings in buyers who are willing to buy it quick.
Get Your House “Listed” On The Omaha MLS and Don’t forget to Market.
You have to be a registered real estate agent to list a house on the Omaha MLS, but don’t worry, there are plenty of realtors who will be willing to do so. The upside of listing your house on the MLS is that it markets it to thousands of potential buyers. The downside is that you’ll need to be willing to fork over a commission (usually 3%-6%) as a broker and agent fee if you use them to help find you a buyer, which defeats the entire point of selling by owner.
As an inexpensive alternative, you can always put ads in local magazines, newspapers, place signs alongside roadways, and tell your friends about it.
Does This Sound Like A Lot Of effort To Sell Your House Fast By Yourself?
Selling a house is never easy, and a lot of Omaha homeowners think that saving money is a certainty when they sell by owner. The truth is a little less comforting. A homeowner selling their own house could certainly, potentially, save money… if they are lucky. The unfortunate fact is that it can cost just as much, if not more, to sell on you own than via more traditional methods. Sound strange? Let me explain.
There are a few Extremely Important things to consider when selling a house.
- Are you great at marketing (or simply better than the competition)? Are you prepared to spend both the money and the time to correctly market your home? Seem like a small issue? Think again. Failing to create value for your house and up-sale its positive attributes can mean selling the home for 4-10% less than you could have if a professional had marketed it.
- Have you thought about the holding and opportunity costs?
While your house is sitting, waiting for a buyer, month after month after month, you are having to pay property taxes, mortgage payments, house insurance, cover the utilities, etc.
I don’t have to tell you how fast those bills add up. So, would there be some logic and financial sense to providing an interested buyer a lower price in order to close as quickly as possible and move on? It is certainly worth pondering and seeing if it makes sense for your own financial situation.
If selling your house quickly makes sense for you, and you would prefer to avoid the hassle and financial strain of having your house sit on the market and/or attempting to sell it yourself, consider selling it fast, for a good price, without waiting, without having to pay the costs of repairs, and without forking out your money on real estate commissions.
Investment companies are one example of an alternative method of selling a house if you would like to sell quickly. HouseFastCash, is one investment company in Omaha that buys local houses all the time.
This kind of company uses cash to make fast, no obligation offers. Offers will vary from company to company, but most offer fair prices and are a terrific way of avoiding the hassle of a traditional sell. They are usually able close on the date of your choice (saving you the thousands you would be paying out of pocket while the house sat on the market), while also paying all of the fees and closing costs. Also, selling through a company, such as the one mentioned above, they take care of all of the repairs, not only saving you the costs, but also the stress of having to deal with them yourself.
Bear in mind, these are investment companies, and, like any business, they need to make a living. But just because they won’t offer you the high listing price you may have asked for when putting your home up for sell yourself or with a realtor, doesn’t necessarily mean you are losing money. Since you are avoiding expensive holding costs, the costs of repairs, dealing with bad buyers, rising closing costs, and not to mention the 3-6% in real estate agent commissions, selling your Omaha Home quickly through an investment company, like HouseFastCash, can sometimes even save you money.
Whether you decide to sell by-owner to an investment company, to a private buyer, or through a real estate agent, always remember to consider your options, see what offers are out there, and make the decision that makes the best sense for you.
Trying to Sell Your Omaha House by Yourself?