Unlocking the potential for maximum profits when selling your home doesn’t have to be a scary endeavor. By harnessing some key strategies, you can tap into highly effective methods to make more money from the sale. But what exactly are these incredible strategies?
This guide aims to shed light on 5 highly important aspects that promise boosted financial gains when you sell your home. Plus, they’ll provide some peace of mind during this life transition.
5 Effective Ways to Make More Money from Selling Your Home
We all want to sell our homes for more money, but what are the best ways to keep more money in your pocket? Here are 5 effective ways to make more money from selling your home.
1. Utilize a Flat Fee MLS Listing Service
It’s a good idea to list your home on as many MLS websites as possible for maximum exposure, but that can take a lot of time and money. Not only that, but you typically need a real estate agent to get the most out of these sites, meaning you’ll have to pay them a commission fee.
Fortunately, services like Beycome can do all of that and more for a flat fee. With Beycome, it’s possible to close without an agent because they provide you with legal forms and real estate support. Depending on the cost of your home, you could save thousands at the time of sale.
2. Turn Your Home Into a Turnkey Rental
Investors love the concept of turnkey rentals because they don’t have to put any money into the property before they start finding tenants. Separating each floor into different apartments or creating a separate entrance for the basement are a few ways to turn a home into a rental.
You could even start flipping and selling homes as a business, although that will require you to create an operating agreement and other documents if you’re incorporating into an LLC. Either way, make sure to build kitchens, bathrooms, and entrances/exits for each apartment unit.
3. Sell Your Home at the Right Time
Selecting the right time to sell your property is key to maximizing your profits. For instance, spring typically witnesses higher buyer activity across most markets. This means that listing your home during this period might result in a quicker sale and at a better price.
However, remember that real estate trends can vary depending on your local market condition. It’s always a good idea to consult with an experienced local realtor who understands these fluctuations. Timing it right can definitely help you get more money from selling your home.
4. Consider Low-Cost, High Reward Renovations
Before putting your home on the market, consider making low-cost improvements that could significantly increase your property’s appeal. A fresh coat of paint or upgrading bathroom fixtures can make a significant visual impact, often leading to a higher selling price.
Potential buyers tend to appreciate well-maintained homes, so pay attention to smaller details like replacing worn-out knobs or fixing squeaky doors. Keep in mind that it isn’t about executing pricey renovations but conducting meaningful upgrades effectively for a much lower cost.
5. Negotiate Based on Contract Contingencies
It’s tempting to go with the highest offer, but you need to be careful. Buyers who typically make high offers will have contingencies in their contracts that protect them if their own home doesn’t sell or they can’t qualify for a mortgage. There are also inspection and market contingencies.
To avoid losing an offer, negotiate the buyer out of certain contingencies for a lower price in return or get a lower-priced offer with no contingencies. If the sale falls through, you’ll lose money, so it’s much better to bet on a sure thing than a pie-in-the-sky purchase offer.
In Conclusion…
It’s time to take charge and set the stage for a successful and incredibly profitable home sale. Knowledge is power, and now that you’re armed with these effective strategies, you’re well on your way to making more money from selling your home than you initially imagined.
Unlocking the potential for maximum profits when selling your home doesn’t have to be a scary endeavor. By harnessing some key strategies, you can tap into highly effective methods to make more money from the sale. But what exactly are these incredible strategies?
This guide aims to shed light on 5 highly important aspects that promise boosted financial gains when you sell your home. Plus, they’ll provide some peace of mind during this life transition.
5 Effective Ways to Make More Money from Selling Your Home
We all want to sell our homes for more money, but what are the best ways to keep more money in your pocket? Here are 5 effective ways to make more money from selling your home.
1. Utilize a Flat Fee MLS Listing Service
It’s a good idea to list your home on as many MLS websites as possible for maximum exposure, but that can take a lot of time and money. Not only that, but you typically need a real estate agent to get the most out of these sites, meaning you’ll have to pay them a commission fee.
Fortunately, services like Beycome can do all of that and more for a flat fee. With Beycome, it’s possible to close without an agent because they provide you with legal forms and real estate support. Depending on the cost of your home, you could save thousands at the time of sale.
2. Turn Your Home Into a Turnkey Rental
Investors love the concept of turnkey rentals because they don’t have to put any money into the property before they start finding tenants. Separating each floor into different apartments or creating a separate entrance for the basement are a few ways to turn a home into a rental.
You could even start flipping and selling homes as a business, although that will require you to create an operating agreement and other documents if you’re incorporating into an LLC. Either way, make sure to build kitchens, bathrooms, and entrances/exits for each apartment unit.
3. Sell Your Home at the Right Time
Selecting the right time to sell your property is key to maximizing your profits. For instance, spring typically witnesses higher buyer activity across most markets. This means that listing your home during this period might result in a quicker sale and at a better price.
However, remember that real estate trends can vary depending on your local market condition. It’s always a good idea to consult with an experienced local realtor who understands these fluctuations. Timing it right can definitely help you get more money from selling your home.
4. Consider Low-Cost, High Reward Renovations
Before putting your home on the market, consider making low-cost improvements that could significantly increase your property’s appeal. A fresh coat of paint or upgrading bathroom fixtures can make a significant visual impact, often leading to a higher selling price.
Potential buyers tend to appreciate well-maintained homes, so pay attention to smaller details like replacing worn-out knobs or fixing squeaky doors. Keep in mind that it isn’t about executing pricey renovations but conducting meaningful upgrades effectively for a much lower cost.
5. Negotiate Based on Contract Contingencies
It’s tempting to go with the highest offer, but you need to be careful. Buyers who typically make high offers will have contingencies in their contracts that protect them if their own home doesn’t sell or they can’t qualify for a mortgage. There are also inspection and market contingencies.
To avoid losing an offer, negotiate the buyer out of certain contingencies for a lower price in return or get a lower-priced offer with no contingencies. If the sale falls through, you’ll lose money, so it’s much better to bet on a sure thing than a pie-in-the-sky purchase offer.
In Conclusion…
It’s time to take charge and set the stage for a successful and incredibly profitable home sale. Knowledge is power, and now that you’re armed with these effective strategies, you’re well on your way to making more money from selling your home than you initially imagined.
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