Cash For Houses In Omaha, Nebraska – Is it right for you?
You’ve seen the signs at almost every street corner or off-ramp, “Cash for houses in Omaha, Nebraska.” Some of these are cartoonish signs and others might even be handwritten, nailed to a light pole. Some cash for houses signs makes claims they buy houses in any condition and for competitive rates and all cash.
If you need or want to sell your home, this looks like the perfect opportunity to sell your house quickly in Omaha, Nebraska, Lincoln, Nebraska or Council Bluffs, Iowa without the headaches and the additional cost of listing your house with a real estate agent plus preparing your property for showing.
Is Cash For Houses In Omaha Right for You?
The Cash for Houses in Your Target Market
The real estate investors putting up these signs are investors seeking quick, undervalued properties to capitalize on in Omaha, Nebraska. Putting signs up are one way to find potential sellers, it takes a lot of time researching for and researching distressed properties and hones in on homeowners wanting to sell quickly.
The key target market includes homeowners in some tough financial situation. This includes people facing bankruptcy, divorce, lost job, foreclosure, medical issues, inherited property or damaged properties in complete disrepair in and around Omaha. They also hope to find properties transferring ownership from probate sales, vacancies and even existing listing that are about to expire.
The Thoughts Process Behind the Offer
Because professional real estate investors in Omaha, Nebraska are seeking properties for quick turnaround and profit, they want motivated sellers and properties in distress that have distressed property that can be rehabbed quickly for resale. As the seller, this may or may not be your best option to sell your house. The buyer is looking to ease your burden quickly. They know you have some emotionally binding stressor that requires a quick sale.
As a result, the offer might be for the remaining mortgage balance irrespective of the value of the home. At best, investors want properties at wholesale pricing, which is often below fair market value by at least 30 percent. The advantage to the seller is that they will be offered a fair all-cash offer with the ability to close quickly (7 to 10 days) or close on your terms. There are no expenses to the seller. NO commission to be paid, no closing costs, repair cost to get the house ready to sell or holding costs while the house is on the market.
Consider Your Position Before Negotiating
Keep in mind there is a cost to keep a home. Everything from mortgage payments, insurance, and property taxes and well as the ongoing maintenance such as lawn maintenance, snow removal, miscellaneous repairs that come up that must be paid while you own the home. The longer you delay a sale, the longer your costs continue to add up and you will continue to pay for utilities, maintenance, upkeep, etc.
Do the math then consider the average time it takes for homes to sell in your market. In some instances based on how you price your house, it could be on the market or months. Based on average pricing, will you make up the difference in the cost of maintaining the home for the extended timeframe?
It may also be urgent to sell because of an impending foreclosure or estate tax cash requirement. Consider all of these factors as you begin to look at offers from buyers.
Maximizing the Sale Value
It doesn’t take a lot of research to get an idea of your property’s fair market value. If you really want to know, pay a couple of hundred dollars for an appraisal or simply speak with a local realtor who will give you an idea of the value of your home in its current condition.
When coming up with a value for your house it is important to take the emotion out of the equation. The potential buyers will be looking at multiple houses and will have not have an attachment to your house. They will be looking at multiple houses and will be looking for a house where they can envision their family spending Thanksgiving, Christmas, etc. together. Value your house based off of like houses, square footage, number of bedrooms, number of bathrooms, does it have a garage. Make sure it is in the same neighborhood and the sold dates are within the last 60 to 90 days.
Once you know what the estimated value is based on current market conditions, look at what can be done quickly and inexpensively to improve the property thus increasing the value. If the majority of the houses have solid surfaces, in order to get top dollar for your house you may want to consider doing some minor updates and add solid surface counters. If you want you home to sell faster one great way to is look at the house in the area on seeing what amenities these houses have. You will then want to add a unique upgrade to your house that no other house has.
Do what the investors would do. These include cleaning the home inside and out; make sure windows and screens sparkle. Remove all weeds in the landscape and trim trees and bushes back. Replace carpet, tile the bathroom and kitchen and repaint the inside and out. First impressions mean everything when selling your house fast in Omaha, Nebraska. You need to have the potential home buyer putting themselves and family in your house as a family having fun.
Investors like Harter Investments in Omaha, Nebraska who are home buyers in Omaha, Lincoln and Council Bluffs will often redo a kitchen and put in a new appliance package, thus making their margin on the property obtained at 30% below market value. You don’t need to do this, but if you have the time and money to do so, it might be worth the investment. If you have questions reach out to us.
The bottom line is you are not in a hurry to sell your house and you do not need to sell your house fast in Omaha, Nebraska, you can wait for a more traditional buyer to come along and give you an offer that puts some money in your pocket.