Six Practical Tips to Successfully Sell Your Home as an Owner in Long Island
Are you planning to sell your home fast due to reasons like job relocation or financial problems? If you are put off by the high commissions demanded by real estate agents, you can take the ‘for sale by owner’ (FSBO) option. If you are living in Long Island, you can sell your house to direct buyers or companies that literally say, “We buy houses in Long Island.”
Long Island is a beautiful island municipality in New York. It is the most populated island in the US, with a census-estimated population of more than 7.80 million people in 2017. This island has a vibrant real estate market. Based on data from Miller Samuel Inc. and Douglas Elliman Real Estate, median prices for low-end homes rose by 9.5% in the second quarter of 2019. However, the prices for premium properties dropped by 2.1%.
Tips For Selling Your Home Through the FSBO Option
As a direct seller, you may not sell your property at its maximum value. However, the possibility of selling at your demand price is high in a desirable market like Long Island. Here are some tips you may consider:
- Sell at a fair price or on a discount – If you want to sell your property fast, hire an appraiser to determine its fair market value and offer it on that level or slightly lower.
- Create a complete listing – When you advertise your property, put attractive photos and detailed descriptions to entice potential buyers. You can hire the services of a professional house photographer to get the best results.
- Take every viewing request – Avoid turning down any showing request to increase your chances of a sale.
- Disclose the real condition of your home – Reveal all relevant information about your property. Answer all the questions of your prospective buyers honestly to avoid possible legal issues in the future.
- Hire a competent real estate lawyer you trust – Look for a licensed property lawyer to assist you in the negotiation process to protect your interests. The attorney’s fees you will pay at the closing of your deal will be worth it.
- Sell to a cash home buyer – If you want to sell fast, you may offer your house to cash home buyers. One benefit of this option is that no matter what condition your house is in, they will say to you, “we buy houses in Long Island.”
Benefits of Selling Your Property to Cash Home Buyers
There are several advantages of selling your house to cash buyers if you agree on the price. Here are some of them:
- Less time and effort on your part since you will not be taking photos and putting them in the property listing.
- You can do away with contingency clauses.
- They will buy your property on an as-is basis, and you will receive the payment in a few days.
- If you are renting out your home, your cash buyer will handle everything with your tenant, including potential lawsuits.
- Your transaction will be a private type of sales.
There are several options you can consider when selling your home. However, you need to evaluate all of them carefully before making a decision. Whether you will be selling to individual or cash home buyers, make sure you are dealing with reputable parties.
