SELLING RENTAL PROPERTY IN SANTA BARBARA
Rental properties can be one of the best investments you’ll ever make, but selling it may be an even better idea. If you are debating whether or not to sell your rental property in Santa Barbara, then hopefully we can help answer some of the questions you may have.
When to Sell?
Is it better to sell your house today or in six months? Maybe it’s smarter to sell it in a few years? The market can be complicated sometimes, but selling your rental property today may be your best option.
Selling today will allow you to cash in on your investment, and you can take that money elsewhere to a new investment or use it to get back on your feet. Also selling now may allow you to be able to pull away from the title of “landlord”. No more late night alarming phone calls about needing to fix the furnace or a broken pipe. Not only do you cash in on your rental property when selling, but you are freeing so much of your time and easing your burden of not worrying about tenants.
Should I Repair the Home?
Repairing your home is always a good idea when it comes to appeasing the eye of a potential buyer. But you have to be careful because repairs usually cost more than the home will value for once they are made. This means that you spend more money than it’s worth to fix up the place.
The Simple Dollar goes into more detail about this and points out that renovations cost more than you paid for the home usually. Keep this in mind when deciding how you want to go about selling your rental property.
Should I Hire a Realtor to Sell the Home?
Hiring a real estate agent to sell your home for you is nice in some ways, but be careful. The reason why it may seem ideal is that they have the proper convenient resources. They can list your home on the market for you, and they will be there for the whole selling process.
But, since the home was rented out so many different times it may be hard to find an interested buyer. Your agent may request that you make repairs and renovations, and this can leave you without any savings as stated above. Another thing to consider with a realtor is the high commission fees they charge.
They have the potential to not only sell your home for what you were hoping, but to also take a large chunk of the sale once your property sells. The economist lays it out perfectly. Not only do realtors “rip you off”, but they are just unnecessary middlemen.
How to Sell?
By now you’re probably feeling defeated trying to decide which approach to take when selling your rental property in Santa Barbara. Don’t worry. This is why we are here to help you. We are cash buyers in Santa Barbara.
What is a cash buyer you ask? We purchase homes for cash in a short seven days. We already have the cash ready for you so you can avoid realtor fees, expensive renovations, and get the quick sale you desire.
Call us today at 805-250-4520 and we will come out and give you an offer the same day.