Rental properties can be one of the best investments you ever make, but selling it may be a better idea. If you are debating whether or not to sell your rental property in Utah, 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 is smarter to sell it in a few years? The market is very complicated right now, 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 help get you back on your feet. Also selling now may allow you to be able to pull away from the title of “landlord”. No more late 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 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 you spend more money than it is 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 always 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 will be there for the whole selling process. Just be careful because 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?
You are probably feeling defeated right now trying to decide which approach to take when selling your rental property in Utah. No worries, this is why the Enlight Homebuyers team is here to help you. We are cash buyers. What is a cash buyer? 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 801-939-0123 and we will come out and give you an offer the same day.
