Already spending the profits in your imagination for a home you have just listed for sale in Greenville SC. We all get excited when we are ready to sell, but have you taken into consideration all the money you’ll need on hand before the house ever sells? Or the potential amount of money it costs while your house sits on the market waiting to be sold?
It can be expensive to hold your property during the listing process. If you’re in a hurry to sell for personal or financial reasons, the wait can be extremely stressful. If you’re already struggling with your bills, then spending money to prepare for showings by touching up the paint and updating your decor, staging the home, and marketing expenses may be hard to deal with. Today’s standards for online listings include hiring professionals for drone footage and high-quality digital photography.
There are many reasons homes may spend an extremely long time on the market. Perhaps the buyer’s financing fell through with mortgage rates currently topping 5%, the house is in a distressed condition, the listing price is too high, or the property is out dated in comparison with the type of property buyers are searching for, or it doesn’t conform with the surrounding properties and stands out like a sore thumb. However, no matter why your home is empty and lingering on the market, the longer it is listed, the less the final sales price is likely to be. So read on as we explore how much your empty house in Greenville SC is really costing you.
Monthly Expenses
In addition to your mortgage payments, your empty house in Greenville SC is also costing you in utilities each month, and your agent wouldn’t appreciate it if they couldn’t turn on the lights during a showing or the house is swampy hot in the summer. Unfortunately, when you list with a real estate agent, the one thing they can’t provide is a closing date, so these charges could continue for several months, and take money out of your pocket. By selling directly to House Hub Real Estate Solutions instead of listing, you can stop the slow leak of funds for continual monthly utilities; we offer guaranteed closing dates, usually within weeks.
Insurance and Taxes
Keeping property insurance and taxes current is another expense your empty house in Greenville SC is costing you. The taxes owed will be prorated and taken out at closing; you can calculate this amount by dividing the total annual bill. Naturally, you will need to keep your homeowner’s insurance in place during the listing duration. Depending on the amount still owed on an existing mortgage, 80 percent or more, you will need to add PIP private mortgage insurance to your tally of holding costs. Working directly with a local Greenville cash home buyer is another option that will allow you to pay your taxes off and end the ceaseless insurance payments when selling your home in Greenville SC.
Repairs
If your home is in need of some obviously visible repairs, your empty house in Greenville SC is really costing you more than you could imagine. Buyers are scrolling by listings at lightning speed, and you need to catch their attention with your marketing. If you can’t afford to make necessary repairs and the home’s condition is clearly visible in your listing photos, you aren’t likely to get many offers. In this case, any offers you receive are very likely to be far below your home’s actual market value.
When it comes to starting repairs on the house, especially if it is an older home, it can be highly stressful and become very costly because you never know just what you may discover as you dig deeper into the project. As an alternative option, we’re ready to buy your home for cash in as-is condition. We relieve homeowners across South Carolina of the risks of making repairs to their property and help them to keep more money in their pockets.
Maintain
The basic maintenance of your empty house in Greenville SC is another often overlooked expense. If you made a long-distance move for work or family reasons, you might be paying to travel between residences, which is costly and stressful. You may be paying to have your property watched over, with regular checks for signs of trouble and care for your landscaping.
Theft
We’ve unfortunately have had to deal with this first hand so we know the aggravation and frustration with having the property looted while it is vacant and waiting to be sold. While you maybe thinking to yourself, there is nothing in the house to be stolen… don’t under estimate criminals. Empty houses are easy to spot, and can be a target for shady people who may come in and steal appliances, copper pipes, or just decide they find joy in trashing an empty home. This in turn could lead to significant costs to repair and further delay the sale of the home.
The Bottom Line
When you add up the holding costs, it may very well make sense to sell your vacant home in Greenville SC directly to a local Greenville cash home buyer and keep more of your profits. You’ll save even more by working with us because we never charge commissions, and you won’t pay any closing costs. In addition, our transactions at House Hub Real Estate Solutions are straightforward and fully transparent; there are never any hidden fees; we show every figure used in our offer, which you’ll agree is a fair market value. We won’t pressure you, we are proud of our work helping our community and neighbors here in Greenville SC, and we want you to feel good about the deal long after closing. Call House Hub Real Estate Solutions at 864-272-5400.