Relocation is a complicated exercise in coordination. We get local Louisville home sellers calling us or submitting their house info on this website every week saying “I’m relocating and need to sell my house in Louisville“. The great thing is that we’re able to help a good many of those sellers sell their house quickly (because we’re actively buying houses in Louisville, KY right now!).
There’s an insane amount of details to keep together, plus the stress of whatever is making you move in the first place – often it’s a new job or a sick relative, but the true need to move always comes with a dramatic change.
So how do you make the most out of a difficult situation?
Don’t Agonize – Organize.
You don’t want to be in a situation where you end up paying to own and maintain a vacant house for 2 years. That gets expensive and it doesn’t have to be that way.
Although the market is relatively stable right now in Louisville, things can change in the blink of an eye. We’ve heard some serious horror stories over the past couple of decades. Unless you’re filthy rich, you probably can’t afford to wait it out.
So how do you make the right choices when you’re relocating and need to sell your Louisville, KY house fast?
Relocating And Need To Sell My House Fast In Louisville… Your Options And Steps
First…
- Find out what your house is worth: To do this you can contact a reputable real estate agent or connect with us and we can give you a no cost no obligation valuation on your property. Once you know what the house may be able to sell for in the current market… that sets the basis for how long you may or may not be able / willing to sell the house.
- Decide how fast you need to sell your house after you relocate: This is a biggie. I’ve seen professionals who moved out of state for a job who had their house on the market for over a year before selling it for a much much lower price than they hoped. Decide how fast you need to sell your house… and how long you’re willing to keep making 2 mortgage payments, insurance payments, etc.
- Find a solid real estate agent BEFORE you start packing boxes: Get the ball rolling early so you don’t waste any time. Every month that you wait or every month that it takes to sell the house… costs you money. Or if you don’t want to use a real estate agent to sell… we are a reputable local house buyer and we’d love to make you a fast-fair all cash offer. Just fill out the form through this link to get started >>
- Calculate the value of selling your house fast vs. “waiting it out” for a dream price: We all want to sell our houses for as much as possible. But one thing many people forget to do is come up with the $ amount of how much it costs you to hold onto this house. The costs involved include the mortgage (which if you’re still within the first 10 years of the mortgage, the majority of your payment interest and not hardly going to principal at all), insurance, taxes, maintenance, etc.Lets say you want to sell your house for $200,000… and your mortgage payment is $1,200/mo, taxes $200/mo, $100/mo for insurance, and $100/mo for maintenance (lawn maintenance, repairs while you’re gone, etc.).Those expenses add up to $1,600/mo in “non equity building” expenses.If it takes you 7 months to sell that house through a real estate agent for that $200,000… it cost you $11,200 in DIRECT “holding costs” + you had to pay $12,000 in real estate agent fees (assuming 3% for the buyers agent and 3% for the sellers agent).Totaling $23,200 in LOST money. That doesn’t even account for the value of your time, your stress in thinking about that property sitting on the market, the opportunity cost of what you could have been doing with that extra money during those 7 months, etc. So the real cost to you was likely closer to $30,000.But, what if you were to sell your house next week and avoid all of that?Even if you sold for a discount below the retail price (lets say… $175,000)… you’re still ahead of the game by selling the house NOW at a discount to a home buyer like our company vs. 7 months later at full price (and paying holding costs and real estate agent fees).Make sense?
- Take action!: Whatever you decide… decide and take action. If you want to go the real estate agent route, great! Find a reputable local Louisville, KY agent. If you’d rather not have to wait and not have to pay real estate agent commissions… then a viable option may be to sell your house to us 🙂
If you’ve got a lot of time on your side and a really great property, you might want to test the market by offering it out at a high price. There’s a small chance someone might just fall in love and be willing to overpay – people do crazy things for love.
Most properties are pretty average, in reality. They tend to be like the other houses around them, in the same way that people who live near each other tend to have a lot in common too. So unless your property is truly exceptional, as in magazine-quality extra-special, you won’t capture the most money in the market by pricing at the highest point.
You can also win by marketing your property for rent and sale at the same time, just to see what happens first. You have to maintain control of the process, which can confuse even seasoned real estate brokers.
In certain situations, we may partner with property owners to help secure lease option agreements where highly qualified purchasers rent the property for an agreed time before buying.
In other cases, we may help renegotiate a loan, help make monthly payments or conduct a short sale with a bank.
We love helping people solve complicated problems.
Creative solutions can bridge the gap to get you where you need to be.
Who Is Louisville Cash Home Buyers And How Can We Help You If You’re Relocating And Need To Sell In Louisville?
We’re investors. We support our families and beautify neighborhoods by buying houses from Louisville home owners who need to sell fast for one reason or another.
The types of sellers who tend to work with us include people who…
- Need to sell fast (we can close in as little as 7 days if you need us to)
- Don’t want to hassle with listing a property with an agent
- Don’t want to pay real estate agent fees
- Can’t sell their house for one reason or another (we buy houses in as-is condition)
- … or a variety of other reasons
But we’re passionate people, and we believe in the Louisville community.
We’re honest and straightforward.
We’ll quote you a fair price, and we can close fast with cash.
If you’re prepared to wait and can hire professionals to help, you can manage the sale of your property from a distance. In certain circumstances that risk can pay off.
We’re happy to help you find answers to your toughest questions about your Louisville real estate, so please feel free to call us at (502) 324-3080 and chat with us anytime.
Video Transcription
Jackson: Hey guys, this is a Jackson with the Louisville Cash Home Buyers. Hope you are doing well today. I wanted to make this video to help out anybody that’s relocating from Louisville to a new city.
So I know our city, it’s growing steadily. There’s a lot of economic development going on. We’ve got Butchertown that’s being transformed with the soccer stadium, the botanical gardens, things like that. So we’ve got a lot going on in the city, but I know there’s a lot of big corporate jobs and families get moved around and things like that, or people have to move for their family. So, we hate to see you all leave, but we do want to help out those that have lived here in the community and we want to give back. So whether you use our services or not, I want to lay out a couple of different options for you all to sell your home, to save you time, and also give you the best ROI.
Our company’s Louisville Cash Home Buyers and you can find the article on the website, “I’m relocating and need to sell my house in Louisville”,and there’s five steps there to help lead you down two different paths.
So again, we want to help you guys out the best we can and I think this article will assist you all moving and help out your families through what can be a stressful time. I know it’s exciting for you all to move, but I think it can be really stressful and if we can help out in any way, we’re happy to do so here at Louisville Cash Home Buyers.
Step one, obviously find out how much your house is worth. Zillow does a great job. It gives you a really good estimate, but the real estate agents’ knowledge of the market is uncanny. Find a trusted real estate agent if you want to go that route and if you don’t have a real estate agent right now that you work with, I have friends and family who do an incredible job for a couple of different companies here locally. If you need someone, I’m happy to pass along their information to help you guys out.
The other route is going through a guy like me, a real estate investor. What we do is we pay cash for the property and we’ll come out, we’ll look at the property within 24 hours of whenever you book the appointment, and we can give you a ballpark offer. With our offers, we’re not going to come back and say, “Oh well we need to fix this, this and that, and we’re actually, we can only pay you this much now.” Whatever we offer you up front is going to be your offer and you’re going to get paid cash within one to two weeks after closing. So, that’s just a couple of different routes you’ve got to consider.
That leads into step number two. So step number two, decide how fast you need to sell your property and this is probably the biggest factor, whether you’re going to go with a real estate agent or with the cash investor like myself. So if you have plenty of time, if you can pay two mortgages or money’s not an issue, I would go with the real estate agent. Or if your company’s helping you cover the first six months of your move or whatever, maybe the real estate agent route is probably better for you.
Also, if your house is in great condition and a great location here in Louisville, you’re going to be able to sell the house pretty quickly. The market is just, it’s awesome right now. It’s booming. It’s a sellers market. You’re going to be able to sell your house for pretty much whatever you offer or really close to it. You will have to pay some agent fees, 3% to the buyers and 3% to sellers agent, but you’re probably going to make more money that way if your house is in great condition and a great location to sell it. To go through an agent, then you would need to go through a cash investor like myself, nine times out of 10.
But if your house isn’t in a great area or even if it is in a great area but it needs a lot of work, maybe the roof, the windows are old, you’ve got some things that just need to be fixed up, a cash investor is a good route to entertain.
So obviously we’d be able to to check it out and give you all an offer. It’s probably going to be lower than what the agents can offer, but we do close a lot more quickly than through a real estate agent.
So step number three, going onto that. If you’re going to find us a real estate agent, find a solid one before you start packing boxes. So what we mean is get the ball rolling early. When you find out that you need to relocate for whatever reason, go ahead and find a real estate agent or find a cash investor like ourselves because time is money for you guys, right? The quicker that you can get through the process, the more money that you’re going to keep in your pocket.
Going on in step number four, calculate the value of selling your house versus waiting it out for a dream offer. What we mean by that is looking at how much the house house is worth and then look at how much your dream offer would be and then obviously time is a huge factor again.
Your dream offer probably won’t come for a couple of months. You might need a couple of people to bid out each other, whatever it is. You may need to make some changes, some rehabs to the house to get that higher offer, but at the end of the day, is it worth it to make all those rehabs to basically get whatever you put in and those rehabs.
We actually wrote out an example for you guys and this’ll kind of give you a good idea of what you want to do and again, time is the most important thing for you all.
Let’s just say your house is worth $200,000. With that, your typical mortgage is going to be $1,200 and a lot of that is interest, if you’ve only had the house for 10 years less. If you’ve had it for more you’re starting to get some equity, but in the first 10 years, a lot of is just paying interest. You’re not making a lot of equity. Let’s just say, for this situation, it takes seven months to sell your home because you’re going for that dream offer.
Seven months, that’s probably the worst case scenario right now with Louisville, with how hot the market is. But let’s just say it takes seven months. If it’s $1,200 a month in mortgage, you’re probably paying $200 a month in taxes, $100 a month for insurance, and a $100 a month for maintenance.
With that, it’s probably about $1,600 a month. Somewhere in there, more or less. You times that by seven months, that’s going to be around $11,000 to $12,000, somewhere in that ballpark that you’re paying on those holding costs alone, and again, that’s not a lot of equity if you’ve only had the house for less than 10 years.
Then also if you’re going to go the real estate agent route, you’re probably going to have to pay 3% to the buyers agent and 3% to the seller’s agent. Again, consider that because that would be another $12,000 if you sell the house for 200. At the end of the day, you’re paying around $22,000 to $24,000 somewhere in there if you’re holding it for seven months. And think about the time. Do you need to sell it quickly? Do you need to sell it or do you not need to sell it? Can you wait on the best offer?
Times the biggest factor, and again, if money is not a problem for you, you probably just want to go the real estate agent route. If your house is in a good condition, good location. If you do need the money right away, less than a month, then you probably should entertain a cash offer from someone like me because we can close again within one to two weeks and we’re going to take care of everything. We’re closing before the rehabs even going on, so you’re not going to have to pay for that.
Number five take action. With those steps given, decide how much time you have, what the house is worth and what is the best route for you guys. Do you want to go ahead and just work with a real estate agent or do you just want the cash today?
You got to decide that for your family. What’s the best decision for you all? Do you need to just get on with your life and get onto the next house in the next city? Or can you take things kind of slow and be patient?
I hope this helps. Those five steps should help you guys in determining whether you want to use a real estate agent or whether you want to use a cash investor like myself. We try to help the Louisville community as much as we can. We’re sorry to see you all go, but if you think this is going to help anybody else out, please share it like it.
If we can help you all out in any other way, let us know, message us on Facebook, go to our website, louisvillecashhomebuyers.com. Our phone number is (502) 324-3080. You can reach us any time. We’ll get back with you either right away or within 24 hours.
Guys, hope this helps with your relocation. Best of luck and hope to see you all move back to Louisville someday. See you guys.