6 Effective Steps on How To Sell a House by owner in Kentucky
The real estate market in Kentucky is doing extremely well. Housing prices have been on the rise for the past decade. There is no question that it is a sellers’ market.
Whether you own property in Louisville or different parts of Kentucky, you can take matters into your own hands by selling your house by owner. This home selling strategy has been around for years. It is required more time from you through this, but and be only beneficial and save you thousands of dollars when you go to sell your house in Kentucky.
What is Selling a House By Owner?
Selling a house by owner in Kentucky means that there is no real estate agent involved in the process. Everything falls on your lap. However, you avoid paying huge commissions and fees since you are handling the process yourself.
When you sell a home by owner, you work directly with a home buyer. Typically, experienced cash home buyers in Kentucky can educate you along the way during this process. Nowadays, selling a house is much easier than it used to be. Everything is done online and through email. You can even sign a contract through your smartphone. Since selling a property is much easier now, this strategy makes more sense to do. For homeowners that have thought that I need to sell my house by owner in Kentucky, review these 7 steps before starting.
Benefits of Selling Your Home By Owner
Before we dive into what steps you need to take to sell your house by owner, let’s review the benefits. It’s important to know why it makes sense to do this as a Kentucky homeowner.
You’re in Full Control
For homeowners that decide they want to sell their house by owner, they are in full control throughout the process. They decide everything. From went to show the property, to the final price, the homeowner is in control of these decisions.
If you have had a back experience with a realtor in the past, this home-selling strategy is for you. Of course, it’s helpful to have some time on your hands to handle each step of the process. Selling your house in Kentucky requires some effort but can be extremely fruitful.
Save Money: no realtor fees
Cash is king! Especially when selling a property in Kentucky, every dollar counts. Have you sold a home near Louisville in the past? If you have, then there’s a good chance you paid a hefty commission to a real estate agent.
When someone attempts to sell a house by owner in Kentucky, there are no realtor commissions. This means that you, the homeowner, get to save thousands of dollars from this process. That alone is why so many people sell their houses this way.
Selling a house in Kentucky without a realtor is becoming more fruitful for homeowners. As home values increase, so does the Commission price you would have to pay. Keep more money in your pocket by selling your home by owner.
At Your Own Pace
Speed is another huge benefit of selling a house by owner in Kentucky. You are in control of the entire schedule. Certain homeowners prefer to sell their property within three weeks. If this is the case, Cash Offer Kentucky can buy your house within that time frame and work around your schedule.
Other homeowners have particular dates and deadlines that require them to have a longer selling timeframe. Either way, you can go through this process at your own pace. As a homeowner this is key. Especially if you have lived in your house for many years, you probably need extra time to get things together and organize your items.
Steps on How to Sell My House in Kentucky by Owner
1.) Determine your price
The first step to selling your house by owner in Kentucky is determining the price that you want for your home. This will vary depending on where you live in the state. Not all cities within Kentucky carry the same housing value.
For starters, I recommend calculating how much debt you currently owe on your property. This can include the following items:
- Mortgage balance
- Overdue taxes
- Overdue water bill
- Hospital Lien
- Fines from the city or state
Once you know how much you owe on your Kentucky house, you can determine how much you need to sell it for. By thinking about price through this lens and working backward from what you owe, you can ensure that you make enough money from the sale of your home to make a profit. When you work directly with a cash home buyer in Kentucky, they can calculate the net profit you will make from the sale. Cash Offer Kentucky is To do this for any homeowner that would like help with it.
2.) Get the house ready to sell
Typically, when selling a house by owner in Kentucky, you don’t need to fix anything throughout the property. This is always the case when working with Cash Offer Kentucky. We buy houses in Kentucky as is.
As a homeowner, we make the process as easy as pie. This is the complete opposite approach when selling a house on the market. Instead, by selling it without a realtor, you avoid all the hassle of fixing the property up. You get to save thousands of dollars because of this. avoid fixing the roof or rewiring the entire house. When a person decides to sell my house by owner, they do not have to repair or renovate anything before starting the process.
3.) Market the property
Here is where you, the homeowner, must take some action. How will you receive cash offers for your house in Kentucky if no one knows you are selling it?
By marketing your property, you can let buyers in the area know that you are selling. You can do this in a variety of ways. For example:
- Post an ad in the Kentucky newspaper
- Go on to Craigslist
- Tell your neighbors
- Google “sell my house by owner in Kentucky”
The last of those four marketing examples is the simplest and easiest. By doing a quick search online, you can connect instantly with a Kentucky home buyer. Life does not need to be hard, especially when technology is on our side. You can check the reviews of each company and determine who will be the best fit for you to work with. Selling a house by owner can be done very quickly by using the Internet.
4.) Analyze Offers
Now, it is time for the exciting part. You have determined your price, prepare your house, and market your property. One of the final steps is to analyze the offers received.
Pro Tip: only consider cash offers
A cash offer makes the process of selling your house by owner in Kentucky much easier. This is because there is no bank involved. Cash is as liquid and as quick as it gets. If a home buyer is using a loan to purchase your property in Kentucky, the process can take months to complete. The bank must thoroughly vet these homebuyers’ financial history and status to ensure that they can actually pay for your home.
5.) Negotiate the sale
Once you have analyzed all the offers and separated the ones paying in cash, you can start negotiating. There is usually wiggle room for negotiation when it comes to buying and selling real estate. Don’t be afraid to ask for the price that you think you deserve.
Of course, it usually comes down to the renovation costs that the home buyer expects to pay once they purchase your property in Kentucky. That is the primary reason home buyers can’t pay more. Their costs are what they are. Construction costs, as well as material costs, continue to rise over time.
6.) Close the sale
The final step in the process of selling your house by owner in Kentucky is to close the sale. You have made it to the homestretch. Doesn’t it feel great?
It is finally time to make money from your house. Again, the benefit of selling your home by owner is that you get to schedule everything around your own timeline. That includes the closing date. After you have selected a cash offer and negotiated, you can wrap things up and officially sell your home.
By following these six effective steps two selling a house by owner in Kentucky, you can save yourself huge amounts of time and money. This strategy is becoming more and more common in today’s real estate market. Don’t be afraid to give it a shot. You may find that it is much easier than expected. Not to mention, that you will save thousands of dollars from the entire process.
Cash Offer Kentucky is a home buyer located in Louisville. Contact us today to learn about how we buy houses in Kentucky for cash. You can learn about our process and sell your house fast when working with us.