1. What is my house worth?

When selling your house it is important to be understand what your house will sell at on the housing market. To find the value of your house, you will have to look at comparable house sales in the area that your house is located. The area to look for comparable house sales is usually limited to a .5 to 1 mile radius to deliver an accurate value.

The comparable house sales that you will find in this radius will have to match additional criteria. It is important to find other houses that have the same amount of bedrooms and bathrooms if possible. The size of the houses matter as well, as a 2,000 square foot home is not comparable to a 1200 square foot home. You may be able to find the square foot of your home on the website of the county that your house is located in.

Most importantly, the sales of the comparable homes should be within the last 6-12 months as the market changes over the course of a year. Seeing the market data of similar houses like yours will give you an idea of what your house will sell at on the market, and give your more knowledge when making the decision to sell your house.

2. How much will it cost me to repair my house to resale condition?

When determining to sell your house on the market, or to a private investor, it is important to know how much it would cost to renovate your house. This would entail making your house appeal to what home buyers are looking for in the current market. In a recovering market, it is paramount to make your house stand out from the rest.

The formula to selling your house at retail price includes more work than normally anticipated. Replacing the carpet and flooring throughout the house, and painting all walls a neutral color are the starting items when renovating. Updating the kitchen with tile flooring, updated cabinets, and granite countertops are the major items. You may want to have a contractor or real estate professional estimate a price for this type of updating if you want to sell your house in a reasonable time.

There are a lot of homes for sale in the recovering market, and this gives home buyers many options when it comes to purchasing a home. Their first choice will be to purchase an updated house in the same area,  at near the same price as an outdated one. Understanding what buyers are looking for and the costs associated to get your house in that condition is important when making a decision to sell your house.

3. Sell your house with a realtor or accept a cash offer? What will give you the best value?

If your house needs little to no renovations, listing your house with a realtor will bring you the best value. It is hard for an investor to build value when buying a house that needs minimal work. However, if your house needs a moderate or more amount of renovations all options may be considered.

If you need to sell quickly, the option of having your house sold for cash in two to four weeks through an investor may be a better choice. You will avoid, multiple walkthroughs, realtor commissions, price reductions. Most importantly you will not have to make any repairs to the house.

Determine what is valuable to you. Is it valuable to have your house settled quickly? Do you want to avoid finding the right person to renovate your house, spending the money, and taking on renovation risk? If you answer yes to these questions then selling to an investor may be a more appropriate choice for you.