10 Important Qualities to Look For When Choosing a Cash Home Buyer

Man Handing Cash Home Buyer Thousands of Dollars For Keys in Front of House and Sold For Sale Real Estate Sign.

The time it takes to sell a home varies. It all depends on many factors such as receiving a good offer, paperwork, and closing the deal. When you work with an El Paso cash home buyer, you don’t have to worry about working through so many steps. In fact, a good cash home buyer is one that will do most of the work for you. 

If you have never worked with a cash home buyer before, it is important to know what makes a reputable and trustworthy team. We go through some factors to keep in mind when you search for a cash home buying business. 

Familiarity with Your Area 

Before making a final choice, you should narrow your options down to a cash home buyer that is familiar with the area you live in. When looking up buyers, you may want to go as far as using “near me” in your search, just to play it safe. The more they know your area, the better price they can offer. 

Ideally, They Have the Experience to Go With their Name 

Because the real estate market is a bit messy right now, cash home buyers are coming up left and right. This is where you have to be careful. When it comes to any business, you always want to look for experience. It is especially important to work with a company that has experience considering the current climate of the real estate market. 

Their Reputation is Solid 

While doing your research on cash home buyers near your area, don’t be afraid to read through reviews and customer testimonials. You can learn plenty about a business by simply reading through their information and references. Needless to say, you want to go with a cash home buying business that has tons of positive reviews to its name. 

Local Businesses Tend to be Best 

Cash home buyers should be involved in the community you live in. Most cash home buyers are expected to know the past and present conditions of one’s local real estate market. With a wealth of knowledge on a single community, you can rest assured that you’ll receive better service and business overall. Local businesses are preferable in this case. 

They Work through a Simple, Straightforward Process

The simpler a business process is, the better. If your cash home buyer asks for several amounts of documents, paperwork, home tweaks, or a bunch of other tasks, you probably won’t be able to get your home off your hands as fast as you’d like. Buyers who require you to sign a bunch of paperwork with legal jargon are usually untrustworthy. 

They Will Take Your Home As-Is

The whole point of working with a cash home buyer is that they will take your home off your hands right away, no matter what the condition of your home is. A cash home buyer that expects you to clean up your home and make repairs might as well be a real estate agent! This would only be worthwhile if they were to offer more money but that’s usually not the case. 

They Provide a Reasonable Cash Offer  

Once you have chosen a cash home buyer you would like to work with, you have to make sure they are offering a reasonable price or the best price possible. This is what separates cash home buyers from the more traditional real estate route. If you feel that they are not holding up their end of the deal, it’s time to move on and find another cash home buyer. 

No Hidden Fees

If a cash home buyer does require some fees, these should be done upfront. An untrustworthy cash home buyer is one that will charge a client with processing, administrative, and other fees with such names. You should never have to deal with hidden fees, especially when the real estate market is already as difficult to navigate as ever. 

Honesty and Transparency

This is something you should be looking out for when you begin to consult with a cash home buyer. Honesty is always the best policy, no matter who you find yourself working with. If a cash home buying business cannot be upfront with you or is avoiding giving you requested information, this goes to show they may have something to hide. 

They Will Cover Closing Costs 

Almost always, a good cash home buyer will cover the closing costs for you. Should they fail to do so, this is something to bring to their attention right away. A cash home buyer who does not offer closing costs usually operates on the cheap end or is strapped for cash. A reliable cash home buyer will sell your home fast and are in a solid position where they can cover the closing costs without any concerns. 

Work With a Reliable Cash Home Buyer, Today!

When you choose El Paso Cash Home Buyers, you can expect to work with a team that will give you a fair offer, from start to finish. With us, you don’t have to worry about any disruptions, we’ll get your home off your hands right away. Contact us to get started. 

8 Factors that Could Increase Your Property Taxes 

calculating property valuation.

There are many factors that can come into play when paying property taxes. Some homeowners think that if their home value drops, their property taxes drop as well. This is rarely the case. In fact, many of these same homeowners have seen their property taxes gradually increase over the years. Why may that be? There could be several reasons why ranging from more home sales in the area to changes in local or state budgets. To better understand how property taxes and property values are affected, we discuss the main factors at play. 

Home Improvement Projects 

Big or small, home improvement projects trigger reassessments to one’s property value. Home improvement projects are actually one of the main factors that drive a high property tax bill. For example, if you expand your home or add more square footage, it boosts your home’s property value and you can expect a bigger tax bill when your home is reassessed. Homes are reassessed every couple of years, depending on where you live. 

An Increase in Home Sales in Surrounding Areas

Property tax bills are also found to go up when sales are higher in certain neighborhoods. This is because a neighborhood proves itself to be desirable and high in value, therefore your property and surrounding homes will be affected. For the same reason, nearby construction causes your home’s value to go up as well, especially when recreational areas are in the works.

Changes in State or Local Budget

When the state or local government brings change to fund a public service, your property tax assessment may reflect these changes. Some acts of public service include investing in public school systems, improving local roadways, and other related projects. Even if you don’t use these services, there still lies the possibility of paying for them in property taxes. The thing is, everyone who is affected by these changes has to pay taxes just like you. 

Supplemental Tax 

A supplemental tax covers the difference between the assessed value of a property before you bought it (if it has been previously owned) and the new assessed value, which is determined when the property is sold to you. This supplemental tax is issued to homeowners typically in their first year of living in their property. There can be a point in time before this tax kicks in, so it could add an increase to your taxes months after buying a home. 

A “No Visitors” Policy 

As the owner of your home, you don’t have to allow a tax assessor inside, but this can be one of the factors that could make your property taxes go up. Some tax assessors may believe you have home improvements. In some towns, policies are set in place to assign the highest assessed value to homes in these kinds of situations and with no strong way to dispute the assessment without allowing a tax assessor inside, property taxes could easily increase. 

Special Assessments that Affect Your Property 

There could be some special projects that are occurring within your neighborhood that could result in a new assessment of your property tax bill. Some projects include maintenance or construction on water lines, curbs, gutters, and street improvements. Because these projects are designed to enhance the quality of life in your neighborhood, they are most definitely going to be reflected in your property taxes. 

Referendums 

If you have ever gone around different neighborhoods looking for a new home, you will notice that properties that are near schools, parks, or government construction projects in progress tend to be set at higher market values. You may be in the clear for a smaller market value if you buy a home that isn’t close by to local referendums, but they can come up in the future, resulting in higher taxes. 

State and Federal Aid 

All too often, aid issued from state and federal governments that go to local and county jurisdictions changes from year to year. While this is not always the case, issues in aid also depend on changes made in the legislature. Some states see a decrease in aid to local governments, which means homeowners will have to pay more in property taxes. 

Learn More about Big Changes to Come in 2022. Contact Us, Today!

New to the world of real estate? The professionals at Entrust Capital Funding have been in the business long enough that we can help you with concerns about your property. Contact us today to learn more about how doing business with El Paso Cash Home Buyers can benefit you.

How Can Different Seasons Affect the Homeselling Process? 

Beautiful House With Sold Stamp Overlay

The key to selling your home and, ultimately, selling your home the way you planned, is timing. In fact, the housing market is studied for its changes and how these changes look over a span of months and even years. If you have been thinking about selling your home, you have to be wise about when you plan on putting it up on the market. Each season of the year offers different advantages and disadvantages. With that being said, it is up to you to decide which time of the year works best for you and your home. Our experts at El Paso Cash Home Buyers know the real estate market like the back of our hands. To better help you prepare, we discuss how the different seasons impact home selling. 

Winter Months: December to February 

Many home sellers ponder on the idea of selling during the colder months. There is often less competition, which can be advantageous, but this is usually due to the fact that there are not very many people looking to buy, so it can be a bit difficult to get your home off your hands during the winter. Not to mention that buyers want to be able to close a deal on a home before the end of the year in order to earn potential tax breaks, so you might want to consider posting your home even a bit earlier before the winter. 

Spring Months: March to May

The springtime is often considered the best time to sell a house, no matter where you live. In fact, studies show that the first two weeks of May tend to be the busiest for home sellers. The spring is the easiest time for people to buy, so the demand is high. As such, it might be challenging for you, as a home seller, considering you’ll be up against many others who will be selling their homes as well. Considering there is more demand, buyers may be willing to offer a higher bid to make sure they can close the deal on your home. 

Summer Months: June to August 

The summer is also considered a popular time for home selling, but considering the weather, many buyers may not be willing to be driven to look at homes in the heat. Higher temperatures call for higher air conditioning costs and yard maintenance, which is something both you, as a home seller, and the buyer will have to consider. The good news is that families may feel the urge to find a home quickly when their kids are on break from school. For the summer, the pros definitely outweigh the cons. 

Fall Months: September to November 

The fall may sound like the perfect season to dress up and sell your home, but don’t be fooled, this is one of those times of the year where it can easily make or break curb appeal. One buyer might be swayed by the beauty of fall foliage, including trees and vegetation, whereas another buyer may not be too convinced about the idea of having to maintain a yard. The fall is a busy time for younger buyers, so if you are planning on selling during the fall, this is the target audience to aim for. 

Simple Tips That Can Help You Sell at Any Time of the Year 

If you are still debating on when you should sell your home, there are still a few simple tips to keep in mind and work on ahead of time. These tips are great no matter when you decide to sell!

Find the Right Agent

Finding the right agent means finding a professional that will help you meet your every need and goal with your home. You want someone that will be there for you from start to finish!

Base the Price on Selling 

You should price your home competitively. Offering a price that catches potential home buyers’ attention will help you sell your home even faster. 

Make the Deal Worthy 

To make your home look even more attractive, you can throw in special deals, such as paying some of the closing costs or offering a transferable home warranty. Buyers are always looking for sweet deals so this can greatly increase your chances of selling. 

Ready to Get Your House Off Your Hands? We Can Help!  

There’s no team more ready to help you sell your home than El Paso Cash Home Buyers! We can provide you with an offer that works for you within a time frame that also suits your needs. If you have any questions about how we work, you can contact us today to learn more. 

 

The Ultimate Get-It-Done Guide — Sell Your Home for Cash & Walk Away Happy

Selling your home doesn’t have to be entangled in confusion and paperwork. It doesn’t have to be a headache that holds you back from your next step in life. It doesn’t have to mean you’ll lose money or spend months tugging at the market. Your home has a story, and everyone’s story is different. So be the master of your story and find the way that works best for you and your family.

3 Popular Ways to Sell Your Home

When it comes to selling your home, you have options. Every option has its pros and cons. Here are the top five ways people sell their homes:

  • Through a real estate agent: This method is often considered the traditional way, as many think it is the only way. This approach might usually apply to homes that are in market-ready condition and the seller is in no big hurry to sell and move on. Selling through the market can be a good option for a modern home in a desirable area, but real estate agents don’t do it for free. They will typically charge a commission fee of 6% of the selling prices, which can be a chunk of cash.
  • Selling the home off-market: Keeping your home off the market means you avoid hassles. There is no dealing with real estate agents, mortgage loan officers, inspections, appraisals, and all that jazz. Selling off-market means selling to a cash home buyer.
  • Through a for sale by owner: This option is similar to the first except it eliminates the real estate agent from the equation. The house is sold on the market, but it removes the real estate agent’s commission and means the owner is personally handling the sale of their home.

Don’t Jump In Blindly, Arm Yourself With These Tips

Regardless of the option you choose, here are a couple of things that might help you navigate the sale and get to know the home-selling arena.

Tip #1 Learn About Your Home Value

Thanks to the internet, today’s home sellers can jump on a couple of sites and get a good idea of what their home might be worth. Several sites might give you different values and knowing the ballpark figure can put you in a better position when negotiating the value of your home. Several factors might need to be factored in, of course, including the condition of the home, needed repairs, etc.

Tip #2 Consider the Condition of Your Home

The condition of your home will be a deciding factor in how you might go about selling it. A cash home buyer will buy your home as-is. And as it means just that. Whether it’s the home you inherited from grandma and need to get rid of or a home that sustained considerable damage. With an old roof, creaking stairs, or bad plumbing, an as-is buyer will buy it just in the condition that it is in. That’s part of the deal. A home with these kinds of problems is not easily sold on the market. So once you closely evaluate the condition of your home, this can help you get a better idea of what option is best for you.

Tip #3 Do a Few Calculations

Selling your home fast means that you don’t have to continue paying the mortgage on it while it sits on the market. The home can be on the market for several months before you finally sell it. For many people, time is money. At the same time, if you factor in repairs, adding curb appeal, or even surface touch-ups, it’ll add to the overall cost. Crunching these numbers can help you decide what is the best way to sell your home.

Tip #4 Consider Your Personal Circumstances

The decision will ultimately depend on your reasons for selling and your personal circumstances. If you desire to get rid of the home fast and do not want to wait for months on the market, consider the other option of selling for cash. Homeowners that are in a rush to sell might not have the time to wait around for the right bidding war.

Tip #5 Do Business with Reputable Entities Only

The internet is a good place to look for reviews on home buying companies or real estate agents. Whatever option you chose, you want to do your due diligence first and learn a little bit about the person or entity you are making a transaction with.

Ready to Sell? Ask a Trusted Cash Home Buying Company for More Info

Still not sure what route is best for you? Why not pick up the phone and learn more about your options. Here at El Paso Cash Homebuyers, we are happy to explain the process to you. It’s really simple! We see your house, make an offer, and talk it over.

Why not give it a shot? Call us today and get more information.

Key Questions to Ask Before Selling Your Home in El Paso

It’s an age-old adage now that buying a home is the biggest financial decision of your life. It is uttered so frequently any time there is any talk about purchasing a home. And yet, while everyone has plenty of advice to give about when and how to buy a home, selling a home is not always as readily discussed. But just like buying a home is a big financial decision, selling a home is also a financial decision. The circumstances tend to differ, but it is often prompted by changes in life circumstances, job, family, or financial situation. So what kinds of questions should you be asking yourself when thinking about selling your home? We explore this below. 

Avoid Getting Caught Up in the Emotions of the Sale

Just like buying a home was likely an emotional (as well as a financial) transaction, having to sell the home you worked so hard to get might be equally as emotional or harrowing. Owners are often surprised to find this out. Stay focused on the business aspect of selling your home and ask yourself honest questions to ensure you’re not acting on emotions alone. 

Question #1 Is this the Right Time to Sell? 

There is no easy answer to this question. There is another question to this question. That is, is this the right time for you? The market will always have its ups and downs, ebbs and flows, zig- zags, but it really comes down to the central reason to why you are selling your home. That doesn’t mean you can’t get informed as to whether your local market is a buyer’s or seller’s market. This will make a difference to the result, but there is not much about it that you can control. So doing some local research will help you get better prepared and informed about the local conditions. And yet, if there is more of a buyer’s market, it’s wise to be strategic. 

Question #2 What are Your Reasons for Selling? 

This question will help you decide on the best approach. If you are selling your home because you are in need of fast cash or a quick way out of your current home or mortgage, then whether the market is a seller’s or buyer’s market might not be all that relevant. It will be more about your immediate needs in selling your home. 

Question #3 Does your home need major or minor repairs? 

The condition of your home will be a relevant question whether you are planning to sell the home yourself, through an agent, or through a fast-cash sale. Does your home have major home renovations or repairs that need to be done in order to put the house on the market? If you are looking for a fast sale, dealing with a home that requires plenty of repairs might mean a longer wait, inspections, requests from sellers, etc. Home sellers can avoid that by choosing to sell their home ‘as is.’ If going through an agent, however, this might mean not selling the home for the best price. 

#4 What is the Best Approach to Selling your Home?

This question also has a lot to do with personal circumstances and the particular situation surrounding your home sale, as well as the condition of your home. Owners often wonder if it is best to hire an agent, to sell it independently, or to go through a cash home buyer. 

Why You Should Consider a Cash Home Buyer for Your El Paso Home 

If you are looking for a sale that is quick and avoids the hassle of the mortgage loan application process, home inspections, repairs, negotiations, and the closing table, consider El Paso Cash Home Buyers. This is a two-step process. You tell us your situation and the details of the home, and we make an offer. 

Then you decide. 

This gives you a tremendous amount of control. Homeowners often report that going through an agent makes them feel the process is somewhat bureaucratic and moves at a glacial pace. Plus, there is no obligation. If you don’t like the cash offer, you walk away. It’s that simple. 

Sell Your Home Without Losing Sleep with El Paso Cash Home Buyers

El Paso is a growing real estate market. There are plenty of buyers ready to purchase in this growing and prospering city. If you’re ready to sell and you’re not sure of the option for you, give us a call. Our offer and guarantee might just surprise you. Not to mention how easy the process is. 

Ready to sell your El Paso home fast? Call us today and learn more about how we make the process easy. 

Understanding Squatters in Texas and How to Prevent Them From Stalling your Home Sale 

Squatting vs Protection of Property - Traffic sign with two options - freedom to use abandoned flat, house and building vs to protect private possession. Adverse possession vs crime against landlord

The term “squatting” refers to when someone occupies property without being the rightful owner of said property. Most people have heard enough about squatters that they have developed an image of what they look like. Many envision them as dread-locked sandal-wearing hippies painting abstract art and smoking cigarettes. And yet squatters come in many forms and although it’s not an overtly common problem today, squatting still happens, and it’s why there are laws that define how to deal with these situations. 

What is a Squatter, Legally Speaking?

A squatter is most commonly defined as someone who has no legal claim to property but settles in and occupies said property. They don’t have to do it at gunpoint, either. Oftentimes, these are people who understand they can use a property that is vacant. At some point, the squatter may gain adverse possession of the property through involuntary transfer. 

How Does this Happen? 

If a person who owns a property neglects to visit it or use it for several years, they could potentially lose it to a squatter. In the simplest of terms, the squatter can make a claim on the property or land, take possession of it, and then use the land. 

Every state and locality has its own laws regarding squatter rights. In New York City, for example, occupying the property for more than 30 days grants the squatter the legal right to remain on the property as a tenant. They don’t have to sign a lease agreement. 

The general rules of gaining property rights via squatting include:

The occupation must be hostile

In this case, the term “hostile” is a legal term and it does not mean violent or heated. It means that there is an awareness of trespassing, that there is a simple occupation, or that it is a good-faith mistake. An awareness of trespassing, for example, requires that the person trespassing knows that they are trespassing, or the person does not have to be aware that they are trespassing. The person could also claim a good-faith mistake. This is when they did not know they were trespassing, perhaps because they relied on falsified deeds or bad deeds, etc. 

The squatter must be in the property for a certain amount of time

The squatter has to occupy the property for a continuous period of time. This varies from state to state. In Texas, the period is ten years. That means that a person needs to have resided in this property for more than ten years. If a person leaves the property and then comes back, this won’t count. 

The squatters must be exclusive to the property

In other words, squatters seeking to take ownership of a property cannot share the property with anyone else or any other squatters. 

The squatter fixes up the property and makes it obvious that they are living there

A person cannot hide the fact that they are occupying a property. At the same time, one of the things that help people claim squatter’s rights is when they fix up the property. This includes cleaning up the yard, landscaping, fixing windows, etc. So, a person occupying a home can spend some time doing home improvement and show that they are caring for the property. In many cases when the property has been abandoned and neglected for a long time, this becomes an important detail. 

How to Prevent Squatters from Taking Over Your Property

Legal experts advise that preventing squatters is better than having to deal with them. They can simply complicate things when it comes to trying to sell your home. 

To prevent squatters from entering and occupying your property, you should: 

  • Regularly inspect the property
  • Pay property taxes
  • Place No Trespassing signs throughout the premises, if it is not occupied
  • Hire a property management company
  • Begin eviction procedures immediately 

The bottom line is that squatters can use the adverse possession principles to file for legal ownership of your home at some point. As soon as an owner suspects someone is squatting or living in their property, they must begin the legal proceedings to get them out through a legal eviction. After 10 years in Texas, a squatter can make an adverse possession claim and they will no longer be considered criminal trespassers on the property. 

Don’t Prolong Selling Your Home. Get Cash and Avoid the Hassle.

If you have to vacate your home for whatever reason and don’t want to leave it vacant, selling your home for cash is a great way to rid yourself of problems without tangling yourself up in a traditional sale. A vacant property collecting dust and sitting in a neighborhood somewhere is not a good idea. It may encourage people to enter the property and settle in. 

If you’re ready to sell your house and avoid the hassle of a regular sale, call El Paso Cash Home Buyers today and get fast money for your home.  

 

Why 2021 is the Year to Sell Your House Fast In El Paso 

A for sale sign in front of a home with two people handing each other a sign that says sold

People in the real estate business are emerging from an unprecedented year with plenty of surprises, changes, and uncertainty. They are not the only ones, of course. Many others across the country were part of industries that saw incredible strife, change, and economic distress.

Early predictions about the real estate markets were all over the place; most thought real estate will not do so well during a national pandemic. Contrary to some of these early forecasts, real estate fared quite well, and—in places like El Paso—there was a pressing demand for buying homes, as interest rates dropped and people searched for a place to call their own. 

For real estate brokers, agents, and mortgage lenders, things seem to be normalizing, with new developments as the new administration takes hold. 

So, let’s take a look at the real estate market in El Paso and why 2021 might just be the best year to sell your home. 

A Background on El Paso’s Real Estate Market

A few years ago, the median home price in the El Paso real estate market was about $143,700. Even today, that’s still far from the national average—which hovers around $208,000. 

El Paso is a unique market as compared to the rest of Texas for several reasons. One, El Paso has a lower median income of $40,000, which makes the homes more affordable, but the appreciation value has also increased in the past few years.

After 2020, however, many people are now looking into communities that are not as populated as the bigger metropolitan areas but are still cities with a robust job market and plenty of opportunities. By Texas standards, El Paso is still a mid-sized city. Houston looms with 2.3 million, San Antonio with 1.5 million people, Dallas with 1.33 million, and Austin with 950,000. The city of El Paso is at about 650,000 people, making it a popular destination in the state for those who are looking for less population density. 

After the housing crash of 2008, the El Paso market took some time to fully bounce back. Once it did, it showed consistent appreciation and growth. Since then, El Paso home prices have remained relatively stable and consistent. 

The Incoming Year and What Experts Forsee

As we close out the first month of 2021, real estate markets are expected to continue to have a demand for properties. Even at the end of 2020, the El Paso market was a well-documented seller’s market with more interested buyers than available homes. 

Due to changing circumstances, people losing jobs, closing businesses, and folks ready to make a new start somewhere else, there is a lot of movement in the country right now. 

In 2019, before the strict restrictions in states like California, people were already moving from these large and expensive metropolitan areas before the pandemic hit. In fact, 653,000 Californians decided to leave for another state. Census data shows that the biggest chunk of those people moved to Texas. In 2020, the exodus continued as California imposed ongoing lockdown orders with no end in sight. Some of the biggest reasons cited for the move included the less-than-friendly business environment, high taxes, left radical policies, and soaring housing prices. 

Now’s the Best Time to Sell Your El Paso Home!

For many people looking for a good-sized city with affordable prices, El Paso is looking pretty good right now. 

Here are a couple of reasons to sell your home this year:

  • Interest rates are expected to remain low. As long as this is the case, there will be a market for homes that are going on the market. 
  • There is an unexpected move. If you’ve decided to make a move, this is your chance. With El Paso seeing such high demands for homes, putting your plan into motion today might ensure a quick and successful sale. 
  • You are economically strained. Doubts about being able to afford your mortgage can put quite the strain on families and individuals who suffered the loss of a job. 

So Why Sell Your Home in 2021? 

Buying and selling homes is a very personal decision. For many families, it means an emotional change when they have to part with a home they’ve loved for years or are moving into a new place. For many homeowners, the year 2020 brought a lot of economic uncertainty that has carried over to the new year. 

Many are wondering whether they’ll be able to continue paying their mortgage or whether their economic stability is about to be put to the test. Others may see this as an opportunity to begin again in a new place, given the freedom of work-from-home models. If this is you, consider this moment as a great opportunity to explore quick cash sales of your home. 

El Paso Cash Home Buyers is able to help homeowners that are looking for a pain-free sale without the run-around involved in traditional sales. Cash sales give you a quick way to change course and, in times like these, many people are looking to do just that. 

Want a Pain-Free Home Selling Experience? Sell Fast with Cash Home Buyers

Home selling can be a pain, but it doesn’t have to be. If you’re looking for new beginnings and need to sell your house fast, contact El Paso Cash Home Buyers and find out more about our process and how we can help you take the leap.

What is the Cheapest Way to Sell My House in El Paso, TX?

A home selling image

For homeowners that are selling their home for the first time, the expenses of selling that home will often raise eyebrows. Many people do not realize that selling a home can be quite expensive, not to mention a bit of a hassle. When the outlook of the economy does not seem as sunny, people look for ways to downsize or reduce their monthly expenses. As the year 2020 comes to a close with many jobs lost and the economy remains on the balance, many homeowners are looking to sell to move to a new place in search of work or remove the headache of a mortgage they can’t quite afford any more. 

Depending on the market, the seller will often have to pay closing costs or at least cover a good chunk of those closing costs. This is why homeowners that are looking to sell are focused on one thing: cutting costs. For many, looking for ways to save money and even expedite the process is an important part. There are many reasons why people are looking to sell their home quickly—whether it is a necessary move for work, financial troubles, or other circumstances. Whatever the reason, there is great interest in selling fast and avoiding getting caught in the long selling process. So we thought we’d look at some ways you might consider to save some money on selling your home. 

Reduce Realtor Commissions and Fees 

Realtor commissions are typically 6% of the selling price. It doesn’t seem like much, but take a moment to do the math and the amount might surprise you. If you haven’t owned your home for a few years, this might mean that you actually take a loss on the home. Let’s take an average home in El Paso at about $150,000. When using the traditional method and using a realtor, that means you are losing $9,000 on that sale. 

Now, if you have not had enough time to build equity and pay off into the home, the chances that you are losing money are pretty high. So how do you get around these commissions? Well, you don’t really. If you are using the traditional method of selling your home, you likely need a realtor and that will cost. It is possible, however, to shop around and find a realtor that is willing to do it for a flat fee. Because of today’s competitive market, this might be a possibility. Also, some realtor companies might offer a 4% commission, so it is possible to shop around. 

Skip Repairs and Reparations

It is possible to sell your house as-is. What that means is, you are looking to sell the home without making major repairs on it. It might be that your home is simply outdated, maybe it’s an older home with older features and appliances or there has been some damage done to the house. Upgrades to older homes take time and money to complete, so it will mean you will have to reduce the selling price or wait sometime before repairs can be completed. Selling the house as is also means you are likely to deal with investors that want to buy the property and are not willing to make any good offers. 

Cut the Closing Costs 

Other costs arise when selling a home through realtors. Closing costs can cause a big dent in your pocket. Some additional costs that come when transferring a home include:

  • Title policy and insurance
  • Attorney fees
  • Property and transfer taxes 
  • HOA fees
  • Escrow costs 
  • Brokerage fees

These are all expenses that will eat away at your possible profits. At the same time, typical closing costs won’t happen until the buyer has had time to inspect the house, and maybe they will like to order an inspection on it. All of this can extend the process to 30 days or more. 

Selling With a Cash Buyer and Avoiding the Hassle 

What we do here at El Paso Cash Home Buyers is just that: help the homeowner reduce costs and eliminate the headache and back and forth involved in a traditional sale. The process with us is easy: 

  • Call us up
  • We view the house
  • We make an offer
  • You decide

There is no obligation in taking an offer or calling us. Our underwriting team here will work out a fair price based on market conditions, similar properties, and the specific condition of the home. This way, the repairs, and renovations are not necessary. You don’t have to worry about curb appeal or cleaning up the yard or fixing that leaky toilet. We take care of that. 

If you are looking to sell your home in El Paso. Call El Paso Cash Home Buyers today and learn more about what we can do for you. 

Ways to Sell a Home: Is a For Sale By Owner a Good Option? 

Happy young couple in the garden holding sold signOk, we all love to save money. Many of us look for ways to save money on everything we do: from grocery shopping to vacation flights, to the clothes we buy. There are some areas of life, however, where the allure of saving money might actually cost us more in the long-run. There’s the old saying that time is money and for busy Americans, that phrase is all too real because spending hours a day trying to sell your home might not only be less effective but it might end up costing you in stress, hours of sleep, and day-to-day frustration. So, if it’s time to sell your home, you may have come across the idea that there are two main options for you: hiring a real estate agent or putting a For Sale By Owner sign up front and digging into it yourself. 

Well, there’s a third option, of course, and that’s trusting a professional cash home buying service to buy your home for the best price. Here at El Paso Cash Homebuyers, for example, we not only make sure the process is expedient and efficient but we get you the best cash deal without the headaches. So, let’s look at the myths about putting your home on the market and what that might entail or cost you in the end. 

What Does It Mean To Sell Your House on Your Own?

Let’s begin with some well known real estate lingo. Often called “fizbo,”  or FSBO stands for For Sale By Owner. You’ve likely seen these signs around once or twice in your living room. Most real estate agents have strongly informed opinions about this and you’re likely to hear a variety of answers on this if you ask several real estate agents. So a fizbo sale is when there is no real estate agent or other party involved in the selling of your home. What that means is that the owner is responsible for putting the home on the market, listing it, advertising or marketing it, and more. On the surface, this might seem like a mighty good idea and certainly many people across America are empowered every day that they put on the handy sign in front of their yard and they get to work. 

Does it work out for them?

Well, sometimes. Yet, studies show that for people selling their home on their own, they’re likely to lose money on the deal. 

Also, there are other considerations like the possibility of getting stuck in a bad deal and the fact that liability is on the seller; without errors and omissions insurance, it can cost you. 

According to the National Association of Realtors, research shows that people that chose to forego the real estate agent and sell their home themselves are spending lots of time hustling to get the house sold and figuring out the paperwork. According to 2017 Home Buyers and Sellers Profit report, sellers said the process involved at least creating yard signs, listing homes online on multiple sites, telling neighbors, friends, cousins, coworkers and spreading the word by word of mouth, putting out classified ads, posting on social media, doing open houses, tours, staging the home, and registering with Multiple Listing Service (MLS) database. All of this is a lot of work that ends up costing the home seller a lot of hassle. 

According to information from NAR, Fizbo home sales make less money. Many times this has to do with the amount of time they are on the market. One study performed in Wisconsin looked at single-family homes sold in Madison. They compared the prices between For Sale by Owner homes to regular sales and found a 0% price difference between the two. 

So What If You Want to Sell Your Home Fast? 

There are many situations that propel somebody to sell their home. It might have to do with work, family, or finances. Regardless of the reason, people have different goals. If you need to sell your home fast for one reason or another, cash sales are one option that can get you a great price without the long process of finding agents, putting on the market, inspections, negotiations, etc. 

What if My Home Needs Some Major Work or Repair?

If you ask most real estate agents about what sells homes, you will likely get answers you might not expect. Some, you will expect. They may range from beautiful landscaping, cleanliness, granite countertops, large kitchens, layouts, remodeled bathrooms, etc. And yet, making some of these repairs costs money and your situation might mean that you are not quite able to make the repairs. So what happens then? Do you settle for a bad price? 

This is another situation where considering a cash sale might have great benefits for you. Here at El Paso Cash Homebuyers, we will purchase your home for a more than fair price and get you the cash fast. Our goal is to make transactions happen quickly so that homes are not sitting there vacant and the owner and seller can move on with their lives.

Looking to Sell Your Home? Consider a Secure and Fast Sale. 

One of the reasons that people choose cash home buyers is the reliability in the sale. Picture this scenario: you’re selling a home, you put it on the market. According to most data, homes will sell in about two weeks. So you get an offer, accept it, and move on with the process. After that, the buyer has time for inspection. Once that happens, they might ask for repairs or look to negotiate. You can either take it or leave it, or make repairs as necessary. Then there is the appraisal process, the loan process on their end, and before you know it there goes 2 months. And since coronavirus happened, this is often taking way longer and deals often fall through at the last minute. Then, you have to start all over. 

Here at El Paso Cash Homebuyers, we act fast so that you can move on to the next chapter of your life. Call us today and find out more about what we do and how we do it.