If you have been trying to sell a house for too many months or even years let me assure you that it is permissible to learn from areas outside of real estate or even sales for ideas on how to sell your house fast. And at this time of year the Secret of baking the Easter Ham is especially appropriate. You probably know the story of the newlywed couple who are sharing their first Easter together and the husband notices that is wife has cut off the bottom two inches of the ham and thrown it away. When he asks why, the answer is “my mother taught me to do it that way.”
Three years later they have Easter with his in-laws and sure enough his mother in law cuts off the bottom two inches of the ham before putting it in the pan to bake. And her reason is the same. Another few years go by and the grandparents move to Florida, the family is all together for the next Easter and the husband gets the chance to ask what turns out to be the originator of the tradition why she cut off the bottom two inches of the pan.
“When we got married we were very poor and we only had one baking pan and it was too small to put the ham in so I had to cut off the bottom two inches.” The lesson of the Easter Ham is that it is permissible to ask why we do things the way we do, especially if the way we do things does not work in current times. Most people looking to sell a house today only know one way. Imagine a line of circles from left to right. In the first circle is the seller, next to seller is a real estate agent representing the seller then a mortgage broker, then the lender, then the appraiser, then a home inspector, then a real estate agent for the buyer and finally the buyer.
Do you suspect that ALL of those people between you and the buyer want to get PAID? WHICH CIRCLE on the chart do you suspect has the pocket from which the payment will come? And that was fine five years ago. All of those people in the circles between you and the buyer were working hard to get the job done. And five years ago the job got done.
Today, not only do all the people in the circles between you and the buyer want to get paid, they are now working to not get the house sold. It may not be their fault and it is certainly not their desire, but things have changed. The buyer’s agent has a fiduciary obligation to see that you do not pay too much, the home inspector can be financially responsible if there is a problem he does not find so he will point out everything wrong. The mortgage broker now lives under new stringent rules which some politician thought would help you.
The lender also has a sharp eye on everything he does and his rules also come out of Washington. You have heard “I’m from the government and I am here to help?” So this is still how we bake the Easter Ham today and as you have noticed that pretty much it does not work. The houses that the appraiser is using for comparable sales are mostly bank- owned property selling at low prices and they may or may not be honest to goodness comparables, but they are what the appraiser has to use. Click here for: sell house cash Orlando
There are alternative ways to sell a house fast and for more money. Commercial real estate and large corporations have been using these methods for selling property and in fact entire nation wide corporations for years.
But their methods are not often used in residential real estate. One method I call the leveraged buyout, because the buyer uses the asset he buys to make the payments on the loan, usually by renting the property. I would call it seller finance if the buyer were to live in the house and leveraged buyout if he is going to rent it to make the payments.
Another method is called buying subject to in which we use the existing financing to sell the house. These methods cut out the middle men in the above diagram, or at least the ones who the real bottle neck in the sales process and allow a faster sale at a higher price.