Have you been considering to sell your Salt Lake City home off-market?
Real estate experts sometimes recommend this route. Housing inventory is tight in the country. Demand has exceeded the supply, and we have fewer homes and more buyers in the market. It can be a perfect scenario to sell your Salt Lake City home off-market, without going the traditional route.
You can sell your Salt Lake City home for a higher price if your home is in top-notch condition and you aggressively market the listing. On the other side, you may not want high profits in exchange for peace of mind and privacy.
Advantages of Selling Your Home (Off-Market)
You don’t have to tell the world that you’re selling a Salt Lake City house. No need to clean the house 3-times a day for unwanted showings. You don’t have to put up a yard sign. If privacy is a concern, you can complete a private sale of your Salt Lake City home with peace of mind. Directly connect with interested buyers and sign the contract without engaging in conventional transactions.
When selling a Salt Lake City home, many of us look at the final price—while we should be looking at the net gain. Profit is always relative and depends on your investment and baseline. Let’s say the value of your home is $220,000.
You apply a fresh coat of paint and do some landscaping. After this work, you’re able to sell the home for $228,000. That’s some profit.
However, if you sell the house for $275,000, but you made repairs worth $65,000; that’s not profit. We think it’s a loss. It’s not the listing figure but the net gain that matters. Consider this number when you decide to sell a Salt Lake City house privately. Look at the numbers. The chances are that you can save money by using a private/pocket listing.
Is It Right to Sell My House Without Listing on MLS?
It’s easier to sell an off-market property but is it the best way?
The answer depends on the circumstances. You need to meet a few conditions. To arrange a private sale of your home:
- You must not be in a rush
- Your home should be in a top-notch condition
- The market conditions must favor your decision
Selling a house takes time, especially when you’re not marketing the home on known platforms. It will take time before you find a buyer. If you want to sell a Salt Lake City house off-market, it is mandatory that you’re not in a hurry to complete the sale. This option is not for you if you have to move out immediately because of job demands, family reasons, divorce, or foreclosure.
A private approach to selling homes work when you own “exclusive property.” Market conditions and demand make it easier to sell a hot piece of property. That step won’t be easy if you have an outdated house or you’re in a buyer’s market.
How to Sell a House that Requires Repairs?
What are your options if you have a home that needs to be updated, but you want to sell your Salt Lake City home privately. If you have inherited a house or you don’t want anyone to know that you moved out—then a private approach will work for you, but how are you supposed to find a buyer in the retail market?
Outdated homes don’t find a space in the retail market, and it becomes mandatory to renovate the property. However, it takes time to repair the house, and you might not have the luxury to wait for another three months to sell the house. Furthermore, it’s not always feasible to repair the home because of financial or personal reasons.
If you’re facing such circumstances, we recommend you sell your Salt Lake City home as-is. A Real estate solutions company such as Fast Home Offer Utah can buy your home as-is for a cash price. We can buy your home within 10-14 days, and we’ll pay a fair cash price for your house.
It’ll be a completely private sale of your home. Our expert team (attorneys, legal advisors, contractors, marketers) will complete the purchase on your timeline.