More Showings & Better Offers
Get House Inspection Done Upfront
The #1 Deal Breaker in Real Estate Transactions is that the home fails the home inspection. Owners often say they have been living there for years and there are no problems, and it takes 3 to 6 months to get the property under contract, the buyer does the inspection and the surprises come out. Termites, rook leaks, plumbing issues, electrical issues, old seawalls and more, all cause anxiety for buyers and they cancel the deal, and now you are back on the market and it takes another 3 to 6 months to get another buyer. All this can be avoided if you get the home inspection done upfront, know all the issues, have a chance to correct them, and then your house will appeal to more buyers since they will know about everything upfront, and you will get more offers and often , if you choose one of our most reputable inspection companies, the buyer won't even do a second inspection and you get a better price and faster sale. Roman Pavlik knows all the reputable home inspection companies and has used them all for his own properties.
Get Appraisal Done Upfront
An often overlooked part of getting the house ready is the appraisal. Depending on the area and price range, homes may be selling above, at, or below appraisal. If your house needs work, it will probably sell below appraisal, if it is renovated, then it will probably sell above appraisal. Either way, most buyers still finance with record low interest rates, which means the bank will send an appraiser and if that number doesn't come in where you want it, the buyer will want a discount. If you are not prepared, then you probably will not like the appraisal.
1) When you order an appraisal upfront with a reputable appraiser and provide them logical information they need to give you the maximum price, then we can advertise that appraisal, especially on hard to value homes. 2) Now you have a marketing tool to get cash buyers to increase their offers
3) You have something to give to the bank's appraiser so they can see how the other appraiser arrived at the value, and that increases the chances of the deal going through.
4) Also you will attract more international buyers to your home because they will see an official report that justifies the value and will feel more comfortable making an offer on a property. Imagine if you were buying a home in another country, say Peru, and you have 5 to choose from. How do you really know what the house is worth. If the first home had a 20 page certified appraisal and the other 4 didn't, which one are you more likely to buy first?
Roman Pavlik does appraisals on all of his personal properties before listing them and know reputable appraisers who can get you maximum value.
Owner Financing Program
As the price increases on real estate, so does the complexity of the buyer's financial situation. If you have a special house that a buyer falls in love with, but has their money tied up in other ventures, then offering some owner financing will increase the number of buyers for your property. Here are some examples:
1) Buyers who need to sell first to move: Offer them some financing so they can buy first, and then they pay you off once they sell their other house.
2) Self Employed Borrowers: They typically declare less income, so the bank wont give them enough. By offering them owner financing, they will typically pay a higher interest rate and you get more buyers.
3) Retired Buyers: They typically are cash rich, but don't have much income to qualify with a bank. Offering them owner financing creates buyers for your home and not the other homes in case they want to keep their cash in the bank.
4) International Buyers: Foreign National loans are tougher to get, and loans are not available to buyers from certain countries. Offer them owner financing, and all of the buyers from those countries, or the ones that just don't want to deal with the strict guidelines will happily pay you a nice interest rate
Owner financing also gets you a higher price. Buyers who cannot get a regular loan, don't have much leverage because they cannot just go buy another property if you are the only one giving them the terms to be able to buy yours house. They will save a lot on closing costs, and offer you a higher price. Roman Pavlik has done owner financing personally on his own properties and sold homes over appraisal by as much as 10%.
Lease Purchase Program
The lease purchase (not to be confused with lease option) is a great way to sell your home to a buyer who needs to move now, but cannot close for 3 to 12 months. If your house is empty, or you don't need the funds from the sale to move, then this can dramatically increase the number of buyers for your home. A typical example is a buyer is being relocated form out of state, but can't buy until they sell their other house, but they are moving now. So if they like your house, they can sign a lease for 7 to 12 months, sign a contract to buy it within 6 to 11 months, and put up a big non-refundable deposit (typically 10%), and pay you rent while they wait for their situation to be resolved, and if they don't close on time, they lose their non-refundable deposit. Roman Pavlik has personally sold homes with lease purchase, and knows how to negotiate it to protect you.
Ask Roman International Marketing
International Marketing becomes more critical as you increase the price of the home, especially in South Florida where there are areas with as much as 70% of the buyers coming from out of the country. Local buyers can drive by the house, talk to realtors, go to some of the websites and look on their own. International buyers look online first in their countries, and that is why we advertise in over 100 different countries in over 50 different languages, as well as the high end publications including Wall Street Journal, NY Times, Robb Report, Dupont Registry, Jetset, and more. After 30 days, you will get your media kit that will show you exactly where it is being advertised.
One the toughest jobs in real estate is selling properties that haven't been built yet. Builders have to have perfect marketing and be able to create renderings of the finished product to get buyers to envision how their home will look when it is done, and fall in love with it. We do the same for your home. We have the capability to virtually declutter your rooms, change the flooring, paint colors, insert furniture, add lighting, and even completely virtually renovate the property. Roman Pavlik is an expert renovator and can show you all the different designs available to show the potential of your property to get buyers emotionally attached and better envision how it would look once the changes are made to their taste.
Should I Renovate or Sell AS-IS?
If you have a property that is not a brand new property, or hasn't been recently renovated, then you have some options. Every house 3 values:
1) Fully Renovated Price: This is the maximum price that the property will sell for and appeal to the greatest amount of buyers. We can show you how much you can expect to get for the property if you have the time (usually 9 to 12 month) to renovate it. A typical example is if you have a home that is worth $2,000,000 AS-IS and you spend $300,000 to renovate it, then you can usually get an extra $300,000 to $400,000 extra and sell it for $2,600,000 to $2,700,000 or even more.
2) Partially Renovated Price: This is a middle of the road number, where if you wont have the budget or time to do a full renovation, then Roman can show you where to spend $30,000 to $40,000 and perhaps get $100,000 to $120,000 in return on your money, just by making the property appeal to more buyers and if the home is older, how to make it qualify for financing in order to increase the number of financed buyers.
3) AS-IS Price: This is the lowest price that will appeal to the least amount of buyers. if the house needs $300,000 to $400,000 in renovations, then the following buyers will not be able to buy it 1) those that need to sell first in order to buy and move in at the same time 2) those that don't have an extra $300k available 3) those that don't have the time to deal with it 4) those that don't want the time to wait, and need to move in now 5) those that won't qualify with the bank to carry two mortgages. So you are left with cash buyers, or investors who will want a much larger return than if you renovate it yourself like in #1 above.
Roman Pavlik is an expert renovator, and operated a real estate fund in South Florida that acquired, rehabbed, leased and managed over 5000 homes. Roman can come to your house, give you the advice, refer you to quality contractors, help with the budget, and find the best way to get you top dollar for your home in the timeframe you need.