Moving between properties, especially when it is your primary residence, can sometimes be a dance between planning every detail and timing them out to have the most efficient experience. We often have local Bristol home sellers calling us or submitting their house info on this website every week saying, “I’m moving out of Connecticut and need help selling my house in Bristol”. The good news is that were able to help a very good amount of those sellers sell their house, on their timeline (because were actively buying houses in Bristol, Connecticut this Spring season!
No matter the reason for the move, whether it’s a new job, a sick family member, downsizing, or upsizing; sometimes trying to keep all those messy moving details in line can be tricky.
So how do you make it work?
Don’t Stress – Plan!
Although the market here in Connecticut does appear to be balancing out, there is no telling what can happen in the future. You don’t want to find yourself in a situation where you own and maintain two homes because you didn’t plan out the selling of your first home. That can get very expensive and add stress to the situation. So unless you’re filthy rich, having a game plan is probably in your best interest.
Your Options And Steps
- Find out what your home is worth. Doing this is easier than it sounds! You can either contact a reputable, local, real estate agent or you can give us a call and we can give you a no cost, no obligation valuation on your property. Once you know what the house can sell for in the current, local market, you will have the groundwork for the rest of your moving plan.
- Decide your timeline. This one is important. Deciding how soon you need to sell the current house you’re in after you relocate is vital to your financial security. We’ve seen people who move out of Connecticut and then have their property listed and sitting on the market for far too long. Resulting in them having to sell at a price far lower than first expected.
- Find a solid real estate agent EARLY. We recommend to those looking to relocate to find and agent and the valuation of their homes before they even start packing! Or if you don’t want to go the tradition route and use a real estate agent … we are a local, reputable home buying company and we’d love to make you a fair, all cash offer. Just fill out the form through this link to get started >>
- Calculate the value of selling your home on your timeline versus waiting it out on the market for a “dream price”. Of course, everyone wants to sell their house and get back what they’ve paid, if not more, “top dollar” is what its called. But in order to do that you need to list and wait for just the right buyer to have their financing in order and go through the process. The one thing people sometimes can forget throughout this all is the amount of money it will take to hold on to the house while you wait for the buyer. The costs involved may include the mortgage (which if you’re still within the first 10 years of the mortgage, the majority of your payment interest and not hardly going to principal at all), insurance, taxes, maintenance, etc. For example, if you want to sell your property for $250,000 … your mortgage payment is around $1,350/mo., taxes are $400/mo., $150/mo. for insurance and $100 for lawn maintenance (as you will need it cut while you’re away). Those expenses alone add up to $2000 a month in “non equity building” expenses. Let’s say it takes you four months to sell your property for the dream price, $250,000 that you wanted …. It would cost you $8,000 in holding costs alone PLUS you had to pay $12,500 in real estate agent fees (assuming 3% for the buyer’s agent and 3% for the seller’s agent). That is over $20,000 in lost money. Which of course does not account for your lost time, stress in thinking about the property on the market or countless people going for showings, or the opportunity of what you could have been doing during those extra four months and so much more. You can’t even put a dollar amount on that. Now think, what if you could avoid every bit of that and sell your property next week? Even if the property was sold for below the market value (let’s say for $220,000)… you are still ahead by $20,000 in holding costs and can sell NOW!
- Take action! Lastly, whatever it is you decide that works best for your situation and your property, decide and take action! Selling a home, whether it is the traditional route of listing it with a local Bristol, Connecticut agent or selling on your timeline, for cash, to a reputable home buying company is never something to take lightly. However, if you’d like the lighten that load a little, and would rather not have to wait and wonder and pay real estate agent commissions .. then giving us a call might be a good option!
With the current Connecticut market… if you’ve got a lot of time on your hands and a really great property, you might want to test the waters and list your property out at a high price. Nothing is impossible, so there is always a chance that someone will fall in love with your property and even possibly overpay – crazier things have happened for love.
However, most properties are actually pretty average, even though we do love them dearly. They tend to need cosmetic work done at the very least and are similar to the houses around them. So, unless your property is truly turn-key, magazine-quality, getting your dream price may be difficult. Especially if you list it at the highest point.
How can Valley Residential Group LLC Help You If You’re Relocating and Need To Sell In Bristol and Who We Are?
Were investors. We are a local, family run business that has been buying and selling real estate in Connecticut for almost 15 years. We support our neighbors and help to restore value to areas by buying homes from Bristol homeowners who need to sell fast, regardless of their situation.
The sellers we typically work with tend to include people who need to…
- Sell fast! (we can close in as little as 7 days or on your timeline)
- Don’t want the hassle of listing with an agent
- Don’t want to pay real estate agent fees
- The condition of the property is below that of current market expectations
- …. A variety of unique and sometimes challenging reasons
These reasons won’t deter us from coming out to give you a no obligation valuation of your property. We live and work locally and are passionate about the Bristol community.
We’re straightforward and will quote you a cash offer with a fair price and can close on your timeline.
If you’ve weighed your options and are prepared to wait for the real estate market to do what it will do, then hire a real estate agent and sell your property from a distance. While this might pay off, the risks are certainly there and not to be ignored.
We’re happy to help you find answers and solutions to your toughest real estate questions about Bristol real estate, please feel free to call us and chat at anytime, 860-589-4663.