Quick Sell May Not Net Fair Value

Selling Your Home

Las Vegas Real Estate

 

 

Signs populate the Las Vegas area that say "We'll buy your home right away." Are these companies legit? An important thing to remember is that someone who wants to pay for your house in cash may not be paying as much as someone who wants to live in it, according to an article by Edith Lank in our local Las Vegas newspaper.

These signs are posted by investors, for the most part and investors will always negotiate for a price that's likely less than you want for it. Of couse, we all want our money as soon as the house sells, so is this quick sale worth it? Likely not, unless you have quite a valuable property. If this quick procedure gets you less money, but faster, do check with an attorney before signing anything.

When pricing your home, it may be more beneficial to refer to your selling price as the "list price" rather than the "asking price." Asking price makes it sound like you may not be expecting a potential buyer to pay that amount for your house. If you're going to advertise your home in the classifieds or anywhere else, try using "listed at" instead of "asking."

If you do decide to rent the house out, to ensure that you still qualify for the tax exclusion of $250,000 ($500,000 if married filing jointly), be sure to ask a tax professional if you're going about everything correctly.

 

Lank, Edith. "Quick Sale May Not Net Fair Value." Las Vegas Review Journal 10 Oct 2004.