Selling a house can feel stressful enough when you are the sole owner – but selling a home with multiple owners can quickly devolve into an overwhelming situation.
Whether it’s your spouse, friend, family member or business partner you own a home with, navigating the traditional sales process with multiple owners can stretch into months and months of arguments, misunderstandings, false starts, and strained or even broken relationships.
At Sell Now Home Buyers, we have years of success in helping people just like you not just move to a quick sale for cash, but avoid the stressors that undo relationships during a lengthy traditional sales process.
In this article we will discuss exactly what you need to know about selling a home with multiple owners in Poughkeepsie, NY and surrounding areas, and highlight the difference between using a Realtor, or selling fast for cash to Sell Now Home Buyers.
Common Issues When Selling a House with Multiple Owners
When a property has multiple owners, the process of selling can get complicated quickly. Here are some of the most common issues that you may encounter:
1. Disagreements on Selling Price
Money! It’s the first thing on people’s minds when splitting the sale of a house with multiple owners. We have seen siblings who inherit a house break into months of arguments with each of them having their own idea of what a retail price should be. We have worked with business owners selling an investment property, who “know” their house should be worth a certain retail number, and we have years of experience in thoroughly and patiently outlining how we arrive at our purchase price, in a way everyone understands.
The difference in price when selling through a Realtor, as opposed to selling with Sell Now Home Buyers, can seem like a Realtor is the only sure way to make the most money. And if you have the ability and interest in cleaning the entire house out of everything in it, spending money to make updates and sometimes expensive repairs, filing permits and paying fees to clear violations, paying to carry the expense of the house for months (including mortgage payments and/or utilities, insurance, maintenance fees) the willingness to open the house up for unlimited amounts of Realtors to bring potential buyers through, as well as to navigate negotiations, home inspections and appraisals, and understanding that if your Buyer loses their financing you have to start all over – well then, yes, selling through a Realtor is right for you – Now you just have to figure out who is responsible for what part of all of that, when you sell a house with multiple owners!
Don’t forget to also take up to 6% of your sales price off, to pay agent commissions! (That adds up to $18,000 on a $300,000 house!)
Once you factor in all the requirements and costs associated with selling your house with multiple owners through a Realtor, you’ll see the difference in price comes with its own price tag, and be better positioned to decide if all of that is worth it to you- or if you would rather take a Fast Pass, skip all of that, and walk away with cash in everyone’s pockets in as little as 30 days!
2. Unequal Ownership Shares
Selling a house with multiple owners in Poughkeepsie, New York, and surrounding areas is something Sell Now Home Buyers has years of experience doing. That’s how we have learned to help people like you navigate these sales even when there is unequal ownerships shares in the house.
We can recommend attorneys who have experience in this, as well, so all parties are equally represented no matter what the difference in their payouts are.
3. Lack of Communication
When selling a house with multiple owners, it is very common to have communication problems. You might have multiple attorneys. You might have trouble agreeing on which owner takes the lead on communicating to everyone. As a message gets shared and repeated, it can be unintentionally miscommunicated, leading to misunderstandings and headaches galore!
Keeping everyone on the same page when selling a house with multiple owners can feel impossible. We have our own system to keep everyone in the loop, respect every owner’s position, and work with every owner involved to reach an agreement everyone is happy with.
4. Legal Issues
Some surprises in life are fun. Others… not so much – like when you are selling a house with multiple owners and discover that one of the owners has a lien on the property, or there are easement issues, or outstanding debts.
All these will complicate and delay a sale through a Realtor as attorneys work to untangle the mess and all the owners work to figure it out. But Sell Now Home Buyers is a direct cash buyer in New York and we pay cash for houses so you won’t have to deal with any of that!
Here are Some Sell Now Homebuyers Solutions for Selling a House with Multiple Owners
Fortunately, there are several ways we can make the process of selling a house with multiple owners more manageable. Let’s look at some of them:
1. Agree on a Selling Strategy
The first step to successfully selling a property with multiple owners is to agree on a selling strategy. If you decide to take the lengthier and more complicated route with a Realtor, we wish you the best. In fact we have an in-house Realtor who takes that process and works hard to make it as painless as possible for you.
But if you decide to go directly with Sell Now Homebuyers, all you have to do is agree on when you want to close! Once we come to an agreed upon sales price, your work is done. You can literally walk out the door and leave anything you don’t want, behind – but don’t forget your cash!
2. Work as Mediator
We have often served as an unofficial Mediator when selling a house with multiple owners. A mediator is a neutral third party who can help facilitate discussions and find common ground among the owners. And while we are of course hoping to strike a deal that benefits all of us, we have also helped resolve conflict by simply answering all questions every owner has, providing a fully transparent explanation of how we work, and never pressuring anyone to make a decision they are not happy with. We have no interest in doing anything but making this easy for you!
Here is a quick recap of how Sell Now Home Buyers can help you sell your home with multiple owners in Poughkeepsie, NY and surrounding areas:
1. Simplified Selling Process
When you work with Sell Now Home Buyers, we simplify the entire process for you. You don’t have to list the house, worry about repairs or outstanding permits and violations, a professional buyer, the selling process is simplified. You don’t have to worry about listing the property, dealing with showings, or negotiating with potential buyers. This can save you time and hassle, especially when there are multiple owners involved.
2. Fair Price
We are real estate investors. We arrive at out offer by using a formula we are happy explain to you. It involves current condition of the house, retail value, and repair and other costs. We will also explain in full detail, the services we provide for that sales price.
3. Close when YOU Want
As cash buyers, we can close on your house when you are ready. Want to move quickly – Great! Let’s do it! Need a few weeks or months to work things out – also great! We will sign a contract agreeing to your chosen closing date.
4. No commissions or Hidden fees
The sales price we agree on is the amount you will receive. There are no tagged on commissions or other expenses related to preparing your home for sale.
Selling a house with multiple owners can be a complicated process, but Sell Now Home Buyers works with you to make it as easy as possible. If you’re looking to sell your house fast in Poughkeepsie, Dutchess County, or the surrounding areas, contact us today!
