As fears of a recession grow due to the impact of the Coronavirus pandemic, homeowners who were planning to sell their houses this spring are wondering whether they can still sell. If a recession does hit our economy, what will that mean for sellers? Many wonder, should I sell my house during a recession? Whether your home is already currently listed or you are considering selling soon, here are some things to keep in mind.
1. What will it cost to sell my house?
A decrease in demand typically means sellers won’t be able to ask what they expected to for their house, or will have to list it for many months in order to sell, costing more in taxes and maintenance. If listing a house with a realtor, sellers will also incur costs such as 5-6% realtor commissions and often times, repair costs — not to mention the costs associated with just preparing your home for listing! Professional photos, staging, and landscaping to make your home ready for listing can all add up! This has sellers asking whether they will recover those expenses in the sale price, and whether they should sell my house during a recession? The good news is, Kendall Partners is prepared to buy your home with cash without the need of a realtor, inspector’s repairs, appraiser, professional photos, or staging!
2. What if I need to sell — now?
Listing your home during a slowdown or recession may not be a choice for some homeowners: A job transfer or some other family circumstance may make moving absolutely necessary. No matter what your reason for moving may be, focusing on your own personal needs and timing will allow you to accomplish your goal of selling quickly. Kendall Partners is able to purchase your home in as little as two weeks! We purchase your home with cash, so there is no need for delays due to lenders or appraisers, and no need to try to find a renter until the market changes. If you are asking yourself if you should sell my house during a recession, it IS possible to do so quickly.
3. What if I need to sell and buy at the same time?
The good news is, during a recession you may be able to negotiate a lower price on the purchase of your next home at the same time you’re selling your existing home. Receiving cash for your home when you need it for your purchase can allow you to coordinate that purchase more easily. Kendall Partners works with sellers who are relocating — on their timetable — to provide the flexibility they need to coordinate their move.
4. How do I receive a fair cash offer during a recession?
You may be asking how you can receive a fair cash offer on your home. The good news is, with Kendall Partners — it’s an EASY 3-step process! First, submit your information below and Jeff will reach out to you to have a short conversation about your selling goals and an offer range on your house. Second, we can arrange to meet you at your home for a short walkthrough OR you can submit your photos or a walkthrough video to us and we will make you a written offer. Remember, you don’t need to clean up or make any repairs — we buy AS-IS! Third and lastly, choose your closing date and close to receive your cash payment.
5. What if I can’t make the house move-in-ready?
Sellers often worry about making a house presentable or making repairs. But Kendall Partners has been purchasing homes since 2007 — We’ve seen everything and we are ready to buy a home in ANY condition. We’ve seen it all, from distressed conditions, outdated kitchens and baths, wet basements, and necessary even septic repairs. We are experienced and we are not afraid of buying ANY house because we know how to SOLVE PROBLEMS. Before, during, or after a recession, we buy houses in ANY condition.