Buying and selling real estate doesn’t have to be a big confusing hassle. A lot of times, people feel overwhelmed because they aren’t aware of certain laws and were taught to believe some things that just aren’t true.
Here’s a quick overview of some classic real estate myths and what you can do to be better prepared:
The listing price is accurate—there’s an old saying, something to the extent of, “the value of something is what someone is willing to pay for it.” So just because a house is listed for $1 million dollars, doesn’t mean it is worth that much.
Check out the values of the properties around the one you are interested in possibly purchasing. That will at least give you a gauge as to what others thought the value was. You can use it as a bargaining tool if nothing else. Offer what you think is fair.
It takes a long time to sell—you can get cash for your property right away with the right company, like Combs’. If you need a quick turnaround time, then getting cash for your home is the way to go.
You lose your equity in taxes—you don’t have to lose what you have built. Invest in 1031 real estate so you can keep your equity.