Are you considering selling your apartment in Nebraska? If the answer is yes then you’ve come to the right place.
Selling an apartment in Nebraska is a process that demands research, information, and preparation. Although it may sound easy from the beginning, there are a range of factors that you must be aware of if you want to quickly attract the right potential buyers and most importantly – set the right asking price. There are a number of real estate tips and tricks that can turn apartment selling in Nebraska into a pleasant and stress-free experience. In this article, we’ll show you how to sell your apartment in Nebraska, explore the costs when selling a house, look at how you can attract cash home buyers in Lincoln, cash home buyers in Bellevue, and other areas in the state.
If you want to sell your apartment in Nebraska, keep on reading.
Nebraska Real Estate Market Overview
Before we dig deeper into some of the ways to ensure you sell your home fast in Nebraska, it’s essential to get an understanding of the market overview in the area. The Nebraska real estate market overview shows positive projections for 2021, despite the influences of the COVID-19 pandemic. The area’s real estate market overview clearly shows low interest rates of around 3%, active first-time buyers who shape the Nebraska real estate market.
The average apartment price in Nebraska or typical home value is $195,635. This price is subject to seasonal change and consists of the middle price tier of homes. Since 2021, the average price for a house in Nebraska has risen more than 8%, showing a positive curve. When selling a house, it’s essential to put yourself in the shoes of the buyer and ask all the questions that they may be interested in.
For example, potential buyers are likely to be interested in the following points:
- The average cost of apartment repairs in Nebraska – If you look at minor to middle-level repairs for properties in Nebraska, you can expect to pay around $6.000. The price will depend on the type of repair work, the size of the project, the choice of repair company or handyman, and more.
- The average cost of remodelling your apartment in Nebraska – For example in Omaha, the minimum cost of remodelling your house or apartment is $9,617. The average cost is $43,276, while the maximum cost is around $75,000. Of course, the price will depend on a wide set of factors but knowing these numbers as orientation can help introduce potential buyers to the market.
- The average cost of a new kitchen in Nebraska – Installing a new kitchen could cost between $10,000 and $20,000 or more. Depending on the type of kitchen, the style, the manufacturer, and other factors, you could even go below $10,000 in some cases.
Redecorating your Apartment
One of the first steps to selling your home in Nebraska is preparing the property for potential buyers. Sometimes, this may mean investing in large repair & renovation projects, while other times, redecorating your apartment may be all that is needed. When welcoming potential buyers to view your home, don’t forget that first impressions are everything. Make sure that the property is cleaned and decluttered, both internally and externally.
Here are some of the main steps to take when redecorating your apartment in Nebraska:
- Declutter – the more clutter that is left out, the harder it will be for potential buyers to visualize the property in a different style or form that answers their dream home. If you have a garden, make sure to tidy it up before viewings to allow the new buyers to get a clear idea of the size of the space and all the opportunities they have of playing around with it.
- Clean – although cleaning may not fall under redecorating for most people, it’s an essential part of presenting your home to potential buyers and attracting their interest. Subconsciously, buyers are put off from an environment that is poorly maintained and dirty.
- Make use of neutral colors – it’s always a good idea to have a fresh new layer of paint on the walls to remove any dirt stains or imperfections that may distract potential buyers. It’s best to use neutral shades that provide a calm and relaxing atmosphere, where buyers can make their choice.
- Repair any small issues – redecorating also includes fixing small problems that may be noticeable. For examples, clean your bathroom tile grout, repair leaky taps and faucets, check for cracked tiles and replace them, and correct any other known problems.
Notifying Potential Buyers
Once you’ve redecorated and repaired your home for sale, it’s time for notifying potential buyers. After all, what good does it do if your property is in good shape and for sale if no one knows about it? There are a number of ways you can go about speaking to potential buyers. For example, networking in real estate environments is a great way to find individuals interested in the real estate market and potentially ready to buy. Other ways of contacting potential apartment buyers may be by being active on social media groups, joining relevant platforms for home sellers and buyers, or sharing with friends and family what your intentions are and asking for an introduction to someone you know may be interested.
Potential apartment buyers in Nebraska could be cash home buyers in Hickman, cash home buyers in Omaha, or perhaps a buyer who will be relying on help from a lender and will be buying property using a mortgage. Regardless of the case, in order to reach potential buyers, you must list your apartment or house for sale on home listing sites.
Listing Your Apartment on Home Listing Sites
Listing your apartment on home listing sites is the next step to selling your property in Nebraska. Some of the most popular home listing sites that you can benefit from include:
- Apartment list
By adding your property to home listing sites, you’re dramatically increasing the chance of someone noticing it and showing an interest in viewing it. While there are a lot of free home listing sites, some may ask for a small fee for participation. Before you begin, make a list of the sites that are relevant for you to make the registration process quicker and easier.
Selling your apartment on home listing sites starts with creating a great listing. Make sure to choose a suitable title that will grab attention. The idea behind the title is to quickly inform what the listing is about. Start with the asking price, the location, and add a few benefits.
Next, you’ll need a description of your property. Avoid creating long descriptions as chances are that readers won’t be interested in reading a long piece of text. Stick to between 4 and 7 sentences and bring out the best in the property. If possible, highlight any nearby institutions, supermarkets, or other useful locations. Provide your contact details and add clear, high-quality and realistic photos of the property. Keep in mind that photos are one of the first things that grab attention from a listing. Choosing your photos wisely will make a huge difference.
Selling to a Cash Home Buyer
When selling your home in Nebraska, selling to a cash home buyer is probably one of the most beneficial ways to go. But why sell to a cash home buyer? Why should you spend time looking for cash home buyers in Papillion or other areas in Nebraska?
Selling your apartment to a cash home buyer offers a number of benefits for the house seller. It is a lot more flexible and faster as the buyer is not dependent on a mortgage as they already have the financial stability to afford the purchase. This means that the whole mortgage application process is skipped. There is no requirement for applications, documentation, appraisals, and other related steps. However, the buyer does need to provide proof of funds, which only takes about a week or two.
Selling your apartment for cash is also associated with an as-is home sale, meaning that you don’t need to make any repairs and renovations or invest in property improvements. You don’t need to make any changes to the house or agree to spend any more money on the house or apartment. There are also no real estate fees or commissions if you receive a cash offer and sell to a cash home buyer. Last but not least, receiving a cash offer on your apartment and accepting to sell can help you stay away from foreclosure. The amount received will help you pay your mortgage and avoid the consequences.
As beneficial as selling your home for cash may be, it’s essential to ensure that you’re receiving a fair cash deal. You can do this by having a clear understanding of your property’s worth or market value.
Documentation Needed to Sell an Apartment in Nebraska
Once you’ve attracted the right buyers as a result of covering all the steps from above, you’re now ready to move towards the actual sales process. In order to do this, you’ll need to be familiar with the documentation needed to sell an apartment in Nebraska. The required documents when selling an apartment may vary from state to state, which is why it’s important to be informed about the local standards and requirements. To avoid any delays or unexpected situations, always check your documentation in advance and ensure everything you need is with you.
Here is the documentation needed to sell an apartment:
- Two forms of ID
- Closing Statement
- Copy of Purchase Agreement and Any Addendums
- Bill of Sale
- Signed Deed
- Affidavit of Title
- Survey Results
You could also need the following documents, which are not obligatory but may be necessary for some situations:
- Loan Payoff Information
- Home Warranty Information
- Proof of Repairs or Renovations
- Home Inspection Results
- HOA Forms & Guidelines
- Copies of Trusts, Relevant Wills, or Power of Attorney Letters
- Relevant Affidavits
- Closing Disclosure
- Correction Statement & Agreement
Fees When Selling an Apartment in Nebraska
Oftentimes, sellers forget to calculate the closing costs or fees when selling an apartment in Nebraska. Of course, there is a certain amount of money that you will spend on the property before making the sale for repairs and renovations, unless you sell your home as-is or to a cash buyer. But apart from those expenses, there are also taxes, fees, and closing costs when selling an apartment in Nebraska. There are also realtor commission fees that range between 5% and 6% of the property’s final selling price. Considering the average home value of properties in Nebraska, this translates into $10,000.
When it comes to closing costs, there are a few things that go into this list:
- Loan payoff
- Outstanding bills, taxes, or fees
- Transfer taxes
- Recording fee
- Title insurance
- Attorney fee
For example, title insurance, on average, will cost you around $1,000, transfer fees will be around $400, while attorney fees will be between $150 and $500. If we take a standard house price of $189,000, you can expect to pay closing fees of anything between $2,000 and $6,000. Of course, you also have to factor in the holding cost when selling a house, which includes interest, utilities, taxes, HOA, and others.
The Nebraska real estate market is a favorable one to sell on. With a lot of young people looking to make their first property purchases, there is certainly someone out there suitable for your property. However, as you can see, the process does require a level of preparation and planning. We hope that the information we’ve shared with you in this article will come in handy for your next property sale in Nebraska. If you’re interested to learn more about the topic, we invite you to jump to our case study where you can find additional information.