Co-ownership of a property allows its participants to invest in a property that would otherwise be too expensive for them to buy on their own. For example, maybe your family has been wanting to buy vacation homes – this is a far more attainable goal if multiple members of the family want to join in and buy the homes together.
When you choose to co-own a home, you also remove the necessity to gain income by renting out your second home to strangers in an attempt to recoup some of your expenses. With that being said, it’s best to come up with an exit plan at the time of purchase so that you don’t run into any issues when you and your partner(s) decide to sell your property.
If you are a co-owner of a property and you are ready to sell, read on as we explore what you should know about selling a co-owned property in Alaska. Please note that this article is for informational purposes, not financial or legal advice.
You might think it’s a good idea to list your own co-owned property when you go to sell it to save on real estate commissions. If you’re considering going down this route, you should be aware that only about 11% of FSBO listings are successful. Real estate professionals know that selling a home quickly and at a profitable price requires a lot of effort. There are marketing expenses such as professional photographers and stagers which are necessary because they help earn the highest profitable sale. Something else to keep in mind is the cost of repairs. Home buyers are rarely seeking homes that need repairs before they’re ready to be lived in. If convenience is important to you, and the thought of having to put in the time, effort, and money into listing your own home sounds daunting, you’ll want to consider selling to professional home buyers like us here at Anchorage Home Buyers. We buy homes as-is and we never charge commissions.
It is essential to understand the ownership category the property is under and how it may affect the process moving forward. Anchorage Home Buyers never charge any closing costs or other professional fees. The amount that Anchorage Home Buyers offers is the amount you will have in hand when you leave the closing table. At Anchorage Home Buyers, we don’t pressure you into a sale, and if we believe it’s in your best interest, we’ll advise you to list with a licensed real estate agent.
Anchorage Home Buyers
Selling your co-owned property shouldn’t be that complex – we can help simplify the process. At Anchorage Home buyers, we believe in being open and honest about what the best options are for you when it comes to selling your home. At Anchorage Home Buyers, we have the power of cash backing our offer and can provide you and the other owners with a guaranteed closing date, often within a matter of days, or we can work out the time that suits your plans best. At Anchorage Home Buyers, we aim to make selling a co-owned property in Alaska quick, easy and convenient. Call Anchorage Home Buyers at (907) 331-4472.