Part 9 – The Step by Step guide to quickly sell a St. Louis, Missouri house that is in rough shape

Brought to you by STL Real Estate, Property Solutions for Saint Louis homeowners

Figure out the holding and fixed costs

Sell rough house Part 9

Step 1 – Figure out your holding costs

Now that you have figured out the amount of time a rehab will take, you need to figure out how long it took your property comparables to sell.  The average days that they took to sell equals the projected selling timeframe of your property.  You can then figure out how long the entire project is going to take:

Projected Renovation Timeframe + Projected Selling Timeframe = Projected Project Timeframe

Next, figure out an estimation of what the utilities cost you each month, and figure out how much money taxes are each month.

Projected Project Timeframe  /  30 =  Project Months

(Project Months) X (Monthly Utility Expenses)+(Project Months) X (Monthly Note Payment)+(Project Months) X (Monthly Tax Payments) =Holding Costs

Step 2 – Figure out your sale costs

Realtor Sale Commission = (ARV X 6%)+ Title Company fees + Any Seller Closing Cost Concessions (ARV X 0-3%) +Taxes = Sale Costs

Step 3 – Figure out a your equity

ARV – Sale Costs – Holding Costs = Net Sale Price

Net Sale Price – Renovation Expenses = Property’s Equity

After you have figured out your holding, sale costs, and equity, you now need to figure out who to sell your house to.  That is what part 10 of selling an rough house in Saint Louis, Missouri is about.

If you need to sell your house fast, or want more information from experts, fill out this form now:

The other parts of this mini-series are located on stlhouseseller.com:

Sell an rough House in St. Louis, Missouri Part 1, Selling an rough House in St. Louis, Missouri Part 2, Selling an rough House in St. Louis, Missouri Part 3, Sell an rough House in St. Louis, Missouri Part 4, Sell an rough House in St. Louis, Missouri Part 5, Sell an rough House in St. Louis, Missouri Part 6, Sell an rough House in St. Louis, Missouri Part 7, Sell an rough House in St. Louis, Missouri Part 8, Sell an rough House in St. Louis, Missouri Part 10, Sell an rough House in St. Louis, Missouri Part 11, Sell an rough House in St. Louis, Missouri Part 12

Don’t forget, if you need a we buy houses company or expert real estate advice, give us a call!  314.571.9225