4 Best Ways for Selling a Home in Nebraska

When you sell a property in Nebraska privately, you do it quicker and easier than a traditional sale.

Selling a home the traditional way takes weeks, sometimes more than a month. Why? Because typical buyers need mortgages to purchase your house.

That requires a loan application, all sorts of documentation with vetting, a home appraisal, and mortgage approval by the lender’s underwriter.

The loan can fall apart at any stage in the process, and you’ll have to start again from the beginning to locate a new buyer — one that hopefully has cash or can qualify for a mortgage.

A private home sale prevents all that tension and suspense, not to mention wasted time. Private transactions close quickly, sometimes in only a matter of days when necessary.

Also, just like the name implies, this sale method protects your privacy. You won’t have your home address appear on the internet for all to see.

You also will skip open houses and calls to show your property when you’re just sitting down to eat or to binge watch a new program.

The next segment explains where you can locate a buyer who specializes in private sales.

What Are Home Buying Companies?

Home buying companies are real estate investors who have cash from their own accounts or funds from private lenders.

Cash investors run the gamut from solo buyers through hedge funds. Every investor has a business plan that dictates their focus in evaluating Nebraska real estate investment opportunities.

Some professional cash buyers focus on purchasing rental property; others buy only fixers to remodel and then resell.

Most cash buyers invest in a variety of properties, from condos and single-family homes through vacation cabins and everything in between, including vacant land!

Nebraska property investors’ business plans also have diversity in the condition of the properties they’ll buy. Many purchase fixers, as opposed to the general public who look for move-in ready homes.

Some cash buyers look for total fixers, including homes with structural damage. Whatever condition your property is in, there are property investors in Nebraska interested in buying it.

Some sellers find the benefits of selling a home to a real estate investor especially helpful. For example, people who are:

• selling a house before it gets foreclosed
• selling a property with a tenant
• selling a house during bankruptcy
• selling a house that needs work
• selling a house as part of an estate
• selling a house with back taxes owed
• selling a hoarder’s house
• selling to downsize
• selling marital property before divorce
• selling a property privately
• selling a house for job relocation

Investor-friendly title companies in Nebraska offer specialized services that facilitate closing quickly.

Now, let’s evaluate the benefits and possible downsides to an investor sale.

Pros of Selling to a Home Buying Company

• When you sell your house for cash, it happens quicker than when your buyer needs to obtain a mortgage.

• Companies that buy houses for cash in Nebraska also offer more certainty that the deal will actually happen. You won’t have to worry that your buyer may not qualify for a mortgage.

• When selling to a cash investor, you don’t have to repair a thing in your house. They’ll purchase your home in as-is condition.

• You’ll skip paying your buyer’s agent commission in an investor sale. If you don’t use an agent yourself, you’ll also save that commission fee!

• Investors also typically pick up the tab for the rest of the seller’s closing costs. That’s another savings for you!

Cons of Selling to a Home Buying Company

• Nebraska cash property buyers typically don’t pay market value for your home.

But before you automatically discount an investor’s offer, you should realize that selling your house through a Realtor for its market value won’t put said market value in your pocket.

In a traditional sale, you’ll pay commissions and other closing costs. That amount needs to be deducted from the amount of the market value offer in a traditional sale.

In an investor sale, you won’t be paying commissions or closing costs. The amount on the sales contract is the amount you’ll walk away with. Nothing to deduct!

The net from your sale (and not the sale price) should be the focus. You may just find that the proceeds from an investor sale compare well enough with the ones from a sale via an agent.

How to Find an Ethical Home Buying Company

This segment is a guide to help you navigate the world of cash home buyers. We’ll provide a few tips you might find useful in your search to locate an investment professional who won’t try to take advantage of you.

Start your hunt for an ethical home buying company by accumulating a list of investors from “we buy houses” postcards, TV and radio ads, and recommendations from friends, coworkers, and family members.

Also, go online and search for “we buy houses in [your city]” or “cash home buyers in [your city].”

It’s then time to complete the vetting of the prospects on your list.

Like every profession and trade, there are investors who are not ethical. A thorough vetting is the way to find quality cash buyers and eliminate the rest.

While investor licensing isn’t required for all cash buyers, some may be classified as a broker, and they will need a state license.

Begin your screening by checking if the investors on your list are licensed and if they’ve had issues with buying in the past where the state had to take action.

Nebraska Real Estate Commission License Lookup can help with that search.

Check local consumer feedback online on websites such as Real Estate Bees, the Better Business Bureau, and Yelp. Highlight investors with positive comments.

Vetting takes hours to complete, but there is an easier way.

Get a cash offer on your house by using our website. You’ll receive offers from professionals that we’ve screened for their expertise and ability to close a transaction quickly.

There’s never any fee or obligation to accept any offer.

In a traditional sale, an agent from a real estate brokerage handles everything involved in the transaction.

Who Are Real Estate Agents?

An agent is your professional fiduciary. They are your legal representative and are required to put your interests first in every step of the sale.

Once you sign a listing agreement with a brokerage, your state-licensed agent will list, market, negotiate on your behalf, and supervise the due diligence process.

They’ll also guide your sale through the title, escrow, and the transaction closing steps.

Agents using the title of “Realtor” belong to the Nebraska Realtors Association, a professional trade group that monitors members’ actions to ensure they meet the association’s ethical standards.

Evaluating the advantages and disadvantages of using an agent can help you decide if listing with a brokerage is in your best interest.

Pros of Using a Real Estate Agent

• Your agent is a professional. They can handle complex real estate issues, understand the legal requirements, and can navigate through each step of the sale.

• Realtors have access to a database of prior listings and sales that can help you in setting a price for your property that will sell and bring the highest dollar.

• Agents are your legal fiduciaries licensed to act on your behalf. You won’t need to be on high alert to handle showings and answer any questions about your property when you list your home with a real estate agent.

Cons of Using a Real Estate Agent

• Many sellers are surprised at how much it costs to hire a Realtor to sell a house in Nebraska. Nearly 3% of the sales price goes to listing agent commissions (and about 3% more to pay the buyer’s agent as well).

• Your home may sit without any showings for weeks, or maybe months, if your house needs major repairs.

• Most typical buyers using an agent require a mortgage to buy. That means weeks of delays.

Your key to a successful brokerage-assisted sale is selecting the best agent for the job.

How to Find a Good Real Estate Agent

The fastest and most reliable way to find a quality agent is to ask recent buyers and sellers for recommendations. Check with your friends, coworkers, and new neighbors for suggestions.

Supplement your list of agents by searching the Nebraska Association of Realtors’ webpage that lists the member agents in each of the chapters and boards.

Once you have your list, you can research licensing and any commission actions taken against the agents by using the Nebraska Real Estate Commission Licensee Information webpage. You can also contact the commission for additional information on any agent.

Nebraska has strict laws governing the sale of properties. Checking the license status of the agents on your list will help you decide who to invite to do a listing presentation.

The listing presentation is the final step. Invite the agents that look best on paper to present a listing pitch explaining how they’ll market your home and what they uniquely offer as a professional.

Select the best candidate and sign a listing agreement with the agent’s brokerage.

Homeowners who love to take charge of everything themselves may find the “for sale by owner” listing, also known as an FSBO, the perfect sales method, since they’ll handle all of the sales tasks.

The first step for FSBO sellers is to prepare your house, and this might be the most exhaustive part of the sales process.

The amount of prep you’ll need to do depends on the buyers you target. The general public looks for turnkey homes that require few repairs.

You may need to paint, replace flooring and window coverings, deep clean, and remove clutter when selling to traditional buyers.

Investors and iBuyers, however, don’t require any prep. Simply request an offer.

The next step is to determine the market value of your property. Various online calculators show your home value by address (although this is approximate and doesn’t replace an appraiser’s report).

The next duty is to complete the home disclosures. These include the Seller Property Condition Disclosure Statement that’s mandated by Nebraska law.

FSBO sellers typically have a challenge when it comes to attracting potential buyers. We have a few recommendations to assist with that.

Ways to Market Your House Yourself

• Signs are a way to let passersby know that your home is for sale. List several ways to contact you for a showing on each sign.

• Video tours offer a method for potential buyers to see the home before actually contacting you for a showing. Better quality videos typically attract more buyers.

• A professional-looking flyer that lists the amenities of your property is a good way to remind potential buyers of your home’s features after they’ve finished a home tour.

• Advertising your house on real estate for sale by owner websites is another way to expand your buyer pool.

Selling as an FSBO is a load of work, and it helps to carefully weigh the pros and cons of the sales approach.

Pros of Marketing Your House Yourself

• Closing costs in Nebraska include nearly 6% of the sales price that go to the buyer’s and seller’s agents’ brokerages. When you skip using an agent, you’ll save nearly half that figure. When you and your buyer both forego the use of agents, you’ll save the entire amount.

• You are in charge of your sale — from listing through closing.

• Agents must work with a group of clients, while you have only your house to sell.

Cons of Marketing Your House Yourself

• Nebraska real estate law is complex. You may be overwhelmed by the legal requirements.

• While you look for answers for your seller, they may walk away from the sale. Delay is a deal killer. And if you make an error, your buyer may sue you for that mistake.

• If you don’t know how to negotiate closing costs when selling a home by owner, you may end up paying fees that can be waived.

• Home pricing is tricky. Ask too much and you may never sell your house. Ask too little and you’ll sell, but you won’t earn top dollar for your property. You may even net less than if you went with a Realtor-assisted sale!

Our last selling method is a transaction that involves buying and selling wrapped up in one deal.

When you’ve found a home to buy, but you haven’t yet listed your house for sale, an iBuyer may be your answer.

Nebraska iBuyers will purchase your property so you can take that cash equity to buy your new home. Once that sale has closed, the iBuyer closes the transaction on your current house.

This arrangement eliminates the need for you to write an offer on your new home contingent on the sale of your current home.

Contingencies risk that the seller will accept an offer from another buyer who doesn’t have anything to sell.

You also may have more room to negotiate on a price and the terms of the sale when you’re not asking the seller to wait for you to locate a buyer and then close on your current house.

We’ve reviewed how to sell a home in Nebraska. The next segment focuses on the steps involved in all types of sales.

Before Signing a Purchase Contract

You’ll need to prep your home for your target buyers, making it turnkey-ready, as most people aren’t looking for a property to repair.

Investors and iBuyers don’t require prep, so you can skip that step when you’re looking to sell to a professional cash buyer.

Cornhusker laws require sellers to complete several disclosures as part of listing a home for sale. These must be presented to potential buyers before an offer is made.

The Nebraska State Real Estate Commission discusses the agency requirement on their consumer information page.

You can find more details about the property disclosure in our article on selling a home as is in Nebraska.

You’ll also need to set an asking price for your home and, when using an agent, sign a listing contract.

Marketing the Property

Selling a house in Nebraska to the general public typically involves a complex marketing plan.

Marketing typically involves signage, open houses, online and traditional advertising, and special incentives to attract buyers for showings.

As previously mentioned, this isn’t needed if you are selling to a real estate investor or an iBuyer.

Accepting an Offer

You’ll receive offers and counteroffers directly when you sell as an FSBO, or to investors or iBuyers. If you are using a Realtor, it’s them who will get offers from buyers and present them to you for a review.

Offers will be accompanied by an earnest money deposit. Those funds will be transferred to an escrow account when you accept an offer.

Buyer Due Diligence Period

The due diligence period is a time for your buyer to find a lender and qualify for a loan (if they’re not paying cash), contract for a title search of your property, and to take out hazard and title insurance policies.

Your buyer will also contract with professional home inspectors to examine your home. Some of these may be specialists who will evaluate your roof or foundation.

The escrow and title office will handle creation of the legal documents required for the sale during this time. They’ll also control the deposits and money transfers involved in the transaction.

A few days prior to the closing, your buyer will do a final walkthrough of the home.

At least three days prior to the sale’s finalization, you and your buyer will sit down with an escrow agent (or your real estate attorney, if you’ve hired one) to review your closing costs.

If you’re an FSBO seller, you’ll pay your own closing costs. If you’re selling through a real estate agent, you’ll pay those costs and the agents’ commissions.

You won’t pay any commissions or closing costs when selling to an investor or iBuyer. They’ll pay their cost, and also your closing fees. Your settlement sheet will reflect these payments.

Closing

You and your buyer will sign documents in the final closing, keys will be turned over, and the new property deed will be filed with the county Register of Deeds.

Those are the basic steps. You’ve now sold your home!

We’ve introduced the four main ways to sell a property in Nebraska and covered the steps involved in a home sale in the Cornhusker State.

Requesting cash offers on your property from our partnering investors is easy. Simply complete the request form on our website, and we’ll share that information with our experienced cash buyers.

There’s no cost to you. Not one penny. And there’s no obligation to sell to any of our professionals making all-cash offers on your home.

Free, easy, and without any obligations!