One of the mind-boggling questions that bother most Angelenos is, “how do I sell my house fast in Los Angeles?” There are different reasons why you can decide to sell your house quickly; job relocation, death of a family member, or you are just looking forward to another adventure. However, if the real estate in view is your horse farm, you either want to move on and buy a new house or are no longer interested. Unfortunately, there is only one stumbling block, and that’s what you need to resolve quickly.
Undoubtedly, these past few years have dealt a massive blow to many. Are you contemplating whether to sell your house fast in Los Angeles so that you can move on to your next experience? That is a sure way of turning life’s lemons into a sweet pitcher of lemonade.
Regardless of what is going on globally, selling your horse farm is of enormous importance, at least to you. Having created countless memories in such homes and spending a lot of money and effort to make it a special place, selling might be a difficult one for you. Nonetheless, if you think that is the best option for you at the moment, we had better help you do it right and fast. Particularly, if this is happening to you for the first time, you don’t have to make such decisions alone; we are here to help.
Usually, it would help if you renovated some properties before you decide to sell them. You can either sell as-is to cash buyers or make the necessary repairs before the sale. Selling a horse farm that needs renovations requires hiring equestrian real estate rehab companies.
If selling your horse farm is the next big thing in your life, you should do it the right way. In this post, we will help you learn the best way to sell such a house fast in Los Angeles. Selling a horse farm that needs rehab requires you to understand how rehab companies work.
7 Steps Explaining How Equestrian Real Estate Rehab Companies Work
- Property Inspection
Before any renovation is done, you need to know the level of damage. Therefore, the first step rehab companies carry out is to inspect the horse farm to assess the damage level. A random real estate enthusiast cannot do this successfully; hire a qualified inspector for a thorough inspection. Such an inspector must look at the property’s nook and cranny: roof to the basement. These are some of the things that real estate companies usually renovate:
- Air conditioners
- Basement water issues
- The roof
- The septic system
As a testimonial for a thorough work done, ensure you take pictures of the property before and after all renovations are completed.
- Scope of Work
After the property has been inspected, the company already understands how much renovation will be needed. However, real estate companies do not climb up the ladder to make the repairs themselves; hence, the need to create a scope of work. The scope of work will guide whatever contractor you hire for the renovation of the horse farm. Every form of installation or demolition must already exist in the scope of work.
- Hire a Contractor
As much as equestrian real estate rehab companies can plan and create a scope of work, the success rests on the contractor’s shoulders. This is why hiring a contractor is always a rigorous process for rehab companies. Some of the places they turn to in search of contractors are job boards, websites, or building departments. In the same way rehab companies need a trusted contractor, contractors are looking to work with reliable rehabbers; adding your objective, scope of work, and background information about yourself can help. Some of the things that are of importance to rehabbers when interviewing contractors are:
- Years of experience
- Workers on their team
- Equipment they own
- Licenses and permits
- Any bankruptcies
- Any subcontractors
Request some of the desired contractors to send in project proposals, review every bid, and choose the person you are most comfortable with.
- Organize Your Paperwork
Once the company decides on the contractor to hire, they begin working on the necessary paperwork. After both parties come to an agreement and have put pen to paper, the project starts. Important details contained in the paperwork include:
- Scope of work
- Independent contractor agreement
- Payment information
- W-9 tax form
- Insurance indemnification form
- Get Permits
One mistake a rehab company must never make while working on a property is to neglect the local authority. In fact, some renovations cannot be completed without the permission of the local authority. Ensure you find out what is needed and do them. Otherwise, the company is fined or has their property torn down, at worst. That is not something they want for their investment. Some of the things that might require a permit include:
- Upgrading/installing the electrical box.
- Cutting down trees.
- Working on public sewers.
- Re-roofing the property
- Changing the plumbing
- Closing and Final Payment
Once the contractor finishes his job, rehab companies perform a walk-through inspection to ensure everything in the work scope was done. If the job was satisfactory, the final piece of paperwork is signed and the deal completed.
Now the contractors have completed all the renovations; it’s time to cash in on your investments. Rehab companies usually ensure you can sell the horse farm for profit. Regardless, you must begin to have an in-flow of cash via the property.
You must understand that the rehab journey can appear intimidating. However, suppose you intend on selling a horse farm that needs renovation. In that case, you must first get the renovation done with the tips above. Afterward, you can find help on more procedures on how to sell your house fast. When next you are faced with the thought of how do I sell my house fast in Los Angeles, remember if the house needs renovation, you must hire a rehab company.