From Listing to Cash: Unveiling Home Selling Strategies - Traditional, Cash, and YHSGR Guaranteed Sale Program
Welcome to another captivating episode of Your Home Sold Guaranteed Realty Real Estate Talk & News Radio Podcast Show!
In this episode, your host Rick Kendrick is joined by Karey Kendrick as the briefly touch on Property Taxes and dive deep into the Your Home Sold Guaranteed Realty cash offer program.
In this episode, we dive deep into the world of home selling, exploring three distinct pathways to success.
Hosts of Episode #10
Listen in to this week's episode where Rick and Karey discuss the latest market statistics for the South Florida real estate market. Additionally they provide listeners key tips to sell for more money. Rick is a Palm Beach Real Estate agent who hosts his own weekly radio talk show and podcast on a wide variety of real estate topics.
Meet Karey Kendrick, your expert co-host for all things real estate on our podcast! With an impressive career spanning over 25 years, Karey is a seasoned and accomplished real estate broker. Her wealth of knowledge and experience in the industry make her the go-to authority for all matters related to buying, selling, and investing in properties.
Listen to the Show
Listen, download and share Rick Kendrick's Radio Show on your favorite music or podcast app.
Traditional Marketing Approach
Discover the time-tested approach to selling your home through the open market. We'll explore the strategies that have stood the test of time and share tips for maximizing your property's value.
Multiple Cash Buyer System
Explore the advantages of selling your home to a cash buyer. Learn how this quick and hassle-free option can streamline your selling process and put cash in your hands fast.
Guaranteed Sale Program
Dive into our unique and innovative approach to selling your home. We'll explain how our Guaranteed Sale Program combines the best of both worlds, offering a traditional listing while providing the safety net of a cash offer if your property doesn't sell within a specified timeframe.
Whether you're a seasoned seller or just starting your real estate journey, this episode will empower you with the knowledge you need to make informed decisions and achieve a successful home sale. Don't miss out—tune in now!
Enjoy this episode "Unlocking Home Selling Strategies: Traditional Market, Cash Buyers, and Our Guaranteed Sale Program" Subscribe now and elevate your real estate game!
Transcript of Episode #10
Welcome to the your Home Sold Guaranteed Radio Show, where you get advice you can trust, from the latest real estate trends to the best mortgage rates, from curb appeal to home warranty. This is the show that will help you save and make the most money when it comes to buying or selling your most valuable asset. Now here's your host, broker and founder of your Home Sold Guaranteed Realty of Florida, rick Kendrick.Rick Kendrick:
Happy Sunday, everybody. Welcome to your Home. Sold Guaranteed Realty. This is Rick Kendrick and today, of course, I have my broker with me, Karey. Karey, welcome back.Karey Kendrick:
Thank you, Rick. Happy to be back on the show. It's.Rick Kendrick:
Labor Day weekend. So you got, we got big plans, don't we?Karey Kendrick:
Of course, yeah, going out on the boat.Rick Kendrick:
Going out on the boat. Speaking of the boat, you know we had Tim on our show last week and you know one of my bargaining chips was that if you were to come on the show, he's the guy with earth graphics. Right, you know? The designer landscape designer said yeah, yeah, yeah, I'll come on the show, but you gotta take me fishing. And we went fishing right after the show and guess what? We caught up 30 pound Mackerel. So he was a happy camper. It worked out well. So we all had a good time, that was a good show and we enjoyed it. Now, Karey, as we got in the mail, as everybody got in the mail, we got our notice of proposed taxes for 2023.Karey Kendrick:
We sure did.Rick Kendrick:
So we wanted to talk about that a little bit and kind of break it down see what what it means and some advantages that you may have that you may not realize that you have as a homeowner. Number one and number two you get to find out what your taxes are for this year because these are 2023 taxes, so taxes are actually. You pay them in arrears, is that right?Karey Kendrick:
Yes, it sure is, yep. So we just got notice of what the 2023 taxes are going to be. So everybody should have received in their mail from their local county what their proposed taxes will be.Rick Kendrick:
So we looked at ours and we first I got a heart attack and then you started explaining it to me and we wanted to kind of talk a little bit about that our increase was like 50% on an assessed value.Karey Kendrick:
Yeah, so I think what's really interesting about this notice is that on one side of it, they give us their estimate of the market value of our properties and they tell us what the increase is from last year that they value the property at, and ours went up 51%.Rick Kendrick:
Again, I had a mile heart attack. But then you started explaining to me and it seems like to me that when you really look at, when you get really down to it, we're going to talk to you about how that really doesn't mean our taxes are going to increase by 50%, right?Karey Kendrick:
Right. So, fortunate enough for us, we live in our home as our primary residence, so it is homesteaded, so we do get to benefit from the save our homes cap, which actually caps the increase in your assessed value by 3% per year. So our taxes are not going to be based upon what its current market value is at all, which is a relief, to say the least.Rick Kendrick:
So let's just kind of define when we talk about property taxes. Now, this doesn't relate to renters. These are folks who actually have bought a house and live in the house, but they have to live here how long before they can claim homestead exemption.Karey Kendrick:
There is no time frame for living here. You just have to purchase a home and it's going to be your primary residence or your homestead. So let's say that you close before the end of this year, all right, before the end of 2023, okay, you would be able to declare homestead on your property for next year's tax year.Rick Kendrick:
Hence. So if you haven't bought a house yet, this is a time to buy it. You need to buy it before December 31st to claim your homestead exemption for next year, right, Karey?Karey Kendrick:
Ah, yes.Rick Kendrick:
Can you kind of tell me a little bit about the exemptions that we're talking about that come with this unique thing called homestead exemption?Karey Kendrick:
Yes, a homestead exemption. Basically take whatever our assessed value of our properties are and then we back out the exemptions that we're entitled to. So if you own a property that's worth in excess of, let's say, I think, seventy five thousand dollars, you're able to claim a fifty thousand dollar homestead exemption. Now there are other exemptions as well, depending upon what you would qualify for. There's various ones that cover widows, some disabilities are covered, veterans, surviving spouses and that sort of thing that further decrease the tax basis of your properties.Rick Kendrick:
So these exemptions that we have are beneficial to folks who have, who actually own home.Karey Kendrick:
Yeah, so the homestead exemption is just one of the benefits right of owning a home as your primary residence in the state of Florida. You also are able to take advantage of the save our home, which is the 3% cap on your assessed value increase each year. You also have your portability. So let's say you sell your home and you purchase another one, you can actually take that tax benefit with you to your next property.Rick Kendrick:
Wow. So the aspect of being able to use that portability you might have a tax savings in reality when you buy a new home. Is that right For?Karey Kendrick:
sure, and it really applies to somebody who has lived in their home for a long period of time They've managed to. The property values have risen so high that their assessed value is going to remain relatively low. So they can take that savings and apply it to their next home and it can be quite a substantial, you know, savings in taxes.Rick Kendrick:
Also, I know that there's some type of protection that goes with Homestead Exemption, for example. Creditors is that? Is that right?Karey Kendrick:
Yes, so that exemption, the state of Florida, actually offers homeowners protection against creditors. So let's say, for example, you have medical bills or credit card debt and they try to get a judgment against you. They can, but they cannot force you to sell your home in order to satisfy that judgment.Rick Kendrick:
But then there's a, there's a couple of folks that have these. These aren't exempted from as like the United States government right With federal taxes and the mortgage people correct.Karey Kendrick:
Yes, so if it's specifically related to the property, so first mortgage, second mortgage, homeowners associations, they can force a sale to collect on their judgments.Rick Kendrick:
So what about if they're, instead of moving up, they're moving down? What does that concur with? Yeah?Karey Kendrick:
So let's say, for example, that the value of your home, okay, that you're selling is worth 500,000, the market value, but, due to save your home, your benefit is 200,000. So whenever you go to, let's say, if you're purchasing a home that's like an up-size right, so you're moving up, you could take that whole 200,000 and apply it to reduce your taxes on your new home, whereas if you're downsizing it's actually a percentage or a prorata share. It can be confusing, I do have to say, but luckily enough for us, the local taxing authorities okay, the various counties, palm Beach, et cetera have a great tax calculator. So if you are thinking of making a move, all you do is you first start with looking up your own property, okay, and just jot down the market value and the assessed value, and then what you're going to do is you're going to look up the home that you're considering purchasing and you'll see a button that says tax calculator and you'll go ahead and you're take that information from the home that you're selling and you'll apply it to your new home and it'll tell you what your tax savings are.Rick Kendrick:
It's really great to have this information in advance. I mean they get to know what their taxes are, that they're going to start paying next year, even though it's in the rears. So listeners, beware your proposed property taxes are out there or in your mailbox. You've already got them. Just to let you know that's coming about. It always comes right about now in that August September range, right? Kari?Karey Kendrick:
Absolutely yes, and owners also okay. If they disagree with the property assessment, they can file a petition, all right, and so the deadlines for the counties throughout Southeast Florida vary just a little bit. The deadline to file an appeal to get your value adjusted, rather, in St Lucie in Palm Beach County is going to be September 12th, martin is the 11th and Broward is the 18th.Rick Kendrick:
So I know this is a lot of information, listeners, but I tell you, you know it's something to be aware of. Just like I said before, if you guys are thinking about doing something as far as purchasing, now is the time to make a purchase so you can claim that home set. All you got to do is close by the end of December, december 31st. Kari, you and I just love the opportunity to be on the radio and have the listeners listening to us. Today we're out there every day meeting home sellers and buyers, so if you know anyone concerning to make a move, we'd love the opportunity to interview for the job. Give me a call at 561-901-3333 or rickhasthebuyerscom. After the break, kari and I will be diving into our topic today. Topic today is three ways to get your home sold guaranteed. More on that when we get back. Stay tuned. This is a Rick Kendrick show your home sold guaranteed reality.Dave Sturgeon:
The schedule and appointment with Rick Kendrick to help you buy or sell your home. Call 561-901-3333 or go to rickhasthebuyerscom. Rick will be right back with more of the your home sold. Guaranteed radio show here on News Talk 850 WFTL.Jennifer Ross:
I can't tell you how many times I hear people say I'm not really crazy about the real estate agent I'm using. Can you suggest anybody? Hi, it's Jennifer, of course I can. My friend Rick Kendrick, from your home sold guaranteed reality of Florida. You're like well why Rick. Rick is so confident in his marketing system to attract the right buyer for your home that he guarantees to sell your home at a price and a timeline that you all agree to, or he'll buy it for cash. And Rick's customers love him. Rich and Cindy. They were eager to capitalize on their investment property, so they got in touch with my friend Rick Kendrick and his expertise to help them to sell their Jupiter condo. For only five days on the market, rick was able to bring them a buyer who willingly paid $10,000 over the asking price. The speed with which Rick was able to sell their condo over the asking price truly highlights once again Rick's remarkable ability to achieve outstanding results. Call them right now and schedule an appointment 561-901333, or visit rickhasthebuyerscom.Eric Rosemary:
Hi, I'm Eric Rosemary, branch manager at Cross Country Mortgage in Boca Raton. If you're deciding which lender to trust, whether you're purchasing or refinancing, I would love the opportunity to work with you. Over my 20 year career, I've helped close to 10,000 families buy or refinance the place they call home. Despite what you're hearing about interest rates, you might be surprised, as what we can do for you, let's talk, call or text me at 954-312-3104 or visit rosemarymortgageteamcom.Rick Kendrick:
Hey, welcome back from the Break the Segment. We're going to be talking about our unique sales program that we have with just our company, your Home Sold Guaranteed Realty the big one here. Okay, three ways to get your home sold Absolutely guaranteed. That's the reason why we named our company, your Home Sold Guaranteed, because we want to make sure, if you list up with us, so to speak, that we're going to have that house sold so you can move on to what you want to do. Okay, Karey, let's get into the three particular sales that go through this process. So we have the traditional sale, okay. Then we have the guaranteed sale program and then we have the cash offer program. Three ways to make this thing happen for you. So let's cover the first one the traditional way. The traditional way where people are looking to get the most amount of money out of their house, correct?Karey Kendrick:
Right, yeah, so the advantage of a traditional sale is that you are opening up your property to a wide pool of buyers, which can create a lot of competition and that can drive up the sales price of your home. So if getting the most amount of money possible out of the sale of your home is your objective, you probably would want to go the traditional route.Rick Kendrick:
And that's the big thing is that in a traditional sale you have that wide range of buyers that you're dealing with. You have to prepare, but you don't mind that. What you want to get is the most money out of your home. Your most important asset is what I'm saying to you. Is that right?Karey Kendrick:
Yeah, so you're preparing your home for sale. You're going around tidying up, you're taking care of any minor repairs that might need to be attended to. You are getting ready for showings. Right, you have to keep your home show ready because you're going to be having buyers come through your home.Rick Kendrick:
There is a disadvantage for doing showings and things of that sort, but on the average, the average days on the market is 52 days, where we are usually about 35 days on the market from close to sale. So anyway, that's number one In traditional sales again are a situation where you are in the process of negotiating. Number two you have to deal with appraisals. And number three you've got to make sure your buyer is going to be qualified and you're going to be going through a 30-day process and you have to be out by a certain time. But sometimes we can work that out with a potential buyer. Number two our guaranteed sale program. So basically, the internet shows this, if we can come to terms, meaning agree upon the price, agree upon the time as far as getting your place sold, and number three getting the sold at the price that we both agree upon. If we can agree on those items, okay, we'll have a guaranteed sale program. Now, how does that make an advantage to them? Carry in relationship to the traditional sale.Karey Kendrick:
So it's almost sort of like a hybrid right, like it's kind of a mix of both a traditional and a cash offer. So basically what you're doing is you're putting your home on the market. Okay, for a set number of days, all right. And if the home doesn't sell within that time frame, you have a guaranteed offer in place to go ahead and move on and get that home sold, all right. And the great thing about it is that if during the course of the marketing period, the seller ends up with an offer that's higher than the guaranteed sale price, the seller gets to keep all that excess cash.Rick Kendrick:
Yeah, and that's the major advantage is that you, the seller, are able to get that money. We've been using this quite a bit with people who are currently building new homes right, and a lot of times builders do not offer a contingency on them selling their house. So, no matter what, when that house is done, they got to write them a check to get that, to get the new home. So we'll guarantee if we meet it at that timetable, we'll guarantee we'll either sell it or we'll buy it.Karey Kendrick:
Yeah, so the sellers know with confidence what their minimum net proceeds is going to be.Rick Kendrick:
When you have a guarantee. You just got that feeling of comfortable. You know you got an end to the end road here.Karey Kendrick:
Yes, and the great thing actually about both our traditional sale and our guaranteed sale program is that it also applies to the buyer of your home. Okay, so if a buyer walks into your home and has a house to sell, Rick will actually guarantee the sale of their home so that they can purchase yours. So you'll know with confidence that that buyer's offer is not going to be contingent upon them selling their home.Rick Kendrick:
We pretty much make sure this home is going to be sold guaranteed. Another one that just popped up that we're doing quite a bit right now is a cash offer program. Now, this cash offer program is not a traditional cash offer program. It is offering cash for the house. So, carrie, kind of talk about a little bit about the cash offer program.Karey Kendrick:
So the great thing about your home's sole guarantee realty is that they've created a network nationwide of iBuyers institutional buyers, real estate investment trusts okay, reits all folks who are well capitalized, okay are purchasing homes for various scenarios, right, various investments.Rick Kendrick:
About 62 of them.Karey Kendrick:
Yeah, so far, they've managed to accumulate about 62 investors. Okay, so what this does for a seller is it gives you options. Okay, most often, what you'll hear of is a cash buyer, right, so you'll call them, they'll come over to your home and they'll give you an offer, all right. Well, in this scenario, you actually get to choose from several cash offers, all right, and you can actually even negotiate with some of these buyers as well. So if you're not quite getting the net that you need, we can actually go back to them and sort of negotiate that up for you.Rick Kendrick:
So what I see about the advantage here is that a lot of times, people do not want to have people walking through their house, right, they just do not want to set up their house, they don't want to paint the house, they don't want to do anything to the house. It may be a probate thing, it may be something they inherited, right, and they just want to get rid of it. Right, we're here for them. And we just don't have one institutional investor. We have over 62 available. So when you look at what we have to offer, we have a traditional sale, we have the guaranteed sale and then we have the cash program sale. What else do you need when we say we're going to do this for you? We're going to guarantee that we're going to do this. Your home sold, guaranteed royalty. So I say, after the break, let's talk about our feature week and our buyers and waiting program and we'll talk a little bit about your home sold guarantee. Go, sir, big mission. This is Rick Kendrick and we'll be right back.Dave Sturgeon:
The schedule and appointment with Rick Kendrick to help you buy or sell your home. Call 561-901-3333 or go to rickhasthebuyerscom. Rick will be right back with more of the your Home Sold Guaranteed Radio Show here on News Talk 850. Wftl.Jennifer Ross:
Hi, it's Jennifer Ross and you know if you've been thinking about selling your home, you already know that the only agent that I would recommend to you is my friend, rick Kendrick. He's a broker and founder of your home, sold guaranteed realty of Florida. Now what about the listener who would love Rick to sell but doesn't want to deal with the headaches of cleaning, staging, holding open houses and all that other stuff?Rick Kendrick:
Well, jen, we have the perfect solution. First of all, we always like to make our traditional home selling process stress-free. But for the listener who doesn't want to fix up their place, who is inherited a home or simply wants a fast, hassle-free sale, we can make them an immediate cash offer and for that seller to get the most amount of money for their home.Jennifer Ross:
Come on, you can do that.Rick Kendrick:
Absolutely, Jen. We'll come right over, praise a home, make you a fast, fair cash offer and close as little as three weeks Cash in your hand Hard to beat it.Jennifer Ross:
Call Rick Kendrick right now, 561-90133333. That's 561-90133333. Or visit rickhasthebuyerscom.Eric Rosemary:
Hi, I'm Eric Rosemary, branch manager at Cross Country Mortgage in Boca Raton. If you're deciding which lender to trust, whether you're purchasing or refinancing, I would love the opportunity to work with you. Over my 20-year career, I've helped close to 10,000 families buy or refinance the place they call home. Despite what you're hearing about interest rates, you might be surprised, as what we can do for you, let's talk, call or text me at 954-312-3104 or visit rosemarymortgageteamcom.Dave Sturgeon:
If you're ready to buy or sell your home and would like to schedule an appointment with Rick, call 561-901-3333 or go to rickhasthebuyerscom. Now back to the your home sold guaranteed radio show and your host, rick Kendrick.Rick Kendrick:
All right, in our final segment of the show we're going to be highlighting one of our listings that we do on a weekly basis. So, listeners, if you're considering to make a move and you have an interest in having your home featured in our radio show, we would love to discuss this with you. So our big listing for the week that would like to highlight this one is definitely waterfront. It is in North Palm Beach. It's a two bedroom, two bath, facing direct east, on the first floor, over 1,100 square feet, actually overlooking Singer Island Beautiful. It has a dock right outside the door. There. This unit is a 55 and older community. Okay, it is located in the heart of North. You can walk to anywhere. This particular unit, actually, it has a marina that you can walk to. So if you have a boat and you need a marina to put your boat in, we have the marina. Number two, if you're a golfer, it has the 30 million dollar renovation at North Palm Beach Country Club which is public, by the way that you can walk to that has a Jack Nicholas golf course. So this community has not only the great view but the amenities that you can actually walk to. So, carrie, I don't know, we live in North Palm Beach right, and so we love it, and this is located right in the heart of. Don't you think that North Palm Beach has a lot to offer people?Karey Kendrick:
Oh, we absolutely love living in North Palm. Beach.Rick Kendrick:
And it's a community that it has a mixture of young families and retirement people, but it is a community that offers so much that you can enjoy. So, with that in mind, you know you really need to take a look at this one. Give me a call if you want to take a look at this. My name is Rick Kendrick. My number is 561-901333. You can contact me there or even, if you want to, you can text me at that number too. I'll be happy to set it up to to make that showing for you. Okay. So our buyers in waiting, carrie, you know we had like eight buyers come in today. I'm in this week. We met with them, we got them pre-approved, we got them out there looking. Think about this we are consistently getting four or five or six new buyers pre-approved ready to go on an ongoing basis. We have over 20,000 people in our database. So, sellers, if you're thinking about maybe making a move, this is like money in the bank to you, with a guaranteed sale that we have for you and, on top of that, that we have buyers in waiting. This makes it advantageous for you. Let me give you an example. We have a buyer that we just approved. Okay, that can do conventional loans. They can do 15% down, okay, they're ready to make the move now. They are qualified and pre-approved up to $550,000. They would love to see your house If you this kind of matches your criteria. Now they do want to be in Palm Beach County all right and they would like to stay at the north end around the north Palm Beach, jupiter area, juno area. That area would be ideal for them. So if you are thinking about you know, putting your place on the market, you're thinking about you. I want to do something. Give me a call. I'd be happy to come out, take a look at your property and then, more importantly, give you a kind of an evaluation If it meets their criteria. The next thing I'm going to do is I'm going to set up an appointment for them to take a look at. I hope that that works for you. So give me a call at 561-901-3333 or rickhasdabyerscom. So carry our go serve big mission. How's it going?Karey Kendrick:
So yeah, so, rick and I, we love to highlight our go serve big mission on our radio show, so we do donate a portion of the proceeds from our home sales to various local charities throughout the southeast, and so some of the ones that we support are Little Smiles and the Law Enforcement Assistance Foundation. So if you are considering a move, or you have any friends or family members who are considering a move, we would love the opportunity to discuss it with them.Rick Kendrick:
You know, Karey, we just had a couple closings and it was really delightful. What we do is we get in front of our buyers who made a purchase on one of our listings or we found them a home, and we actually take a picture with a big check showing them where this money is going to, either, you know, the Little Smiles or the Law Enforcement Assistance Foundation. They get very excited about some of them. Actually, Karey, donate more money than what we contribute, so we'll donate a portion of our proceeds, but they'll actually write a check for more of that amount.Karey Kendrick:
Yeah, and if there's a specific foundation or charity that is near and dear to your heart, we would certainly be honored to make a donation on your behalf at a closing so listeners.Rick Kendrick:
I think today has been very enlightening to you as far as the tax thing, so kind of get ready for that. Well, thank you for taking time for listening to us today. This is a Rick Kendrick your home sold guaranteed reality show that we actually serve the southeast coast. Our network extends across the country in Canada. You can call me or text me at 561-901-3333. Karey, thanks for digging into that tax information because it gets very confusing to me. But that's okay. You know the numbers and really when you look at you know when you're dealing with taxes. It's a big thing. But here's a great thing when you as a company like us your home sold, guarantee reality can say to our people that list with us, no matter how you look at it, you better start packing because we're ready to go. This is Rick Kendrick with your home sold guarantee reality. We look forward to our show next week every Sunday at 10 am on News Talk 850 WFTL.Dave Sturgeon:
You've been listening to the your home sold guaranteed radio show with broker owner Rick Kendrick Heard every Sunday morning here on News Talk 850 WFTL. Rick's company name is his promise your home sold guaranteed reality. To speak directly to Rick about buying or selling your home. All now to schedule an appointment 561-901-3333, or visit rick has the buyers dot com and mark your calendar to join Rick again next week at the same time for the your home sold guaranteed radio show here on News Talk 850 WFTL.