Plenty of stressed homeowners are looking for the secret to sell their house real fast. Whether is was a planned move or not, sometimes even the best of us end up scrambling to sell quickly.
If your reading this article, you may be someone along those lines. You are doing such due diligence here today…which is good. The article will specify the standard 3 ways to sell houses fast. Pick an option best for you once you have weighed the pro’s and con’s.
Whatever the situation is, you have become motivated enough to take quick and possible decisive action.
Hire A Top Notch and Motivated Realtor
You have a few options starting with simply listing your home with a top notch realtor and “pricing it right.” This is often the most popular way to sell a home and for good reason. A good realtor can typical help you obtain a value close to the other comparables in your neighborhood.
There is however, a common misconception that this is the only way to get a good or near full price offer on your home. To top it off, 6-7% of the sales price is typically gone to pay for the agents services. They have done their job if it sells. Everything from evaluating your home, making staging suggestions, listing it on the MLS and other public websites, held open houses. The also ensured that all the paperwork and sale contract were written up in fair and full disclosure.
Now, some houses are fast top dollar sales. They can be in a buyers hands in as little as 30 days if all goes real well. By the way, this is not likely to happen unless the buyers for your neighborhood greatly exceed the supply and everything is A1 in your home.
List Your House Up For Auction
If you do not have at least 30 days or more to work with, a realtor is not likely to be the best solution for you. They cannot make your buyer bring cash to the buyers table, sorry. You are simply are the mercy of the buyer’s lender preparing a traditional mortgage which requires a lot of additional red tape.
You could also put your house up in an auction. There are private auctions that can list your home. Locate them by doing a Google search. You can set a minimum price you will accept. Once bidding has reached that minimum, you will be under obligation to deliver your home. Homes in an auction are typically bought site unseen other than some pictures. You are not likely to get anywhere near full asking price and may be required to vacate your home faster than you would like. The buyers who enter these auctions are looking for a bargain. Don’t plan on getting fair market value even if your home is up to date and well kept.
Locate A Professional Home Buyer in the Area
The third option is to simply sell your home to a residential real estate investor; a professional home buyer. This is going to be the fastest and sometimes the most flexible option you have. This is especially true if you need to sell your home as-is and fast!
Be aware, some professional buyers only offer cash buyouts. On the downside, you will not get top dollar for a cash deal. They are investing in your home and must take it into inventory. From there they must update, resell, rent it out etc. and there are holding costs and liability risks involved.
If speed of closing is most important to you the majority of professional home buyers will have fast cash available and can close in less than a week. Find a one who is willing to listen your situation and timetable and provides a good solution for you.
Home buying companies may do rehab work or updates your home may require before marketing it to other parties. Sometimes they will simply sell their rights to the contract agreement with you by “wholesaling” their buying rights to another investor such as a landlord who is strictly in the rental business.
There are a few companies out there that offer some creative and often very financially beneficial ways for you to get a top price from your home even if you have limited equity. This is beyond the scope of the article.
The key is…only certain companies have a business model offering these terms. If you have limited or no equity in your home, cash buying only companies may not a good solution. You may end up owing your bank a lot of money to cover the balance of the mortgage on it. Look for the right kind of investor – one who can make you multiple types of offers for you to choose from.
Remember a key point here… a home buying business has to be able to make money in taking your home off your hands. They are taking on your risk, repairs, remodels and any the carrying costs involved to get the house earning a return for the business. If the real estate market goes down, the investor can really get stung. During the housing crisis for example, many many buy and hold home investors “perished.” (went out of business)
If you need to settle your affairs with your home in 30 days or less, you are going to come out best working with a professional home buyer you are comfortable with. They will have the resources and hopefully multiple programs on terms designed to get you close to what you house is worth.
Conclusion To Selling Houses Fast
It goes without saying some of this, but I will mention it anyway. Be sure to have your house in top shape if you are working with a realtor. It should be decluttered, staged and very clean to encourage a fast sale. No, it isn’t a requirement to update it so speak, just realize that more modern homes near you will go for a considerably higher amount. Understand that retail home buyers want to be able to visualize themselves living in your home before they will consider buying it. If it is cluttered and in disrepair and not manicured (grass and landscaping) nicely, that presents a psychological hangup for a “typical buyer.” A spic and span home inside and out will always sell quicker and for a higher dollar amount. It is well worth the efforts.
If you are unable to wait or cleanup and thinking “I want to sell my home as is and very fast, you would be advised to seek a professional home buying company. As-is purchases are common and you can walk away once you have closed with them.
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