Options for Selling Your Home Fast
Selling a home is a big undertaking. If you’re also under pressure to sell your home fast, it’s even more challenging. It does not matter if you need to sell your house because of bankruptcy, a new housing opportunity, a new job, a divorce, a family member’s death, job loss. Whatever the reason may be, rushing the process of selling your home can be stressful, time consuming, and confusing.
All that said, you still have good options regarding how to sell your house fast. Make an informed decision about how to proceed so that you can choose the option that best fits your situation. To help guide you along the process of selling your home fast, here are some tips from the experts:
Tips for a Fast Sale
There are a few tips and preparation suggestions to help sell your house fast if you’re listing it yourself. Whether you’re working with a realtor or selling it yourself, each of these should be accomplished before listing your property:
- Deep clean and declutter your house, make quick repairs, and make affordable updates to hardware.
- Take high quality and well-lit photos for your advertising materials. Consider hiring a professional photographer to get the right effect.
- Write an inviting description of your property. Describe your home so that any potential buyer can easily imagine themselves making it their own.
- Price your home to sell. This means you’ll have to be willing to accept far less than market value.
- If your home is not getting enough attention, consider lowering your selling price.
When selling your home, you need to account for the many variables. Variables include the current state of the housing market, the state of the economy, how many homes are on the market at a time, and the mortgage interest rates. Depending on all of these conditions, homes may sell anywhere from a couple of weeks to a couple of months.
You can either take the time and energy to do these upgrades yourself, or hire professionals to clean, mow, repaint, re-stain, and declutter for you. Either way, there are many variables to consider when selling a home fast. In addition to dealing with contractors, cleaners, and consultants, some of the challenges people face when selling a home fast include working with brokers, lenders, buyers, title companies, and lawyers.
There are so many moving parts – what a headache! This is part of the reason why we’ve simplified the process with our unique cash buying method.
Options for Selling Your Home Fast
If you’re looking to sell your home fast, you have options outside of working with a realtor or listing the property yourself. Here are a few options for selling your house fast:
Accept a cash offer.
Accepting a cash offer for your home bypasses many of the hassles of selling a house fast. A cash offer avoids the process of hiring an agent, advertising your home, arranging showings, negotiating sale terms, and figuring out all the paperwork and documents. Companies that make cash offers typically do not require you to make any renovations or repairs, even the small ones. And while many people look to list their properties to get a higher price than a cash offer, this price cut is an easy trade-off for a quick and painless sale of your home.
List with an agent prioritizing a cash sale.
Real estate agents can be valuable assets when buying or selling your home, especially for a fast sale. Agents are experienced in taking care of the contract documents, negotiations, and communicate with you while navigating the technicalities of the sale. Agents prepare, explain, and advise on home repairs and upgrades, sale price, arrange showings, promote your listing, negotiate with buyers, and deal with all the closing documents. Of course, in exchange for their knowledge and skill, they require a 3%-6% commission on the sale.
Agents can be very good at selling a house near the listing price, which is closer to market value of the home. Even if you do receive full market value for selling your home, the expenses associated with an agent will cost you some of you return on your property. Agents have experience dealing with all the possible situations when selling a home. They can also field multiple inquiries, handling everything until you sign the paperwork at closing. They also serve you during the transaction.
If you have a tight timeline in which to sell your home, a real estate agent can work to abide by that.
However, this tight timeline is not guaranteed. As a result, agents are not for everyone. Finding and building a relationship with a realtor can take time and energy. Realtors will also strongly suggest you make the appropriate renovations and upgrades before listing your home for sale. Also, even when realtors are focused on a quick sale, between negotiations and closings this process still takes a great deal of time.
FSBO (for sale by owner).
A homeowner selling a house in a private sale may be able to manage the process for themselves. However, under a FSBO situation, homeowners have to wear all the hats during the process. It is not impossible to sell a home without experience, but it is a complex and difficult process. If you have not sold a house before, prepare yourself and do your homework. Learn the entire real estate transaction process, from pre-listing to closing. Also be sure to find a good attorney and title company and come to understand all the documents and liability you need as a seller. There are a handful of resources online and forums for buyers, sellers, and professionals that you can reference to gain some knowledge about the process.
A “for sale by owner” allows you to sell your home without losing the percentage of your equity that you would otherwise being sharing with your agent. However, unlike when you have an agent, the speed of the process of selling your house is out of your control. It is hard to place pressure on a buyer who is not in as big of a rush to buy as you may be to sell. As a result, selling your own property is very time and energy intensive.
Sell at auction.
Auctions are a great way to sell your home fast. Homes are auctioned based on the seller’s minimum sale price, so there’s little to no control over the actual final sale price. However, the process is fast. An auction can also be a great way to directly target a buyer who is focused in a quick buy. However, if you’re selling your home at an auction, be prepared to take a price cut.
Auctions shave off at least 25% of your home equity in order to facilitate a quick sale, and it could go for even less than that. Auctions also provide no opportunity for negotiations; you must take the price offered by the highest bidder. As a result, if may be difficult to even be able to pay off the remaining mortgage.
Short sale qualification.
A short sale occurs when a homeowner agrees to sell their home for less than what they owe on the mortgage loan. If the house sells for less than its value, it will leave a homeowner owing money to the lender. As a result, the lender must approve this deal. And while the process of selling a home by short sale may seem like it should be easy, it’s not. Despite the name of the process, the process is anything but short. In fact, it is no shorter than the other options and can even take significantly longer. It takes on average 4 months to finalize a short sale. Sell to a developer or an investor.
Developers and investors are in the business of buying a home as an investment and then renting it or renovating and flipping it for profit. But never forget, developers and investors buy your home fast to make a profit off of reselling it. In these types of home sales, a homeowner should be prepared to receive less than market value on the sale. As a result, you will miss out on getting the top dollar for selling your home.
Tips For A Quick Cash Sale
Companies purchase homes for cash for multiple reasons. Sometimes they are looking to convert them into a rental property or fix-and-flip investment. Other times they will tear-down homes completely and rebuild from the foundation. It all depends on their investment preferences. Whatever their reason, these companies will offer cash for your home. The cash price may be dependent on inspections, quality and condition of home being sold, and the rush of the sale.
Accepting cash offers are a streamlined and simple process. You start by contacting the company for a consultation and tell them about your property. With the information they have about your home, they will give you an as-is cash offer. Take this information and weigh it against the market value if you were to list your home with a realtor. From there, balance the price against your timeline. The best companies offering this service have no obligations or pre-sale contracts. The best of the best will even help you find a new place to live, pack up your belongings, and help you move into your next home.
When you work with a trusted cash homebuyer. the process is as easy as it sounds. There is no need for banks, inspectors, lawyers, or mortgage companies. And the process stays entirely on your schedule and in your control. No hidden costs or difficult personalizes to accommodate. The process is very fluid and predictable. There are no commissions, closing costs, packing/moving expenses, inspection fees, renovation or repair expenses, or other costs incurred when working with a realtor or conducting a private sale. This eliminates many of the headaches from selling your home fast – including the need to arrange and host showings or field calls from potential buyers or window shoppers.
Selling Your Home Fast with MarketPro Homebuyers
Overall, cash offers are the quickest way to sell your home fast for the greatest profit. And MarketPro Homebuyers provide top notch service for successfully selling you house fast.
MartketPro Homebuyers is a great way to sell your home fast. We offer a great bid package for buying your home from you quick and easy in Pennsylvania, Washington D.C., Maryland, and Virginia areas. In addition to providing an immediate fair cash offer, you won’t have to worry about closing costs, realtor fees, repair expenses, or the hassle of cleaning or making repairs. We work directly with you on your timeline and respect your need to move on with your life. This is best for anyone who wants a painless and expedite home sale process.