Certain circumstances in your life may have pushed you toward doing this or you feel that you need a quick reset. Whatever your reasons are, one thing’s for sure: You need to sell your house fast. But how fast can this be done?
If you’re someone in need of a quick close to your home-selling endeavor, check out these helpful tips:
Target cash buyers
If you need to sell your home pronto, working with a cash buyer is for you. This kind of buyer will pay you in one go in cold, hard cash – you won’t have to wait for them to go through the motions of getting a mortgage. However, they will want to negotiate, especially if they will need to put a lot of work into your house. Be ready to sell for less than market prices.
Cash buyers usually look for:
Homes in good locations. These are properties in great school districts or near urban centers that cash buyers can renovate and sell to those whose priority in choosing a home in proximity to these said community areas – namely, families with school-age children and those with work in those urban centers.
Possible rental properties. Do you leave near a university or a business district? Then you can target landlords in the rental market.
Sell to iBuyers
When you deal with iBuyers, or instant buyers, you could close the deal in a week. These buyers are usually digitally centered real estate companies that make money by buying, flipping, and selling pre-owned homes.
All you need to do is:
- Fill out an online form
- Upload your property photos
- Wait for a cash offer.
Check out companies like Opendoor or Offerpad to see if they’re available in your location. If they are, and if your house is what they are looking for, then your home can easily be sold in the soonest possible time sans the headaches and stress.
There is a catch, though: You may get an offer that’s lower than market rates. Also, be prepared to pay a 5% to 12% service fee. Companies will also ask for deductions on the sales price for major repairs to your house.
Sell it yourself
Going the for sale by owner (FSBO) route is a good idea if you’re selling to someone you know or are aiming to save on agent’s fees.
Here’s a short home seller’s guide for those who want to DIY the process:
- Deep clean your home. Attract buyers with a house that’s squeaky clean. Scrub those kitchen countertops, walls, windows, and doors. Sanitize appliances. Dust your cupboards and cabinets and clean out the basement and garage.
- Repair and renovate. According to the National Association of Realtors, most home buyers want to avoid major repairs when they purchase a home. In fact, 36% don’t want homes with plumbing and electricity issues. Make sure to allot a budget for home repairs. You may even want to add in-demand features for prospective buyers.
- Invest in home staging. Help a buyer to envision what their life would be like once they live in your home. Remove your personal items and design a comfy space in neutral colors for your home’s future new owner.
- Boost your curb appeal. Spruce up your front yard so prospective buyers can fall in love with your house even before they enter. If you can, work with a landscaper.
- Create a great listing. Invest in professional photography and videography so your house can stand out on listing sites.
If you do sell your house on your own, be ready to give a “friendly discount.” According to NAR, FSBO sellers usually get $260,000 for a house, while real estate professionals can command $318,000 for your home.
Work with a professional
A lot of work goes into selling a house, and while you’re busy with your day job, you might miss out on some details like filing the right documents or paying the right fees. These mistakes could be quite costly in the long run.
If you want to minimize risks and hassles while going through the home-selling process, it’s best to hire an agent or Realtor with deep knowledge of the area and of what buyers want in a house. They can also help you come up with a cost-effective strategy to help you sell your house fast for the best price.