What Are My Options?
Home selling is already a daunting task. It becomes even harder if you want to sell it quickly. There are plenty of reasons a person might want to sell his home. It could be unforeseen troubles, downsizing, financial disturbances, a new job, or an upgrade.
In any case, the pressure of selling your house could lead you to make some sloppy decisions. If things get out of control, you might end up underselling your house, consequently leaving money on the table. We have gathered some safer routes for you to take to sell your house quickly at a considerable margin.
You want to sell your house fast, but unsure how?
The following five options can help you make informed decisions that align with your current situation and help you sell your house faster.
1. Short Sale Your Home
There could be plenty of reasons why you might want to sell your home fast. You might be going through a divorce, the property might be behind its payments, or maybe you are going bankrupt. These reasons could lead you to homelessness.
To avoid these situations, you could short-sale your home, which means selling your house for a price less than you owe to your lender. However, these sales take longer, usually 3 to 4 months more than regular sales. Hence, it is not a fast route to sell your home.
2. Hire a Professional Realtor
Around 89% of homeowners hire realtors to sell their property. That is because these realtors are professional home sellers, and for a small commission, ranging between 6% to 8%, they can sell your house quickly and for a profit.
A good realtor can help you set your home for viewing to setting a price for your property. Moreover, their chain of network helps them to gather the maximum number of potential buyers possible.
3. Auctioning Your Home
Auctioning your home could be another solution to your problem. Selling your house through auction might sell your house within a couple of months. The great thing about auctioning is that not only can a distressed seller sell their house, but any homeowner can.
Selling your home at an auction comes with its fair share of risks as well. You will have to pay a percentage of your sale to the auctioneer. That can a hard pill to swallow if your house does not sell at a price you were hoping for.
4. Underselling Your House
This one is an obvious option if you want to sell your house. All you need to do is undercut your competition. In this case, other houses in the neighborhood. For example, if you want to sell your house in Huntsville, Alabama, quicker, then you have to drastically reduce your asking price to attract the maximum number of offers.
5. Sell Your Home to a Cash Buyer
This method is exactly what it sounds like. This is the quickest, reliable, and one of the most favored options of home sellers who want to sell their homes quickly and hassle-free. It is estimated that every one out of four homes is sold for cash. This statistic might indicate how popular this form of home selling has become.
What is the Process?
It does not matter where your home is located; the process of selling your house is usually the same. More often than usual, the process starts with a phone call. This allows the buyer to gather the information he needs to decide whether to buy your house or not. Some companies might do a bit of research to come up with an offer.
Once all of that has been done, the buyer will approach you with an offer. If accepted, the deal is closed in a matter of days, usually in a lawyer's office.
Very Few Sales Fall Through
When you decide to sell your house to a cash buyer, it is very unlikely that your sale falls through at the last minute. Since there is no bank or third party involved, after the transfer of cash, there is no backing out.
Usually, there are several fees linked with selling your home in an orthodox way. The biggest of them is the commission that you have to pay the real estate agent.
When you are selling your home to a cash buyer, you can bypass paying commission to the real estate agent. You will also be able to avoid fees for property inspectors, appraisers, closing costs, sellers commission, property tax, insurance, and everything in between.
You Might Get to Rent the Place
Usually, cash buyers invest in properties to put them up for rent to earn a profit. This can be a great opportunity for you to keep a roof over your head if you do not have anywhere else to go. You can be asked to rent the place by the buyer. This way, you can avoid foreclosure and still have a roof over your head.
You can Sell Your House As-Is.
If your house is not in the best of shapes, then it is probably better to sell your house as-is, to save money and time. Such houses are not easy to sell to families looking for their next home. But cash buyers will have no problem buying such a house from you.
Instead of waiting for an offer and hoping that everything goes through, selling your house for cash is a much faster option. You can close the deal within a few days after the cash offer is accepted. No more waiting for months to get your house sold.
Selling your house for cash is very convenient when you want to move quickly or in need of cash. You can avoid financial problems sooner if you sell your house for cash.
Ease of Sale
Dealing with cash buyers can be very convenient for you, as all the parts of the sale will be handled by the buyer. You will not have to worry about staging your house or having people coming in and out. The whole process is smooth, speed, and, most importantly, a stress-free sale.