Selling a house is a nerve-wracking undertaking. In fact, one report says that selling a home may be more stressful than bankruptcy, divorce or the death of a loved one.
Now, add the fact that you need to sell your house fast because of a new job, financial hardship, or otherwise unexpected life situation?
Now, the Pressure Is On.
But making quick decisions in a hasty way could leave you second guessing yourself over your bad decisions down the road. If you want to sell your home both quickly and with confidence, you’ll need to know all the available options so you can make an informed decision that works along with your circumstances and goals.
Let us review the choices so you can look back on the experience of selling your home fast without regret. You’ve got options so we’ll cover a lot of ground, including the dos and donts of how to:
1. List your house with a real estate agent in your area who has a proven track record of selling homes quickly.
2. Compare cash offers from financed buyers for a no-fuss transaction you can close within days.
3. See if you qualify for a short sale in the event that you’re underwater on your mortgage.
4. Get buyers bidding on your house by selling it at auction.
Let us take a peek into each of these directions so you can decide which one is right for your home selling needs.
Did you know that almost ninety percent of home sellers use a real estate agent to list their home? To navigate a process involving many many documents and lots of back and forth communications.
The National Association of Realtors’ 2016 Profile of Home Buyers and Sellers report states that homes listed with agents sell for a median 98% of the final listing price
A sudden life change can make selling your house for cash an attractive option, even if it means taking a price cut.
In your market alone there may be more than one instant home buyer that would throw their hat in the ring to purchase your house.
Different investors provide varying cash offer packages—while one may be able to offer you better pricing, another could waive the home inspection or promise a faster closing.
But if you take the first offer that comes your way, you might take a loss on your home’s selling price rather then maybe setting a time and date for all offers to be submitted to give yourself options to choose from.
The main thing you need to know about short sales is that the “short” refers to money, not time. Selling short means that your lender has agreed to allow you to sell your home for less than you owe on it.
As a general rule, short sales take a lot longer to finalize than a regular sale.
Not only will a short sale take a longer to complete, but most sellers are not eligible to short sell their homes. A seller would need to be financially underwater, behind on your mortgage and facing foreclosure.
So if you want to sell your home fast a short sale is definitely not the way to go.
Any homeowner can sell their house at an auction, and doing so may be a smart choice if you want to sell fast. Getting your home sold quickly is just one of the benefits of an auction sale.
Selling at auction is risky because you have limited control over the final sales price. As the seller, you set the minimum bid you’ll accept, typically at 10-15% below current market value, but after that, it’s up to the final bid.
After all, the last thing you want is for your home to sell for less than you owe.
So, with careful planning and the correct help, sellers can rest assured that they won’t sacrifice too much of their profits for the sake of speed. Now that you see some of your options for selling a house fast, it’s just a matter of selecting the best option for you. Selling your home fast can be scary, but it can be done.