Looking to sell a house fast? Home sales can be quick and easy, or slow and painful.
Online “guidance” on selling property fast is flat out wrong. Articles talk about upgrades, curb appeal, hiring real estate agents, professional photography. Any of that sound like you will be closing in two weeks? This advice will delay or halt your sale altogether. Not surprisingly, most of those articles are written by realtors to get their 6%.
Selling property swiftly takes a few steps. If you’re interested in moving on from real estate sooner rather than later, read on!
Step #1: Find A Buyer Online
Selling a house fast means finding a buyer fast. There are several common ways to find a buyer. Some home sellers will list their property on the MLS with a realtor. Going the real estate agent route means interviewing realtors, negotiating listing agreement, preparing the house for listing (all this before property is listed). Putting aside the 6% you spend on realtor fees, the finding a buyer on MLS takes a while. Another option is “For Sale By Owner” websites like Craig’s List. You still have to sign-up for several hundred dollars (these websites only have free stripped down plans or short time periods), write an online listing, schedule professional photographs, manage various buyers.
The best quick sale option is finding a cash buyer online. Professional home buyers like House Heroes buy houses online. Google “sell my house fast”, find the website, and contact the buyer. Legitimate real estate companies specialize in cash offers in under 24-hours and easy closings. If you’d like sell a house fast for a fair offer, give us a ring (954) 676-1846. Make sure to properly vet any purported cash buyer by requesting proof of funds and reviewing testimonials.
Step #2: Get a Cash Offer
There are two kinds of offers when selling your house: mortgage finance and cash. Mortgage financing slow and dragged out. Mortgages take multiple months for approval and are often denied at the last minute if the bank decides not to pay up. Negative credit event, change or loss of income, low appraisal, poor property condition: these are all reasons that banks commonly decline mortgages. Mortgage guidelines prevent underwriting on fixer-upper and handyman houses. According to Blue Water Mortgage Corporation, loans are regularly denied due to poor credit history, insufficient income or asset documentation, small down-payments, property condition, low appraisal, and limited employment history.
Cash is different. Cash requires approval of one person: the owner of the cash. No procedural red-tape like with banks or government mortgages. Cash buyers close without mortgage denials, appraisals, poor property condition. Skip the 2-month delay while the bank ponders whether to under write the mortgage. Want a fast house sale? Cash is the only way to go.
Step #3: “Sell As-Is”
Renovating property takes a while. House Heroes flips homes. We can attest to completely rehab a property takes between 2 to 4 months, depending on severity. It costs tens of thousands of dollars to rescue a house. Don’t have money to commit to fixing a property? Don’t have time to work on it daily? “As-is” is the solution when your house is a an ugly fixer-upper.
Remodeling is slow and less effective on owner-occupied property. Contractors can’t work efficiently with people present. Even more problematic, to get maximum value, the entire house needs to appear fresh. Living in a home through the rehab means earlier finishing is worn by the time you sell. Not a good use of your money.
Step #4: Avoid Contingencies
Real estate sale agreements have a few “contingencies” that allow buyers to back-out. The “inspection contingency” let’s buyers cancel in 10 to 21 days if the buyer doesn’t like what he sees inside. The “financing contingency” permits a buyer to cancel if they can’t get the money (i.e. mortgage). The “appraisal contingency” let’s buyers terminate the agreement if the appraisal falls below a certain number.
You can speed up the sale by negotiating away each of these conditions. This is not possible for home buyers dependent on mortgages (which are denied if inspection is poor or low appraisal). Cash buyers like House Heroes waive contingencies. We can do a single walkthrough, assess the property’s condition, and – if we agree on price – waive the contingencies.
Step #5: Strategic Pricing
Need to sell fast? Price lower than the available comps. Check out comparable neighborhood properties. Make sure to compare apples-to-apples. If your house needs $30,000 in repairs and 4-months work, price under comparable fixer-uppers to sell quick. If it’s in wonderful condition, price below the renovated properties. Undercutting available inventory isn’t only a matter of selling fast. If you price above the current going rate, your house will simply never sell if a buyer can get the same type of property for less.
Strategic pricing requires knowing your house. Look up property on the county appraiser. Review living area, lot size, year built, units. Consider the location and amenities like garage, pool. Take stock of “big ticket” repairs (roof, heating/cooling, electrical). Hop on a site like Zillow or get out Free Home Report demonstrating the latest neighborhood sales.
Thinking about selling a home fast? Give us a call (954) 676-1846 or fill out the form below!
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