There are many reasons to want to sell a house quicker than it normally takes, but it isn’t always easy to find a way to do this. Standard selling times can be up to 70 days when you include both the marketing time and the process for closing the sale.
For many, this time frame isn’t practical. When faced with debts or foreclosure, a sale sometimes needs to be made as fast as possible. What tips are available for making this happen? What can you do that is practical for speeding up a house sale?
What tips are there for selling a home quickly?
Anyone involved in a house sale would like the process to be faster. Occasionally though, there is a seriously pressing need for a much faster-selling process.
For example, perhaps you inherited a property that you do not want or need. Maybe you are unable to afford the repairs it requires. It could also be that it is time to sell the family home due to divorce or separation.
Whatever the reasons may be, these are the times when it is imperative to sell quickly. Below are some tips for speeding up a sale.
- Sell at the right time
- Set the price competitively
- Declutter the home
- Carry out a seller’s inspection
- Be honest about any problems
- Make necessary repairs
- Improve your curb appeal
- Stage your home
- Use a professional photographer
- Find a cash buyer (What Is a Cash Buyer in Property?)
- Have the bill of sale ready to be signed
All of these tips can help to sell a home quicker through a realtor or other selling method. Unfortunately, they won’t always be necessarily practical, and you can see why below.
Sell at the right time
This is vital for a quicker house sale. But, f you need to sell your property swiftly you won’t be able to wait for the best periods in the housing market.
Brampton realtors will know when to time the market right as they have the best inside knowledge to the market conditions.
Carry out a seller’s inspection and fix any problems
It is a good idea to carry out repairs as these will show up on the buyer’s inspection and may be spotted during any viewings. There are disclosure obligations in Texas, and not being honest could bring a sale to a grinding halt.
Staging, professional photography, and improving curb appeal
Enhancing the curb appeal may mean carrying out work that will cost money. Staging and using a photographer will also mean paying out extra cash.
If you are looking for a quick sale due to financial distress, this may not be practical or even possible.
Using a cash buyer
By far the quickest way to sell a home today is by using a cash buyer, like https://webuyhousesinatlanta.
What does a property cash buyer look like?
A cash buyer can simply mean receiving an offer from an individual who is in a position to purchase your home outright with no need to arrange finance. These buyers may approach your realtor and place an offer on your home.
Alternatively, it could mean a type of property investor specializing in buying homes in their area for cash. These are normally businesses, not individuals.
These investors are generally known as cash for homes buyers and tend to operate in specific areas where they understand the housing market. For instance, visiting this website would take you to a Texas-based property investor.
What are the advantages of locating cash for property firms?
There are upsides and downsides to these types of house sales. First, you can see what the pros are before some of the disadvantages further down.
Lack of red tape
The process used by these types of investors is somewhat streamlined. There are no negotiations to be concerned about, no viewings, no marketing period, no chain, and no inspections needed.
No legal or closing costs
Typically a cash for homes buyer will cover all the closing costs and other fees. This can be enticing as typical closing costs will be between 6% to 10% of the sale price.
You will receive an offer quickly
Once you contact one of these property investors and give them the necessary details, you will often receive an offer within 24 hours.
No repairs or renovations are needed
If you have inherited a rundown property, you may be concerned about the costs of making it ready for sale. A cash buyer means you don’t need to worry about how to sell a distressed home. Repairs and renovations are normally unnecessary.
You will receive the proceeds faster
If you agree to the investor’s offer, you might have the proceeds wired to you within two weeks. No realtor can match these selling and closing times.
The cons of selling a property to a cash for homes buyer
Yet, there are downsides to this way of selling, and below you can see what these are.
You won’t obtain the market valuation
The biggest concern with selling this way is that you won’t reach the potential value of your property. These investors quite rightly want to see a profit on their outlay. Their offer will reflect this.
Going through a realtor can mean you have more than one buyer interested in your home which can lead to a bidding war. But this won’t happen if you offer your property to cash for homebuyers. Even if you ask for offers from several buyers there will be no negotiations or competing bids to be had.
You will be given one offer only
One of the reasons that there is no competition or negotiation is that these types of buyers typically only make one offer. You will receive a cash offer quickly but it is a one-off deal. You either accept it, or you don’t.
Selling a home fast can happen by making some renovations, decluttering, and staging can help too. These can only speed up the process so much though.
A cash buyer can come in, make an offer, and complete all the paperwork necessarily within a matter of a couple of weeks in many instances.
Whether this is a suitable route for you will depend on the upsides outweighing the downsides. A realtor will almost definitely get a higher sale price, but it could take months to get there.