How do you sell your house fast?
If you really need to sell a home or condo quickly, what is the best way to do that? Where do you start? How do you make sure it gets sold on time?
What’s Most Important?
In order to stay on track to selling a house fast, choosing the right way to sell, and getting what you need most out of the transaction it really helps to outline your priorities. Literally take a sheet of paper and write them down. You can always use your smartphone too.
Separate your ‘must-haves’ from your ‘nice to haves’. List them in order of priority.
This might look something like this:
- Must have my home sold in 2 weeks, by X date
- Avoid foreclosure or more financial penalties
- Have $3,000 in order to move into a new apartment
- Sell my house with the least amount of hassle
- Be able to take our custom front door with us
Know Your Home Selling Options
The 3 main choices for selling a property are:
- List with a Realtor
- Use yard signs and newspaper ads to sell by owner
- Sell to a cash buyer
Now measure up your options to the top items on your must have list. For example; if you must sell within 30, 60, or 90 days, listing with a real estate agent probably isn’t an option. Their agreements are normally to initially list a property for 6 to 12 months. Often those listings have to be renewed. They offer no guarantees of an actual sale.
Going to buy a yard sign, and running an ad in the newspaper might be an option. But again, take a look around and see how fast those properties are selling. Are there any for sale signs in your neighborhood or local area which have been up for a few months already? Some houses are selling fast. Some are still taking years to sell. Do you, or can you afford to launch your own marketing campaign, stick with it, and spruce up your property to compete with new houses and condos being built in your city?
Or is it better just to secure a for sure sale to a qualified cash buyer that will purchase your house as-is, and close in a few days?
Which checks the most boxes on your list? Which checks the most important items on your list?
Get Quotes, Do the Math
How will your different options change the real math?
For example; fixing up your home and paying for marketing materials is going to take away from any money you could get from a sale. How much less will that mean for you?
If you will list your property with an agent you have to deduct somewhere between 3% to 10% of the sales price to pay in Realtor commission. Then there is the time factor. Even if a Realtor finds you a buyer tomorrow, the chances are that it will take 1 to 3 months to close. That’s if the buyer’s mortgage doesn’t fall apart during the process. So that may be at least an extra 3 months of property taxes, insurance, interest, etc. It could also mean more fines and fees or foreclosure if you are in some form of default.
None of these costs applies to selling instantly to a cash buyer.
To get a better idea of what you’ll pocket a local title company can normally provide an estimated closing statement or net sheet which shows the bottom line.
Once you know which is the best way to go, get going. Don’t procrastinate. Each day means a lot more money down the drain…