If you want to sell your home fast, for whatever reason, then you need some professional tips, or you will not succeed. It mostly depends on your situation, the amount of equity you need from your house and even how flexible you are in regards to the terms of sale.
Here are some of the ways I would use to sell my house fast, regardless of the market.
1. Sell To An Investor
Sell my house fast companies, which are usually owned by real estate investors is probably the best way to go if you want a quick cash sale with less hassle.
The advantage of using this method to sell your house is that you will get cold, hard cash, usually under a month regardless of the condition of the house in question.
This is more often than not a great deal if your home needs a lot of renovation work and you don’t have the time or the money to fix the property yourself.
It is ideally a good method if you require the cash immediately to cover some emergency such as medical bills, the death of a loved one, etc.
The downside of using this method is that you require equity, a lot of it in fact. Most real estate investments usually offer 50 to 65% of the market value minus the renovations and repairs.
That implies that if your house is valued at $150K and the repairs need an estimated $30K, the most you can expect from the investor is only $60 to $70K.
Now, you obviously need to have a mortgage balance less than that amount or otherwise you will have to cover the rest on your own at closing.
2. Listing With a Realtor
The next method to sell your house relatively quick is by using a real estate agent. However, you will need to price the home at a small price below to what other similar listings are asking for. This allows potential buyers to instantly consider buying your house first.
The benefits of using this method are that you’ll get a buyer pretty quickly since your property listing will be the lowest in the bunch. Ideally, the potential buyer will have an easier time getting a loan to close as the appraisal will generally show it being worth and the money lender will be more comfortable offering a loan on an undervalued property.
However, this method is not without its downsides as well. First, selling at a lower price through an agent means you will get less than what your home is worth. Ideally, you will have to consider the cost of selling. If you include the closing costs, the seller’s commission, and other fees, you will be looking at an approximate 12% setback.
That means you will approximately get about 78% of the fair market value of your home. Of course, this method is a fair way to sell your house fast, especially if you have the equity to cover the discount.
Otherwise, you would require bringing additional money to the closing table to get the house to sell.
These are the primary methods that I would use to sell my house fast. They are not the best in giving you what your home is worth, but if you need to sell fast, that’s the way to go.