Did you know that US home sales are forecast to hit $2.5 trillion in 2021? The market is booming, and there has never been a better time to sell. But how can you make your sale as quick as possible?
Luckily, you have a number of options. Read on as we discuss 7 must-know ways to sell your house fast.
1. Know the Value
If you are trying to sell your house quickly, it is quite possible you will get lower offers than its market value. You need to sell fast, so you need to decide if the lesser profit is worth the quick payoff. However, knowing how close to the mark your home offer is, means knowing its true value.
This is done through comparative analysis. Do some research into similar-sized houses in the local area. Look at their listing prices and see how much they are going on the market for, or ask around to see what others have sold for.
This research can be done using different websites. If you have a real estate agent, they will do this for you. From here, you can gauge the value of your current property and adjust it accordingly.
2. Consider a Real Estate Agent
There are a number of benefits and only one main downside to using a real estate agent. That is that they will take a commission, which is around 6% of the sale. If you take a lower offer for a quick house sale, combined with the agent fee, it can be a sizeable loss.
However, many of the benefits outweigh this. Estate agents have access to marketing services and materials you don’t. They also have a direct line to a number of buyers and other agents.
They can also guide you through many of the pitfalls and legalities of a house sale. If you are selling for cash, you need to stay safe and ensure you don’t fall into a scam, which agents can keep you away from.
3. Speak to a Cash for Homes Company
If you don’t want to pay the real estate agent commission, another option is to contact a cash for homes company. They will arrange an appointment to view your property and do a quick examination before making an offer. Sometimes, they will even give offers over the phone.
The aim of this type of company is to buy houses at a low cost then quickly renovate and sell them. This means they want to work as quickly as possible. They could give you an offer on the spot or within a few days.
After this, the selling process will also be extremely quick. Without anyone waiting for lender approval, there is also less chance of the sale falling through. You could have the sale done in around three weeks.
4. Decide If You Are Selling ‘As Is’
‘As Is’ means selling your home as it stands. You do not do any repairs or renovations. People buy it in its current state.
One benefit of selling a house this way is that it involves a lot less work for you. This also translates to less money spent, as you don’t need to spend on fixing the home and hiring tradesmen to do it.
The downside is that you will make less money in the final sale, as people will offer lower amounts. There are many buyers who prefer this method, however, as they can do the home up and sell it for a profit. These sales often attract cash buyers.
5. Fix It Up
If you are not selling as is, then you need to get to work. Start by setting a maximum budget for your renovations. You may want to schedule a home inspection so you know of any major problems before people start to view the house.
If you have a real estate agent, they will be able to give you guidance on which issues to address for a maximum return on investment. However, there are a few universal hints that can help you out.
Repaint the home in neutral colors. Change the flooring or carpets. If you have the money, replace all appliances and fixtures.
Finally, get the outside of the home looking good as well. Declutter the yard and do some gardening or landscaping.
6. Spread the Word
When selling your home with an agent or on your own, it helps to spread the word. Nowhere is better than on social media. By sharing posts of your property you open up potential sales to a much wider audience, even more, if others share the post as well.
There will be local homes sales groups and listings you can post in. Make sure you have some great pictures of the property to place online.
7. Consider an Auction
An auction is one of the riskier ways to sell, but it could also have the biggest payoff. Auction sales are extremely quick ways to sell your home. They are also not just for bank foreclosures.
The risk is that you may also get less than you expect. You do state the minimum amount that you will accept, and the auction house will take a percentage from this sale.
However, you could also find some buyers who bid against each other. This can push the price higher than you may have expected.
Sell Your House Fast
In summary, you have a number of options to sell your house fast. In a booming market, you would be unlucky to struggle to find buyers. Do your calculations, work out the offers you are willing to accept and get selling.
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