Are you looking to move on from a house quick?
There are plenty of reasons owners look to sell fast. You may have inherited a probate house you don't live in. The property may need repairs with city code violations. Foreclosure auctions are looming due to late mortgage payments. Perhaps you are a tired landlord ready to cash out your investment property.
Whatever the reason you need to sell, here are three ways to get a home sale accomplished on the double!
Price Below Market Value
Home sellers often make the mistake of setting a high sale price. Of course, everyone wants as much sale proceeds as possible. However, over pricing your house has a good likelihood of slowing down your house sale for a few reasons.
Better Deals On The Market.
All else being equal, there is no reason to make an offer on a house if a similar house is readily available at a better price. If you price higher than equivalent alternatives, you won't just have a slow sale. You won't sell at all.
Price Range Selection.
Buyers look to purchase property in certain price ranges (even tell their buyer agents or set their online filters to this price range). Pricing your house too high means that buyers in lower price ranges will never even see your sale.
Buyers Don't Want To Waste Time.
Pricing your house too high suggests you aren't a serious seller (you're just looking for a sweetheart deal). Buyers and their agents are busy people. If your house is overpriced, they aren't going to waste time making an offer 20% below list price (even if 20% below list price is just market value).
Mortgage Qualification Issues.
Even if you and a buyer agree on price, that doesn't mean mortgage lenders will. Before any sale, banks hire professional appraisers to assess the house. If the house appraises substantially lower than the agreed price - banks won’t lend.
Buyers can't purchase house if they don't know about the sale. If you want to sell lightning fast, it's a good idea to get as many eyes on the property as possible.
In today's real estate market, there are plenty of ways to get the word out. Although there are lots of new ways utilizing websites, some traditional ways still work.
The most "sure-fire" way to publicize a sale is to list on the local "Multiple Listing Service" (MLS). The MLS feeds into Zillow, Redfin, and Realtor - so people watching those sites get notified. Buyer agents also get up immediate updates on MLS listings. There's two ways to get an MLS listing. You could list with a real estate agent in exchange for commission (typically about 6% in most markets). Alternatively, you could pay several hundred dollars to set up a "flat fee listing" to get on the MLS. Flat fee listings mean you save commission but do all the selling work.
Other great ways to publicize your sale include listing your house on for sale by owner websites like Craig's List or For Sale By Owner, putting up a "for sale" yard sign, and spreading word of mouth to friends, family and neighbors.
Connect With a Local Professional Cash Buyer
Connecting with a local professional cash buyers one method of selling as fast possible. Real estate investment companies exist in each market that specialize in quick house sales. Since cash buyers purchase "as-is" and don't rely on mortgages, they close exceptionally fast. Other advantages of working with a cash buyer include saving on real estate agent commission, not worrying about repairs, and trusting they can close no matter the type of property since acquiring real estate is their profession.
How can you find a local real estate investment company? For example, if you're looking to sell a Florida house, you could search online for a buyer. Consider reaching out to nearby professional inspectors, agents, real estate attorneys, or appraisers - they know local cash buyer players. Watch your mailbox for postcards and letters - this is a common way cash buyers seek out home sellers.