Are you in a rush to sell your home? If you’ve had the same thought over and over again in your head, “I need to sell my house,” then you’ve come to the right place.
Even in today’s hot seller’s market, when houses may get offers in as little as 16 days, it can take up to two months to sell a property from the time it is listed to the time it is sold.
And it doesn’t include the weeks spent cleaning, painting, and tidying up the property before it goes on the market.
If you don’t have the patience to stick to this schedule, which includes the 49 days it takes for a conventional buyer’s mortgage to close, you’ll have to get creative with your plans. You do, however, have choices.
Read on for our full breakdown of how you can start selling your home faster.
Sell My House 101: Common Option of an All-Cash Offer
Let’s start with the basics.
There are two main steps that you’ll need to do so that you can get a quick all-cash offer.
1. Attract a Buyer With an Offer
Homes naturally sell quickly in a hot market. According to the National Association of Realtors, houses were on the market for an average of just 16 days in May 2021.
However, in a normal year, your days on market may be closer to 35-40 days. A home in poor condition will also take longer to sell than the average. A conventional buyer who intends to live in the house will want it to be move-in ready, and the property may need to satisfy specific criteria in order to pass an appraisal.
2. Wait for Your Lender to Close Your Buyer’s Mortgage
According to the National Association of Realtors, 87 percent of recent house purchasers financed their purchase in 2019.
Meanwhile, according to Ellie Mae statistics from April 2021, the typical purchase loan took 49 days to finalize. Even if you do no house prep and find a buyer in record time, you won’t be able to speed up the closing process as long as the lender is involved.
This is why “cash is king,” as the saying goes. Selling your home to a cash buyer efficiently removes both of these burdens, which would otherwise stifle your progress.
You may put your home on the market and hope for the best by finding a cash buyer. Working directly with a company that buys homes for cash, on the other hand, may remove a lot of the uncertainty from the process.
What Is the Process of Home Selling for Cash?
Typically, it goes like this: you forgo the song and dance of arranging your property to impress, and instead seek a cash offer.
There are no commissions to pay and no open houses to attend. The buyer you’re dealing with decides how much they’re prepared to spend after taking a short tour of the house or looking at pictures.
You consider their pricing and conditions before deciding whether or not to accept. Some cash purchasers may insist on an examination and will negotiate repairs with you.
Others will buy the item “as is.” You’ll need to factor in any difficulties, such as HOA rules, but you should be able to close in two weeks or less. We suggest reading our comprehensive guide on selling your home for cash for more information.
Alternative Option: Work With Top Agents for a Fast Sale
Maybe you need to sell quickly but don’t want to give up any of your home’s worth in the process. When it comes down to it, listings that are represented by agents sell for more money.
Homes sold with the help of an agent recently sold for 35% more (on average $295,000) than those sold by the owner (on average $217,900).
Homes advertised with agents sell for a median of 99 percent of their asking price, according to a survey. Despite the advantages of selling for cash, 89 percent of sellers prefer to hire a real estate agent to increase the value of their property.
If you want to deal with an agency, though, you must understand that the purchasers you attract aren’t always willing to pay cash.
In addition, you should select an agent that can and will do all in their ability to accomplish a fast sale. In this instance, sales expertise and a track record of success are crucial.
You can learn more from this article if you’re looking for different strategies to sell your home quickly.
The Data You Need From Your Agent
If you’re on a tight timeline, it’s understandable to be concerned about whether a real estate agent will be able to sell your property quickly enough. That is to say, any realtor will not suffice.
Partner with an agent that has a proven record of selling properties like yours fast to offer yourself the greatest chance of selling swiftly. You may do so by looking at market data days and their transaction histories.
Also, you must have prior experience in your field.
A realtor with hyperlocal knowledge will be able to more simply and honestly showcase the advantages you’ve grown to appreciate to prospective purchasers. They’ll also be better knowledgeable about the local real estate market and what kinds of improvements might help your home sell for more money.
Looking for a cluster of previous transactions near your house is the greatest method to determine whether an agent’s expertise matches your area.
Personal Preparations to Speed up the Sale
Even if your agent is an absolute legend, there are many things you can do as a seller to improve your chances of a quick sale:
First, you’ll want to declutter.
If you’re going to display your home in disarray, you may as well ask for a cash offer since you won’t receive the greatest price and the hoarding feelings won’t help you sell quickly.
Remove shoes, boxes, and piles of things off your flooring to create the appearance of space.
Next, it’s critical to invest in a cleaning service.
Even if you’re in a rush, don’t miss this step. If you don’t have time to wash the floors, vacuum, dust, or polish your surfaces, pay someone to do it for you.
How to Sell House: Simplified
“I want to sell my house as quickly as possible.” If that’s your intention, then we hope that our guide has shed some light on the process, and how you can speed it up.
And, if you liked reading our article, then you’ll love checking out our additional tips and tricks. All of them will be available in our real estate section.