There are so many reasons why you may be thinking about selling your home fast. Of course, the key reason why many aim to sell a home fast is money. It’s all too easy for a financial crisis, particularly in a post-pandemic world, to push a homeowner towards selling before their homes are foreclosed upon. You may not feel as if your home is at risk of being foreclosed upon, simply because you’re not familiar with the foreclosure process and its realities. Many feel as if they’re always a step away from foreclosure but manage to evade it. Trust us: 2018 saw about 10% of all American mortgage holders believing that they would likely face foreclosure. It’s more likely to happen than you might think. Taking all of that into consideration, you may also simply want to sell a home fast because you need the money from the sale for another project, or even for emotional reasons. Nobody wants to hang on to a house that holds bad memories just because their house isn’t selling quickly enough. With that being said, let’s look into some of the things you can do to sell your home fast, whether you’ve just started to think about selling it or you’ve had it on the traditional market for a while.
1. Consider Cash Offers
Anyone who’s tried selling a home fast on the traditional market knows that there are a number of issues that can occur even after you find an interested buyer. You can’t simply shake hands and agree to the sale. The buyer needs to secure a mortgage if they are buying a house in the traditional manner, and there are a lot of hoops for them to jump through after that. These hoops would include, of course, being approved for a home loan. Home loans are harder to get than they once were. After the 2008 financial crisis, financial institutions were forced to scrutinize those to whom they were lending more carefully, and it’s easy to understand why when you consider how much money those financial institutions lost on buyers who simply couldn’t pay. So, you could find a buyer when you’re trying to sell a home fast, but that buyer will take time to secure a home loan and may not at all. Those that offer cash for homes in full payments already have all the money that they need right now. As long as they want to buy your house, they will not fall through. This means that you don’t need to wait for the money to be secured, so that’s one step taken care of.
2. Sell Your Home As Is
Typically, homes sold in traditional mortgage sales are not sold as is. A home that is sold as is doesn’t have repairs done before it is sold; as the name suggests, it is sold as is. Quite often, an agreement to make repairs is made by the seller during closing. This means that you will not only need to invest more into your home before selling it, but also take the time to handle those repairs before the sale is over. This is not exactly conducive to selling a house fast. So, why don’t more people sell their homes as is? Well, because the buyer will be making those repairs themselves, the seller will probably need to accept a lower price for the home. But keep in mind that you would have put more money into the house in order to make repairs, so it really all evens out in the end.
3. Sell Your House For Sale By Owner
Who is the most motivated to sell a home fast? You, of course. Therefore, if you’ve had your house on the market under a traditional real estate agent for a while and are dissatisfied with how it’s moving or their performance in general, you may want to cut ties with that agent and sell your house yourself. Selling your house for sale by owner takes some work, but it’s a great way to sell your house fast and get it done.
If you’re motivated to make the sale, you can push it forward. Just think outside the box!