Selling a property requires one to consider a lot of parameters. And when you are in a hurry to dispose of your house, you may miss out on some of the vital factors. Even when the real estate market is booming, the sale of a ready house may take an average of 2 months to come through. You may have various reasons to want to go through this quickly – such as relocation to another place, run-down old property, foreclosure, jointly-owned property after divorce, or inheritance you don’t want to keep. In any of these cases, the query that you have in your mind is – how to sell my house fast. There are a few points that help you do this quickly. If you plan and execute these steps carefully, you can finish your deal within the timeline.
Knowing Buyer’s and Seller’s Markets
The purchase of real estate goes through either of these two markets – the buyer’s market and the seller’s market. A buyer’s market is the time when a lot of property is out for sale and the prices are low. This is a good time to purchase but not the ideal time to sell. The seller’s market sees high demand with a low supply of properties. This is the right time for you to sell your property with less hassle of preparation and at better rates. Most importantly, a seller’s market helps you close your deal faster. Look at the popular real estate platforms to know if your locality falls in the seller’s market.
Steps to Sell a House Fast
When your main focus is to sell a house fast, you would either be prepared to compromise and make a quick exit or take the help of the field experts. You have to prepare your house to make it appealing to the buyers too. Keeping a tab on the market realities is an assignment you must start with. Platforms such as Houzeo or HomeLight bring you relevant information on prices, availability, and options for sale. Let us consider the steps carefully.
1. Consider Selling for Cash
According to the National Association of Realtors, almost 87% of homes were self-financed by buyers in 2019. Since you have limited time in hand, you may think I want to sell my house fast for cash to speed up the sale by attracting a buyer who is ready to pay in cash. This could either be individuals who have ready money to give against the property or house-buying companies that aim at flipping or renting the houses. Some well-known house-buying companies are Houzeo, WeBuyUglyHouses, Offerpad, and Opendoor.com. In some cases, selling for cash may fetch you a lesser price than what you expect.
2. Consider Reaching out to a Real Estate Agent
If you are ready to forego the sale-for-cash offer, a real estate agent can guide you towards a higher sale price. Since you aim to sell the house fast, look for an agent who can help with a speedy transaction. Your agent should be able to have a low ‘Days on Market’ which shows that they have the right pricing and marketing strategies. A local estate agent will be able to guide you on the upgrades needed in the house based on their experience of previous sale history.
3. Clean, Declutter and Go for Home-Staging
Hire cleaning services to present a spick-and-span home to the potential buyer. Add to the appeal of the home by ruthlessly removing clutter. Tidy up the home and relocate furniture to give an impression of space. Whatever doesn’t fit with the look of the house, needs to go now. Dusting, mopping, and sparkling the fixtures and countertops may get tiring. It may be wise to get paid service from professional home cleaners. Your agent may help you with home staging which involves bringing in furniture and décor to highlight the best features of your home.
4. Take Care of Repairs and Curb Appeal
While you are at it, take care of any quick repairs that your house might need. Pay special attention to areas that are damaged badly as well as the quickly noticeable issues. Leaky faucets and loose doorknobs and tiles spoil the charm of a house as do carpet stains and scratched wall paint. Take a look at the entrance to your home – the driveway, porch, and front door. Mow the lawn and manicure the shrubs and bushes. Work on the fixtures, mailboxes, and windows. A well-taken-care-of house is inviting to potential buyers.
5. Price your House Wisely
Often an over-priced house has to reduce its pricing to get sold. Since you are looking for a quick sale, plan your price judiciously. If your house is priced slightly lower than the usual market rate in your locality, you may land a buyer fast. Your agent may help with smart pricing as they know the market. If you are planning to go with companies that buy houses as-is, you may lose out on the fair price. You stand a better chance of staying close to the fair market value with iBuyers like Houzeo, Offerpad, Opendoor, and RedfinNow.
How to Market Smartly ?
Let’s say, you have taken care of the steps mentioned above to sell your house fast. Yet, you may need to give it a further push. Invest in a professional photographer after you have redone the house. Let your agents have a copy or if you are going independently, put the photographs up on the internet or website or the platform you are using. You can even shoot a 3D tour of your house for buyers who cannot come for a physical survey.
Just thinking ‘I want to sell my house fast, won’t help. You need to change some methods of working to achieve it. Offer incentives such as golf club membership paid dues of homeowners’ association, or a one-year free subscription of internet connection if you can. Remain flexible with the timings for showing around. Often, buyers visit properties one after another and may not always give you enough prior time. You may even consider the one-day home selling. You will have multiple buyers visiting your house in one day and quoting their bids. At the end of the day, it is your decision to choose the highest bidder for the fastest sale.