Is your home up on the market? Is it about to be?
If so, you probably want to know how to sell your home fast so you can purchase your next home and move forward with your life. Before you list your home or hire a realtor, however, consider your options.
There are countless tricks for selling your home faster, however, it might not be fast enough. Your best option might be selling to a cash home buyer.
We’re here to tell you why this might be the best option. Keep reading for everything you need to know.
1. Avoid Paying Extra Fees
One of the biggest reasons why people decide to sell their home fast through a cash home buyer is to avoid all the extra fees. When people sell their homes traditionally, they typically use real estate agents. While real estate agents can prove to be effective and beneficial, they charge a 3% or more commission on the sale of your house.
Furthermore, the seller is often expected to pay for their realtor and the buyer’s realtor. That’s a minimum of 6% of your total earnings going into other hands. For reference, if you sold your house for $240,000, you would be paying $14,400 in realtor fees.
However, your costs don’t end there. You must also pay for a home inspection and a home appraisal. Each of these services can cost up to $600 or more.
Furthermore, if you want to sell your home as quickly as possible, you could hire a home stager. Staged homes sell up to 73% faster. However, the initial consultation can cost $600 plus an extra $500 for each room you have staged per month.
2. Avoid Making Costly Renovations
As note above, when you sell your home traditionally, you have to have it inspected. The inspection report could come back with multiple damages and other issues that could turn away potential buyers. Getting your house up to par for most homebuyers could cost you thousands of dollars.
Things like roof repairs and damages might be covered in your insurance policy, but not if it is a result of time and natural wear and tear. Other red flags include things like foundation issues, negative drainage, mold, water damage, and more. Even if a buyer is willing to accept these conditions, their lender might not be.
Learning how to sell your home fast means avoiding expensive repairs and updates. If you don’t have the time or money to spend on renovations, selling to a cash home buyer is one of the most creative ways to sell your home fast. Most cash home buyers purchase homes as-is.
3. Save Time
Selling your home traditionally, while yielding a better profit, takes much more time, the time you may not have.
For example, scheduling a home inspection and a home appraisal can take several weeks. If you decide to make renovations, it can take weeks to get a contractor out to your house to update your electrical, fix your roof, repair plumbing, remediate negative drainage, etc.
If you opt to make these repairs yourself, it will likely take you twice as long as it would for a professional to complete the project. Furthermore, the final results will need to be reevaluated by the inspector.
Finally, if you need to sell your home fast and you choose to sell it traditionally, your left at the whim of the real estate market. If you’re in a buyer’s market, your house could sit for months without getting a single offer. There are simply too many houses for sale and not enough buyers.
If selling your house quickly is your top priority, selling to a cash buyer is your best solution.
4. Skip the Stress
One of the best reasons to learn how to get your home to sell fast is to avoid the stress that comes with the process. The longer your house sits on the market, the longer you must wait to move on with your life. Purchasing your next home might hinge on the sale of your current home.
If that stress wasn’t heavy enough, you also have to make sure your home is always in pristine condition for home tours. If you still live in the house, this means continuously cleaning up after yourself, your kids, and your pets.
Additionally, you will need to deal with buyers putting in low offers and demanding the world. Once you get an acceptable offer, you must still go through several rounds of negotiations to find something you and the buyer will agree upon, which can be both stressful and irritating.
Finding a company that pays cash for houses allows you to skip all this stress. You can cut out all of the nonsense and sell your house in a matter of days, rather than months.
5. Solve a Complicated Issue
Sometimes, you need to sell your house fast because you’re dealing with something much more complicated and problematic. For example, if you’ve fallen behind on payments, the bank might be looking to foreclose on your home. This can throw you out on the street, leave you empty-handed, and destroy your credit for several years.
Alternatively, if you’re going through a divorce, selling your house fast to liquidate your assets might be the best thing. That way, you and your soon-to-be-ex won’t have to fight over who keeps the house or who’s responsible for making mortgage payments.
However, not all complicated issues are negative. For example, if you’ve inherited a home that you can’t afford to make payments on or have no use for, selling the property as soon as possible can put a lot of extra money in your pocket.
On the other hand, you may want to sell to a cash home buyer because you were offered a job out-of-town. If you’re in a rush to secure that position, you may not have time to stick around to sell your house. However, you also don’t want to be responsible for multiple mortgages.
6. Bypass Long, Unpredictable Closing Processes
Finally, choosing to sell your house fast to a cash home buyer helps you avoid the traditional closing/underwriting process. This process usually takes one to two months, during which, anything can happen.
Buyers have been known to back out of a sale for reasons unknown days before closing. They might accidentally disqualify themselves by taking out a loan, charging expenses to their credit card, or even accepting a new job. If these things were to happen, you would need to put your house back on the market and start over.
Do You Want to Sell Your Home Fast?
There are tons of creative ways to sell your home fast. Everything you do to make the home more attractive and valuable will help you find buyers. However, the fastest and most certain way to sell a home is through a cash home buyer. They will give you an offer in a couple of days and can close in as little as a week.
And if you’re looking for more homeownership advice, including more tips on how to sell your house, check out some of our other articles before you go. Our blog was created to help people like you make informed decisions to improve their lives.