You've decided it's time to sell your house. Now you need to move quickly to close your home sale. With so many future uncertainties, all you can do is work with the current set of information and options available to you. We've got you covered.
The best way to expedite the home-selling process is to identify and preempt the biggest time killers that plague a traditional sale. Here are the biggest bottlenecks in the home sale process and how you can sidestep them to sell fast.
Everyone Checks the Price Tag -- You Should Too
No matter what anyone claims, all potential buyers look at the price tag of the item they're surveying. In fact, usually it's the first thing folks notice. Think about it; setting a budget and filtering product results pages by price is the predominant pattern of consumer purchasing behavior. It's just human nature -- and home buyers are no different.
So it's critical that you set your asking price properly on your first attempt. Pricing it too high (a common mistake for many owners) will result in your home sitting stagnant on the market for months. And worse, when you finally reduce the offer price to help sell quickly -- prospective buyers (and their real estate agents) will be extremely wary of your time on the market and be less interested in your property. First impressions truly matter.
Obviously, pricing your house way too low will generate a near instant offer, if not multiple interested buyers, but you'll immediately realize you've severely undercut your home value. Once your begin rejecting these offers to try to hold out for more money, this pool of prospective buyers will look elsewhere and you've potentially burned your bridges with some of your best leads.
The idea then as that you must intimately follow the current market surrounding your property address. Monitor comparable home sales to understand exactly how much your home is worth and what price would lead to a quick sale. When selling fast is the goal, then you'll want to list it at (or slightly below) its fair market value. The easiest and fastest way to make your home standout from other homes in the same tier of quality is with the right price. It's simply an extremely noticeable facet of your listing that allows your to distinguish your home -- you don't need hope that home buyers are enticed by curb appeal or professional photography. You don't even need to host an open house to show off savings. A competitive price will always attract buyers, and quickly!
Cash over Contingencies
Finding a home buyer rightly takes a lot of focus, but too often everything that comes after that is overlooked. Just because you found someone found someone who wants to buy your house doesn't mean you found someone who can buy your house quickly. You need a buyer who isn't going to trip over a stumbling block when it comes to the closing process.
You need to be extremely specific in finding a buyer that they are going to buy your home as is, with zero contingencies. First and foremost, you should only consider an all cash offer. You don't want to wait for a mortgage lender to approve financing and all that entails -- time, is the biggest resource drained. A cash buyer is an integral ingredient to a successful formula to sell your house fast.
Other contingencies can eat precious time off your ticking clock too. Waiting on a home inspection or appraisal takes time (and could add to closing costs). Even worse is a home sale contingency; meaning, you're waiting for the buyer to sell their existing home in order to complete your sale. When that happens, you're relying on someone else having their house ready for a fast closing -- who knows, they may think keeping their home on the market longer will yield them a more competitive cash offer and ultimately help save money.
Insist on an all cash sale, zero contingencies, and you'll be on your way to a speedy and hassle free sale.
A Top Real Estate Agent Is Like a Cheat Code
The real estate market is extremely nuanced; it takes time to learn how it operates, it takes time to master it, and it takes time to turn this insight into successful transactions. An experienced real estate agent is worth their weight in gold if you want to sell your house fast. You can't afford to waste any time with the learning curve behind real estate; you want to hire someone with a proven track record of getting home sold quickly.
Some folks believe an FSBO (For Sale By Owner) sale might give them an opportunity to expedite their selling process but it couldn't be further from the truth. Navigating all the pitfalls -- the one ones we haven't even mentioned -- that can add up to a lengthy process is where real estate agents earn their fees. Helping you price your property, listing your home on the MLS with professional photos, hosting open houses, finding cash buyers,and ultimately fastracking your home sale is well worth the agent commission.
A top agent is a massive benefit to sell your house fast, but only if you know how to quickly find one. That's why we built TrueParity's innovative platform. We've already identified the best real estate agents in your neighborhood and they're ready to detail their strategies to sell your house fast. It's the best of the traditional way combined with modern technology. Post your home for free and find the perfect real estate agent for you.
Summary
If you need to sell your house fast, you must avoid the biggest sinkholes of a rapid home sale. Make sure you absolutely price your home correctly to attract potential buyers; too high of an asking price and your home will never sell fast, too low and house flippers will flock to your property. Only consider offers from cash home buyers, so you can avoid any financing quagmires. In addition to cash offers, insist on selling without any contingencies if you're positioned to do so. Most importantly, unless you are a seasoned real estate professional yourself, then you ought to enlist a top real estate agent to help your sell your house. Experienced agents are invaluable to getting your home sold for the soonest closing date.
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