A good look at the housing market can make you cringe. If you are a buyer, it’s even worse as it’s believed that we are still in the midst of a seller’s market. But it doesn’t mean sellers like you are guaranteed a free ride in this inflation-challenged housing market.
Of course, even with the presence of a market that favors sellers, you may sweat to sell your home fast. To ensure you don’t, you’ll need to adopt an approach that can give you the edge in the current troubled housing market.
Here are three common ways to sell your home fast.
1. First option: Request an all-cash offer
It's common practice to pay for a home with a mortgage. However, if you are eager to sell your home fast, you'll need to consider cash offers for the house because listing a home is quite slow, and many factors may hinder the process. These factors include:
The time required to get an offer
Homes aren't sold like garage sale items. It takes an average of 55-70 days to sell a home in the U.S. Of course; you expect a much longer timeframe for homes in rough conditions.
With cash, you don't have to wait for 55-70 days to sell your home. Instead, you can ask for an offline offer and receive feedback in 24-48 hours. Some buyers may make an offer that may change after assessing the home, while others will make one offer on the spot.
Will the buyer pay cash or be prequalified for a home loan?
Based on data from 2021, 87% of recent buyers financed their home purchases. But, even if you spruce up your home and stage it appropriately, a seller doesn't have control over when a buyer’s loan will close. Expect this step to take more than a month before you receive your money.
However, if you decide to sell your home for cash, the process is fast and smooth. The house buying company— who makes cash offers for house—pays you the full amount in cash without involving a lender. It’s a win-win situation for you and the company.
How do you sell for cash?
Here is a summary of how selling for cash works.
● Make a contact
● Receive a preliminary offer
● Have your home inspected
● Get a strong offer
● Closing starts
● Payment is made
Easy process, right? Of course, that is what you get when you sell for cash!
2. Second option: Sell your home fast with the help of a professional real estate agent.
Another way to sell your home fast is by leveraging the services of someone who knows the nitty-gritty of the housing market and can ensure that you get the best value for your home.
They call these professionals real estate agents.
Real estate agents understand the current market well. They can help in negotiation and paperwork, and, best of all, can help ensure that your home is sold at the right price.
Unfortunately, not all realtors boast of the skills required to sell a home fast, so ensure you go for one that is qualified and has a proven track record of selling homes quickly.
Here are five crucial factors to consider when selecting real estate agents:
● Strong market knowledge
● Good knowledge of the neighborhood
● Good reviews
● Have the right credentials for your needs
● Have your time
3. Third option: Sell your home yourself
As scary as this may seem, selling your home fast is possible. However, to do so, you need to adopt the right approach.
You see, only 7% of sellers sell their homes themselves, and just a few end up selling their homes fast. To ensure you are part of this bandwagon, you'll need to market your home properly.
You can consider listing it on Zillow or an FSBO-focused site. You'll also need to do some work like cleaning, decluttering, and personalizing.
Afterward, turn your focus to your curb appeal while ensuring that you make all necessary repairs.
Selling your home is easy, but selling it fast—at an acceptable price is the hardest part. While the three options provided above are effective in fast-tracking the sale of your home, selling your house for cash remains the easiest way to fast-track the sale of your home.