I Need to Sell My House Fast! What Do I Do?
How to Sell Your House Fast
Are you asking “how do I sell my house fast”? There are many options to ensure you can sell your home as fast as possible in any market. Basically it boils down to price, condition, market, and location.
You’ll be able to sell any house fast if you recognize what it takes to sell quickly.
- List with a real estate agent.
- If your house is in great condition, you can probably sell it quick using an experienced real estate agent. Don’t hire your cousin – most agents charge the same 3%, so hire they very best one in your market!
- This is a good option if your house looks amazing and you’re willing to discount it slightly to ensure a fast sale (and pay the realtor commissions).
- Sell to a cash buyer.
- If you house needs significant repairs or updating, and you can’t afford or don’t want to take care of it before selling, a “cash buyer” or real estate investor will get your home sold quick.
- Be sure you work with a reputable company – never call those “we buy houses” signs on the side of the road – most are scams or inexperienced investors.
- This is a good option if your house needs a lot of repair or updating, you have a good amount of equity in your home, and you don’t want to do it before you sell.
- Sell to an iBuyer.
- Relatively new on the scene, iBuyers such as Opendoor, Offerpad, Zillow, and dozens more, will make an offer to buy your house and close quick if you accept.
- Beware – the offer price isn’t what you actually get. There are a lot of fees involved, and your house will need to be in decent shape for them to buy it.
- This is a good option if you need to sell fast, are willing to discount the final sales price, but your home doesn’t need a lot of repair or updating.
- Perform a Short Sale
- If you are behind in your payments and in financial difficulty, your mortgage company will often accept a “short sale” where they discount the amount due on the loan so the house can be sold.
- You’ll need a real estate agent and/or investors who is experienced with short sales to help you through the process.
- This is a good option if you are facing foreclosure and are underwater on your loan.
- For Sale By Owner
- This is not a great option if you want to sell your house fast.
- Many people that do a “FSBO” are trying to save the 6% real estate commission, and end up losing more than that in time, expense, and lower sales price.
- If you go this route, be sure and get the home listed in the Multiple Listing Service (MLS) – you can do this for a low flat-fee and that’s where most home buyers are going to look.
- This is a good option if you have a lot of real estate and marketing experience – and feel comfortable negotiating contracts.
- Sell via an Auction
- If you really want to sell your house fast and can live with the outcome, an auction might be good for you.
- Generally auction companies will promote your house to their group of buyers, and then take bids. The highest bidder will purchase your house – and pay some hefty fees to the auction house.
- Find a Home Seller Concierge
- A new type of company acts as a concierge to help understand your situation and guide you to the best possible solution.
- These companies usually work with the top Real Estate Brokers, Agents, Investors, and iBuyers in every city so you don’t have to do all the research.
- The service is free to the home seller and concierge companies are typically compensated by the broker/investor/ibuyer for making a good introduction.
Regardless of the option you choose, be sure and educate yourself on the pros and cons of each method. How much time are you really willing to spend working to sell your house? How do you value the trade-off between speed of sale and sale price? Do you have a lot of repairs that need to be done?
In all cases – work with professionals that understand the market, know what they are doing, and have a track record of success.
Never respond to low-budget “we buy houses sign” marketing on telephone poles or the side of the road, and be wary of places like Craigslist or other free advertising mediums. They are often used by novices and scammers.
Reputable real estate agents, brokers, and investors are easy to find and have highly professional marketing. They can provide many references and are happy to share past client testimonials.