If you’re considering selling your home, you’re probably wondering how you can do so quickly so that you can take advantage of the increased market value.
We’re here to help!
There are at least 6 different ways to sell your home quickly. Keep reading to learn what they are and how to succeed with a quick house sale.
1. Through a Realtor
Homeowners have the option to sell their home through a real estate agent or by themselves. There are many pros and cons to consider when selling with a realtor.
To start, realtors are experts in the field. They will be able to assess your home and help you choose an accurate price to list.
Real estate agents also have free access to the Multiple Listing System (AKA MLS), which will list your home on dozens of different listing sites and networks. This means quicker and wider exposure of your ad.
Plus, realtors create the ads and take care of all the paperwork, too. You don’t have to worry about marketing at all.
A real estate agent will also be there to answer any questions or concerns and provide advice each step of the way.
Lastly, an expert will negotiate for you so that you get the best price for your home possible.
The cons of selling your home through a realtor include the fact that you have to pay the agent a commission which comes out of your profit. You will also have to pay for closing costs.
In the end, you can expect to pay about 11% of your profit to the real estate company.
The process can also take longer when going through an agent. They will decide on the appraisal company and require specific inspections and time between the offer and the closing date. This means you will have to wait and keep paying for your home for around 45 days before it’s off your hands.
2. Private Treaty
Private treaty is the standard method of selling a home. A set price is listed but is open to negotiation. An interested buyer will submit an offer to your agent who then presents the offer to you. The real estate agent handles the negotiations between you and the interested buyer and will provide advice on whether to accept.
Private treaty selling/buying is popular for a quick house sale because the set price allows for a specific market. It also provides time for the buyer to conduct the inspections and investigations, which will protect the seller from any suits after the house is bought.
The main downside to private treaties is the fact that it can take a while to find a buyer after the home is listed.
An auction is used when you want a super quick house sale. It usually occurs 30 days after the home is listed for sale and usually leads to an above-offer sale. This is because the auction causes a sense of urgency where many people submit bids until the highest offer is made.
Your real estate agent can help you decide whether an auction is for you. The best thing about auctions is that the highest bidder buys the house that day. No time wasted on inspections and appraisals. The buyer has to agree to take the house as-is.
4. For Sale by Owner
If you’re looking to save more on your profit and feel you can handle the sale, paperwork, and negotiating on your own, then selling your house yourself (for sale by owner) is a great option.
The pros are that you are completely in control and can make decisions on your own behalf. You won’t have to pay real estate commissions which will save you thousands of dollars.
The cons are that it’s stressful, complex, and can be difficult to know if you’re listing the right price, negotiating fairly, or breaking any rules. It is hard not to get emotionally invested in the sale since it is your home that you are selling.
5. Expression of Interest
An option for self-selling is the expression of interest sale method. An expression of interest (AKA EOI or sometimes called tender campaign) allows buyers to submit an offer by a specified deadline to the seller.
This method really creates a sense of urgency because if the buyer doesn’t submit an offer by the deadline, they’re out of luck.
EOIs are especially popular for unique or expensive properties. They are also more private as the asking price is not published and the accepted price will also remain undisclosed.
6. Sell to an Investor
The last option for home sellers is to sell to an investor. This is among the quickest ways to sell your home.
Selling to an investor means you sell your home as in whenever you’re ready. You will typically receive cash (which is rare) within 24 hours of submitting the property to the investor.
Investor’s motto is “We Buy Any House“. This means, whatever the condition your home is in, they will buy it. If you have an outstanding loan, investors can take over the loan payments, too.
The entire transaction takes a maximum of 30 days, so it’s quicker than selling through a realtor.
Investors are like real estate agents. They have expert knowledge, handle the paperwork and the details, and are there to provide advice and clarity through the entire process.
The cons to selling to an investor are that you won’t likely sell the home at market value. It may be less than you desire. Also, you have to be careful of scammers or investors who are not actually professionals.
Which Way Will You Choose for Your Quick House Sale?
As you can see, there are many different ways to sell your home. Whether you choose to hire a real estate agent, auction, or sell to an investor, any of the above methods will help you get a quick house sale. You can be on your way to living your next chapter.