At some point in your life, you will most likely want to sell off your property for a myriad of reasons. It could be that you want to change neighbourhoods. Perhaps you are looking to relocate to another city, possibly for work-related reasons, or maybe even family. Or, more crucially, you require to sell to be able to fund your business.
Marketing your home through a real estate agent can be a long, daunting, pricy process. It will take time, and they will charge you a commission, minimizing your returns from the sale proceeds. Conferring to a study carried out by Zillow Research, a home can spend an average of 68 days, depending on the market. Other factors like location, property condition, asking price, and the grandiose of the property are all determinants of how long your property will remain on the market.
Understand the Factors That Affect the Sale Process
If only selling a house was as fast as popping corn, right? But it isn’t. Let’s start by understanding the parameters that affect how you can dispose of your property for reasonable compensation within an acceptable duration.
Location
Location is one of the most substantial determinants as to how fast you can sell your home. If your home is on a waterfront, or in a desirable neighbourhood, chances are, you will get lucky. If it is in an area where crime rates are high, don’t be surprised if your home remains on the market for long.
Price It Right
Your home is a space you once loved. You probably still do, but the decision to sell is inevitable. As such, learn to let go and don’t involve your ego when pricing. Sentimental value has no price tag, always remember that. Focus on setting a price that will motivate potential buyers and have them running towards you. Who knows? You might create a bidding contest due to your aggressive price, eventually getting your initial desired amount.
Renovations
For starters, do you have the financial capacity to give your house a facelift before putting it on the market? Attempting to sell a place that’s not aesthetically updated is a herculean task. If you need to carry out repairs of visible fixtures, be sure to do so. Otherwise, you may end up selling your house to a company that buys properties for the land value, brings the home down and rebuilds from scratch.
How to Ensure a Fast Sell
Your primary intention of selling your home is to raise funds for your business so these may seem like significant limitations. Here are several suitable ways to handle this challenge.
Drastic Price Reduction
Human nature dictates that we are naturally drawn to discounts and great deals. When you drastically reduce the price on your market listing, you draw attention and motivate buyers. People are so inclined to get a great deal. You will soon find out that they would much rather enjoy a massive discount than insist on impeccable repairs and fixtures. This option may not give you the desired results in raising funds for your business and meeting your monthly obligations like house rent.
Identify a Top Real Estate Agent
Will selling through the traditional real estate agent ensure a quick sale? Most likely not. However, some have been licensed agents for so long they became top producers. Top producers are agents who have developed a great rapport and strengthened relationships over the years and experience frequent business booms. You can find top producers online. You’ll be able to identify them based on the numerous positive reviews they have to their name. This is not a guarantee that your property will sell as fast as you may want, but it will sell quicker than using the average real estate agent.
Sell to a Wholesaler
The main advantage of selling your home to a wholesaler is that you will likely receive payment in cash. Factually, a great deal of real estate transactions are carried out using liquid money, with no banks’ involvement. Therefore, no underwriting hurdles. A wholesaler acts as a middle man. He links you, the seller, to a cash buyer from his existing portfolio of aspiring clients.
Unlike sourcing for a real estate agent, identifying a suitable wholesaler can be quite a daunting task because traditionally, they are the ones who find you. Not the other way round. The ‘For Sale’ sign is what will draw them to you, especially one that’s indicative of the enormous discount you are extending to potential buyers. Selling through a wholesaler ensures a fast process. However, it also means that you will sell at significantly less than your initial intention.
Short Sale Your Home
When you are considering to sell your home to raise funds for your business, you are likely in a tight spot. You have probably already sold off whatever other disposable assets you had to your name. In case you have an existing mortgage, this ultimately means that a foreclosure may be knocking your door at some point soon. To avoid this, or at least come out with your head above water, you may want to consider asking the bank to make a short sale. It may not be the most suitable option, but it’s undoubtedly better than being slapped with a foreclosure. Still, you may not achieve your targets for raising funds to fund your business.
Identify a Reputable Cash House Buyer
Engaging a cash home buyer’s services is by far the most plausible option that makes the most financial sense. To sell your house for cash real fast, consider commissioning WeBuyAnyHome. They will not only give you money for your home, but they ensure you receive the final property price quoted. They will also pay all legal fees on your behalf and appoint a solicitor at no cost to you, meaning you don’t lose out. Surveyors and Valuers must be involved in any property sale to provide an accurate value. If you choose to proceed with your sale process via WeBuyAnyHome, you absolve yourself of these costs. It’s a win-win.