How To Sell Your House Fast for Cash!
December 27, 2019Need Help NOW?
If you need help selling your home FAST we can provide you with a CASH offer within 48 hours. Learn more about our process or call our team to get help now: 360-551-9000
Selling a home can be an extremely stressful situation, especially if you are in a pinch for time. Whether you need to sell your home because you’re relocating or because there have been sudden changes in your life, here are the key tactics to help your home sell fast.
1. Hire a Local Real Estate Agent or Broker
A local real estate agent can help you get your house sold if you are concerned about getting the best price for your home. It can take six months or more to sell this way, as well as any preparation that an agent might request to get the house ready for a listing.
We’ve Worked With TOP Agents throughout the area and can provide referrals to great professionals who can help you get top dollar for your home.
The Process
1. Fill out a contact form to get in touch with a reputable agent in the area.
2. Sign a listing agreement with the agent to sell the property.
3. Your agent will list your property on the Multiple Listing Service (MLS), market it, and open your home for showings of potential buyers.
4. When the property sells, the agent will help take care of all the paperwork and negotiations with the buyer. When the sale finalizes, your agent and the buyer’s agent will receive their commission, and you will receive any remaining proceeds after paying all mortgages or liens on the property.
Costs
-A seller agent’s fees are usually 3% of the total purchase price of your house, as well as another 3% for the agent representing the buyers. If the house sells for $300,000, the agents will collect $18,000 in commissions.
-You will have closing costs associated with the sale, some of which are paid by the buyers.
-Any changes, repairs, or upgrades that the transaction requires will need to be paid by the seller.
How Fast Can I Sell?
-Varies, but you can expect the process to take between 3 – 12 months to sell (the national average is six months)
CanI get paid in Cash?
-Yes, it is possible to find cash buyers when working with an agent, but the vast majority of home purchases managed by agents require traditional financing.
Pros
-Real estate agents can help you get the best price for your home.
-Agents will help with all of the marketing, showings, and preparing closing documents.
Cons
-Commissions and closing fees will cut into the profit of the sale.
-Real estate agents use traditional marketing methods to help you find a buyer, which can take between 3-12 months.
Who Should Use This Option?
-If you can wait 6 – 12 months to sell
-You are okay with paying agent fees, and you have an agent who you can trust
2. Sell Your House Yourself
You can always sell a house yourself if you don’t want to pay agent fees, don’t mind doing the work yourself, and can wait up to 12 months to sell.
The Process
1. You decide the value of your home and/or pay for an appraisal to find out the correct market value.
2. You take the pictures of your house or hire a professional photographer to create a “For Sale By Owner” website or using a listing service like Zillow, Homeworthy, or Trulia.
3. You will put up the signage at the house to indicate that the home is for sale.
4. You will handle the offers, showings, and the paperwork related to the sale.
Costs
-The only cost is those related to your listing and marketing materials, plus any fees to fix up the house and closing costs.
-You may or may not pay a buyers agent fee (usually about 3%) to entice agents to bring their buyers to see your house.
How Fast Can I Sell?
-The speed of the sale depends on your ability to market the property and prepare it for showings.
-Most FSBOs stay on the market longer than ones with agents, though this isn’t always the case.
Can I get paid in Cash?
-Yes, but this is more likely difficult since you do not have access to the same resources as an agent or broker.
-One idea for finding cash buyers is to creatively place “For Sale” signs around your neighborhood or city.
-Another idea is to search the public records on houses purchased to find who is buying with cash, and then contact them to see if they might be interested in your property.
Pros
-You can save a big chunk of money by not paying agent fees. And, you also get to have full control over the sales process.
Cons
-If you’re not comfortable and/or experienced in the process of selling a house, the paperwork involved, how to determine the value of your home, etc…you could end up in over your head.
-It can also take longer to sell, which can end up costing you more than with an agent.
Who Should use this Option?
-If you don’t need to sell quickly
-You have a certain comfort level dealing with negotiations and working with real estate financial documents.
3. Sell Your House To a Real Estate Investor
Selling your property to an investor or wholesaler may be a good option if you need to sell your house as quickly as possible (30 days or less), you don’t want to do any maintenance, and you don’t mind selling at a discount in return for speed and ease.
The Process
1. You contact an investor who buys houses fast.
2. The investor will ask you questions to evaluate how they can best assist you. In most scenarios, they will asses the house, come up with a value for it, and make an offer that fits their buying criteria. You evaluate their offer and decide if it works for you.
3. If both parties agree, you sign their offer, and the investor will prepare all the necessary documents and make any other arrangements to which you have agreed. You get paid quickly!
Costs
-There are no commissions or fees in this strategy.
-The payment for closing costs can be decided between the seller and the investor beforehand.
-Investors will not offer full market value, so there is a tradeoff for speed and efficiency.
How Fast Can I Sell?
-Many investors can give you an offer and close the entire sale in as little as seven days after you accept.
Can I get Paid In Cash?
-Yes, real estate investors almost always pay in cash.
Pros
-You can sell fast and get paid in Cash in 7 – 30 days.
-You won’t have to pay any fees or commissions, and usually, the investor will pay all closing costs.
-Most investors can buy your house “as is,” and they won’t require you to repair anything, clean up anything, or even remove all your belongings from the house.
Cons
-Investors cannot pay the full retail value of your home
Who Should Use This Option?
-People who are looking to sell their house quickly
-People who are willing to sell at a lower price
-People who don’t want to deal with repairs or cleaning
Conclusion
There are various strategies for selling your home fast for cash. We have provided many of the different pros and cons of each approach to help you navigate the process. Making good decisions to get the best cash offer comes from knowing your options.
If you’re interested in getting personalized information on selling your houses for cash, you can hear more about our process here.
Photo by Jessica Bryant from Pexels–