5 Tips For Home Sellers Looking To Cash Out Quickly

If you own a house and want to sell it quickly, read this blog for 5 tips that will help you sell your house sooner!

Tip #1 – Modify The Fix-Up

One of the most time-consuming reasons that homes don’t get sold as quickly as the seller wants is because of the renovations, repairs, and clean-up that needs to happen before the home can go on the market. 

Real estate agents understand what their buyers are looking for, so they usually urge sellers to make renovations. Unfortunately, the larger the renovation, the longer the sale is delayed. Obviously, you'll get more value if your home is in better condition, but people usually forget to consider the cost of time. Holding costs and time of year are a huge part of the sale. 

If you miss the prime selling season in your area because you couldn't get your renovations done in time, you can likely expect to take a big hit on your selling price.

If your house isn't in horrible condition, consider skipping the fix up all together. If your house needs some serious work, look into some professional contractors to get the work done quickly and professionally.

Tip #2 – Forget Retail

When a home is sold “on the market” (usually listed by an agent), the prospective buyers are usually called “retail buyers,” meaning that the buyers are looking to buy a home that they want to live in. Unfortunately, retail buyers are notoriously unpredictable and they buy on their own timeline, which may not be your timeline! Another option is to think about selling to a professional home-buying company.

These companies pay cash for homes and typically close very quickly. They also don't require you to make any repairs.

Tip #3 – Gather Your Data

One surprisingly time-consuming piece of the sales process is when the buyer requires information that the seller needs to find. This might include information such as when the HVAC unit was installed or when the roof was last shingled, etc. Homeowners who anticipate these questions and have the answers at their fingertips can usually accelerate the buyer’s timeline and potentially sell their homes faster.

If you're selling retail, have this information handy. It'll spped up the process and instill confidence in your potential buyers. 

Tip #4 – Bypass The Agent

An agent is motivated to sell your house and try to get the best price for it. While that is important, it means that they may not always have your preferred timeline in mind – since an agent may choose to delay if they think they can get a higher price. Bypassing an agent and selling directly to a buyer could help you to sell your house faster. You'll also save on commissions.

This is a double edged sword as realtors have access to useful tools like the Multiple Listing Service. A little known trick is to pay a realtor a one time fee to list your property on the MLS for you, without working for you. It costs you a few hundred bucks and you get the exposure provided by the MLS.

Tip #5 – Get Ready To Decide

It is our experience that homeowners who think they are ready to sell are not always truly ready. They WANT to sell but when it comes time to make a decision, they have difficulty moving forward. If you have weighed your options and are truly ready to sell quickly, then make it happen! 

Time has value. The longer you hold the property, the more things can backfire. It's important to consider whether a few extra thousand dollars is worth a few extra months of holding onto the property. It usually isn't!