2020 saw many industries suffer a tumultuous year due to Covid, and the real estate market was no different. Although the market picked up later in the year as social distancing rules were relaxed it had a tough first six months.
In 2021, the future’s looking brighter. Sales are expected to grow by around 7 percent, according to industry insiders, and while this is good news in general it doesn’t help a certain type of seller.
Selling a house fast can be a lengthy process and even though the market is buoyant, it can take months for the whole sales process to be completed. Quick sales can make it difficult to get full price. Some markets will support quick sales at top price, but in many markets you will loose some of your profit to get a quick sale.
Fortunately, there are some ways that you can offload your unwanted property for cash, and importantly, stress-free.
Is it wise to sell a house for cash?
When it comes to selling a property there are many reasons why someone wants to see the back of their home. The most common reason is usually to move to a bigger home, perhaps due to a growing family, or a smaller one because the kids have grown up and flown the coop.
There are several other reasons that people need to sell homes and these are often linked to needing a quick sale. Redundancy, debt, divorce, and legal problems, can all lead to needing a fast cash house sale.
Some may live abroad and don’t know how to manage an overseas property they were left in a will. Or, they might want to move abroad for a new job and they want to sell their home in Dallas quickly.
While it is true that you would normally get more money by selling the traditional way, it wouldn’t suit any of the people above to wait months for this to happen. This is why a cash sale is sometimes wise.
How can you sell a house for cash quickly?
The normal route would be to look for a real estate agent but as already mentioned this could take weeks or months for a sale to complete.
The three main ways to sell a house quickly for cash are to place your home in an auction, to list it yourself in classifieds and online, or use a property investor.
Selling your home in an auction
An auction can be a very quick way to sell your home. Many people attend house auctions looking for a bargain and they are often used to sell repossessed homes.
You will be competing with other houses so you may need to know how to add value to your property and invest in some renovations. As you are looking for cash this expenditure is not ideal.
The plus point of using an auction is that you could make a sale then and there. The disadvantages are that your house may sell for a low price, you will have to pay around 2.5% to the auctioneers, and there may be other costs involved too. Some auctions require you to pay advertising costs, and you may also need to involve a lawyer.
Advertising in classifieds
You may have heard of people selling their own homes through Craigslist and other classifieds. This is entirely possible although it isn’t necessarily stress-free.
You can take your own photos, write your listing, and show potential buyers around the home. However, there is no guarantee of a sale and you will have to employ a lawyer and pay legal fees to complete the process. All in all, it could take as long as using a realtor and be just as stressful.
Selling your home through a property investor
This is one more way to sell your home for cash and it is a method that is getting increasingly more popular.
A property investor will buy your home for cash regardless of what condition it is in. This means you can avoid the expense of renovations, and if you are out of state you don’t need to worry about traveling back to declutter it.
The negative aspect of using one of these firms is that you will receive less than if you go through a realtor but the advantages for someone needing a quick cash sale will likely negate this. Clicking on https://cashhousebuyersusa.com will show you the typical route one of these cash house sales takes.
Selling to a property investor means a cash offer is made quickly and the whole sales process wrapped up in perhaps just a week. Legal fees are covered by the buyer so the seller has the most stress-free way to sell a home.
Choosing a property investor
Look for one in your area first online. If you are in Dallas then Google cash house buyers Dallas for some of the more relevant listings.
Look for good reviews and recommendations online. Also, look for companies that are BBB A+ Better Business Bureau recommended. This is a sign that you are dealing with a reputable company.
There are a few ways to sell a house quickly but they have some limitations. Auctions do not offer a guaranteed sale, and private listings could come with a lot of legal issues to deal with.
Selling to a property investor would seem the least stressful way to sell a home for cash and quickly.