The Newbie’s Guide to Selling a House for Cash
You’ve landed your dream job and you start in four weeks. You’ve got to book your flights, find an Airbnb, and … Oh yeah, you also need to sell the house. Even if your search history includes “How to sell my home fast for cash.” because you inherited the property while you live in another state, the point still stands:
Figuring out how to sell a house fast isn’t easy. And when you add the additional complication of trying to sell a house as-is for cash, things can get even more difficult.
That’s why we’ve put together a general guide on how you can turn your house into cold, hard cash. Read on to learn more.
Assess Your Home’s Strengths and Weaknesses
Even if you’re already committed to selling your house as-is, your property may have more going for it than you might have initially thought.
Are you in an excellent location in a growing neighborhood? Do you have an extra bedroom in an area where people are lucky to find two-bedroom properties? If the house does need repairs, are you talking, “The entire main floor needs major work.” or “You just need to add a light switch cover in the master bedroom.”?
When buying pre-owned items, most people are willing to pay a little more for a laptop that’s so lightly used that it might as well be new. And houses are no different.
Whether you’re willing to do some tidying or you’re just looking to sell ASAP, this initial audit can go a long way towards helping you get a sense of what your options are.
Your Selling Options
At this point, you have a good idea of your home’s selling points. You can tell potential buyers all about the nearby schools and the affordable property taxes. You’ve also got a full list of needed repairs so that the future homeowner will know exactly what they’re getting into.
How do you actually generate a sale? By our count, property owners have at least three options at their disposal:
1. Hiring a Realtor or a Broker
Do you know what home buyers are looking for in your area? What are some small, quick, and easy hacks that you can use to land property quickly?
If you’re like most people who don’t work in real estate, these questions will take some googling. But an experienced real estate agent or broker will be able to give you all of this information and then some.
When people are in legal trouble, they contact their lawyers. When they’ve got money-related problems or problems with the IRS, they get in touch with financial experts and tax specialists.
Real estate professionals are a goldmine of sales advice and information. They’ll be able to assess your home, list it, and show it even if you’re not there. For people who can wait a bit to sell and who like the idea of letting an experienced pro do the heavy lifting, real estate agents are an invaluable resource.
2. Listing the Home Yourself
In 2021, CNBC reported that the price of housing was rising at a faster rate than people’s incomes. If you’ve already sat down and said, “Let me sell my home for cash.”, it might make sense to bypass the realtor and instead pocket all the money for yourself.
These days, people can take amazing pictures with their cellphones. In addition, if you or a close friend can write up a compelling property listing, you could be posting the house tomorrow and fielding offers before the end of the week.
If you’ve got a bit of time on your hands and you’re the type of person with a strong preference for DIYing things, handling the listing yourself could be an option worth exploring. As is the case with hiring a realtor, however, there are no guarantees that the house will be sold as quickly as you’d like. And if you’re specifically looking for a cash buyer, those offers might not come in right away even if you’re selling at a discount.
3. Selling the Property to Cash Home Buyers
Let’s say that you need to get out of the house fast. You want to close the deal ASAP and get the cash into your bank account yesterday. But, at the same time, you don’t want to stage the house, put lipstick on a pig when it comes to repairs, or deal with the risk of the deal falling through.
What can you do?
You can sell to a company that buys houses upfront for cash. If you’re in North Carolina, companies like Wake County Home Buyers are always looking to make a deal. But even if you live in a different state altogether, chances are that there are home buyers like this located somewhere near you.
These businesses are generally real estate investors. They’ll make repairs and add new features before re-listing the property at a higher price. If you’re primarily concerned about getting a cash offer as fast as possible, these businesses can help you finalize a deal quickly.
Stop Googling the Words “Sell My House Fast for Cash” and Just Make the Sale
When you’re in a hurry and all you want to do is unload your house as quickly as possible. It can be tempting to get tripped up on the smaller details.
Will buyers be willing to overlook these repairs? Should I list this property if it’s borderline uninsurable? If you’re prepared to sell at a bit of a discount, the answer to the question, “Can I sell my house fast for cash?” is “Yes.”. And with the current housing market being as hot as it’s been, you might even be able to get more money for your property than you might think.
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