Thinking about selling your house fast without a Realtor? Here are 7 things that can drag out the sale of your house and how to keep it going quickly.
Trying to sell your house can be daunting and time-consuming. When you want to sell your house you may not want it to drag out for months. Here are the key issues that can drag out the sale of your property and how you can keep them from holding you up.
Preparing Your House For The Market-
You want to sell your house quickly, but don't get in a rush and skip some steps. You'll also need to clean up and do some repairs so nothing looks out-of-place. This can be time-consuming but that is what buyers want. Make sure the house looks presentable and inviting so potential buyers can picture their family in your house. Buyers are picky they want to see a well-maintained home that is move-in ready so, take the time to do some repairs and put your home on the market. If making repairs seems daunting you can always sell your house fast to a local cash home buyer. When selling to an investor they will buy it as-is so you don't have to worry about making any repairs. They can often close in as little as 14 days, more on that later.
Showing The Property-
When you sell your house fast, potential buyers want to see it right away. You don't have time to wait so make sure the home is available for showing at all times. If you are working with a realtor schedule showings around their availability and yours too if possible. On days when you aren't available try having an open house or do shorter appointments during the day instead of evening hours. Having your property vacant will let everyone know that it's on the market and ready for sale; this can bring in more interested parties faster than expected!
If selling your house yourself put up signs outside letting people know about any upcoming shows or if they could come by between certain hours to view the home. Investors often only need one showing to make an offer and get ready to close.
Now that you have had a bunch of showings hopefully you will have an offer or two. When you sell your house fast to an investor they will most likely make an offer quickly. Sometimes the first or second offer can be the best one so don't wait too long to accept it if it's what you're looking for.
Working Out Terms-
If you are working with a Realtor, this is where things may start taking longer than expected. They want to get as much money from the sale of your house as possible and sometimes that means negotiating terms with buyers. This could mean haggling over the price, getting them to waive contingencies, or even making repairs before closing. If you have already accepted an offer from an investor they will usually want to close on the property as soon as possible so there
Most traditional sales have an inspection contingency. This means that the buyer will have a professional inspect the property and if there are any major issues they can back out of the sale. This process can take days or weeks, depending on how long it takes for the inspector to come to look at your house. If you sell your house fast to an investor they may not require an inspection contingency because they are buying it as-is.
This could speed up the closing process since there won't be any hang-ups from buyers withdrawing from the sale. Buyers will use the inspection to renegotiate or get a price reduction. Sellers are often pressured by agents to sell for less if the inspection turns up too many issues with the house.
Now that you have finished negotiating the inspection repairs it's time for the lender to start the underwriting process. They will run your credit and verify all of the information the buyer provided to them during the loan application process. This is when they make sure there isn't anything else in their life that could prevent closing on time or at all. They are also checking for errors, so if something was misstated on the original application it may come up here which can delay things even further.
If everything turns out okay with underwriting your lender should be able to approve the loan after a few weeks depending on how busy they are right now. You'll have an official approval letter from them then too so you know exactly what you're getting into before signing off on any paperwork!
If you are selling to a cash buyer the underwriting process is quick. They will have already had their money in order and won't need to wait for a loan to be approved.
A big part of the underwriting process is the appraisal, which typically takes a few weeks.
This is when your house will be evaluated to make sure it's worth the price you are asking for. If the home doesn't sell at that price then there might not be enough equity in it or something else has gone wrong with this part of closing on a property sale.
Appraisers work based on what similar homes in the area have sold for recently. If all goes well and everything checks out here too congratulations! You'll finally get closer to selling your house fast later on down the road. Be patient just a little bit longer because soon you're going to see how much time and stress this process could save you by working with an investor.
When working with a cash buyer they don't need appraisals so this stage of the process is skipped saving you weeks.
If you have followed this whole process it should take at least 90 days but you are finally ready to close. On the day of closing, the new buyers will do a final walkthrough. Make sure the property is in the same condition as when they first did their walkthrough otherwise they may be able to back out of the sale.
This is also your chance to do a final walkthrough and check for any damage that was done by movers, contractors, or anyone else who had access to the home while it was being sold. If everything looks good and there are no surprises here then congratulations! You have successfully sold your house fast. Make sure there are no last-minute surprises before signing anything and get your check for the selling price.
If you sell to a cash buyer then the final walkthrough will be fast, they're buying as-is.
Now that you know how to sell your house fast, it's time to get started on the process! Make sure you have everything in order so there are no delays. This includes getting your home ready for potential buyers by doing some repairs and cleaning up. You'll also want to make sure you have all of your documents together like the deed, mortgage information, and insurance papers.
If you're feeling overwhelmed or don't have enough time then sell to a cash buyer who will take care of all of this for you. They will buy your house as-is so you can avoid any delays from inspections or appraisals. Selling your house has never been easier thanks to these tips!