Most would agree…
It is REALLY difficult to sell your house fast, having no idea where to start, or how to get buyers fighting over your house, and get a check in your hand within weeks, not months! So How Do I Sell My House Fast For Cash?
Well it turns out it is not at all that difficult when you know how it works. What if I told you that after reading this article you will be in full control selling your house on your terms and close on the day you want?
To answer this very commonly asked question “How Do I Sell My House Fast For Cash?” we should look a bit more closely into the intention, what you really want to accomplish here. You were probably asking: “How do I sell my house fast without being taken advantage off“, or “How do I sell my KY house fast and still get a good offer“.
The key terms here are, “how do I sell my home fast“, “how do I sell my house for cash“, and “How do I sell my house fast for cash for a good price“. So, the better question would be…
Sometimes homeowners need to sell their house quickly. They rush the process and are tight on time for many different reasons. They’re either trying to escape foreclosure or they need money for something. Who knows?.. To really answer the question, we need to examine the intention. The better Q would be: “how do I sell my house fast without being taken advantage of?”, or “How do I sell my house fast while still getting a fair offer?”
1.) Know The Market Value Of Your Home
Find out how much your house is worth on the market, by getting 3 – 4 different realtors to give you a market analysis of your home and the neighborhood. Any agent can easily pull this together easily and provide it to you free of charge.
2.) Price Your Home (Slightly) Below Market Value
Although, this is not everyone’s favorite thing to hear, the lower the price the faster your house will sell. Duh! Right? But stay with me. Price the house based on how much time you afford to wait for it to sell.
3.) Anticipate & Eliminate Potential Hurdles
To avoid road blocks or stalls in the selling process ensure you have a clean title, their are no liens against your property and your not behind on your taxes (If these describe you never fear – we’ll get to that below). You’ll also want to ensure you can put your best foot forward with a good first impression to buyers. Make sure you’re house isn’t a complete disaster. If you cannot accomplish any of these items, just be transparent about it. Even in the worst circumstances, you can sell our house fast, even if it’s in very poor condition. They key to selling fast is open and honest communication. The better you communicate with your buyer, the smoother the process will go.
Selling fast and for cash are reciprocal end results. If you’ve got mounting medical bills or you’re relocating in a hurry or whatever reason you can think of you may need to sell your house fast. You’ll want to search for cash buyers.
The great thing about cash buyers is that they have cash now. They do not need to wait on the approval from banks or other financial institutions to move through a transaction of buying your house. They can buy your house “as-is” and move through the entire process incredibly quickly! They problem with a “pre-approved” buyer is that if they choose to purchase a house in less than great shape, their lender will typically slow the process or demand repairs from the seller prior to the transaction going through. As the seller, you’re then forced to make repairs, or find a buyer that is willing to pay you for your house (in poor shape) with hard earned cash, which is a risk for the buyer. It’s challenging to find a average buyer that will pay cash and is willing to complete repairs or renovations on a house.
When you deal with an investor – this is where they excel. They do this for a living, so nothing scares them. They’re used to seeing houses in less than perfect shape. This is why selling through an agent my not be a good idea when your house is not in perfect condition.
How Do I Sell My House In Kentucky For A Fair Amount?
Remember, selling fast and selling for the most profit are usually to opposing situations. On one hand, the better the location and shape the house is in the more you can demand for your house. So if the house is in poor shape, can you get a fair offer? Absolutely! So the question becomes – “Should I fix my house before trying to sell it?”. We would undoubtedly say, “no!”
Well, truthfully, “it depends“.
If you’re willing to manage a full rehab, budget and hold contractors accountable, then go ahead and do repairs. On the other hand, it may not be worth spending money to fix the house yourself. If you weigh the pros and cons then decide to make repairs, you’ll want to make the most from your money spent. You’ll want to make plain or standard repairs that potential buyers value rather than things that you want.
If you spend $4k on a new AC unit and $15k on a new roof, it doesn’t mean that you can list your house for an extra $19k. Unfortunately, when you sell your property, you don’t always get all of the money you put in it, back. The cash or “value” you put into the house by completing these renovations should be based on the market trends in your area.
Supply and demand factor will determine what a buyer is willing to pay for. If you spend $24k making repairs and installing a brand new custom kitchen, it may not work for a buyer that wanted to install their “own” specific kitchen. You need to know what is trending in today’s market and make repairs that will provide you the most money for your time and effort. If you’re not careful you can spend thousands of dollar for renovations that turn away a buyer or make a cash buyer offer less for your house because they’ll have to redo the recent renovations.
Seriously, this is important.
Don’t think that just because you spend money, a buyer will reimburse you for your time and effort. Lots of times they won’t unless they value the changes you made and actual receive value from it. It’s usually not worth it to make extensive repairs unless you’re an expert on the housing market in your area and you know exactly what buyers today are looking for.
So To Answer The Question: How Do I Sell My House For Cash?
If you end up hiring an agent, they will list in on the multiple listing service (MLS) where other brokers/agents see your listing. They list it there hoping other agents will see your listing and present it to buyers. The MLS is very competitive and usually for move-in ready houses in ideal locations. If your house doesn’t fit this bill, the MLS can take a very long time to get your house sold.
The good news, is that an agent will work to get you the highest possible offer price that they can for you. They make most of their income off commissions (typically 3% of the sale of your property is theirs to keep). The more the house sells for, the more they stand to make. Unfortunately, the higher the sales price usually means a longer time listed for sale on the market. You’ll compete with similar houses to yours. With similar houses, the one at a lower price typically sells faster. But who wants to list their house for a low price point, and then still be required to pay title fees, commissions, attorney fees and closing costs?
You could sell your house yourself. That is a for sale by owner. You’ll need to conduct your own research on what buyers are looking for, and make your repairs based on your research. You’ll still end up paying holding costs, marketing fees, attorney fees and closings costs. The process and costs can be overwhelming as you deal with contracts and all kinds of challenges selling your house.
Sell Your House To Cash Buyer!
Selling your house to a honest, transparent, authentic cash buyer (investor) allows you to bypass all the typical headaches and hassles that occur when selling your home the traditional method. Most investors (Like us), pay cash. This is great because you do not have to worry about repairs, cleaning up the place, or closing costs coming out of your cash at the end. Best of all there aren’t any agent fees (typically 3% per agent for a total of 6%).
If you need to sell in a hurry, you’re behind on your mortgage or taxes, or you just don’t want to deal with all of the hassles of a traditional sell, consider selling your house to a cash buyer. Since you’re selling to a cash buyer, it means that you can sell your house “as is:. You get to avoid repairs and the buyer is responsible for the market analysis, and all the risk involved after they purchase the property. The cash buyer is tasked with due diligence and inspecting the house. Due to this simple process, cash buyers can close in record time! Often this process can be finished in as little as days after signing the contract. It’s simple, hassle free process.
This is why our answer above recommends to sell your house to a cash buyer. If you need to sell your house and you’re ready for a quick process, selling to a cash buyer is the easiest way to get a fair offer based on market and your homes current condition. Selling to a cash buyer is ideal if you’re looking for a quick sale, but that’s not all.
You may consider selling to a cash buyer if you don’t want to deal with the hassles of repairs, open houses, commissions, and tire kickers that cause additional scuffs or repairs as they mosey through your house. A cash buyer is an ideal solution if you want a quick hassle free easy sale of your house for a fair price based on condition of the house and market value.