You have just inherited a house but aren’t ready or willing to deal with its financial implications, for example, property taxes or maintenance. In another instance, you might have landed a lucrative opportunity out of state, perhaps even abroad. So how do you sell your house fast? Selling a house is among the most stressful situations since a lot of things, from when the right buyer will arrive, the final price, and when you close, to name a few, are out of your control. Nonetheless, you can still find amazing hacks to help you sell fast. Have you checked MV Realty reviews? You’d be amazed by how professional agents can help as you look to sell your house fast. Among the overlooked yet effective ways to sell fast include:
Sell as-is
Cash buyers are an excellent solution when you want to sell fast, including when you want to avoid foreclosure and its damaging impacts. Foreclosure can, for instance, significantly impact your credit score. With ready cash, as-is buyers can get you out of such a situation since they provide enough to help you finance the loan. The as-is arrangement means you don’t have to make any home improvements, list, or wait for the right buyers to come. You also won’t deal with lengthy negotiations and inspections and, at the end of the day, wait for financing from a third party to close the deal.
Cash buyers can help you close the deal within a few days or weeks. This is because they are investors with ready cash, meaning they don’t have to go through lenders to raise enough money to buy a property. As-is buyers also offer a seamless process. You only have to contact them, provide the house details, and schedule a site visit. They’ll check the house, provide a firm offer, and you get to choose the closing date once an agreement is reached. They also don’t charge any fees or commissions. The downside, though, is that you won’t fetch the highest price. Some even make a lowball offer that could go as low as 50% of the property value.
iBuyer
The approach offers the fastest solution, with the average closing time being as fast as less than seven days. Like cash buyers, the iBuyer buys property as-is, then lists it in the open market to fetch a better price. This is a great way to get the house off your hands, especially since the iBuyers offer a firm offer, going as high as 99% of the property value. Nonetheless, they charge a service fee or commission, typically between 5-10%.
When you opt to sell to an iBuyer, you won’t have to deal with repairs and maintenance, house prep, showings, or lengthy negotiations. Suppose the property needs maintenance before being put on the market. In that case, the iBuyer will come with their contractors for such work. Basically, the approach offers certainty and speed, like selling as-is, but with a better price tag.
The major downside is that not all properties qualify. For instance, if the house requires major repairs, you may not qualify, and if you do, the final offer won’t be as good. Besides the property condition, most consider the construction year, market value, location, size, and if it is owner-occupied.
House trade-in
Much like the name suggests, this approach involves swapping houses. When selling a house and buying a different one, the main hiccups are the financial considerations, since closing dates hardly match. With the house trade-in, you get the chance to find and acquire a replacement home while still on your current property. The approach is great if you are selling your house due to a scheduled move.
The arrangement offers controllable moving dates. This is since you access your home equity before selling, allowing you to purchase a new house within the moving timeline. You also don’t have to take a double mortgage since the trade-in companies provide the money. With their backing, you enjoy better buying power. If you can’t sell the house within the set schedule, the arrangement can include the company stepping in as a buyer or listing service.
The downsides to the arrangement include the service fee, which could go as high as 6%. You may also incur a rental fee in the new home as the trade-in company could hold the house as collateral until the old home sells. Moreover, you may be forced to work with the approved lenders and agents to qualify for the trade-in company’s services. You are also limited since the services aren’t very popular. The bottom line is that you get to move into your new home fast and with fewer initial hassles.
Enlisting a real estate agent’s services as you look to sell a house fast is a no-brainer. Look at MV Realty reviews to see why the professionals come in handy even in the modern digital setting characterized by more DIY endeavors. Nonetheless, the approach does not guarantee a fast sale. As for your situation, you can explore more options, as highlighted above.
