5 Ways to Sell a Home Quickly
What do you do when you need to sell your home quickly? You may not have the time or money to do extensive repairs and your financial situation may be forcing you to take action.
The quickest way to sell a house is “as is” but this will mean not getting the best price. However, in certain circumstances, it may be the best solution. Here are several steps you can take if you need to sell your home quickly.
1. Sell a home “as is”
In certain circumstances, it may be best to sell your house “as is.” If you are in a financial situation where making any repairs is impossible, you may have no choice but to sell “as is. You may have lost your job and you could be risking foreclosure. If you are incapacitated or seriously ill, selling your home “as is” probably makes the most sense.
You will definitely earn less money than you would if you made the repairs. However, it can be practical, quick and involve less stress to sell in this way. “As is” means the buyer usually has to sign paperwork that indicates an understanding of the exact terms of the transaction.
Get a free estimate from Halo Home Buyers if you want to sell your house in the New Jersey area as quickly as possible. There is no need to spend money on maintenance or repairs to prepare the house for sale and you receive a cash offer within 24 hours.
2. Make minor cosmetic improvements and then sell
Homeowners can do some small, cost-effective renovations to spruce up their houses. Repairs like painting and removing debris can go a long way towards improving curb appeal. Spend an afternoon mowing the grass.
If the paint is falling off the walls, a new coat of paint in a neutral color can immediately make the home look more inviting. Small cosmetic changes may help homeowners to get a better deal and do not take much time.
3. Reduce the price
Homeowners cannot change the location of their properties but they can change the price. A major change in the asking price can help the house to sell quicker. The reduced price can be a huge motivating factor for buyers.
When a house is priced too high and sits on the market for months, this is often a deterrent to buyers and they wonder what is wrong with the house.
Your property has to be a great deal in comparison to other houses in the market in your area. People would rather buy the least expensive home in a good area. If you want to sell fast, the price is probably the most important consideration.
4. Consider a short sale
In many cases, when people want to sell fast, it is due to not having the money to pay the mortgage and facing the risk of losing the house. The mortgage lender may agree to a short sale. This means the lender is prepared to accept less than the home is worth.
Contacting the lender to ask about a short sale can be humiliating but it is certainly better than risking a foreclosure and being evicted from the home.
5. Transfer the mortgage to someone else
You will need to read your mortgage documents to find out if someone else can assume your mortgage. If it is possible, you may even be able to stay in the home and pay rent to the person who takes over the mortgage. This option is not a common one but it is possible as long as it is allowed and you can find someone to assume the mortgage.