How To Sell My Home Cash
HOW TO SELL MY HOME CASH
Everything you need to know to sell fast with confidence
Selling a home isn’t the most fun thing in the world, it can be extremely nerve-wracking. Some say it maybe more stressful than bankruptcy, a death of a family member or a divorce.
Thats before considering the fact that you need to sell your house fast because of an unexpected life event, a new job, or financial hardship.
The clock is really ticking.
Having to make decisions without being informed is almost for sure way to lead to second guessing sometimes to the point of not doing anything at all. If you need to sell your house quickly you will need to be informed on the choices you have. This will for sure increase confidence in choosing a strategy that best suits you and your situation.
Let’s check out your options so you can build the confidence you need to make an informed decisions. While it may not seem like it, you do have options. List your house with a top real estate team in NC. Who has a large network of buyers and other agents who also have buyers.
Compare cash offers from Investors. These offers usually come attached to quick closing dates and little to no repairs.
Try your luck by listing the house for sale by owner (FSBO). You could also contact your lender to see if you qualify for a short sale in the event that you have negative equity on your mortgage. You could also try to sell it via the auction where the high bidder would buy it.
We will now to a more in depth look into each of these options to help you decide which one is right for you.
LISTING WITH AGENTS
FACT: Most People list their homes with real estate agents (89% according to NAR)
Benefits to listing with agent
They handle a lot of the back and forth communication
They process different documentation
Data shows houses represented by real estate agents sell for more money
What does an agent do to help you sell the house fast?
There are several contributing factors to how fast your home sells, how many homes are currently on the market, the mortgage rates, the overall health of the economy. Might I add no matter how perfect the scene is set for you to sell, if your price isn’t right and you are not truly motivated to put together a deal the house will take time to sell.
A good agent is there to help identify your needs and provide services that help you achieve your end call which is ultimately to sell your house fast. The role of an agent is guide you through the process, preparing the home to be sold, setting up staging, identifying home repairs, pricing the home effectively, putting together marketing information, negotiate with the buyer and help you navigate through the final closing paperwork.
An effective handling of these task will help to procure a willing and able buyer that pays at least market value for your home.
CASH OFFERS & IBUYERS
Unforeseen circumstances hit and you’ve fallen behind on your mortgage and in a short period of time you could be losing your home to foreclosure.
You’d would prefer not to deal with prepping your home for sale, no stagings just as is cash sale. While most sellers will chose to list with an agent the ones who do not are generally willing to trade a little equity for time and convenience.
North Carolina real estate market is filled with iBuyers that would love to submit an offer on your home. There are all types of investors and each has their own metric way of valuing a property. You have fix-and-flippers renovating distressed homes for profit and the buy-and-hold investors. Keep in mind that the investors because they are professionals have unique ways to add value. Sometimes that is taking care of storing your belongs to getting rid of all unwanted junk.
Where an investor focused real estate professional like Terrance could help is knowing which investors buy what type of properties. He is able to make sure your properties get in front of the right investors.
I NEED TO SELL FAST, SHOULD I TRY MY LUCK SELLING ON MY OWN?
So you want to try your hand at selling it on your own to save the 5-6% equity you would have paid in commissions to real estate professionals. It could work out for your benefit, if it is a sellers market.
Can you afford for your process to be slowed up? This is something you should expect this if your buyer has their own agent. Reason being is that the buyer’s agent works for the buyer and in their interest. This means your desire to sell and close quickly is coming second to the interest of that buyer.
How do you mitigate that… Plain and simple, having your own agent! A listing/sellers agent agent will be your advocate and work in your best interest. They will be aware of all the tips and tricks for a fast sale from pre-listing through closing.
While it is a tall mountain to climb you can and will certainly need to become educated on all of the necessary closing documents to complete the transactions. Be sure to arrange for a closing attorney and a title company to complete the sale. Without a professional I do believe it could be challenging to keep track of every little piece of the transaction which can hurt the chances of a quick and easy sell.
WOULD SHORT SALE WORK FOR ME?
Please don’t confuse the “short” in the term “short-sale” with the time that it takes to get one of these transactions closed. The “short” in the term “short-sale” is much more related to the money, not the time. Short sales happen when your lender has agreed to let you sell your home for less than what you owe.
Keep in mind generally speaking a short sale is going to take a lot of longer to close because you will need to communicate much more with your current lender than a typical transaction.
Many may feel that a short-sale is the way to go however most sellers need to understand they most likely don’t qualify. In orders to be eligible, most times you will need to be in financial distress, behind on the mortgage and facing foreclosure.
I believe for all of these reasons a short-sale is going to be out if you need to sell fast.
GET YOUR HOME SOLD FAST AT THE AUCTION
Selling your home via auction is not only for desperate sellers and bank getting rid of inventory. Any homeowner can sell the can their home at the auction it could be a great choice if all you care about is selling fast.
When selling at the auction you know the specific date the home will sell however it may not be as fast as you would think. Forbes suggest that an auction homes will take 45-60 days to close from the day its listed to closing.
One thing about selling at an auction is you as the seller have virtually no control over what the final price the house sells for. You do however get a chance to set the minimum bid you would take, but after that the live market will determine the final price.
You will also want to be sure you are in a very good equity position if you want to see any cash from the auction sale last thing you want to happen is for the home to sell for less than what you owe
YOU NEED THE RIGHT TEAM!
In order to sell your house fast you will need to be informed and surround yourself with the right team of professionals. I understand it seems so simple but please understand that… together everyone achieves more!