I Need To Sell My House Fast — What Should I Do?
The clock’s ticking. You’re telling yourself, “I need to sell my house fast” however, you are unsure of all of your options.
There are a variety of reasons why you may need to sell your house fast. Maybe you just had a divorce, lost your job, or are facing other financial hardships that have you strapped for cash. Selling your house fast can be a quick way to get cash if you do it right.
There’s no need to panic or rush into a bad decision here. You have plenty of options you may not have considered. You may be thinking a real estate agent can help you sell your house fast, however, there are more options.
When you need to sell your house fast, it’s good to have a realistic idea of how much money you want to make when you sell your house. Whether you need to sell your house fast in Denver or other areas of the county, make sure you have done proper due diligence. You would never want to look back at this decision with regret and think you could have sold your house for more cash.
Can I Sell My House Fast for Cash?
Absolutely! There are several ways to sell your house fast for cash no matter the situation. If you need to sell your house fast for cash in Denver—we are always buying. If you are looking in other areas, a trusted home buyer like HomeGo will buy your house for cash and close in as little as seven days.
When you are selling your house for cash, there’s typically real estate investors involved that are looking to purchase your house below market value. They buy homes with an intention of fixing them up and selling them for a profit.
When you sell your house fast for cash you are typically avoiding all the difficulties of selling your house on the market with a real estate agent. Oftentimes that can come at a cost. There’s usually no mortgages, inspections, or repairs involved. You end up sacrificing money for speed. That’s fine if that is what you’re after. Selling your house fast can have its benefits, however it may end up costing you equity if you’re not careful.
What To Do To Sell Your House Fast
You need to decide how you want to sell your house. The major decision to make is whether you sell it traditionally with a real estate agent, or off-market through one of the various methods we outline below.
Listing with a real estate agent can help you get top dollar for your house. Although it’s not impossible, using a real estate agent may also take longer than other methods like selling to a wholesaler or selling to an iBuyer like our company if you are in Denver or Colorado.
Market conditions can also dictate how fast your house can sell. If you are selling your property in a city like Denver, Colorado where inventory is at an all time low, you can expect your house to sell fast. If you are in a city where supply outweighs demand, it may take longer to sell your house.
Benefits Of Selling Your House Fast For Cash
There are both pros and cons to selling your house fast. Most cash buyers tend to be real estate investors that may be capitalizing on your need to sell your house fast. They may be buying it to rent, or to fix up and flip like we do. There are tons of national companies that can give you a quick, all-cash offer on your house like We Buy Ugly Homes. Some of the main reasons you may be looking to sell your house fast for cash include:
No Contingencies
Selling your house on the market through a real estate agent often comes with contingencies. That means a buyer can terminate, or back out of the contract to purchase your property for various reasons. Common contingencies include inspection, financing, title, and appraisals. Selling your home with contingencies can often prevent your home from selling quickly as buyers have an ‘out’.
No Repairs
When you sell your house fast for cash, it often ends up in the hands of a flipper. This flipper will handle all of the repair or inspection items for you while expecting a discount on your property. If your house is distressed and has several items that need to be fixed, this could be a great option for you to sell your house quickly with minimal effort on your part.Some sellers prefer this while others would rather handle all of the repairs to get top dollar for their home .
Fast Cash Close
One benefit of selling your house fast for cash is exactly that. You can have cash in your bank account within a week or two. One of the main reasons you are looking to sell your house fast is because you need money.
Sell Your House As-Is
Investors and flippers typically buy your house as-is. This means you don’t have to do anything to your property. You can leave items behind, you won’t have to clean or paint. This is great if you want to sell your house fast because you can close quickly and not worry about its current condition.
No Extra Fees or Realtor Commissions
Selling your house off market means you won’t be paying any realtor commissions. Realtors in Denver typically charge 6% to list your house on the market. Selling a house through a realtor may often seem like more money on paper, however, after real estate agent commissions are paid out, it may end up being less than an all-cash offer from an off-market investor.
No Showings
When you sell your house fast to an investor or national company you often don’t have to deal with showings. This can be important if you are a private person and don’t want random groups of people walking through your property. Especially with COVID-19, many home sellers don’t want to deal with the hassle of multiple showings.
The Downside Of Selling Your House Fast
Selling your house fast for cash may seem like a no-brainer, especially if you are out of options. However there are some cons. If you are selling your primary residence and don’t have anywhere to move yet you may be left scrambling to find a place on short notice or face eviction. Selling your house fast for cash typically means the new owner will be taking possession within a week or two of closing on your property.
Another downside of a fast cash offer on your property is that it may be lower than if you went with the traditional method of selling your house on the market. Typically, people in distressed situations are the ones needed to sell their property quickly. Oftentimes this means accepting an offer on your home that is below market value. Real estate investors who purchase properties from distressed sellers typically buy the home anywhere from 70-95% of that home's value.
We can give you an online quote to sell your house fast in Denver
If you need to sell your house fast for cash in Denver, please reach out to us. We buy homes and always offer a fair market value for them. You can call us from our contact page or fill out the form on our website
How To Sell Your House Fast
Luckily there are plenty of options for people looking to sell their house fast. If you are telling yourself, I need to sell my house fast for cash, try one of these options below.
List With A Real Estate Agent
You can sell your house fast going through a traditional real estate agent, however, this is not guaranteed. A realtor can help you get top dollar for your home. Depending on what price you want to make from selling your house, it may take several months. It’s not uncommon for a house to sit on the market because it is overpriced. When you hire a real estate agent to sell your house, make sure you are working with somebody who is experienced in that city or neighborhood and has a reputation for selling homes quickly.
For Sale By Owner (FSBO)
Selling your house for sale by owner (FSBO) means extra work on your part. You’ll have to market the property to ensure it sells quickly. FSBO can be more labor intensive, especially if you lack real estate expertise. You’ll be in charge of scheduling showings and negotiating contracts with buyers. The upside of selling your own home is that you won’t be paying out any commissions to real estate agents. Zillow, Redfin, and Craigslist are three sites that allow you to list your home For Sale By Owner.
At An Auction
Selling your house at an auction is an excellent way to sell your house fast. However it does come with some risk. Your house will be sold right there at the auction, however, you are obligated to sell it to the highest bidder—even if you are unhappy at that price. Auctions can gather a lot of interest and you do get to set the starting price. It’s not uncommon for auctioned houses to be sold below market value. Most auction bidders are all cash buyers and can close quickly on your house.
Short Sale
A short sale is an agreement between you and your lender to sell your house for less than is owed on it. The lender will forgive the remaining balance on your loan. Once your property is sold, you are free of your debt on the property. A short sale is another way you can sell your home quickly. With a short sale, a buyer is actually buying the property from the bank. With short sales, you will typically be selling your home below market value. A short sale is not the same as a foreclosure sale. In a foreclosure sale, you are forfeiting your property to your lender or bank because you can no longer make your payments on the property.
Pocket Listing
A pocket listing is another way to sell your house quickly and off the market. If you have connections in the real estate industry a short sale may work for you. A pocket listing is essentially a private way to sell your home. Typically a real estate agent only tells qualified buyers that your home is for sale. Your home is not listed on the MLS and available to the public. It gets sold through that realtor’s network. If your house is priced appropriately, a pocket listing could have it sold quickly.
Renting Your Home
If you’re not desperate for cash, you can always just rent your home and turn it into an income producing property. Maybe you inherited a property from a deceased resident and want to make money from it. If you want to rent your house instead of sell it quickly, you will want to make sure it is in a good, livable condition. Renters typically will not rent distressed properties or unclean homes. To capture the highest rent for your property, make sure it is somewhere that you would want to live.
Wholesaler
Wholesalers are typically people that put your home under contract and assign the contract to an end buyer for a profit. The end buyer for a wholesaler is usually a real estate investor looking to flip the property or fix it up and sell it for a profit. Real estate wholesalers look for distressed homes that they can buy at a discounted price. A wholesaler may buy your home for $150,000, then assign the contract to a flipper for $160,000. That flipper would fix it up and resell it for $220,000. Wholesalers can typically get your home sold fast as they have a big network of cash buyers. If you are looking to connect with a wholesaler you can try networking in local Facebook networking groups or work with a national wholesaler like New Western Acquisitions.
Sell To An Investor Or Flipper
Selling your house directly to a real estate investor or flipper can result in a quick, cash sale for your property. Investors typically look to purchase properties below market value to capture equity and resell for a profit. If your property is distressed and needs lots of repairs, an investor or investment company will be able to close quickly for cash on your home. Real estate investors will often waive appraisals, inspections and showings to make the process easier for you. Some areas, including Denver have more flippers than you would expect and it is possible to sell your house quickly to an investor. You will need to make your home available for investors by posting it for sale by owner on Facebook or Craigslist.
Can I Sell My House Fast With A Real Estate Agent
Yes, but as mentioned above, the circumstances need to be right. If you are selling your house in a market like Denver with low inventory, your house can sell fast. To sell your house fast with a real estate agent, it will need to be priced appropriately. You will want to price your house slightly below the market value to generate lots of interest. You will also want to work with an experienced real estate agent to ensure they can market your property and sell your home fast.
An experienced real estate agent will help you with all of the aforementioned tasks, making your life as easy as possible. A good realtor will also help with negotiations and ensure you get top dollar for you home while still selling it quickly. It is important to discuss with your agent how fast you need to sell your home so they can price it accordingly.
I Want To Sell My House Fast For Market Value
It can be difficult to sell your house fast for full market value. Selling your house fast typically means you are sacrificing top dollar. If you are in a desperate situation and need cash within a week, you may have to give a discount on your home to a cash buyer. Cash buyers, investors, and wholesalers are typically looking for discounted properties in exchange for an all cash offer. Listing your house on the market with a real estate agent is traditionally the best way to ensure you receive the highest offer on your property. Again, there are no guarantees with how fast your house can sell when you are shooting for the top of the market.
I Want To Sell My House Fast As-Is
Most cash buyers who can close fast will buy your property as-is. Selling your property “as-is” means the end buyer will take possession of your property in its current condition. Typically, homes will go through inspection and you will be required to fix or repair several items in your home. Some of these items may include structure repair, roof repairs, painting, carpets and so forth. Selling your home as-is for cash is a great way to close quickly on your home if you don’t want to deal with repairs or showings.
Be Careful When You Sell You House Fast For Cash
There are precautions you should take when you sell your house fast for cash. Many investors and online buyers will typically give you an offer well below market value for your home. For some people that need a quick sale, this may not matter. Just beware and make sure you aren’t getting taken advantage of. It’s always good to discuss what you think your home is worth with a real estate agent, even if you don’t end up working with that agent.
Tips For Selling Your House Fast
If you want to sell your house quickly there are a few things you can do. Ultimately this may depend on your situation and how much work you want to put into your house. If you have time and money to spare, here are a few tips for selling your house fast for cash.
Clean It Up
A messy house doesn’t show well. Buyers want to see a clean, organized house. If you consider yourself a hoarder and have tons of items scattered around your property—clean them up. It may take you several hours or days to get your house clean, however, it can make a difference. A clean house will sell higher than a dirty, cluttered home.
Price It Correctly
Research your neighborhood to get an idea of what it is worth. If a home is priced too high, it won’t sell fast and may sit on the market for months. You can use sites like Redfin or Zillow to see how much similar homes are selling in your area. When research, look for similar homes that have sold recently. Try to find homes that are similar to beds, baths and square feet. Also try and find homes that are in a similar condition as yours. Don’t think you can sell your house for the same price as your neighbor who just remodeled his house last year. You can also consult with a real estate agent to see how much your house is worth.
Define Your Timeline
Giving yourself a timeline can help you sell your house faster. This ultimately depends on your situation. If you are in a financial crisis you may need to sell your house by next week to come up with some cash. If you’re in no immediate rush, you can afford to wait a bit longer to receive a higher offer.
Do Any Quick Repairs
Fixing up your house can help you sell it faster and receive a higher offer. Try to do any small tasks you are comfortable with. The difference between selling your house fast and having it sit forever could be a new coat of paint and some light touch ups.
Stage Your Home
Staging your home can make a huge difference in how fast your property will sell. The National Association of Realtors suggests that staging your home can increase the value of your home by 1-5%. It’s all about the vision; potential buyers want to see how the home looks when it is furnished. An empty home can look naked
Get Professional Photos
It’s all about first impressions, right? The first place home buyers see your home is usually through photos. You can sell your house fast and generate a bunch of interest with professional photos. Hiring a professional photographer may cost a little, but it shouldn’t break the bank.
Give Your Home Curb Appeal
Clean up any clutter you may have lying around the yard. The first thing a potential home buyer sees is the front of your house. Make sure you have a nicely maintained lawn, the landscaping looks good and there is no random junk lying around your property. A house with good curb appeal is a house that can sell quickly.
How Fast Are Houses Selling In My Area?
That depends on where you live. In some markets like Denver, Colorado homes sell very quickly. In other, less hot markets, homes may sit a bit longer. How fast homes sell in any particular market depends on supply and demand. If there are more people looking to buy than there are homes available, your house should sell fast. Alternatively, if there are more property listings hitting the market than people looking to buy in your area, a property may not sell quickly.
