How to Sell Your Home Fast and Avoid Unforeseen Pitfalls
Selling your home fast decreases your stress levels and may even help your financial situation. Who wants to deal with keeping their home in pristine condition 24/7 or putting their life on hold while you wait for the right buyer? That doesn’t sound appealing.
If you find yourself asking ‘how do I sell my home fast,’ we’ve got the tips for you. It’s important to understand that selling your home fast doesn’t just mean pricing it right; it also means avoiding the most common pitfalls that can keep a home sitting on the market much longer than you anticipated.
Tips to Sell Your Home Fast
Selling your home fast means making sound choices including the following:
- Choose the right real estate agent – You want an agent with experience in your area. How many homes has he/she sold in your neighborhood? What advice does he/she offer upon walking into your home? What services does he/she provide in addition to throwing your listing in the MLS (anyone can do that). Choose the realtor with the experience and value-added service that you desire.
- Choose the right time to sell – Spring and summer are typically the best times to sell a home, but you may have other reasons to sell during other times of the year. Timing comes down to listing on the right day, even if it’s not during the ‘ideal time to sell.’ A reputable agent should be able to guide you through this, helping you sell at just the right time.
- Take great pictures – A picture is worth a thousand words and most buyers will look at your home online before they see it in person. Make sure the pictures showcase your home’s best features and show both the inside and outside of your home for the best results. Without good pictures, many potential buyers may pass your home up without ever looking at it in person.
- Depersonalize your home – While you may love the trinkets and photographs around your house, it doesn’t let potential buyers view the home as their own. Take down the ‘personal items’ and open up your home to the possibilities potential buyers have in mind. Let them visualize their own belongings in the home, enticing them to buy it.
- Stage your home – Whether you hire a professional real estate stager or you just declutter your home yourself, make it look open and welcoming. Think minimalist and open. Put large furniture or other bulky items in storage. Open drapes and blinds and let as much light into the home as possible. You want buyers to see the endless possibilities your home possesses.
- Price it right – Know the value of your home (your realtor can help you) and then price your home accordingly. Don’t go overboard, pricing it high knowing that you can come down during negotiations. Price it right from the start and you’ll get more positive attention and potential buyers. In fact, underpricing your home may bring in more buyers and more competition which will naturally drive the price higher.
Pitfalls to Avoid When Selling a Home
Selling a home fast also means avoiding certain pitfalls including:
- Setting the price too high – We touched on this above, but it’s worth mentioning again. Set a realistic price. Remember, buyers have access to the internet where they can find the values of homes in the area. Chances are buyers will know your home’s worth before they even come see your home. Setting the price too high only scares potential buyers away.
- Not fully understanding the costs of selling a home – Even though you are selling a home and (hopefully) making a profit, there are costs that you’ll incur. Aside from the real estate agent’s commission, there are taxes and fees sellers are responsible for along with the cost of repairs and temporary places to live (if you sell before your house is ready).
- Considering only the financial part of the offer – An offer to buy your home means more than the price a buyer will pay. Consider the contingencies they ask for, such as a home sale contingency or financing contingency. If they don’t sell their home or secure financing, they have a way to back out of the contract. Also, consider what they ask for – do they want numerous repairs, are they requiring a closing date far in the future, or do they want a seller credit? Look at the big picture before accepting an offer.
- Hiding major issues – If your home has issues, reach to real estate investors before fixing it. This is because sometimes its better sold’ as is’, investing in renovations may not be worth it. Most importantly, don’t hide them. Chances are that a buyer will order an inspection on your property. They may even ask for an inspection contingency, giving them time to review the inspection report before committing to the purchase. Hiding major issues never works. If you can’t fix them, at least be upfront about the issues and be ready to offer a seller credit to pay for the repairs.
- Not requiring a preapproval – Anyone can walk through your home and say they want to buy it, but are they qualified? That’s the big issue. Letting just anyone walk through and bid on your home can leave you sorely disappointed. Instead, require a preapproval letter from a reputable lender and only take bids from serious buyers.
Everyone wants to know how to ‘sell my home fast,’ and while it’s not an exact science, there are certainly ways you can speed up the process. Doing your homework, getting the home ready, and ensuring that you have the necessary information to price and list your home are all crucial steps. Jumping the gun and just listing your home, hoping that someone will buy it may leave you with a home on the market for much longer than you hoped. Follow these steps and most importantly reach out to us and we will ensure the you sell your homely worry free, on your time and with cash. get your home listed at the right time and sold for the amount you want.