If you have to sell a house quickly, selling your home for cash is definitely the quickest way of selling it. Your house can be sold to a “we buy houses” company, an iBuyer, a local real estate investor, or you can even sell a house yourself for cash. How you proceed to sell your home will eventually depend on various factors, mainly financial and circumstantial. If you are to answer the questions of “how to sell my house fast?” you must first understand your options. Let us have a look at each of them.
We Buy Houses:
We buy houses companies are private real estate investment companies that buy houses for cash. They are fast, reliable and will offer direct cash for your house. With a cash home buyer, you can close on a house deal within just seven business days instead of the standard closing time of a traditional sale that is at least 40-60 days. We buy houses companies can buy as-is properties and are a good match if you want to avoid repairs or renovation.
- Quick Cash sale
- Can Sale a house as-is
- No agent fees
- No Mortgages or Loan Approvals required
- Offers are usually less than the market value
- Buyers may use predatory tactics
A relatively new player in the real estate market, iBuyers are the modern option when selling a house. These companies determine your house value using computer-generated algorithms of the local real estate market. Most iBuyers use an AVM (automated valuation model), a software that evaluates a house’s worth. iBuyers usually buy homes that are in good condition, and they will not be interested in a rundown property.
- Fast and easy Sale
- Offers are closer to market value
- Does not buy houses as-is
- Not available universally
Although not as quick as the cash home buyer companies, an excellent real estate agent can fetch you a good price for your house. An experienced real estate agent can close a deal in as few as 30 days. It’s a lot than the seven-day closing time of a we buy houses company, but you will get a far better offer. A good agent typically takes a 4% commission. So, if time is not a significant deciding factor and you can spare the 4% for agent fees, then perhaps this could be a good option for you.
- Can get the best price
- Can buy a house as-is
- It takes longer to close
- Agent Fees
FSBO is “For Sale by Owner.” If you can take on a more hands-on approach when selling your house, then you can save on agent fees and other commissions by selling the property yourself. An ideal situation would be if a relative or friend is the buyer; in that case, an FSBO can be a quick and easy sale.
- No Agent Fees
- More control over negotiations
- Can be quick if the buyer is someone you know
- It can be a hassle
- Need market knowledge