How Can I Sell My House Fast?
If you’re a homeowner facing a major lifestyle change, such as a divorce or an out-of-state job offer, one of your first concerns might be, “How can I sell my house fast?” Below, we’ll cover nine tips to help you expedite your home sale and smoothly transition to the next chapter of your life.
1. Consider a cash buyer
If you’re looking for a quick home sale, one option is to sell to a cash buyer. A cash sale is generally faster than one that involves a mortgage. Cash buyer companies typically have slogans like “we’ll buy your house for cash” and “we buy homes as-is.” Keep in mind that selling to a cash buyer might mean accepting a lower sales price than you’d get from a traditional sale, since cash buyers usually deduct renovation costs from their offers.
A cash buyer might be worth it if your house needs a lot of repairs and you don’t want to pay for the work yourself, since most cash buyers buy properties as-is. If you decide to get a cash offer, it’s a good idea to gather quotes from multiple companies to ensure you’re getting a fair deal. Most “we buy houses” companies provide no-obligation offers, so you can compare quotes with no strings attached.
2. Choose the right time to sell
Timing matters when it comes to selling your home fast, though its importance varies by location. In areas with distinct seasons, timing can be especially significant. For example, selling a beach home in the winter may be more challenging than selling it in the spring or summer. June is one of the best times of year to sell a house — homes stay on the market for a median of 31 days when listed in June, versus 49 days in December through February, according to the National Association of Realtors (NAR).
Buyers vs. sellers markets
When it comes time to sell your home, it’s important to understand the current housing market. In a buyer’s market, homebuyers can demand more repairs and upgrades, and ask the seller to pay closing costs if they’re taking out a mortgage. Sellers need to do more to attract buyers and may have to settle for a lower price or wait longer to find a buyer. In a seller’s market, there are more buyers than available homes, which can result in more offers above asking price and faster closings.
3. Find the right real estate agent
An experienced real estate agent can help you sell your home in a timely manner. Most home sellers use a real estate agent — 89% of sellers were assisted by a real estate agent when selling their home, according to data from NAR.
Real estate agents understand the complex legal language of purchase contracts and can track all the moving parts involved in a home sale. A real estate agent can help you with various tasks, including:
→ Setting a competitive price
→ Scheduling showings
→ Reviewing purchase offers and making counteroffers
→ Negotiating who pays for any requested repairs
→ Communicating with the buyer’s agent
Is for-sale-by-owner (FSBO) faster than using an agent?
One situation where a for-sale-by-owner home sale could be faster is if you already have a buyer lined up. Otherwise, FSBO transactions typically aren’t any faster than a sale that uses a real estate agent. In fact, selling a home yourself can take longer since you miss out on the professional marketing, pricing strategies and negotiation skills that a real estate agent provides.
4. Make necessary repairs
Before listing your home, it’s crucial to address any repairs that might cause issues during the home inspection. Some of the most common problems uncovered during home inspections include:
→ Faulty drainage
→ Outdated electrical wiring
→ Damaged roofs
→ Cracks in the foundation or floors
→ Plumbing issues
By making home improvements upfront, you can present your home in the best possible condition, making it more appealing to buyers and helping ensure a fast sale.
5. Set the right price
Setting the right price can help your house sell quickly. Pricing your home is a delicate dance — if you price it too low, prospective buyers may think there’s something wrong with the property. On the other hand, pricing it too high could deter buyers, and result in your house sitting on the market for a while.
Your real estate agent can prepare a comparative market analysis (CMA) to help determine the right price. A CMA analyzes recent sales of nearby properties with features similar to yours. A “comparable” home is usually one that:
- Is located close to your home in a similar neighborhood
- Was listed or sold within the last three months
- Is roughly the same age as your home
- Has square footage equal to or close to your home
- Has similar features as your house (upgrades like countertops and flooring or a pool)
6. Maximize curb appeal
Curb appeal is how attractive your house looks to someone from the outside, and can include landscaping, exterior paint and how well-maintained your front door and entryway look. Even small changes, like adding a stylish light fixture to your porch or replacing your house number, can help your home look more polished and create a positive first impression.
7. Stage your home
Staging involves renting and rearranging furniture to make your home more aesthetically pleasing to buyers. Staging can make it easier for buyers to visualize the property as their future home and may result in offers that are 1% to 5% over the asking price, according to NAR. Depersonalizing the house is another important step. Potential buyers want to envision themselves and their families living there — which can be hard to do if the living room is painted neon green or you have sports memorabilia covering the walls.
8. Spruce up your house
When it comes to sprucing up your house, a little effort can go a long way. Start with some easy cosmetic upgrades, such as a fresh coat of neutral-colored paint and a deep cleaning. If your house has a lot of clutter, now would be a good time to donate items you no longer use to free up space.
Other ways to spruce up your home to help it sell faster include:
- Replacing light bulbs
- Fixing leaky faucets
- Installing new hardware for cabinets
- Repairing holes in fences and gates
- Lighting a candle or baking cookies for open houses
Are you looking to buy a new home once you sell your current property? Learn how to buy and sell a home at the same time.
9. Take professional pictures
Most homebuyers start their search online, and professional, high-quality pictures can make a big difference. Instead of snapping a few photos with your smartphone, consider hiring a photographer to showcase your home. Additionally, creating a video or virtual walk-through of the property can boost interest and help your listing stand out.
Frequently asked questions
The time it takes to sell a home is 43 days for conventional loans and 44 days for FHA loans. However, it can take longer if issues come up in the appraisal or title search. Selling your home to a cash buyer can be faster since they won’t need to go through mortgage underwriting.
Technically speaking, you can sell your house at any time. However, it’s typically recommended to stay in your home for two to five years or more to give yourself time to build home equity and break even on the closing costs.
Some property types that tend to sell quickly include starter homes (which are typically favored by first-time homebuyers), single-family homes and well-maintained properties. Homebuyers often prefer move-in ready houses to fixer-uppers.