There are many reasons why you might find yourself in a situation where you are desperate to sell your house. From getting a divorce to being relocated to another city or state by your job; because you need cash to send your kids to college, because either you or someone you love needs funds to deal with a medical emergency or because you might be facing foreclosure, the reasons why anyone might need to quickly get rid of a property are endless and many times also urgent.
What are some ways to get rid of that property fast?
Besides opting to go with a foreclosure or a short sale, both of which may have unintended consequences such as an impact on your credit rating, there are some other strategic ways to unload a property fast. Here are some of them:
Deal with a Company that Will Pay Cash for Your Home
There are businesses that will offer to buy your house in as little as seven days. By simply providing them with your home’s location, its age, and status, a quick walk through the property will result in an all-cash offer. As soon as you accept it, the home is sold.
Sell Your Home on Your Own
Get your home ready to sell by decluttering it, painting whatever areas need a touch-up and listing it online. Update the listing very often and offer incremental reductions. If time goes by with no results, implement these steps:
- Remove your listing for five days
- Once you list your home online again, price it lower than other comparables in your area
- Include your home’s floor plans, add some fantastic pictures and share positive information about the home
- Print some flyers and distribute them around your neighborhood
- Offer a “One Day Sale” in which you will do a special reduction
- Consider offering an incentive such as a weekend getaway to whoever makes the offer you accept
- Most importantly, don’t forget to make a fabulous first impression, since 8 seconds is how long it takes for someone to know whether that property is the one for them
Go for a Strategic Default
This option may be a little drastic but, if the value of your property has fallen significantly, you may elect to stop making your monthly mortgage payments even if your financial situation would allow you to continue doing so. Although this approach may help you safeguard your finances, it will not be an easy or quick process. What you are actually doing is allowing your hose to be repossessed and then it needs to be sold by the bank.
Don’t Be Afraid to Accept a Cash Offer
Many times, whoever offers you cash for your home is not interested in the color of your walls or whether you have wood flooring or carpeting. They are interested in your home’s potential for a quick profit by making a flip. If you are really desperate to sell your home, a cash home buyer may be your best choice.
You may receive a little less than the home is worth but will save yourself the hassle of making your home look presentable and your broker’s commission. This way, you can get on with your project of relocating or using the money for whatever you needed it.