When you’re trying to sell your house fast, you’re probably working within a specific time frame for a reason. For example, you may be unable to make payments on a home for much longer. Therefore, it would make sense that you’d like to sell it as soon as possible to avoid foreclosure or other issues that could create long-term chaos for your credit history. Perhaps you need to sell a home for personal reasons, like a divorce. Selling a house you used to share with your partner will give you less for you and your ex to fight over, so it makes sense that you want the house sold quickly. Some people simply need to sell unwanted properties after they’ve inherited them and have no use for them.
But at times, you may need to consider a less traditional route than the typical sales process. We often enter that process thinking that the best, and perhaps only, way to sell a home is working through a real estate agent and finding a buyer who needs a mortgage. But that’s not the only way to sell a house. There are many different ways to sell property. You could sell it yourself using a for sale by owner process and work with cash for homes buyers. Let’s look into some of the signs that you may need to consider working outside the traditional home selling process.
1. It’s Taking Longer Than Expected
The amount of time that it should realistically take to sell property does depend on a number of different factors, including what kind of property it is, where it’s located, and the current market in the area. If an area is a buyer’s market, in which there are lots of properties available, it may be harder for you to sell your property quickly than it would be if it was a seller’s market, in which fewer properties are being sold. But on average, it takes about six to 12 months to sell property in most markets, give or take a few weeks. If it’s taking longer than that range to sell a house, you may want to consider alternate means.
2. Your Realtor Isn’t Prioritizing The Sale
Selling a home without a traditional real estate agent can be intimidating at first, but with the right research, you can be more than capable of handling the sale on your own. There are benefits to selling your home in the for sale by owner process. For one thing, you won’t have to give your realtor commission, which would cut even more out of the sale price on top of closing costs. But for another, you won’t have to worry about whether or not your realtor is prioritizing your sale. Some realtors are simply better than others at balancing their portfolios and some have more of a knack for selling property. But in general, it is possible that some realtors don’t prioritize certain properties over others, perhaps because they stand to make more commission on some properties compared to others. You need to pay attention to the kind of effort your realtor is putting into selling your home — and if they aren’t doing enough, change strategies.
3. Buyers Are Falling Through
Again, we often picture selling a house in a traditional sense, with buyers securing mortgages and then moving forward with closing. But even if a buyer wants your home, that doesn’t they’ll be able to get it. Before you can sell property, the buyer must be approved for a mortgage in the traditional home loan process. But since the financial crisis of 2008, it’s been hard for buyers to secure home loans. Many are rejected and fall through. If this happens to you, consider moving to look for cash buyers.
There are different means through which you can sell a house. But you should make a decision to do so sooner rather than later so that you don’t waste time on methods that won’t work. If any of the above scenarios sound familiar — or you simply don’t want to take a chance on listing a property the traditional way when you’re dealing with financial strain, we’re here to help. Contact us today for additional information or to obtain a no-obligation offer.