3 Tips for Quickly Selling a Residence
Posted: Apr 29, 2016
There are many reasons to vacate a home in an expedient manner. If you’re drowning in debt, unable to afford property taxes or simply tired of paying for costly repairs, it may be in your best interest to part ways with your current residence. Unfortunately for sellers, real estate is currently a buyer’s market. Although new home sales have seen a noticeable increase since the financial collapse of 2008, the housing game isn’t quite what it used to be. As such, homes can be on the market for years before a suitable offer is even put forth. Suffice to say, selling your home in a hurry can be a very tall order.
Of course, this isn’t to say you should throw in the towel and stay in a home you no longer want. Provided you’re willing to make a few concessions, selling your residence in a timely fashion is quite doable. Your house may not sell for the price you had wanted, but compromise is a big part of selling – and buying – homes. The following tips will prove helpful in quickly finding a buyer for your unwanted home.
1. Drop the Price
If your home needs quite a bit of work done, it’s in your best interest to reduce the asking price. If the new owners are expected to tend to any outstanding repairs, it’s only fair that the estimated cost of these jobs be deducted from the price. Aside from experienced flippers, many people are hesitant to invest in homes that need a lot of work. Frankly, this is understandable. Why pay top dollar for a home that needs a small fortune in repairs performed? When working out a reduced price, enlist the aid of licensed contractor. This person will identify all the issues that need addressing and provide you with a detailed estimate of what the new owners can expect to spend fixing them.
2. Contact a Company that Buys Unwanted Homes
If the search for a buyer has proven fruitless, contact a company that specializes in purchasing unwanted homes, like Dallas-based Dfw Sell Fast. Since DFW offers cash payments to all sellers, you can close the deal in as little as one week, thus sidestepping the plethora of bureaucratic red tape you’d encounter during a traditional closing. Additionally, DFW takes care of most closing costs and provides all potential sellers with complimentary home evaluations and price estimates. As an added bonus, you won’t have to worry about paying an exorbitant realtor’s commission. All the money from the sale belongs to you – and you alone.
3. Sell at a Loss
If all else fails, you may need to sell your home at loss. Depending on the state of the structure, as well as the annual cost of utilities and property taxes, simply being rid of the place could be in your best interest. If keeping a home actually stands to lose you more money than selling it at an immediate loss, chances are it’s not worth hanging onto. In this situation, cutting your losses and moving on can prove beneficial to your financial bottom line.
Selling any large item in a hurry can be a tricky proposition – and items don’t come much larger than houses! While unloading a residence in an expedient fashion may be difficult, it’s by no means impossible. If you want to find a buyer for your house posthaste, consider reducing your asking price, contacting a professional home-buying serve or, if need be, selling at a loss.
About the Author: Valerie Belson is a middle school guidance counselor who’s based out of the Dallas-Fort Worth Metroplex. When she and her husband needed to sell their home in a hurry, they contacted DFW SELL FAST, who purchased their home for a very fair price.
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