How long does it take to sell a home in various ways?
There are various ways to sell house fast. From getting a real estate agent to do the job to FSBO listing and selling to an investor, you have various options to take your pick from when you need to sell house fast. However, predicting with surety how long it will take to sell a house fast is difficult. It depends on several factors like the house’s location, condition and the price asked. The market condition also determines how fast you can sell a house since homes tend to sell faster in seller’s market than in buyer’s market. It can take anywhere from 2 to 3 months to sell homes. However, in seller’s market, a well priced home could sell within 10 to 21 days.
Let’s see what you can do to sell your house fast:
- Hire a real estate agent: An agent can help you price the house right and get potential buyers through the door to help you get offers fast, thus letting you sell home fast. Though you may be tempted to eliminate the agent’s commission (6% of the sale price), you may find it difficult to sell your house fast, especially if you fix the price more than what the houses in that area usually sell for. Some statistics show that getting almost 20 qualified buyers through the door will let you get at least one offer and a deal can be finalized after you have 2-3 offers. Thus, you can expect to sell your house within 1 to 3 months.
- FSBO: FSBOs are popular for cheap homes and constitute just 9% of homes sales in the US. If you are ready to do some legwork and want to save an agent’s commission, you can list your property together with its photos on different sites online. Though an FSBO gives you more control over price negotiations and you can keep a large amount of the after-sale proceeds, you may not be able to sell home fast if you price it wrong or fail to make your listing attract the right buyers. In such cases, you may have to wait for 6 or even more months to sell your house.
- Find cash house buyers: If getting quick cash is the prime reason you want to sell your house fast, finding cash home buyers is your best bet. If you want to sell house with tenants, or without repairs, such investors will take the property on as-is basis (no repairs or clean outs necessary) by giving you an instant cash offer. Homes with inheritance and probate problems, or foreclosed properties, or those mortgaged can also be sold this way. The entire process takes 1 to 2 days to be completed, making this the best way to sell your house fast.