I think you’ll agree with me when I say:
It is REALLY difficult to sell your house fast, having no idea where to start, or how to get buyers fighting over your house, and get a check in your hand within weeks, not months! So How Do I Sell My House Fast For Cash? — But is it really so difficult?
Well, it turns out it is not at all that difficult when you know how it works. What if I told you that after reading this article you will be in full control selling your house on your terms and close on the day you want?
To answer this very commonly asked question “How Do I Sell My House Fast For Cash?” we should look a bit more closely into the intention, what you really want to accomplish here. You were probably asking: “how do I sell my house fast without being taken advantage of?“, or “How do I sell my OH home fast while still getting a good offer“.
The key terms here are, “how do I sell my home fast“, “how do I sell my house for cash“, and “How do I sell my house fast for cash for a good price“. So, the better question would be…
You’re not going to magically gain the knowledge out of thin air, nor will a buyer offer you a ton of money simply because you suddenly need to sell your house. The infographic above is a 30K foot view on how to get your house sold fast. But to understand it and apply it we need to elaborate a bit on each of the simple steps (described above) that you need to take.
When it comes to selling your house, the first thing people think of is:
“I need to find myself a good hard-working. knowledgeable agent that will sell my house quickly for asking price, or close to it“…
See What You Are Doing?
You are relying on someone else to do the job right! You are not in the position to just sit around and wait for 6, 7, 9 months to get your house sold competitively on the market. The agent you are picking is not as desperate or as eager or determined as you are, to get your house sold quickly, believe me!
Even Worse,
If you found a good agent, do you think your property is the only property they are marketing and working on getting sold? Not likely. If your agent has 3 or 4 properties he/she is actively marketing, you can be assured he/she has a lot of work on their plate. If those 3 other properties are in a lot higher price range, guess which properties will get a higher priority? Remember he/she works on a commission, … based on the sales price!
Bottom Line?
If you are wondering “How do I sell my home fast for cash in OH”, not only do you need to attract a lot of buyers, you need to be sure you will attract buyers that have their finances in place. If you are in a hurry to sell, the last thing you want is drag out the selling process only to find out, at closing, that their finances did not get approved by their lender.
To be sure your home in Ohio will sell fast, eliminate all potential issues that can cause delays. Be honest about the condition of the house because you can expect any buyer to have an inspection done which will take some time to schedule. If the inspection reveals something you were hiding, you can expect a lot more delays, mistrust, or worse, a potential buyer now walking away.
Its important to understand that emotional attachment does not warrant monetary value. Do not confuse “how much the house is worth to you” with “the actual market value of the house”.
Often homeowners decline fair offers, thinking their home is worth a lot more only to realize 6 months later, they would have pocketed more money had they sold it then. This is because now they have paid 6 months worth of holding costs (mortgage payments), taxes, insurance, utilities, maintenance, and lawncare while the property sat on the market. The longer you hold on to the property the less money you will profit when you eventually sell it.
To find the market value of your home, get 3 agents to give you a Comparative Market Analysis. (CMA). If 2 out of the 3 CMA’s match, it is a good indication the analysis was accurate. If all 3 CMA’s vary all over the place, something is wrong! Find more agents.
The lower the price, the faster it will sell. So how do you find the right price?
Price It (Slightly) Below Market Value.
Need to sell fast? Now that you know what the market value of your house in its current condition, you have a solid understanding how much you can list it for without being taken advantage of. Price the house slightly below market value to get noticed by buyers that otherwise would be overwhelmed by all the other houses for sale in your area you are competing with. The challenge is finding the perfect compromise between time it takes to sell and how much below market value you are willing to sell it for.
Be sure you can produce a clean title. Be sure there are no liens (money owed) against the property, you are not behind on taxes and the house is not a complete disaster. If none of this is within your control, be honest and upfront about it from the start. Even in the most dire of circumstances you can get your house sold fast, even if the house is in extremely poor condition. The key to selling fast is open and honest communication!
Selling fast and selling for cash are 2 very relatable concepts. If you need to relocate in a hurry due to a job, need to pay for sudden medical bills, or for whatever reason you may have that demands you to sell your house fast, you want to look for people that can pay cash for houses.
People that do not need approval from banks or their financial institutions or people that already have been approved can move through the transaction of buying your house faster. The problem with pre-approved buyers is that when buyers that want to buy a house that is in less-than-ideal-condition can be met with obstacles from their financial institutions as they will not approve a purchase of houses in less-than-ideal-condition. You would then be forced to make repairs, or find a buyer that is willing to pay for your house (in bad shape) with their own cash, which is a big risk for the buyer. It will be very hard to find a conventional buyer capable of doing that.
Unless of course you are dealing with an investor. We have established that selling through an agent may not be a good idea when your house is not in (near) perfect condition.
Keep in mind that selling fast and selling for the most profit do not mix. Of course, the better shape the house is in (and in better location) the more you can demand for your house. Does this mean that if the house is in poor shape you can’t get a fair offer? Absolutely Not. Now, the big question becomes…
“Should I fix my house before trying to sell it?”. Our answer is a definite “no!” Absolutely not.
In all fairness, we should say “it depends”.
Unless you are going to do a full-blown, quality renovation, it may not be worth spending money to fix the house yourself. Even if you do plan on taking on a full-scale renovation, there are things you have to be aware of. The renovation should be done based on what buyers currently are looking for. Not based on what you think, buyers (or you) like!
Spending $15,000 on a new roof, doesn’t mean you can list the house for $15,000 extra dollars. You do not get (all) that money back when you sell. The amount or “worth” you put into the house doing such fixes depend on the house, location and market trends of your area.
Also, other than the supply and demand factors explained above, your $23,000 custom kitchen renovation simply may not work for a buyer that had their own plans to design the kitchen to their specific needs. Often homeowners attempt to do custom repairs without any knowledge what today’s buyers are looking for, what is trending in today’s market and what budget today’s market allows for kitchens/bathrooms. You may end up spending thousands of dollars for fixes that will have a buyer walk away from your house or an investor to be forced to make an even lower offer to account for all the work it will take to undo your costly “repairs” and redo them the right way.
I can not emphasize this enough.
Do not fall for the temptation of dumping money into repairs to attempt a higher sales price only to get a lower offer or worse, no offers at all! Unless you are an expert on the housing market, don’t just tackle these issues thinking you know better.
Listing with an agent means your house will be inserted into the MLS (Multiple Listing Service) where all other agents (including those that represent conventional buyers) see your listing in hopes they will present them to their buyers. The MLS is very competitive and it will just take too long to get your house sold.
The agent representing you, will try to get the most possible amount for your house. This is because agents work on a commission. The more the house sells for, the more money they will get from you as a commission. This means at a high sales price the house will sit on the market for much longer time competing with all other houses similar to yours. Selling with an agent is by no means fast, unless you price it low. But why would you price your house low and then still be required to pay closing cost, title fees, selling cost, attorney fees and agent commissions?
Selling your house yourself could work, but you now have to do your own research on what buyers are looking for, and make your repairs based on the findings. You still need to pay for marketing, attorney fees, closing costs and holding costs for as long as the property belongs to you. The procedure and legal fees can be overwhelming as you have to deal with contracts and all kinds of legalities to sell your house.
Selling your house to a cash buyer is a good option if you need to sell fast yet still get a fair offer on your house. When an investor buys your house in cash, they will pay off the taxes you owe, take care of any liens (money owed) against the property, and neutralize the foreclosure preceding if you have any started against you.
Selling your house to a cash buyer means it is acknowledged that you sell the house “as is”. You have to make no repairs and the buyer is responsible for the market analysis and thus takes on all the risks involved. It is the cash buyer’s responsibility to inspect the house. Cash buyers can close in record time (often in as little as days after signing a contract if there are no title complications). The process is quick and hassle free.
This is why our answer on top suggests to sell to a cash buyer. If you need to sell fast, it could be argued that it is by far the easiest, and safest way to sell your house while still getting a fair offer based on the condition of your house and market value. But not only is selling to an investor ideal if you want a quick sale.
Consider selling to an investor if you do not want to deal with the hassles of repairs, paying commissions, having people constantly walking through your house nit-picking every dent in your wall, demanding you fix everything for free. Simply put, consider an investor when you want a quick hassle-free. easy sale of your house for a fair price based on condition of the house and market value.
We have a comment box where you can ask us questions you may have. We usually answer within the hour, so we would love to hear from you and answer any questions you may have. You can also find more information here to find out how our house buying process works if you are ready to get your free no-obligation to accept offer right now.
We Buy Houses in Ohio is a company that purchases, renovates and then sells houses at a profit. Offers are made to sellers based on market value and repairs needed. We Buy Houses In Ohio, will do everything possible to bring to the seller our highest and best offer thus allowing the seller the greatest benefit from a rapid cash home sale.
CONTACT:
We Buy Houses In Ohio
(330) 510-1103
[email protected]
