5/7/11

The Best Methods to Sell a Home Fast

    • Sell your house fast with special incentives. Jupiterimages/Comstock/Getty Images

      Time is money in real estate. The clock starts ticking from the moment you put your home on the market. Each month that passes without a sale means another mortgage payment, another month of property tax and the potential for something to go wrong. Fortunately, there are several methods that will help you sell your home fast, even if you live in a tough market. And when all else fails, businesses that specialize in last-minute rescues give you an additional option.

    Hire an Agent

    • Real estate agents have the resources you need to sell your home fast. Your agent's ability to list a home on the Multiple Listing Service (MLS), where all member agents in your market will see it, is important. Instead of just one agent working to sell your home, you'll have hundreds, or even thousands, of agents able to show your home to potential buyers. Agents also target their marketing and screen potential buyers, so you'll be able to concentrate your time and effort on the prospects most likely to purchase your home.

    Offer A Great Deal

    • A fast sale depends on a great price, preferably one that's below market value. How much below market value depends on your market. If yours is robust, 10 percent below might give you a solid edge. In a challenging market saturated with foreclosures and short sales, you'll need to keep the price as low as possible. Add value by making sure your home is in top shape. Seller concessions like a home warranty, title insurance or permission for the buyer to finance closing costs are other ways to make your home stand out in a sea of low-priced alternatives.

    Inspection and Appraisal

    • An appraisal tells the buyer how much your home is worth. The inspection proves the house is in good repair. Your eventual buyer will order her own inspection and her lender will order its own appraisal. However, by doing your own before listing your home, you can use them as marketing tools and eliminate a good deal of the uncertainty that's inherent in the typical real estate transaction. These will differentiate your home from the vast majority of homes on the market.

    Offer Owner Financing

    • If you need to sell fast but don't need the whole purchase price up front, consider financing the purchase for your buyer. Whether you finance the entire sale or just down payment money---assuming the buyer's mortgage loan allows that---the very nature of this sort of creative financing puts your home within reach of more buyers. Know that owner financing is risky. Work with an attorney to structure the loan in a way that minimizes your risk and reduces the likelihood that your buyer will default.

    "We Buy Houses!"

    • As an absolute last resort, sell your home to a company that specializes in the purchase of distressed properties. These companies are likely to offer well under market value. As a result, they won't give you results you can't achieve on your own just by selling your house for a ridiculously low price. But if you're out of both options and out of time, this could save you from having to walk away with nothing.

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