Selling Your House Quickly in Order to Move for Work
Even though this period is exciting in many ways, selling a home in order to relocate for work can, regrettably, dull that excitement. It’s a difficult task, to be sure, especially if you have to sell a home that has been damaged by water, has an outdated electrical system that needs to be replaced, or has unsightly paint that is peeling and chipping. Whether you decide to make repairs or not, maintenance issues can hinder a sale. Since the majority of traditional buyers prefer a move-in-ready home, your property may remain on the market for some time while you look for the ideal buyer. Of course, renovations require a lot of time and additional funds that you might not have.
You might be tempted to put off selling the house altogether because moving can be difficult. You definitely wouldn’t be alone. Some homeowners choose to first rent out their property. However, a number of additional issues that come with these choices typically cause them to second-guess their choice.
For instance:
- Finding a reliable renter takes as much time as finding the ideal buyer to take over living in the home.
- You will still be liable for all repairs, and since there are tenants living there, you are unable to legally postpone the work.
- It will be a major hassle and an expensive use of your time and resources to simply travel back and forth to handle any issues.
- Your expenses will only increase if you need to evict the tenant down the road, especially if there is property damage or you need to hire legal counsel. An eviction will undoubtedly ruin your relationship with anyone you’ve rented to, especially if they’ve been late on payments due to a serious illness, divorce, or loss of employment.
- Selling the home is really your best option because no one wants to carry two mortgages.. How then can you make sure that the sale of your home proceeds quickly without causing yourself any more stress than necessary?
Consider one of these strategies:
For your Home, Look for a Short Sale
The majority of homeowners who aren’t having financial problems don’t frequently believe that trying to negotiate a short sale is actually an option. When deciding between short sales and foreclosure, they might know that homeowners should always choose short sales first. However, asking the bank for permission doesn’t always cross one’s mind when payments are on time and the house is in excellent condition.
Of course, the fact that your house is in good condition—if it even is—means that a short sale might be successful, especially if the amount still owed exceeds what the house is currently worth. You’ll also get a lot of interested buyers who are more than willing to compete on their own terms because you’re selling the house for less than it’s worth. If you can find one that closes quickly and pays what the bank approves, you might advance more quickly than you anticipated.
However, the short sale process is hard for sellers, and it doesn’t always work out well for a homeowner. Some lenders take weeks or even months to approve a loan, and they may not always do so at the amount your buyer has requested. So, if the buyer backs out, which they frequently do, you’ll have to start the home sale process over from scratch.
Whether or not you follow their advice, a great advisor will include an offer to buy your house and charge you no fees.
Request a Quick, As-Is Cash Close
You still have the choice to list your house on the open market and request a quick, as-is, all-cash close. Since they can buy a home without using conventional loans, real estate investors are frequently the ones to show interest in the deal. A trustworthy investor will make sure that the deal is good for both of you.
They shouldn’t just make you a fair cash offer on your house, though. They should also ask you to identify the items you want to keep and then let you take care of getting rid of the rest. Therefore, you can avoid not only the hassle of making any repairs but also the need to pack up old items that can be donated and haul away any trash.
Unfortunately, finding the ideal buyer can still take some time. The average time it takes to close on a home is 30 days. It might take even longer if your local market is dropping. If you’re selling during the winter or an economic downturn, when home purchases generally slow down, you should also allow more time. Unless your cash buyer is able to purchase your home without seeing it, you will still need to hold showings and allow home inspections.
Speak with a Reputable Real Estate Advisor
Yet another issue arises when choosing which of these options is best for you. Making a well-informed decision quickly might not be possible given how many moving parts you have in your life already. It is impossible to know whether there are other options that are better for your particular circumstance without knowing all the specifics.
A good advisor will not only help you sell your home as quickly as possible, but they will also show you how to get the most money out of the deal.
Working with a trustworthy real estate advisor in this situation is essential. Even though it may seem like a cost you can’t bear, think about the time and effort you’ll save by getting actual help. A good advisor will also show you how to get the most money from the sale of your home and help you do it as quickly as possible.
Whether or not you follow their advice, a great advisor will offer to buy your house along with their advice and will not charge you any fees.
It’s Time to Sell Directly When Change Happens Quickly.
When you work with a real estate agent, they can help you figure out the best way to sell your house quickly. Yes, they are all-cash, as-is buyers who can buy your house from you in as little as seven days. They can even hire movers to assist you with your transition.
Finding solutions for sellers that offer the quickest, simplest, and fairest return is their top priority, though. So, they’ll start by giving you a document that lists all of your costs and any possible profits. If you don’t mind taking the chance that it will be a hassle, short-selling your home might end up being your best option if your job requires relocation. If it seems like you’ll make a lot of money from the sale, they might even advise making repairs and putting your house on the market.
However, the best option you will almost always have if you want to sell quickly is to sell to an investor.
