3 ways to sell your house fast | Sell to a cash buyer | Top cash buyer companies | Sell to an iBuyer | Top iBuyers | List with a top local agent | Tips from realtors | FAQs
Depending on the time of year, it takes an average of 31โ62 days to complete a home sale. But what if that’s not fast enough?
For example, what if you’re behind on your mortgage and need a quick home sale to avoid foreclosure? Or what if a divorce decree requires you to sell your home by a specific deadline?
From inheriting an unwanted property, to moving for a new job, to wanting to avoid the home selling process altogether, there are lots of reasons that the typical timeline might not work for a seller.
Fortunately, there are ways to speed up the home-selling process and get your money faster.
Read on to learn more about the various ways to sell fast, or start getting offers for your home ASAP by signing up for Clever Offers. You’ll be able to compare fair cash offers from local home buying companies in your area and get an accurate home valuation from a local agent so you know what your home is really worth. Get fair cash offers today!
3 ways to sell your house fast
If you need to sell your home quickly, your options include:
To find your ideal strategy, consider your priorities and how much money you’re willing to sacrifice for speed.
A “We Buy Houses” company could make a cash offer and potentially close on your home in under 10 days, but you’d probably only get paid about 50โ85% of the property’s worth.
For a distressed property that has little chance of success on the open market, selling for pennies on the dollar may be the best option. However, in most instances, you’ll want to explore other avenues.
So before you start dialing up home flippers, we recommend talking to an experienced real estate agent who really knows the local market. A good agent will offer an informed opinion of your best- and worst-case scenario factoring in your timeline, property condition, and the current state of the market.
ยป JUMP: What to look for in an agent
This guide walks you through the pros and cons of different options for selling a house fast and offers real-world advice from realtors who’ve helped their clients get out of sticky situations to sell in record time.
Option 1: Sell your home to a cash buyer
Criteria | Value |
---|---|
How quickly can you get an offer? | 3โ7 days |
Average closing time | 1โ3 weeks, often flexible |
% of market value paid | 50โ85% |
Fees | None |
Who it's best for | Homeowners with hard-to-sell properties, who need immediate cash |
The catch | You'll be offered significantly less than market value |
The biggest bottleneck in a traditional home closing is often the mortgage process. It can take weeks for lenders to order and review a home appraisal, underwrite a mortgage application, and prepare the funding and closing documents.
By contrast, offers from all-cash buyers aren’t conditioned on securing a mortgage, so they can often close in less than two weeks. Just keep in mind that the speed of a cash sale usually comes at a cost.
ยป READ: Are “We Buy Houses” Companies a Ripoff?
Most cash buyers are investors looking to resell the property quickly. So they need a substantial discount from the fair market value (15โ50%) for the deal to make sense. In exchange for this discount, the buyer usually waives the right to contingencies, inspections, walk-throughs, appraisals, repairs, or title insurance.
In fact, thatโs the major advantage of selling with a cash buyer โ a house in poor condition can be a real sticking point for conventional home buyers but a seasoned real estate investor can look past a property’s faults to locate the opportunity.
How does selling to a cash buyer work?
Cash buyers generally fall into two categories:
Option | Description |
---|---|
"We Buy Houses" companies | Companies (rather than individuals) that pay cash for houses |
Real estate investors | Landlords and house flippers who purchase properties as investments |
You can usually request an offer from a “We Buy Houses” company by doing a quick Google search and submitting your home’s information online or over the phone.
However, tapping into the broader investor community will often require some marketing. Therefore, you might want to enlist the help of an agent who is familiar with how to market to local and national investors and may even have an investor network in their database.
Once you’ve provided a cash buyer with basic property details, the process will usually go something like this:
- Receive a preliminary offer. In some cases, a cash buyer can turn around an offer in 24โ48 hours.
- Have your home inspected. The buyer will send a third-party inspector or company representative to your house to verify its condition.
- Get a firm offer. Following the inspection, you’ll get an adjusted offer that reflects the amount of work needed on the home.
- Review and sign the contract. Cash buyersโ offers are usually non-negotiable. Your agent (or their attorney) can make sure a contract is fair and contains no surprises.
- Close the deal. The cash buy will open an escrow account and verify the title is clean. In some cases, like if there is a lien on the property, the investors will help you sort through the steps of getting the lien cleared.
- Receive payment. Payment typically comes within a few weeks, occasionally even the same day.
Top cash buyer companies
Cash buyers tend to be individual investors or independently owned franchises that operate under a national brand. As such, service levels and trustworthiness vary greatly among providers.
We suggest researching multiple cash buyers up front or asking an agent to share their recommendations. As a starting point, below are some of the companies with the largest operating footprints in the U.S.
National Coverage
- Offer in 24-48 hours
- Close in 3 weeks
- No closing costs
We Buy Ugly Houses is a national brand that’s been in the business for over 20 years, so the business’s reputation and processes for buying homes are well established. However, because We Buy Ugly Houses operates on a franchise model, the quality of the service that you receive could vary depending on your location.
Home sellers who choose to sell to We Buy Ugly Houses can expect to get far less than fair market value for their property, but the company can close in as little as three weeks.
Pros
- Get an offer in 24 to 48 hours
- Close in as little as three weeks
- No need to prep home for listing or worry about repairs
Cons
- Pays less than what sellers could net on the open market
- Quality of service varies between franchises
We Buy Ugly Houses has over 800 franchises across 46 states.
Fastest closing
- Offer in 24-48 hours
- Close in 7 days
- No closing costs
We Buy Houses has numerous positive reviews from customers, and the brand carefully vets real estate investors who want to obtain a license. They’re also able to close in just seven days, which is faster than most cash buyer companies.
Although We Buy Houses investors won’t pay what you’d get on the open market, working with one is more likely to be successful than if you were to try and find a local real estate investor on your own.
Pros
- Get an offer in 24 to 48 hours.
- Carefully vetted real estate investors.
- Close in just seven days.
Cons
- Little to no room for negotiation once an offer has been made.
- Investors have some freedom to price homes in a way that they see fit, so offers may be better in some regions than others.
- Pays less than fair market value for homes.
We Buy Houses has over 2,700 offices across 49 states.
Investor Marketplace
- Compare cash offers
- Designed for distressed properties
- Fast closing with no service fees
If youโre looking for a cash offer from a real estate investor, Sundae offers a unique marketplace where pre-vetted investors can bid on your property. Compared to other cash buyer companies, Sundaeโs model creates competition that may lead to a better sale price โย though cash offers will almost always be lower than offers from the open market.
Pros
- Work with pre-vetted investors.ย You donโt have to worry about whether a random cash buyer has the funds to purchase your home โ before an investor joins the marketplace, Sundae vets their credentials.
- Receive multiple offers.ย Sundaeโs marketplace allows multiple investors to bid on your property. According to Sundae, the average seller receives around 10 bids, with a price range averaging around $71,000 between the lowest and highest offers.
- Skip repairs.ย Since Sundaeโs marketplace is built for investors who are prepared to buy homes in as is condition, you donโt have to worry about making any changes to your home or cleaning it out.
- Get a cash advance.ย Sundae provides a $10,000 cash advance to sellers to help with any expenses before or during closing.
Cons
- Offers may be less than fair market value.ย The offers you receive through Sundae will likely be less than the fair market value of your home (which is typical across most cash buyer companies).
- Eligible locations are limited.ย You can only use Sundaeโs services in several California cities, as well as the Tampa and Atlanta metro areas.
Sundae mainly operates in California โ specifically in Los Angeles, Orange, San Bernardino, Riverside, and San Diego counties, as well as the Sacramento metropolitan area.
The company is continuing to expand into new locations, most recently the Tampa, FL, and Atlanta, GA, metro areas.
Flexible closing
- Fast closing times
- Limited regional availability
- Free moving service
MarketPro might be an option for home sellers who need to sell fast and don’t mind leaving some money on the table, but they only operate in a handful of states. Furthermore, the way that MarketPro calculates their offer is inherently misleading, as they claim they just deduct 10% from the price you’d get on the open market in order to save you time and help you avoid selling costs. In reality, they deduct 10% from what they estimate your net profit would be, which makes their service seem like a better deal than it actually is.
Pros
- Free moving service
- No need to make repairs before selling
- Close in as little as seven days
Cons
- Only available in a handful of states
- They pay 10% less than what they estimate you’d netย after all of your costs selling on the open market
MarketPro HomeBuyers operates in Virginia, Pennsylvania, Maryland, and Washington, D.C.
ยป MORE: Companies That Buy Houses for Cash in 2022
Other ways to sell your house fast for cash
Local investors and โWe Buy Housesโ companies arenโt your only options for cash sales. In fact, nearly a third of homes (30.3%) sold in the U.S. in 2021 were paid for in cash.
Option | โ Pros | โ๏ธ Cons |
---|---|---|
iBuyer | iBuyers provide instant, all-cash offers and can close in under two weeks | Only available in certain markets; strict criteria for purchasing homes |
Open market | Top agents can work multiple angles to ensure you get the most possible value for your home โ and fast | Requires some prep work; not guaranteed to sell on your timeline |
If your home doesnโt need too much fixing up, you could consider selling to an iBuyer. These companies purchase homes at a high volume to resell them for a quick, modest profit. Because the homes they buy tend to be in better condition, iBuyers offer much closer to fair market value.
However, many traditional buyers are also able to make cash offers โ either by selling a previous home, liquidating capital from other investments, or working with a company that offers upfront underwriting enabling buyers to make a cash-backed offer.
๐ค Is cash the only way to close quickly?
A growing number of home shoppers are getting pre-underwritten by their lenders before submitting offers. These buyers are essentially approved for the loan going into the purchase.
Once everything checks out with the house, the deal can close in as little as 14โ17 days (only a week or so behind all-cash offers).
If you need a fast house sale, don’t discount working with an agent to put your home on the market. Even if your house isn’t in the greatest condition, the open market offers the greatest chance of reaching multiple qualified buyers.
Option 2: Sell to an iBuyer
Criteria | Value |
---|---|
How quickly can you get an offer? | 24โ48 hours |
Average closing time | As little as 7 days, flexible |
% of market value paid | 98โ99% |
Fees | 5โ13% |
Who it's best for | Homeowners who'd rather avoid the home selling process and have a fairly typical home in major metro market |
The catch | Strict purchase criteria; only available in certain markets |
iBuyers are large, venture-backed companies that purchase homes for cash and resell them on the open market. If you decide an iBuyer is right for you, we recommend getting offers from several companies so you can compare.
In general, iBuyers offer a higher percentage of fair market value than home flippers and can often close in as little as seven days after the offer is accepted. There are no real estate agent commissions, and you can avoid the hassle and uncertainty of a traditional home sale.
With an iBuyer, there’s no need to prep your home or make it available for showings โ which can be great if you own an out-of-town property or have pets or small children that make it difficult to vacate at a moment’s notice.
However, iBuyers charge service fees of 5% or more, plus deductions for repairs, which could result in you walking away with less than if you sold with an agent on the open market โ even after paying a full commission.
ยป LEARN: What Is an iBuyer?
Apart from the fees, iBuyers have strict criteria for the homes they purchase โ including the neighborhood, age, home condition, and property type. They’re also only available in select markets.
Opendoor, for example, typically only buys single-family homes and condos in the $100,000 to $600,000 range (though it can be higher in certain markets). Homes must be built after 1930, on lots not exceeding an acre, and located within one of 45 major markets where they operate.
Other iBuyers have similar restrictions, so they’re not an option for everyone. However, for those whose homes meet the requirements, an iBuyer might be the best compromise of speed and selling price.
We recommend starting by getting an offer from Offerpad, which has great customer reviews and flexible closing dates.
How does selling to an iBuyer work?
Selling to an iBuyer is pretty straightforward:
- Request an offer. After submitting basic information about your homeโs age, size, and features online, an iBuyer provides an initial, no-obligation cash offer within 24โ48 hours.
- Undergo a home inspection. If you accept the initial offer, the iBuyer will schedule an in-person inspection to assess its condition and identify needed repairs.
- Review the final offer. After the inspection, you’ll receive a final, adjusted cash offer that accounts for any repairs the iBuyer will have to make before reselling the home. If you’re happy with the revised price, you’ll sign the purchase agreement and choose your closing date.
- Close the deal. iBuyers can prepare the necessary paperwork and close a sale in as little as two weeks. You’ll receive your funds within days of closing โ sometimes on the same day.
Top iBuyers
Fast closing
- 5% service fee
- Close in just 8 days
- Great customer service
Offerpad can provide home sellers with a fast cash offer and quick closing (as little as eight days!). We noticed that most recent Offerpad reviews are positive, with home sellers noting that Offerpad reps were friendly and helpful throughout the selling process.
Pros
- Close in just eight days
- No need to repair or prep home
- Extended stay option for home sellers
Cons
- Some customers report high repair costs that reduced their final offer
- Free local moves are only available within a 50-mile radius
Offerpad is available in 25 metro areas across AL, AZ, CA, CO, FL, GA, IN, KS, MO, NV, NC, OH, SC, TN, TX.
Customer reviews of Offerpad are mostly positive, with an average rate of 3.7 across 319 reviews.
Best tech
- 5% service fee
- Available in 40+ cities
- Close in 14 days
In comparison to other iBuyers, Opendoor offers the best value because the fees are capped at 5% and they pay close to fair market value for homes. Sellers should be aware that Opendoor deducts repair costs from their final offer, and the company no longer allows home sellers to handle repairs on their own.
Pros
- Free, no-obligation offer
- Close in as little as 14 days, or longer if you need it
- Available in 47 markets and continuing to expand
Cons
- No control over repair costs
- Strict criteria for purchasing homes (no structural damage, no homes pre-1930, etc.)
Opendoor is currently available in 47 major markets in AL, AZ, CA, CO, FL, GA, ID, IN, MN, MO, NV, NJ, NY, NC, OH, OK, OR, SC, TN, TX, UT, VA.
Customer reviews of Opendoor are mostly positive, with an average rating of
4.3 across 2,733 reviews.
As-is iBuyer
- Fees from 5-13%
- Close in 10 days
- Buys vacant or owner-occupied houses
Redfin Now can provide home sellers in select markets with a fast, predictable sale. Unlike most iBuyers, RedfinNow even buys vacant homes, which could be good news for sellers in difficult situations. However, the high service fees and additional closing costs could be expensive.
Pros
- Purchases homes as is, with broder eligibilty criteria than most iBuyers
- Flexible closing window of 10-90 days
Cons
- Fees can be as high as 13%
- No home trade-in incentive
- No late checkout option
RedfinNow is available in metro areas across .
Because Redfin Now is the smallest iBuyer, reviews of the service aren’t widely available. However, across 2,733 reviews the company has an average rating ofm4.3 out of 5.
ยป MORE: Top 3 iBuyer Companies in 2022
Also consider: Buy-before-you-sell services
If you need to sell your house fast in order to close on a new home, home trade-in companies like Knock and Orchard offer a convenient solution: buy before you sell.
Unlike iBuyers, which purchase properties outright to resell them for a profit, home trade-in companies don’t actually aim to buy your home. Instead, they front you the money to make an upfront cash offer on a new home, then help you list and sell your old home on the open market once you move.
While the overall process takes longer than simply selling to an iBuyer, you don’t need to wait until your home sells to move. Instead, you can move into your new house right away and let an agent take care of prepping, marketing, showing, and selling your old one.
In addition to being able to make competitive cash offers based on the equity you’ve built up in your current home, you’ll probably also get a lot more money when you sell โ especially considering that home trade-in services usually provide the funds for repairs and cosmetic improvements before you list.
While iBuyer Opendoor has begun offering trade-in services, Knock and Orchard are our two top picks for homeowners interested in exploring the option to buy before you sell.
Trade In
- 1.25% fee to trade your home
- Flexible timeline up to 6 months
- $25,000 cash advance
Knock’s business model is not like typical iBuyers since it’s actually a home trade-in service. For home sellers who are struggling with timing the sale of the old home in order to purchase a new one, Knock can make the situation easier by giving you the ability to make a non-contingent offer. However, you’ll have to pay a 1.25% fee for this service.
Pros
- Make a non-contingent offer to buy your next home
- $25,000 interest-free cash advance
- Avoid paying two mortgages at once
Cons
- Doesn’t work with owners of distressed properties
- Old mortgage must be repaid after closing
Knock is currently available in 70 metro areas across 15 states: AZ, CA, CO, FL, GA, IL, MD, MI, MN, NC, OR, SC, TN, TX, WA.
Trade In
- 6% service fee
- Backup offer from Orchard
- Full listing service
Orchard makes it easier to finance the purchase of a new home before you sell your old one, but they’ll only purchase their home directly from you if it doesn’t sell on the open market after 30 days. If you want the freedom to choose your own agent, another trade-in service may be a better option.
Pros
- Leverage the equity in your current home to buy a new home
- Avoid paying two mortgages at once
- Sell directly to Orchard if you can’t sell on the open market
Cons
- Have to work with Orchard’s agents
- Only available in 11 metros
- High fees โ 6% service fee plus closing costs and repayment or old mortgage
Orchard is currently available to home buyers and sellers in 11 metro areas across 7 states: CO, GA, MD, NC, OR, TX, VA.
When you need to sell fast, finding an agent with a proven track record of helping people through situations like yours can make a huge difference in the outcome.
ยป JUMP: Back to top
Option 3: Speed up your home sale with a top agent
Criteria | Value |
---|---|
How quickly can you get an offer? | Varies by market and time of year |
Average closing time | 30โ45 days (can be faster depending on buyer financing) |
% of market value paid | 100%+ |
Fees | 5โ6% commission, split between listing and buyer's agents |
Who it's best for | Homeowners who want guidance and support through the selling process |
The catch | A lot hinges on market conditions, so there's no guarantee of selling on your exact timeline |
If you need to sell fast but don’t want to give away your home value to do it, consider listing with a top local agent.
In addition to doing a lot of the heavy lifting around pricing, marketing, and negotiations, agents sell homes for more money. In 2021, homes sold with an agent went for a median sale price of $318,000, while homes listed by the owner sold for a median of $260,000.
Although a real estate agent canโt predict exactly when your home will sell, the most experienced know how to price and market homes to attract offers quickly.
Agents can help you to sell your home faster by:
- Providing an estimate of its fair market value based on comparable sales
- Helping you set a competitive asking price
- Recommending what repairs and upgrades are needed, if any
- Staging your home to showcase its potential
- Listing your home on the MLS (where it has the greatest chance of being seen)
- Sharing your listing with local buyers’ agents and investors in their network
- Using print, radio and other market tools to attract attention locally and nationally
- Negotiating with prospective buyers to get you the best possible offer
Most home sellers pay their agent a 5โ6% listing commission, about half of which goes to the buyer’s agent โ but you can secure a top real estate agent for much less.
Our friends at Clever Real Estate can connect you to top-performing agents across the U.S. who offer full-service representation for pre-negotiated listings fees of just 1% or $3,000. Clever’s free agent matching service allows you to screen and interview as many agents as you like until you find the right fit for your needs.
With Clever, sellers save an average of $9,000 on real estate commissions while getting the highest standards of service from a top-performing agent in their area.
What to look for in an agent
There are an estimated 3 million real estate agents in the U.S., offering vastly different levels of experience, expertise, and professionalism. To move a home fast, you’ll want a full-service provider with a reputation as a top selling agent in your area.
Here’s what to look for:
Criteria | Value |
---|---|
๐ฏ Deep local market knowledge | An agent with local expertise will have a good understanding of what's selling in the area and know how to market your home to the right buyers. Ask agents to pull up their transaction history and highlight recent sales in your area. |
๐ High level of sales activity | For a lot of agents, real estate is a part-time gig. When scoping out realtors, look for a minimum of 10 transactions per year โ an indicator that they're active, successful, and likely to work in real estate full time. |
โกShorter-than-average days on market | Zillow data shows the average number of days a home stays on the market before it goes under contract across major U.S. metros. If your realtor's past listings show fewer days on market, chances are they know how to price and market a home to quickly get it sold. |
๐ Familiarity with your property type and price range | Only compare agents who are familiar with the type and caliber of property you're trying to sell. Selling a cookie-cutter home in a new development is a far cry from selling a custom-built estate or 30-acre farm. |
Apart from a strong history of recent, comparable sales in your area, you want to find an agent with a hustle mentality โ someone who comes in with a clear plan and goes beyond the MLS to market your home.
ยป MORE: How to Choose a Realtor: Expert Secrets
๐ Realtors’ tips for how to sell your house fast
To write this piece, we asked more than a dozen real estate agents to share their winning strategies for helping clients sell homes fast. Here’s some of their best advice.
๐ Get a home inspection before you list
Failed inspections are among the top reasons that home sales fall through. To counter this risk, Baron Christopher Hanson of Coldwell Banker suggests spending a few hundred dollars getting an owner’s inspection and making the information readily available to buyers and their realtors.
Chances are, a home buyer’s inspection will reveal the same flaws. So, says Baron, “instead of keeping your property’s secrets under wraps, be fully upfront and transparent about your home’s physical condition.” That way, you can price the home “as is” and avoid the back-and-forth negotiations that can cost precious time, or worse, result in the buyer backing out of the sale. Know what’s worth fixing (and what’s not)
“If a home is in poor shape, it may be better to price it based on the condition rather than sinking time and money into costly repairs,” suggests Jennifer Murtland, a real estate agent who leads the Synergi Team in Cincinnati, OH.
“Sometimes,” says Jennifer, “fresh paint and new carpet have the opposite effect of what’s intended โ making everything else look old by contrast. As the seller, you could end up paying for repairs that wonโt add any additional value.”
If your house is outdated or in need of major repairs, Jennifer advises getting an expert opinion on the scope of work needed, as well as the costs and potential return on your investment.
“Some sellers will try to complete only a few of the many projects that are needed,” explains Jennifer. “They end up throwing good money out, because it makes the rest of the house look worse.”
In the end, skipping repairs and adjusting the price lower could actually be better for your bottom line.
๐งน Focus your home prep on deep cleaning, decluttering, and painting
Realtor Cheryl Cardamon recommends putting your effort into high-impact touch-ups as opposed to major renovations or upgrades.
She recalls working with a seller that was relocating and needed to move quickly to secure their new home in an aggressive real estate market. The family had three small children and a dog, so there was lots to do!
With the compressed timeline, there were no home stagers who could help on such short notice. However, she gathered her team and went to work making small repairs, painting the interior, and giving the home a top-to-bottom scrub down, including walls, carpets, and windows.
Even without professional staging, the home looked move-in ready and the family accepted a solid offer on their home after just four days on the market.
“Buyers want to see clean and ready-to-go homes,” said Cheryl. “Sellers should focus on cleaning, decluttering, fixing minor repairs, and freshening up the interior with paint.”
๐ Inspire interest before the home goes on the market
Sue LaGree, a licensed RE/MAX agent based in Clearwater, FL, recalls working with an older client whose health suddenly declined. Her family helped her find an assisted living facility, but she needed the proceeds from the sale of her home in order to afford it.
Since time was of the essence, Sue immediately got to work getting the house ready for showings, including taking video to go with the listing. She then focused on getting the word out using a combination of social media, realtor referral sites, personal networking, and the MLS.
While completing the prep work, Sue reached out to dozens of buyers she had been actively working with, plus more than 100 agents in her office, to tell them that the home was coming soon. She had multiple offers within the first few days of listing โ including some in cash.
To get a home sold quickly, suggests Sue, “use a real estate agent from a large, reputable firm. They have access to thousands of more realtors, web pages, and publicity tools to get the home sold quickly and for the best price.”
๐ฐ Think of your list price as a marketing tool
“With the chaotic state of the housing market, many homeowners are preparing to list their homes at premium prices,” says Nicky Taveras of DNT Home Buyers in New Jersey. “While almost all properties are being sold above asking price, I would caution against inflating the price too much. The reason is that you want to attract potential homebuyers with a competitive asking price.”
Realtor Jennifer Murtland agrees. “Many homeowners make the mistake of pricing their home too high, thinking that they’ll be able to negotiate down to a lower price later,” says Jennifer. “However, this usually just results in their home sitting on the market for longer than it needs to. When this happens the buyers feel like something is wrong with the house.”
Jennifer recommends pricing a home at or slightly below market value to generate interest, encourage multiple offers, and get buyers through the door. “This may seem like a risky move,” she says, “but it’s often the best way to sell a home fast and for the highest amount.”
๐ Pick the right time to list
John Gluch, a top real estate agent in Scottsdale, AZ, suggests that Thursday is the best day to list a home. “Web traffic on large home listing sites peaks on Thursdays, as buyers begin looking in earnest for homes they might want to see over the weekend. We almost always list homes on Thursdays before noon to capitalize on the mid-afternoon and evening spike in traffic.”
Listing on a Thursday also sets you up for a three-day timeline, enabling you to start showings on Friday, get offers in on Saturday, and execute a purchase contract on Sunday.
๐ Review offers closely
When you’re tight on time, the highest offer might not always be the best. JC Young, who has more than a decade of experience selling real estate in North Texas, suggests looking at a range of factors:
- Option period: the amount of time a buyer has to back out without penalty โ shorter is generally better. Imagine being under contract for a week, only to have to start the process all over again if the buyer gets cold feet!
- Earnest money: the cash deposit a buyer puts down on a house to take it off the market โ a larger deposit is generally better insurance against a sunken deal.
- Contingencies: conditions written into home purchase contracts. They might include a buyer’s right to back out of a contract if they find an issue during an inspection or can’t obtain financing. In some cases, buyers waive contingencies to remove red tape and make their offer stand out.
- Lender reputation: whether they are known and vetted. When reviewing offers with lender financing attached, agents might steer you toward lenders known for getting deals closed quickly and reliably.
- Financing: a buyer who pays cash or is already underwritten by their lender can close within three weeks after signing the purchase agreement โ much faster than the 30โ45 day average.
In multiple offer situations, JC uses a spreadsheet that helps her clients review these factors side-by-side. That way, they can compare apples to apples and see which offer best matches their priorities.
If you need to sell your home fast, you have options
There’s more than one way to sell a home fast โ the best strategy for you depends on your situation. If your home needs too much work to sell quickly through a traditional sale, selling “as is” to a cash buyer may be the best method. Similarly, an iBuyer is good for a quick, guaranteed sale when you have a fairly cookie-cutter home and want to avoid showings and negotiations.
That said, we recommend talking to an agent who can walk you through your options. They’ll be able to provide you with an estimate of your home’s fair market value so you can compare it against various offers. They’ll also be able to advise you on the best strategy for meeting your timeline without sacrificing your bottom line.
No matter which option you choose, you can rest assured that you’re making an informed decision.
FAQs about selling a home fast
What's the fastest way to sell a house?
If speed is your top priority, selling to a company that buys houses for cash (such as a โWe Buy Housesโ company or iBuyer) will get you a near instant offer โ though typically only 50โ85% of fair market value โ and you can close in about a week.
If you don't want to sacrifice a lot of equity, a realtor who knows your local market and has experience with fast sales is your best bet for getting fair market value โ quickly!
How much do you lose selling a house as-is?
Selling your house "as is" to a cash buyer company, you can expect to take a loss of 15โ50%. However, on the open market, you may be able to drive up the sale price by listing below market value and attracting multiple competing offers.
When's the best time to sell a house fast?
Homes sold in spring tend to get offers faster than homes put on the market at other times in the year. However, local market conditions impact how quickly houses sell. If thereโs excess inventory in your market โ that is, if available homes outnumber buyers โ your sale might take longer. Learn how realtors market homes to sell fast at any time of year.
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Are โWe Buy Housesโ Companies a Ripoff? Companies that advertise โwe buy housesโ promise an all-cash offer and fast closing. But is the promise of fast cash too good to be true?
The Top 6 iBuyer Companies to Know: We vetted the top six leading iBuyer companies to help home sellers choose the best fit.
The Best Discount Real Estate Brokers for Every Budget: Using a discount real estate broker is a great way to save money when you sell. But you have to make sure youโre not sacrificing quality and service. Read this guide to learn which companies offer great rates AND stellar service.
How to Sell Your House in 2022: A complete guide to selling a house in 12 steps, to educate you on the home sale process and prepare you for your big sale.
Braden Bills says
I’m trying to get my home sold, but I’m not sure how to go about it. It makes sense that working with someone to sell my home for me could be beneficial! I’ll have to see if I can find a real estate agent to help me out with this.
Gabe Sanders says
Excellent advice. Though, in many parts of the country, all one needs to do is put a home up for sale and there will be numerous offers. (Though, I doubt this market will last much longer.)