If you tried to sell your home six months ago, it would have sold in a month. The Federal Reserve reported that the average time a home spends on the market is about 50 days now.
Times changed quickly in the real estate market. It’s bad news if you need to put your home on the market and hope for a quick sale.
There are things you can do to speed up the process. Keep reading to learn how to negotiate a fast house sale.
Counter the Initial Offer
As much as you need to sell your home fast, it might not always make sense to accept the first offer. There are people who assume that certain circumstances like divorces and estate sales mean that you’re likely to accept less for the property.
Don’t accept a lowball offer. Counter the initial offer and put an expiration date on it. That gives the buyer the incentive to reassess their offer immediately and return with a better offer.
Hold an Open House
An open house is a great way to generate interest in your home. It’s often the starting point of a bidding war if your property is staged and prepped.
If you have multiple people in the home at the same time, they might make an offer on the spot to secure the deal.
Another buyer might see that and try to outbid the first offer.
A bidding war ensues and you get to choose the highest and best offer for the home right away.
Sell for Cash
Does it make sense to sell your house for cash? If you need a quick turnaround, it does.
According to this article from sellyourmdhousenow.com, you can sell your house for cash without the hassle of prepping the home, negotiating the contract, and waiting for the loan to close.
You can close on a home for cash within a couple of weeks, rather than a couple of months.
If you do go this route, you’ll need to do your homework to know what a fair market value price is for the home. You’ll need to consider the speed of the sale, as well.
Offer to Pay Closing Costs
A great incentive for buyers to put down an offer on the home is if you decide to pay closing costs.
Closing costs amount to 3% to 5% of the purchase price of the home. It might seem like a lot to take on, but it gives buyers financial breathing space.
They don’t have to come up with the cash to close, along with the down payment, moving expenses, and other upfront fees.
You’ll be able to increase your home price a little and get a quick property sale.
Steps for a Fast House Sale
There are times when you need a fast house sale. If you’re in a position where you just can’t wait months to sell, follow these steps.
You’ll be able to sell your home fast and get a great offer. Head over to the home page of the blog for more great content today!