Sell A Home

The Reasons We Need To Sell Homes Quickly

One word - LIFE.

Life happens. Things come up. And when they do, we have to respond. Sometimes, that means we have to move quickly.

Some of the reasons people need to sell their homes fast include:

Loss of a loved one

Illness in the family

Job transfer

Divorce 

Inheriting an unwanted property

Running into financial problems, i.e., getting behind on payments

Tenant issues (tenant tears a property up, eviction problems, etc)

Code violations from the city

Tax problems

Whatever the reason, when life happens, we sometimes have to make choices that we’d rather not make. And sometimes, that has to do with real estate.  

Going through any of the above scenarios is very stressful in of itself. A divorce? Very stressful. Having to quarterback a job transfer? Very stressful. But any one of those scenarios is that much MORE stressful when you factor selling a home. It can take the stress from a level 8 to a level 10+.  

But even in those circumstances, you have options. Take a moment to review all the ways to sell a home, and the pro’s and con’s of each of those decisions.  

The Options For Selling A Home

The big idea is simple. The only person that can sell a property you own, is you.  

Ultimately, you are the one that is going to sell the home. All the options come AFTER you’ve realized that you are the one that will be selling the home.  

Now, you can hire someone (like a real estate agent) to help you sell the home. And they can do a chunk of the work. And you can hire other people to help as well. But first, we recommend you own this transaction. It’s on you.

The most common options for a selling a home fall into three categories:

1.  Sell to a cash buyer

2. Sell through a Real Estate Agent

3. Sell it FSBO (for sale by owner)

The Fastest Way To Sell A Home

If speed is the priority, hands-down, the fastest way to sell is to a cash buyer.

Cash buyers are usually investors who bring cash to the table, and can close very quickly. These types of transactions can happen in 1-2 weeks.  

You may have seen signs around town saying how “we buy houses”. These are cash buyers - investors who specialize in solving time-related problems with real estate transactions. Some of the benefits include:

Ease. Usually, these types of transactions are very straightforward. The cash buyer understands they usually are working with people who are in stressful situations, and they need to show up and make it easy for a seller to do business with them.

Speed. These transactions can happen very quickly. As in, from first conversations to closing, 7-14 days is very possible.  

Minimal headache. For properties that need work (minor or major), the cash buyer will normally not ask for these repairs to be made. They factor these repairs into their offer, and they deal with it after the transaction.  

We offer this service at HouseNinja. If you’d like a cash quote on a property you own, click here.

Sell A Home Through A Real Estate Agent

Selling a home with the help of a Real Estate Agent is a very common way of getting a property sold. A Real Estate agent will have a seller sign a contract agreement, in which the seller agrees to only sell the property through the Agent. The property then gets listed on the MLS, and other agents then show the home to their clients, and try to facilitate a sale.  

The costs for real estate agents to be involved usually runs about 6% of the transaction (3% to the buyers agent, and 3% for your agent). This is real money - on a $300,000 transaction, agents are making $18,000. Now, they likely earn every penny - real estate agents have to show homes at all hours of the day (and night) to serve their clients.  

The issue with agents is time. If time is a priority, then it just comes down to how fast the agent can get it sold. Some can get properties sold quickly - many cannot. However, getting an agreement from someone else to buy the property is only the first step - the house has to go through inspection, and usually items are re-negotiated after inspection. If there is a finance contingency, then the buyer has to get a loan for the property, and if the buyer doesn’t like the terms they have the right to terminate the contract to buy the property, usually with no penalty.  

This is why many real estate transactions can take 40-60 days in hot markets, and longer. I’ve personally had to sit on a house on the market for 22 months before the property was sold (and it was sold at a discount). And that was through a real estate agent.

Can A Real Estate Agent Sell A Home Fast?

Sometimes they can. Sometimes, they cannot.  

The problem is, if they cannot sell it quickly, you won’t know until you’ve signed a contract, and you will be forced to sell through that agent for at least 90 days.  

Can You Sell A Home FSBO (For Sale By Owner) Fast?

Selling FSBO is normally the slowest way to sell a home. Unless you have a background in marketing, or a database of real estate connections, then it’s usually difficult to sell a home quickly through FSBO.

When someone chooses to sell FSBO, they are choosing to do all the showings, negotiating, and marketing themselves. The home seller will incur their own marketing costs. The home seller will be fielding phone calls, setting up showings, and haggling with any potential buyers. The seller will write up the contracts and execute those contracts. And if the seller is successful, they will have saved up to 6% of the transaction.

The problem with selling FSBO is that normally, it does not move quickly. Think about it - if selling real estate was as simple as just posting an ad on Facebook or Craigslist, then the average real estate agent would probably make more than $42,000 per year.  

If FAST is the priority, FSBO is not recommended unless you have tremendous marketing skills in the real estate industry.

Should I Short-Sale My Home?

Conducting a short-sale can take months. It involves a process in which the owner will open up negotiation with the lender, and come to terms to sell the property for less than what is owed. The issue is, there still needs to be a buyer for the property. It all happens through a real estate agent (usually, unless you are versed in negotiating the short-sale process). For someone looking to sell their home quickly, there is no real advantage found in the short-sale process.

Should I Sell My Home By Auction?

This can be a great option for someone looking to sell their house, and have a final date in which it is DONE. Auctioneer fees run 1.5% - 4%, and it can take weeks to effectively advertise for the auction. The auction company wants to ensure that people show up so they can get the house sold. The downside is that it WILL be sold at auction, and it might not go for a great price. We’ve all heard stories of people getting a “killer deal” at an auction - the issue is that it was NOT a killer deal for the seller, but for the buyer. And once it is sold, it is sold, no recourse. 

Should I Sell My Home Online?

If you sell your home online, you will either sell it FSBO, or you will sell it on an online auction platform. We’ve discussed the benefits and downsides of selling homes through each of these methods. They are good options for people who want to invest their own time, money, and market their real estate. If they have good marketing skills, then it could be a great move.  

The Recommendation For The FASTEST Way To Sell A Home

If you are looking for the fastest way to sell a home, then it looks like getting a cash offer from a real estate investor. A professional investor can close within 1-2 weeks, and will not ask the seller to do anything - no cleaning, no fixing, no marketing, no showings.  

HouseNinja IS Colorado Real Estate