If the question “how do I sell my house fast?” is something you have been pondering about, then I’m certain that you have thought about contacting a local real estate agent to list your property for sale.
Well, this isn’t a bad option if you have adequate equity in the home and have the time to wait around for a potential buyer. However, if that’s not the case, then you certainly need another option.
Selling your home through an agent could mean months of it sitting on the market while you continue to make the necessary payments. Well, an excellent alternative that I myself would consider to sell my house fast is by working with a real estate investment company.
That being said, here are excellent options that you may want to consider.
Sell For Fast Cash
Numerous real estate investors have private funding which gives them the ability to purchase houses on the brink of an eye. They don’t have to sit through the process of loan approval and wait for some lender to decide whether they qualify.
More often than not, they purchase houses in just a few days after getting in touch with them. They will conduct a quick inspection of the property, run a few numbers and make you a fast offer.
In most cases, when you are looking to get all cash, you’ll be forced to settle for a lower buying price. Considering the fact that the real estate investors are putting up hundreds of thousands of cold cash and need an ideal ROI makes this understandable.
They have a lot of options on what to do with their funds and so, if you need to sell quick, your home has to be a worthwhile investment for them.
Lease Option Your Property
This is another excellent way that I would consider in order to sell my house fast, but not many individuals know about it. However, it only works if your home is in excellent condition.
Most real estate investment companies do not like to invest in repairs in a property that they do not own. However, if your home doesn’t require any or major repairs, then a lease option could be an excellent way to sell fast.
As with the option mentioned above, this one also takes a few days to complete. At this point, you might be considering leasing your property to an actual tenant instead of a real estate investment company.
That wouldn’t be a bad idea, but you need to be ready for what that decision would entail. First and foremost, you immediately become a landlord the moment you decide to lease to a tenant.
While you might not mind the idea of dealing with ‘tenants’, you should consider whether it’s in your best interest to become a landlord who is on call 24 hours a day to deal with the tenant problems, not to mention things like collecting late rent, eviction and the rest.
An investment company, on the other hand, will have everything set up to be an ideal landlord and handle all the issues. Secondly, do not forget how fast you want to sell the home.
When you sell through a lease option to an investment company the transaction will be done in a few days and you will get your money in cash. However, if you choose to bear the burden, it can take several weeks or even months to get an ideal tenant-buyer.
Keep in mind that during this time you will spend money marketing the property, showing it to the prospects and screening them. As such, it’s up to you to decide whether you can afford to delay selling the property for a while.