You want to sell your house, but you don’t want to wait. Unfortunately, it may take time to sell your property, as indicated by the average days on the market (DOM).
Plus, even if you do sell, how can you be sure you are getting a good deal?
If you’re wondering “how to sell my house fast in Memphis” (and make it an easy process) the answer is easy: hire a professional.
What can a professional do for you? Here are the distinct advantages a professional brings to your home sale.
Foreclosure Is Inevitable
Let’s look at the first situation where a professional can help: foreclosure. The threat of a looming foreclosure is something no one wants, but if your home is nearing foreclosure, it’s better to sell.
Owners of foreclosed properties aren’t negotiating from a place of strength. They have to sell the property and unload it as soon as possible before they lose possession of it.
Soon-to-be foreclosed properties can either be sold via a traditional real estate translation or with a short sale. A short sale is when the lender agrees to accept an amount that is less than the mortgage amount currently owed by the homeowner.
For a lender, a short sale usually costs less than a foreclosure. However, the homeowner often has to settle the remainder of the debt with the lender.
A foreclosed property will stay on your credit report for seven years and severely impact your future credit. This includes getting a loan or a new mortgage for another property.
Obviously, selling a home that is facing foreclosure is a stressful situation. However, if other options (such as filing for bankruptcy or setting up a repayment plan with your lender) are not viable, selling may be your best option. At the very least, you will be able to be proactive about your situation and prevent your credit from completely tanking.
Hiring a professional to help you will make sure you get the best deal possible on your property, sell it ahead of the foreclosure, and help remove some of the emotion from the ordeal. The threat of foreclosure is extremely stressful, so a professional can help you navigate this difficult situation.
Are you wondering how to “sell my house fast?” Consider finding a cash buyer and selling your home before the foreclosure sale.
For Sale By Owner Contracts
For sale by owner or FSBO homes are often done by sellers who wish to avoid paying a commission to a listing or seller’s agent. Under a traditional arrangement, the commission for selling a home may be 5-6% of the sales price. This is then split with the buyer’s agent. Each agent (the listing agent and the buyer’s agent) usually splits the commission 50-50.
However, an FSBO seller still needs to pay the buyers’ agent, which means they are usually only saving 3% of the overall sales price. That’s something to think about if you’re considering doing an FSBO sale.
FSBO homes can take longer to sell. Often, they also sell for less than an agent-listed home. Pricing your home correctly (not too high or too low) could mean fewer offers.
The lack of marketing by FSBO sellers also means you won’t get the same amount of attention from an agent-listed home.
If you have not sold a home before, the lack of knowledge about the process is going to hinder your sales efforts.
It’s also very, very time-consuming-there’s a reason why high-performing real estate agents work full-time. Along with finding and setting the right price and marketing your property, you need to communicate with potential buyers, set up viewings, review offers, and communicate with buyers and their agents to negotiate.
Ultimately, selling a home on your own means it’s likely to take much longer than anticipated, sell for less, and require a lot of time and work from you. Instead, pair with a professional for best results.
The Cost of Building a New Home
It’s no secret that building a new home is expensive. Even if you already own the land, a new home is going to cost you.
The average cost of building a new single-family home is just over $485,000. Obviously, the cost will vary depending on the location, size of the house, materials, labor, and other factors. Regardless, that’s a lot of money for most Americans.
However, having a property that you can sell will enable you to leverage those funds toward building a new home. It’s likely that your property has increased in value over time, so why not use that to your advantage?
Fortunately, many home buyers are eager to buy, and it can get competitive. For a home seller, it’s a great market.
A professional will help you sell your home in a timely manner, and get you as much money as possible. Building a new home is stressful enough; don’t deal with the added stress of trying to sell your house.
Sell a House for Cash
A professional can help you sell a house for cash, which has lots of benefits. For one, it makes the overall home-selling process much easier.
Someone who makes a cash offer on your house is someone who is making an offer to buy your home outright, with no mortgage involved. That means they have enough liquid cash ready to cover the entire purchase price. There is no loan approval process required.
As a result of no lender being involved, other aspects of the home-selling process are streamlined. Unlike a traditional home sale, there is no risk of a loan application being denied.
Selling a house for cash often means selling a home “as is.” This means there is no need to worry about staging your home. Home repairs also aren’t required, making this a great option for older homes or fixer-uppers.
Likewise, a home appraisal is often not required. Home appraisals are lender mandated, so with no lender involved, there is no need for a home appraisal.
For Memphis area homeowners, selling a house for cash through We Buy Houses means there are no fees, no costly renovations or repairs that need to be made, and even homes that are behind on mortgage payments can be sold.
There aren’t too many disadvantages to selling your home for cash. There are some shady companies out there, but if you work with an established company like We Buy Houses, that’s not something you have to worry about. We are a local company that will offer you a fair price for your home, with no hidden fees or commissions.
Do you want to sell your house fast? Do you want to avoid costly repairs? Do you want to avoid the hassle of negotiating with buyers?
If so, sell your home for cash.
Save Yourself Frustration
Let’s face it, selling a home is stressful and frustrating. Working with a professional makes the entire process quick and easy. Think of no hidden fees or high commissions that will eat into the profit of your home sale.
Then there’s the amount of time saved. There’s no need to market your home on your own, which means there is no need to stage it, take professional photos and videos, and advertise your listing.
You don’t have to handle communication with potential home buyers. You don’t have to schedule viewings and hope they show up.
There’s no need to estimate how much your home is worth and try to price it accordingly. You want your home to sell, but you don’t want to undervalue it and sell it for next to nothing. Finding the right price is important to selling quickly and getting a fair deal.
You don’t have to worry about current trends or market conditions. Buyers’ market, sellers’ market-either way, a professional will make sure your home is sold, even if the current trends are less than ideal.
Overall, the process means less stress for you, letting you concentrate on moving on.
Sell My House Fast in Memphis
Do you lie awake at night wondering how to “Sell my house fast in Memphis?”
Maybe you’re trying to avoid foreclosure and need to sell your house immediately. Maybe you need professional help selling your FSBO home. Maybe you’re ready to move on to a new home but want to leverage the profits from the sale of your current property.
Whatever your reason for selling is, We Buy Houses can help. We buy ugly houses, old homes, new homes, fixer-uppers, condos, and many, many more.
Get a cash offer for your home today.