Are you trying to sell a house fast in a seller’s market?
At first glance, it might seem like a good problem to have. After all, when real estate markets get hot, demand is high and supply is low. That should mean you won’t have any problem selling your house fast.
Unfortunately, it isn’t always so simple.
So Many Offers, So Little Time
In a strong seller’s market, a homeowner can expect multiple offers immediately after listing their property. That should mean a sale will come quickly, right?
Not necessarily. For one thing, the top bidder’s offer can easily fall through if they can’t secure financing. For example, the mortgage lender may demand a higher down payment than they can afford, or an appraisal by the bank may value the house less than the offer. That can trip up any desperate bidders who try to go all in before they have financing nailed down.
If an offer falls through, you’ll have to start the process all over again, losing precious days or weeks wasted on a failed bid.
Hiring an Agent Takes Time and Money
If you want to get lots of offers quickly, you’ll want to hire a professional real estate agent. This is the easiest way to get your home listed on the Multiple Listing Service, or MLS, which is a proprietary online list of homes for sale in a given region. Only licensed and registered real estate brokers and agents can list on MLS, so you’ll need to retain a real estate professional to get listed. (Note: in some cases, you can pay a discount broker to list your home for you, but you may hear from fewer interested buyers if you take this route.)
Of course, that means you’ll have to give the agents a portion of your home sale – typically around 6 percent of the final sale price. So if your house goes for $300,000, you’ll be forking over around $18,000 to your agent and the buyer’s agent at closing.
Add to that the amount of time you’ll want to take to find a trustworthy, capable real estate agent. In a hot seller’s market, agents are in high demand, and you may not be able to find one who can meet your needs right away. The alternative could be going with a less-experienced agent, or one who doesn’t know the market, costing you even more in the long run.
You Need to Sell Fast, But the Process Takes Time
Now that you’ve found an agent and listed your home, the offers come pouring in… right?
Actually, any number of things could slow down the process.
Besides the risk of offers falling through that we described above, you may find many buyers want to see the property themselves before making an offer. All those showings take time.
Then, once you select a bidder, the waiting game starts again, while the lender decides whether to approve the loan.
Add several more days to the mix when it comes time for closing. You’ll need to choose a title company, then wait for it to handle the title search and prepare all the closing paperwork. (Note: in a strong seller’s market, the buyer will often pay for closing costs and hire a title company, rather than the seller.)
Get Ready for Guests – Lots of Them
Assuming you’re not overwhelmed with bids from blind buyers who don’t care about ever seeing the house in person, you should expect quite a few showings of your home by your real estate agent.
If you’re still living in the home, this can be a real hassle. Double the stress factor if you have kids and / or pets. Dogs will need to be secured or even boarded, and young kids might need to go to a neighbor or babysitter’s house every time a new showing is scheduled.
You’ll likely find yourself cleaning top to bottom, seven days a week, just to keep the house looking and smelling presentable to any prospective buyers.
What if you have health problems or concerns? All those strangers coming and going from your home, and sticking their heads in every room, might make you worry about exposure to any germs they brought along for the ride.
Bottom line, every showing is a possible inconvenience – and an interruption to your daily life.
You May Not Be Able to Sell As-Is
No matter how hot the market gets, there are some issues that will scare away almost any traditional buyer.
For example, home shoppers may be hesitant to make an offer if your house has obvious foundation problems – cracks in the walls, sticking doors, and sloping floors. The same goes for unrepaired flood damage from burst pipes, a leaky roof, or other issues that will cost a lot of money to fix.
Alternatively, the house may come with its own set of hazards created by a tenant. They could be behind on the rent, damaging the property, or otherwise too much of a headache for you to handle. Even in a robust seller’s market, you may not get many offers if it looks like you’re just trying to make the house someone else’s problem.
Sell Your Texas House Fast For Cash
Here’s some great news if you want to sell your house fast in a seller’s market.
You can sell your house right now to an investor, like Local Cash Buyers, and avoid all of the above.
Here’s how our fast and easy process works:
- You contact us to request a free, no-obligation consultation.
- We arrange a brief visit to your property, on a day and time that works for you.
- WIthin 24 hours of our visit, we make you a written, zero-obligation cash offer.
- If you accept, we take care of all closing costs and you get the cash in as little as 7 days!
Because we pay cash, there are no banks or other lenders involved. There are no appraisals, and we buy as-is – even if there’s a tenant living there, if major repairs are needed, or if there are liens against the property.
You can sell your Texas house fast in a seller’s market, and we can help! Contact us now for a free consultation. We look forward to helping you sell your house fast!
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- How to Sell a House Fast in a Seller’s Market