Sell My House FAST

Selling a house FAST can be a daunting task, but it can be done with some careful planning and execution.

Many homeowners in Jacksonville or St Augustine want to sell their house fast due to various reasons, such as financial problems, unexpected life expenses, a new job opportunity, relocation requirement, or even the death of a spouse.  The traditional 60 to 90 days on market to find a Buyer, followed by an additional 30 to 45 days it takes to actually close on the sale of a property may not be an option in such cases.  However, there are several options available to sell a house more quickly, such as selling on the open market with a better plan, selling to a friend or family member, selling to a local or large institutional investor, or selling to an iBuyer.  In this article, we will explore these options, the fastest way to sell a house, and 10 tips to sell a house quickly.

Reasons Home Owners Want to Sell Fast

There are many reasons why homeowners may want to sell their homes quickly, here we will explore some of the most common reasons why homeowners want to sell quickly.

Financial Problems

One of the most common reasons why homeowners want to sell their homes fast is due to financial problems. Whether it's a lost job, major medical expenses, unexpected life expenses, or foreclosure, financial difficulties can make it difficult to keep up with mortgage payments, property taxes, and other expenses associated with owning a home.

In situations like these, selling a home quickly may be the best option to avoid foreclosure or bankruptcy. While selling a home quickly may not yield the highest price, it can help a homeowner avoid further financial difficulties and get out from under their mortgage.

Divorce

Divorce is another common reason why homeowners want to sell their homes quickly.  Divorcing couples are often ready to make a clean break and move on with their lives.  Selling a home quickly can help expedite the divorce process and make it easier for both parties to move on.

In a divorce situation, it's important to work with a professional REALTOR who has experience working with divorcing couples.  They can help facilitate the sale and ensure that all parties are treated fairly.

Death of Spouse

When a major loss happens, many widowed spouses are looking to move on quickly.  Selling a home quickly can help a grieving spouse avoid the emotional burden of maintaining a home they may no longer want or need.

In these situations, it's important to work with a real estate professional who is sensitive to the homeowner's needs and can help expedite the sale process.

New Job Requirement / Opportunity

Another common reason why homeowners want to sell their homes quickly is due to a new job requirement or opportunity.  Whether it's a relocation, overseas job, or military deployment, a new job requirement may make it necessary to sell a home quickly.

In the event of a new job requirement, it's important to work with a real estate professional who is familiar with the local market and can help expedite the sale process.  They can also help coordinate with the homeowner's employer to ensure that the sale is completed in a timely manner.

Buying Another House

Hey, we get it!  Sometimes you get a little ahead of yourself and fall in love with that extra special pool home.  Maybe it was a waterfront home or a luxury home.  Maybe you visited Nocatee and decided to just go for it!  

We've certainly gotten our fair share of phone calls from home owners who made an offer and went to contract on their next home without really coming up with a plan to sell the existing home.  And now it's time to sell fast!   When Buying a new home, most people who already own a home, will need to sell the current home pretty fast.  There are some options to potentially help you "bridge the gap", but ultimately selling your existing home will solve the problem.  We can help! 

What is the Fastest You Can Sell a House?

Traditionally, it takes a buyer and seller 30-45 days to close on a sale, but that's once it's under contract.  However, there are ways to sell a home much faster!

If you have a cash buyer who is ready to close, technically a house could be sold in just a few days.  However, the title company must run a title search and lien search to confirm the title is clear of encumbrances and all liens will be satisfied with the sale.  The cash from the buyer must also be available and wired to the title company.

If a mortgage is involved, 20 days is about the fastest it can be done, but will require an appraisal.  All parties will need their ducks in a row to make a 20 day closing work.  

Options to Sell My House Fast?

Sell on the Open Market ("list" the home for sale)

One of the most common ways to sell a house is to list it on the open market through a licensed real estate agent.  While this option may take longer, it is the best way to receive the highest price for the home, since it will give the most exposure to the broadest amount of people who could possibly be interested in purchasing the home.  We've sold houses on the open market in days and then closed on the sale within 10 days.... total time, maybe 2 weeks - it can be done! 

One of the downsides of selling on the open market is that it will require the homeowner to allow showings and inspections, which can be time-consuming and inconvenient.  Your REALTOR will also advise on a listing price that is attractive for a fast sale but not leaving too much money on the table.  Additionally, the real estate agent will act as a buffer to negotiate on behalf of the homeowner.

Sell to a Friend or Family Member

Another option to sell a house fast is to sell it to a friend or family member.  The homeowner can choose to use a real estate agent or sell directly without a real estate agent.  However, it is important to establish a fair price for both parties and not be caught in the "friend trap", which could result in giving away a bunch of equity or making concessions that you may not have made with a stranger.   

While inspections will almost certainly be required, sometimes a friend or family member will be a little "looser" since they know the homeowner.  This option can be advantageous for both parties since they already know each other and can skip some of the formalities of a typical real estate transaction.  This could be good and bad.  

Sell to a Local Investor

Another option to sell a house fast is to sell it to a local investor.  The homeowner can choose to use a real estate agent or sell directly without a real estate agent.  However, it is important to note that these investors will usually want the highest discount as they are more "mom and pop," so they will require larger margins of profit before they'll risk their personal capital.

Sometimes these investors will want unique financing terms like seller financing, which is not recommended unless the homeowner has fully vetted all the terms and is 110% comfortable with all the potential outcomes. Additionally, inspections will be required for this option.

Sell to a Hedge Fund/Large Institutional Investor

Another option to sell a house fast is to sell it to a hedge fund or large institutional investor. Most of these investors will require a real estate agent to be involved, and inspections will be required.  They are notorious for renegotiating before closing, but this is about 50/50 depending the firm.  We have a lot of experience with institutional investors!

This will be the cleanest possible closing since they are large firms with major financial backing, so cash is king, and it's all about the number for these companies.  They will typically pay more than local investors, but it is important to note that they may not always offer the highest price.

Sell to an iBuyer

Finally, the homeowner can choose to sell the house to an iBuyer.  The homeowner can choose to use a real estate agent or sell directly without a real estate agent.  iBuyers have tightened up their buying criteria and have become more picky.  Additionally, iBuyers have changed the discounts they want as they attempt to become profitable.

iBuyers were probably the highest paying Buyers a couple of years back (2020 - 2022), but are now one of the lower.  If one of your friends or family members sold to Zillow, Opendoor, or OfferPad and made a killing, those days are long gone!  These iBuying companies have had major losses, and their investors are demanding profitable performances.  Profitability for these low-value-add companies is only created by purchasing well below market value and selling high.  Not great for your wallet, but they may offer a fast closing. 

Can I sell my house Fast, "As Is"?  

Selling a house "As Is" can be a great option for homeowners who need to sell their property quickly and do not want to spend time and money on repairs or upgrades.  It can also be a good choice for those who inherited a property they do not want to keep or have a rental property that needs to be sold quickly.  We (Brad Officer REALTOR GROUP) have much experience selling houses As Is - we've been selling houses AS IS for many years.   

When selling a house "As Is", it is important to be transparent about any issues or defects with the property. Buyers will still want to inspect the property and may negotiate the price based on any repairs or upgrades that need to be made.  However, selling "As Is" can save homeowners time and money in the long run.

One option for selling "As Is" is to work with a real estate investor or cash buyer who specializes in buying properties in any condition.  These investors can often close on the sale quickly and handle any necessary repairs or upgrades themselves, saving the homeowner time and hassle.

Overall, selling a house "As Is" can be a viable option for those looking to sell their property quickly and without the need for repairs or upgrades.  As always, it is important to work with a reputable buyer or agent and be transparent about any issues with the property.

10 Tips to Sell a House FAST

1. Hire a Professional REALTOR

One of the most important things you can do when selling your house is to hire a professional REALTOR.  A REALTOR will help you set an attractive list price, provide professional marketing, guide you through any condition changes that may be needed to the house, and negotiate the best price and terms for you.  They can also put your home on the open market to bring the largest potential buyer pool and shop your home to local investors, hedge funds, institutional buyers, and to the iBuyers.  A REALTOR will secure the sale via a professional REALTOR contract, handle all re-negotiation attempts, and coordinate all closing procedures.

2. Set an Attractive List Price

Setting the right price for your home is essential if you want to sell it fast.  Your list price must be precise whether selling with a REALTOR or by yourself.  No one wants to deal with a seller who gives out different information depending on the day or the mood of the seller.  Your price must be realistic and very aggressive but not too low to cause suspicion.  Price it low enough to insure an As Is Buyer and to bring both regular owner occupants and investors.

3.  Condition of Home Matters

The condition of your home is important when selling it fast. Good condition makes it easier to sell fast and As Is.  Consider making needed repairs, but don't go overboard.  Do you have a handyman that can fix all those annoying items throughout the house?  The goal is to make the home portray that it's been well cared for, and having all those little deferred maintenance items repaired is a good start.  If the home is not well cared for and needs major repairs and has heavy deferred maintenance, you will need to price according.

4.  Allow All Showings

Allowing all showings can be hard to do sometimes with life going on in the background, but we recommend allowing all showings when they are requested.  Go away for the day or even the weekend while the home is being shown. 

Don't be there while the home is being shown!  A Seller that is present makes it too difficult for Buyers and their agents to talk openly about the house.  They'll also ask you questions and you may unknowingly say something that turns them away or makes them not want to make an offer.

5.  Depersonalize the House

When you're trying to sell your house fast, it's important to make it as neutral as possible.  You want potential buyers to be able to picture themselves living there, so it's best to remove any personal items that might make them feel like they're intruding on someone else's space.  This includes family photos, heirlooms, and any other personal items that might make the space feel like it belongs to someone else.

6. Declutter!

In addition to depersonalizing your home, it's also important to declutter.  Get rid of anything that isn't absolutely necessary, as this will make the space feel larger and more inviting.  Remove large, overstuffed furniture that might make the space feel cramped, and rent a storage space to store any items that you don't need on a daily basis.

7.  Consider Curb Appeal

First impressions are everything, so it's important to make your home as inviting as possible from the outside. This means making sure your yard is trimmed and fresh, all hedges and trees are trimmed, and any flowers are new and colorful.  Consider adding new mulch if possible, and make sure the exterior of your home is clean and well-maintained.

8.  Prep the Home for Showings

When potential buyers come to see your home, you want it to look its absolute best.  This means making sure it's spotlessly clean, all trash is removed from trash cans and preferably removed from the house, there are no dirty dishes or clothes lying around, countertops are clean, and there's no smelly food or anything else that might make the space feel uninviting.  Make sure all toilet lids are down, window blinds and curtains are open to let in plenty of natural light, and all beds are made.  Remove any valuables and collectibles to keep them safe during showings.

PRO TIP: replace any light bulbs and seriously consider upping the wattage/brightness on current bulbs.   We want Light and Bright!

9.  Offer Incentives for Fast Closing

If you're really serious about selling your home fast, consider offering incentives for a fast closing.  This could include: 

• paying for the buyer's closing costs
• paying for major repair items like a roof or HVAC system
• paying for the buyer's wanted "upgrades" like granite countertops or new wood floors.

There are plenty of options available here and the skies the limit.  You never know what a buyer might want in exchange for a much faster closing!

10. PRO TIP to Sell Your House FAST!

Don’t tell people WHY you need to sell fast!

When it comes to selling your house fast, there are several tips and tricks you can follow to increase your chances of success.  One of the most important final tips is to keep your motivation for selling a secret.  While it may be tempting to confide in friends, family, and neighbors about your desire to sell quickly, this can actually harm your chances of finding a buyer in a timely manner.

One of the biggest reasons to keep your motivation for selling a secret is to prevent any negative assumptions from potential buyers.  If someone learns that you need to sell fast due to financial difficulties, divorce, or other personal issues, they may assume that you are desperate and try to lowball you on the price.  They may also think that there are underlying issues with the property that you are not disclosing, which can make them hesitant to make an offer.

Additionally, if your neighbors or friends know that you need to sell quickly, they may interfere with the selling process.  For example, if your neighbor is unhappy about the possibility of new homeowners moving in, they may try to sabotage the sale by spreading rumors or making the property less appealing to potential buyers. This can harm your chances of selling fast and for the best possible price.

Finally, keeping your motivation for selling a secret can help you maintain control of the selling process.  If you disclose your need to sell quickly, potential buyers may try to rush you into making a decision or pressuring you to lower the price.  By keeping your motivation a secret, you can maintain your negotiating power and ensure that you are making decisions that are in your best interests.

So, how can you keep your motivation for selling a secret? 

Easy:  avoid discussing your reasons for selling with anyone other than your real estate agent or attorney.  Even then, only disclose what is necessary for legal or practical reasons.

If in the odd chance you run into potential Buyers, they may ask questions about why you are selling.  You can simply say that you are ready for a change or that you have found a new opportunity elsewhere.  By keeping your answers vague, you can avoid giving away any information that could be used against you in negotiations.

Conclusion to a FAST sale of your house

In conclusion, selling a house fast requires careful planning and execution.  By following our tips, you'll be well on your way to selling your home quickly and for a great price.  Remember, hiring a professional realtor is one of the best things you can do to make the process go smoothly, as they'll be able to guide you through every step of the process and help you get the best possible price for your home.  Good luck!