The real estate market has always been slow and sometimes, stale. This is because of the number of legal complications that are involved in this type of trading business. Besides, this industry is not as fast as most other grand trading industries like AirBnB and Uber. Accordingly, selling your house or property in these conditions would require a bit of patience. You need to know that the praocess won’t be a swift one and you may end up making mild sacrifices to close the deal.
You need to consider things like the mortgage you plan to take for buying a new house and the endless streams of fees, commissions, and hurdles that you’re going to stumble upon as you try to sell your property. If you’re trying to ease this process as much as possible and sell your home quickly, this article is for you.
Choose Your Real Estate Agent Wisely
A real estate agent’s main job is to sell your house as quickly as possible and for the highest price possible. But while most realtors out there are only after that goal, some of them may not have the same intentions. Some realtors are not even registered or licensed as “agents”. The agents you want to go after are those who are developed in their career enough to become top producers. These are the ones that are most likely to acquire helpful relationships in the industry in order to help you sell your home quickly.
After all, you end up giving them a considerate percentage of the whole price, which means that you can waste a lot of money if they’re not efficient enough in their job. That’s why you need to find yourself a trusted real estate agent, preferably one that acquired a “top producer” portfolio to guarantee the best possible results.
Find a Wholesaler
If you know this industry well enough, you probably are aware that nearly half of the real estate transactions take place using cash. What that means is that there are no middlemen or banks involved in the whole process. This also eliminates the traditional requirements and hurdles, including underwriting. Wholesalers are companies that buy houses or act as the middle-man for your house. Not necessarily for the best or highest price, but it’s a guaranteed way of selling your home quickly and easily. This is because these wholesalers already have enough cash buyers who are ready to make a deal as soon as their inventory requirements are met. Eventually, you’ll end up selling your property faster than you would have if you hired a top producer agent. It will also save you the long hassle of chasing after cash buyers.
Reduce Your Price
Many people don’t understand the impact of property prices on this industry’s type of customers. People are always drawn to dramatic discounts, it’s a factor that plays a huge role in how fast you sell your house. Depending on the market conditions, you may be forced to reduce the original price of your property in order to push a sale or find a buyer. This is a process where even removing your home from the MLS and re-listing it again won’t do you any good because people will still be able to view your property history.
When buyers can see your property’s history, they can tell the number of days your home was listed in the market. Buyers can also tell whether you’re a serious seller or not. This is why your best option would be to make a drastic change in the price of your property. Make a deduction between $20k to $50k, depending on the temperature of the market. This will ensure that you keep up with the market demands and get a deal on your property as soon as possible.
Hand Over Your Mortgage to Someone Else
Another solution if you can’t sell your house, is to transfer your mortgage to someone else who qualifies. This is, of course, under the condition that your mortgage can be assumable by someone else. So, make sure you check the relevant docs to find out if your mortgage is assumable. If it is, you’ll be able to hand over the responsibility to someone else instead of having to find a buyer.
This also means that you can rent your own home and keep living in it even after you transfer the mortgage. You’ll just need to get the required permits and paperwork but it won’t be a long process. However, it’s important to remember that whoever you transfer your mortgage to must also qualify for the same requirements you qualified for before applying.
Selling your house or property is no longer as easy as it used to be a few years back. Compared to other rapidly growing industries, the real estate industry is slow and prices haven’t really made a profitable change for a long while. This is why you need to play your cards right and either invest in a good realtor, reduce your target price, or contact a wholesaler who can help you make a quick successful deal.