Quick Overview
Selling your home on a time crunch can be a stressful process. Start by picking the right strategy for your circumstances and researching your local real estate market. Then implement the tips outlined below and you should be well on your way to getting your home on and off the market swiftly.
Key Topics
Selling your home is no easy feat and if you’re on a time limit, this can add even more stress to the equation. Many people want to sell their home as fast as possible so that they can move into their new house quicker, not have to worry about people coming in and out of their house often, and so that their house doesn’t get stagnant on the market. Some people need to sell fast due to financial or personal reasons. The speed that your home takes to sell depends on a few considerations, from the price to the timing and everything in between. Let’s take a look at the ins and outs of how to sell a house fast and when the best time to sell is.
5 ways to sell your house fast
1. Pick a selling strategy
The common options are to sell your home yourself as a For Sale By Owner (FSBO) listing, or to use a real estate agent. If you feel comfortable with marketing the house yourself and being able to find a buyer, then FSBO may be your best bet. If not, a real estate agent will know what they’re doing and be able to sell it quicker than you could, thanks to their contacts and real estate knowledge.
These are the conventional options however, some other options include selling to an investor who will flip the home, selling to a developer, or even selling at an auction. This all depends on how quickly you want or need to sell, and whether you’d like to get your asking price for the house.
2. Deep clean and declutter
Making sure that your home is free of clutter and sparkling clean is a good start. Keeping it neutral and putting away personalized items so that buyers can envision themselves in the space is one of the best ways to appeal to the most buyers. Clearing away clutter makes a house look bigger, and this is always a better impression to give buyers.
3. Set the right price
This is one of the biggest influences on how quickly your home sells. Make sure to price your home right because if it’s too high, your home will end up being on the market for too long and growing stagnant. Check comparable properties in your area for a good price gauge and try not to price your home much above this. Also, consider the price points that buyers often look in, and price your home just below these. For example, you could price your home at $199,000 so that your home will appear in searches for homes under $200,000.
To get a better sense of the market value of your home, sourcing comps (comparable properties) is always a good idea. You can also use an ARV calculator to achieve the same goal.
4. Get small repairs done
Any quick repairs such as peeling paint, loose tiles or leaking faucets should be done before listing your house because they’ll make a big difference to the sale. Get these done before you start showing your house to potential buyers so that you can avoid putting buyers off, and the sale can ultimately go quicker.
5. Add some curb appeal
The exterior of your home is the first thing potential buyers will see, so it stands to reason that attracting buyers to your home begins outside. Make sure that you’ve made your home as appealing as it can be from the outside with improvements such as landscaping, a freshly painted front door and some beautiful plants. You can only make a first impression count once, so this is an important part of getting your house sold fast.
What is the fastest way to sell a house?
The fastest strategy for selling your home depends on whether you feel comfortable to sell it yourself or not. A new strategy that can be quicker than a regular sale is to sell to an iBuyer. This is a company that will buy your home directly from you, with cash. iBuyer sales happen online and all they require from you is to upload photos of your home and complete a form online. This strategy allows you to choose your closing date, so if you’re looking to sell as soon as possible, this can be a great benefit.
iBuyer sales can close in as little as 7 to 10 days if it’s a cash deal without a mortgage or loan. Bear in mind that you’ll be charged an iBuyer service fee which can be anywhere between 5% and 12% of the offer. The main drawback is that iBuyers don’t service the entire country, so you’ll need to check on an iBuyer website if your address is eligible for this type of sale.
What is the best way to sell a home?
There is no one-size-fits-all when it comes to selling a house. The best way to sell your home depends on you and your circumstances, as well as the real estate market in your area. However, here are some tried and tested tips that could help you get your house sold.
- FSBO: Selling your home without a realtor can be the best option if you’re confident in your ability to be able to market the home and navigate the selling process. Not only can you save time, but you can also save money doing it this way.
- Cash offer: Selling your home on the condition that it’s a cash offer is one way to speed up a sale because without the hinderance of mortgage approvals and so on, the sale has less delays. It also means that the risk of the sale falling through is much lower and you can close in a few weeks or even a few days.
- Open house: One of the best ways to get your home sold is by having open houses, where the public can come and view your house. You can advertise your open house a week or 2 in advance and try to drum up as much interest in it as you can. Open houses can turn casual buyers in to serious ones, just by seeing your house.
- Negotiate: Be ready to negotiate, buyers often make offers that are lower that your asking price, and the more willing you are to negotiate on your price a little bit, the quicker you will sell your home.
- Social media: One of the quickest and easiest ways to attract buyers to your house is to advertise it on social media. Find groups that are for buyers and sellers in your area, and make sure that the real estate agent has advertised your home online anywhere they can. Your own personal social media is also an important spot to show your listing and get your family and friends to share it.
- Real estate agent: Using a real estate agent can be the best way to sell your home if you’re not comfortable doing it yourself. Agents have a good network already set up, and they may even have buyers in mind for your home when you list with them. This, combined with the fact that agents are familiar with the process, means that your house can get sold quicker.
What are the best months to sell a house?
Seasonality can make a significant difference to how quickly your home sells. There are certain months where the real estate market is hotter, and certain months where it’s quieter. So, you should consider the timing of the sale as a factor if you’re wanting to sell fast.
The spring and summer months are notorious for being a popular time to buy and sell houses. The market gets hotter, along with the weather, and the average numbers of days that a property is on the market is generally lower during these months.
RedFin brokerage collected data over 5 years which showed that June and July are the optimal months to put your home on the market in the US. These months had the lowest number of median days on the market, which simply means that your house will sell faster. However, different regions can exhibit different real estate trends, so these time periods are simply a suggestion, and it is important to check your local real estate market first.
For example, in areas with warmer weather, the real estate market can begin to buzz earlier in the year. Whereas the market in areas that have more extreme climates and colder winters may only pick up later in the year.
According to RedFin data, June and July also have the highest sale-to-list ratios across the country. Sale-to-list ratios indicate what the house sold for versus the price it was originally listed at. In other words, listing your house in June and July could not only lead to a faster sale, but also a sale that gets you closer to your asking price.
What are the worst months to sell a house?
In the US, the winter months are typically the worst months to sell your house. This isn’t a hard and fast rule, however it’s a trend that seems to be true across the country. The cold weather and snow can be off-putting for people to look for a home, not to mention the fact that it’s a holiday period and not usually the time buyers would make property shopping a priority.
December through February are generally the months where the real estate market slows down, and therefore selling your house could take longer. While you may have less competition, there are also less buyers, which means that bidding wars won’t be as frequent and you may not get your asking price.
Factors to consider before selling a house
Aside from the timing of the sale, there are a few considerations that you’ll need to factor in before you list your home. These can impact the speed of the sale and will also determine the strategy that you use.
- Personal circumstances: Your financial, emotional and physical circumstances play a big role in selling your home. If you’re in a rush to sell your home for financial reasons, for example, then you may want to consider being flexible on the price. Whatever your reasons are, you’ll need to use these as guidance towards realistic expectations about the selling period of your home and make adjustments if needed.
- Local real estate market: Doing your homework on the real estate market in your area is one of the most vital parts to getting your house sold quickly. Once you’ve figured out the trends and inventory for your area, you can create a game plan suited to this. For example, if there are a lot of houses for sale in your area, you could consider dropping your price, or making some improvements to your home to set it apart from the rest.
Closing thoughts
Once you’ve given some thought to your reasons for selling, done your homework on the real estate market in your area and consulted an agent, you’ll have a good understanding of your needs and can set realistic expectations for your sale. From there, you can follow the tips we’ve outlined above and any others you come across to get your home on the market and sold as fast as possible.