U.S. homeowners welcomed the Federal Reserve’s interest rate cut in September. Experts say the rate cut is good news for home buyers as well.
Forbes Advisor notes it’s the opportune time to take advantage of current conditions and get ahead of the pack before they are priced out of the market.
For homeowners planning to sell, things may be a bit different. Right now, putting your house on the market takes skilled timing and expert advice. It’s another story if it’s an urgent sale that requires immediate action due to an unexpected situation.
This article will explore essential tips to sell your home faster.
It could take several months for your place to be sold. Sometimes, longer, depending on market conditions.
Some homeowners aren’t afforded the gift of time and may need to fast-track the sale. However, your timeline must be realistic and you have to list at a competitive price.
Online evaluation tools are handy in determining property value. Automated value models or AVMs, are used by real estate websites to give a clear indication of a home’s value.
Using complicated mathematical models, Nerd Wallet says AVMs estimate the value based on public records and recent sales of similar homes in the area.
Another option is the Federal Housing Financing Agency's house price index (HPI) calculator which estimates value with a “repeat sale” tool by tracking a home’s value every time it is sold.
Your local real estate agent can also do a comparative market analysis (CMA) with little or no cost to you. However, they may do this explicitly for listing purposes and expect you to hire them as your selling agent.
Hiring a local real estate agent will give you a running start. They should know the market, be familiar with the area and have a proven track record.
But the convenience will cost you. According to Investopedia, real estate agents require a 2 to 3% commission on the home’s sale price.
There is another route you can take. You can sell your home to a company acting as the home buyer. This entails you selling your house for cash, no matter the condition.
No realtors, fees, commissions or inspectors are included when opting for this choice. Click here to learn how to sell your home for a fast, reliable process, easily.
Start by filling out a form and getting a straightforward cash offer. The company manages the admin side of things, making the process as stress-free as possible. You receive payment within an agreed timeline.
Cash offers are more appealing to sellers and a preferred way of selling their homes. These investor companies include a team of market experts who negotiate the highest off-market price.
Doctor Homes advises that it’s the smartest choice for many desperate sellers, whether you’re going through a divorce or unexpected life events.
The aim is to sell your property in the fastest time. Some homeowners tend to do extensive repairs to increase the sale value.
Homes & Gardens says blankly, don’t bother. Property experts note that making structural renovations doesn’t make financial sense close to the sale. You might also run the risk of not recouping the costs.
Simple updates like a fresh coat of paint increase curb appeal, and it doesn’t cost an arm and a leg.
The publication adds that people make the mistake of replacing the roof. Yes, go ahead and fix broken roof tiles or leaks and cracks. But, don’t replace the entire roof. Besides the costs, it could delay the sale if permits or inspections are required.
The same applies to rewiring and re-plumbing your home.
Home staging is an enticing sales pitch. It allows potential buyers to envision a place they can call their own.
Real simple says some of these features are straight from TikTok or home design trends. It makes your home more appealing to younger, first-time buyers.
Who would have thought that rounded corners were in demand? According to Real Simple curved archways and furniture can sell your home in six days.
Because biophilic design trends are taking over almost every aspect of architecture, plant ledges are some of the most coveted features in homes. Five days faster is the running time for a sale.
Interior designers advise that less is more, and to keep your palette neutral. Also, keep clutter to a minimum and remove everything from kitchen countertops, except for a few appliances.
You're going to have to spend money here. Having a professional photographer take photos of your home is one of the fastest ways to attract buyers.
Home buyers do all their property searches online. High-quality photographs will get your listing noticed faster than others.
Dont take photos of every square inch. The goal is to entice potential viewings. You want to whet their appetites by giving them a preview of what’s in store.
It can take an average of 30 to 65 days for a property to be sold. Data also suggests a home sells faster in the warmer months.
Local market dynamics also play a role. Your area could be well-sought-after or the complete opposite.
Take all these variables into consideration when putting your house on the market. Give yourself a month to prepare before listing your property so you can change your mind.
A cash sale is often the fastest way to close a deal. If negotiating with a house-buying company, expect to receive an offer within several days.
Deciding to list your home is a decision that shouldn’t be made overnight. It’s life-changing and can affect your financial future. Don’t be too hasty when the first offer comes around. Trust your real estate agent and trust your gut.
Often, people have seller’s remorse and by the time they realize it, changing their mind isn’t on the cards. Think long and hard before putting that “for sale” sign up.
