If you find yourself saying, “I have to sell my house quick!” you probably already know that this is not a good time to try to sell your home quickly. Between tightening mortgage guidelines reducing the pool of potential buyers, and an abundance of deeply discounted homes on the market, selling quickly has never been more challenging. Still, there are situations when you must sell quickly. If you are in that situation here are some of your options.
Sell to an Investor
You may have seen signs around the highway advertising “We buy ugly houses” or just “We buy houses”. These signs are generally placed by real estate investors who are in position to make a cash offer on your home. Some of them are able to close in as little as 48 hours. Before you get too excited at the idea of having cash in your hands in just 24 hours, you should know that the offer that they make will likely be just 65% of the fair market value of your home. Still, if you do have this kind of equity, and you are in a situation where you absolutely must sell, this can be a viable alternative.Have a look at Sell my house fast Cincinnati for more info on this.
Sell with a Rent to Own Contract
Another alternative that is gaining in popularity is to sell your home on a rent to own contract. If you work with a company that already has a large database of rent to own buyers, this can happen in as little as a few days to a few weeks. Although you will not get cash today, you will get 100% of the full fair market value when the home does close. Typically, rent to own contracts are set up for a term of two to three years to give the tenant buyer the legitimate opportunity to improve their credit situation. During this term, you will have all of the expenses associated with the home covered and may even have cash flow.
Wait it Out
If your situation is not desperate, another alternative is just to put your home on the market and hope for the best. To maximize your chances for getting an offer, it is important that your price your home correctly. Many homeowners make the mistake of using statistics when pricing their homes. Don’t fall into this trap. What you need to do is hit the streets! See what other comparable homes are on the market for. You should also examine other homes that have recently sold.