You need to make a move. “Must sell house fast. Must move. Must be closer to work/school/family/opportunity. Must downsize or upsize or change your location. For whatever reason – and they are as varied as each individual seeking to sell a property – the bottom line is that you need to expedite the process, receive funds and start the next step in your life journey. How do you do it?
When You Need to Sell a House Fast
A conventional house sale can take months… and that is in a so-called ‘hot market.’ There is, to use the common vernacular, a great deal of red tape that accompanies this process. Engaging an estate agent. Valuations. Viewings. Waiting. Offers. Rescinded offers. Waiting. Negotiations. Waiting. Accepted offers. Contracts. Waiting. Completion. It can certainly feel as if there is more waiting than anything involved.
If you wish to sell quickly, a traditional route may not be the right choice for your situation. That said however it is important to do your due diligence, as it were, and answer any questions about the procedure and about your options that you have. This is what we will do here.
To begin: is there any alternative when you need to sell a house fast? Yes. Rather than taking a typical route – which usually involves an estate agent, solicitors, fees, expenses and of course waiting! – you may consider a We Buy Any House solution. This is a company that invests in houses either to renovate and resell or to hold on to as a rental property. This is their business, their niche, so their operations are streamlined and accelerated. Rather than waiting six months or longer to sell, you can complete the process in under three weeks in most cases.
However it is important to take a few preliminary steps before you fully engage with such a company or certainly before you accept a formal offer. These include:
- Evaluating your current living situation. Why do you want or need to sell your house? Do you need to relocate? Escape from burdensome expenses and maintenance? Again, whatever the case, make sure you are clear on your goals – and on the funds you need to achieve them. Another very important question is: where will I live when my house sells? Do you have another property waiting? Perhaps you need the cash from your sale for the down payment. Will you now rent? Be sure that you have a plan going forward.
- Inquiring about your mortgage. If you are paying on a mortgage, there may be fees associated with paying off the loan early. In some cases, you may be able to transfer your mortgage to a new property, provided that it meets the lender’s approval and you meet affordability criteria. Ask your financial institution to be sure you fully understand any expenses that will be levied onto you.
- Take care of any issues regarding your house. In many cases, it may be necessary to complete a few repairs or ‘spruce’ up the property to make it more appealing to buyers. When you choose to go with a We Buy Any House company, this may not be as vital to you, and you may prefer to hold onto that cash in order to fuel your next moves.
- Decide on an acceptable price point. What are you willing to accept for your home? This can be a sticky line of thought for many owners as they tend to either over-value their properties. Have a realistic price in mind, given the neighbourhood, the age and state of the house, the size and whether there are issues that may be a detriment to its value (e.g. faulty wiring, leaking roof etc.).
- Research companies that specialise in situations where owners need to sell house fast. Again, these companies focus on accelerated transactions that can put you in a good position for your next steps. This may be the most advantageous way to free yourself from a house that is too costly to maintain, that is too big or small, that has some issues that will impact its value, that has sat on the market for too long, that is in danger of repossession… Whatever the specific circumstances, you may well find that these investors are your best option.
If you need to sell a house fast, it may be beneficial to forgo the traditional sales process and work with a company that can deliver fast results – and fast cash.