In a perfect world, you could prep your home, list it and then wait for an offer that doesn't make you cringe. But what if you need to sell your home yesterday if not sooner? Maybe you have a family emergency, or you've just taken a dream job on another coast that's impossible to decline. You might not get an offer for its full market value. But if you really need to sell, working aggressively can make it happen.
Here are 4 tips for getting out from under a house that you desperately need to sell.
Splurge on Photography and Marketing
The majority of real estate listings look similar. Photography is marginal, and any information about the listing is either sketchy or it's condensed into a series of abbreviations and acronyms. If you need to sell fast, make your listing look spectacular.
Splurge on photography instead of letting your agent snap a few shots using a phone. Just be sure that your home is ready for its close-up. And when it comes to marketing your home, go all out on descriptions. It might have 3 BR and 2 BA, but a listing that says it has three spacious bedrooms that overlook the gardens and two updated baths with marble tile gives buyers a much better description.
Set Great Asking Price
Sometimes selling fast means taking a cut in price. If you have ample equity to work with, decide how much you're willing to sacrifice and price the house to sell. If not, lower it as much as you can without feeling too much of a pinch.
There's one caveat with pricing a house low. Buyers might be inclined to think that there's something wrong with the property if the price is much lower than others in the area. That's where good "motivated seller" marketing through your agent can also help. Also, consider setting up a blog, which is free and can give buyers access to more photos that you've taken and more information about the property than a listing can offer.
Offering a perk that helps them buy creates a real win/win situation.
Offer Buyer Perks
Nothing gets a buyer's attention faster than perks and freebies. Get creative with offers, and you could attract more buyers. Consider paying the fee for your buyer's home inspection. Offer a home warranty, too.
If you're really motivated, think about paying or splitting the buyer's closing costs. Buyers have a lot of out-of-pocket expenses at the time of the sale. The chance to breathe a little easier at the closing table might bring more buyers out of the woodwork.
Market to House Flippers
"There's no faster home sale out there than to a flipper," says Realtor.com®. You won't have to worry about upgrades or repairs because that's their territory after they buy. And they often pay cash, so there's no financing hurdles for them to jump (or for you to wait through).
Just be cautious about flippers. They might push for an ultra-low price that you're not comfortable with. Unless you truly have no choice at all but to sell, set a bottom line that you won't go below. That will help protect you against unscrupulous flippers who want something for nothing, and who will make a bundle when they flip.
Selling a home is challenging under the best of circumstances. When you have to sell fast, those stressors can really mount. But you can position yourself for a quicker sale and fewer regrets if you take an aggressive stance and stick to it.
To price aggressively, you need to know the market and what your home is worth. Let eppraisal help. Using our free property valuation tool, you'll find the estimated value of your home plus the prices of recently sold homes in your area. It's a great place to learn what you're up against.