NEED TO SELL YOUR HOUSE FAST? PROS AND CONS OF EACH OPTION

The most precious things do not last forever. People who once had something dear to them end up selling them when the circumstance arises.

The same is the case with the house which you once bought and made precious life memories. The need to sell a home can result from several reasons with you requiring fast cash for something important being one of them.

Sometimes people also make considerable losses in their business or any other investment and are forced to sell something valuable to cover them. In such times, the idea is very bothersome since they would have to move to a rented space spending their hard-earned money.

Other times, people are just sick of the long and tedious process and want to just get it over with. Many people sell houses as they have their sights on a better accommodation.

However, selling a house is not an easy process and comes with many variables that you must consider.

ranch style house

The selling price depends on the variety of factors and how quickly you want a return, for it is one of those. First, you must find access to the market and potential clients through realtors or agents which kicks off the process.

Whether you are from New York or somewhere in Charlotte North Carolina, your needs and the variable attached to the process differ.

Many local companies buy houses too, so if you see something like HomeGo buys houses in Charlotte, NC while living in Charlotte, you know what to do.

Either contact the buyer or simply list the ad for your house on a listing website or newspaper. However, the process of home-selling is not that simple. Selling a home fast has pros and cons, which we will discuss in this article in some elaboration.

First, we will discuss the advantages of selling a house fast.

Cash offer

Although we live in a world where banks and virtual money gets a preference, we still love the feel of hard cash in our hands, don’t we?

Selling a house can sometimes be a long and tedious process, and it may involve banks, realtors, and many other factors before your deal see the light of day.

In such a scenario, wouldn’t you prefer an option where you instantly get the cash and get on with your life? Well, you are in luck since selling fast can cater to such requirements.

You do not wait for your buyer to find a bank financier before they can afford to buy a house.

Through mortgages, the home purchase involves an appraisal, which is how the banks ensure that they do not pay more than the value of the house. However, in this process, sometimes, the appraisal comes low, which means that you will get money less than the agreed price.

You can avoid this hassle by selling fast without involving the bank and getting the desired value for your house. You can get away around the hefty commissions of the realtors and get the cash you require directly into your pocket.

Ease

Yeah, everyone gets tired of the cumbersome paperwork and lengthy bureaucratic procedures, which they usually call red-tapism.

According to research, the traditional way of selling can take several months. The traditional real estate route is quite tiring, in which you must cater for hundreds of requirements before you can even think about finalizing the deal.

The banks, lenders, inspectors, and many other parties get involved, just dragging the matter. You can get rid of the whole process if you sell fast and save yourself many months of hassle and exhausting experience.

All you need is a cash home buyer and an agreement suitable to both the parties, and you have yourself a quick deal.

things to do before selling a house

Avoid spending on the house

Going through the traditional process requires you to do all the maintenance of the house and spend thousands of dollars.

A room needs an overhaul, and a kitchen cabinet needs a replacement, and so on. You will invest in something that you will never use and then get no return for such a considerable investment.

Most of the realtors want the house in top condition, while on the other hand, you do not have to go through all of this in quick selling.

Your buyers will know exactly how the house is like, and you both can decide on a reasonable price accordingly instead of going through the hassle. Doing so also shifts the burden of renovation to the buyer.

Now, let us talk about the disadvantages of quick selling.

Fraud

While there are many right buyers in the market, there are still a few frauds who would want to take advantage of your situation.

Going through a realtor minimizes such scams since they have the experience to see through any shady business someone is offering. On the other hand, you, with minimal or no experience, are susceptible to getting defrauded by someone.

The best way to overcome fraud is to do your research and investigate your buyer before doing any business. If you are selling to a company, you might want to check their ratings and reviews from someone who previously did business with them.

Credit scores also tell you about their credit history and what to expect of them in the future. Sometimes the risk of getting ripped off is too vast, and many people prefer the safer approach of selling homes fast the traditional way.

Valuation problems

Sometimes, you might not be able to figure out the real value of your property since you do not have the experience of the market.

Since your buyers are buying the house as-is and there are no commissions involved, they might offer you too low a value.

Though you can still make a profit, the risk is too huge to go through such a convenient and speedy process.

Is it a good idea?

Considering all the risks and benefits, it depends on how you do it. Yes, it can be risky as you lack experience, but if you do enough research, you could end up with a very beneficial deal.

On the other hand, you can also avoid a lengthy process, commissions, and get cash instantly for your house instead of waiting for the banks and lenders.

Key takeaways

Selling houses is a huge deal, and a lot of thought and consideration goes into the whole process.

While the traditional approach of going through realtors is always an option, many people also prefer the quicker way. Selling fast has advantages, such as skipping the cumbersome process and getting a good value and speed.

On the other hand, you are also susceptible to fraud, given your lack of experience. So, it is better to think wisely and ensure that you do not make a hasty decision while deciding between the two.

E. Emmanuel

Emmanuel doesn't want a lot for Christmas, he just wants people to have beautiful and hazard free homes. He loves to write about beautiful things, he also loves to create beauty out of a combination of oddities.