Have you had something happen in your life where you need to sell your house fast in Onondaga County?
Sometimes in life, there are things that force the need to liquidate a property sooner than we expected. This can be due to a number of reasons, from the likes of:
Job Relocation
Divorce
Inheritance
Family Death
Property Taxes
Unpaid Mortgages
Foreclosure
Probate
Downsizing
Property Repairs
And Much More..
However, there are also times where even though there is a motivation for a fast sale, you will still be looking for a retail price on the property because the current condition of the property is good / great. This will call for a different approach to preparing the property, resource involvement and pricing strategy.
Even though you do not intend to sell the property at a discount (which typically will draw the quickest sale) there are still tasks you can complete to increase your odds of fast sale.
Best Way To Sell My House If Repairs Are Needed
If you are in a position where you are looking to sell your house fast but it is in need of repairs, you will be forced to sell the property at a discount in order get the property sold at speed you are looking for. Typically the fastest way to sell any property is by finding a cash buyer to purchase your property. The reason for this is because you will not be going through a bank, there guidelines and stringent requirements. This will increase the speed of sale by about 60-90 days or 2-3 months.
Also, if you are trying to sell a property that is not in livable condition, then you will not be able to get bank funding on the property from a potential buyer. As you probably know the majority of the deals that are closed on in Onondaga County are done through bank financing. The problem with bank financing is that it can take a tremendous amount of time and typically you will have to jump through hoops to finalize a closing.
So I am sure you are asking... what are my option's when selling a house with a lot of repairs?
1) Selling To a Real Estate Investor - Your first and best option when you need to sell your property fast is going to be to reach out to a real estate investor or a real estate investment business. This will cut out the middleman. You will not have to deal with a real estate agent. You will not have to go through the hiring process and you will not have to pay any real estate commissions. Real estate investors have the ability to buy the property in cash or use other peoples money to purchase your property in cash. This will have the same influence on the closing, in that it will be fast.
If you are considering contacting a real estate investor, make sure that you do your due diligence on the individual or the business to confirm that they are actually buying properties.
2) Listing With Agent on MLS - Your next option is going to be to hire a real estate agent and have your property listed on the MLS. This option has its pros and cons. By listing with a real estate agent, you will possibly get more exposure, which could possibly draw a higher price (in numbers). Although you are receiving a better price in numbers, you may not be netting more money when it comes down to it. When looking to hire a real estate agent, make sure that you hire a real estate agent with connections to investors because these will be the individuals that they will be selling the property to.
One of the main variables you will want to look at no matter the delivery of the sale, will be the sales price. Make sure that you list the property in the right price range that will draw great attention and allow for a fast sale in Onondaga County.
Selling For Retail With Minor / No Repairs
Not all fast home sales in Onondaga County have to come from a distressed property or a property that is in need of repair. However, just let me say that the speed of the sale is different. Typically when you are selling a property for a retail price (especially in Onondaga County), you will have a bank financed buyer who is purchasing your home. This means that your minimum sale date from contract to close will be 45-60 days. This is because the buyer will have to fulfill all of the bank's requirements, issue a clear to close and the title company will have to gather the necessary documents to move forward with the sale. Let's discuss some of the ways you can improve your odds for a quick sale when looking for a fast sale.
1) Price It Right - If you are looking for fast sale when selling for retail or close to retail, the number one variable will be how the home is priced. How the home is priced will determine the exposure, the number of people who are interested and how many possible offers you may get on the property. You want to be in a position where you are asking for as much as possible but not so much that you turn your prospective buyers away. One way that we will determine the best price for our house will be through a comparable market analysis. A comparable market analysis will give us some detailed information that we will need to make a data driven pricing decision. Some of the variables, we look at in a CMA are:
Location
Square Footage
Style
Structure
Overall Condition
Amenities
Finish Level
Bedrooms
Bathrooms
Lot Size
And More
This is a fairly straightforward process but you can always use the assistance of a professional (real estate investors or agent).
2) Enhance Curb Appeal - One of the first parts of the property that your potential buyer will be looking at is the curb appeal of the property. Let's face it, homes with higher curb appeal, tend to sell for more and take less time to sell. The question that commonly comes up is which projects pump up the curb appeal the most. Let's take a quick look:
Wash The House - Power Washing
New Paint / Paint Touch Ups
Roof Maintenance / Repair / Tear Off
Tighten Up The Yard
Replace The Mailbox
Replace The Garage Doors
Paint The Front Door
3) Clean / Declutter / Neutralize - It is important to declutter your home so it appears to have large open spaces with some extra storage space. Potential buyers want to make sure that they can fit all of their belongings in the property as well as have some extra room. You want to make sure that your home is as clean as possible when you are showing. Also, if you do have some exotic wall colors or personalized belongings in the house, try and neutralize these times. So where should you focus your time:
Kitchens
Bathrooms
Laundry Rooms
Clothes/Closets
Office
Kids Rooms
4) Pet Cleanup - When we have pets they tend to become apart of our families fairly quick. However when it comes to selling your house, your potential buyers may not be impressed by the presence of these four legged animals. When you are deciding to sell your house, you may want to try and relocate the animal for a temporary amount of time when you are showing the house. If you cannot find a way to temporarily place them when you are showing, we suggest putting them in a pet carrier. We suggest that you do a couple simple tasks to help alleviate the smell, fur and stains:
Replace Carpets
Clean Carpets
Thorough Vacuuming
Lysol
Remove Dog Toys / Dog Furniture
5) Hire A Great Agent - When we say hire an agent, we are just not talking about hiring any old real estate agent. If you want a chance of selling your home for close to retail price in a fast sale, you better have one of the best agents in your area on your team. Here are some reasons that you should consider hiring a "great" real estate agent:
Knowledge Of The Market
Better Access / More Convenience
Negotiations
Handling Documents
Experience
Network
6) Make Small Upgrades - Now this is another task that your real estate agent will be able to assist you with. Your real estate agent will have the knowledge as to what repairs you will have to make to get your house in the condition it needs to be in, in order to sell. Here are some small upgrades that you can make to improve the value of your home:
Create Space
Fixture Upgrades
Painting
Replacing Carpet
Landscaping
Handle Minor Maintenance
Replace Furnace
Paint / Replace Front Door
Small Bath Upgrades
Wrapping Up | Fast House Sale in Onondaga County
As you can see there are different ways to sell a house fast in Onondaga County. You can have a specific motivation behind the sale and the property could be distressed forcing you to sell at a discount or you could just be looking to sell your property fast at retail. The good thing is that you can be successful at both. When you are considering selling your home make sure that you do your due diligence in regards which option will work best for you and your family.
If are looking to sell your property fast and you are ok with selling at a discount for an extremely fast sale due to financial distress or extensive repairs, we would love to set up a consultation to discuss how we can help you.
HS Property Funds
Funds to Help, Problems to Solve
(315) 516-8023
www.hspropertyfunds.com