How To Sell A House Fast

How To Sell A House Fast

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How To Sell A House Fast

If you find yourself searching Google for how to sell a house fast, the first question you should be asking yourself is: why am selling?  The second question you should be asking is:  How soon do I need my house sold?

Although either question may seem obvious, we are all guilty of feeling a little laissez faire.  If bankruptcy or tax arrears has not put a fire under your bum, then perhaps when you consider you may only 7 have days to resolve these issues you can formulate a solid plan to still come out on top.  With these questions in mind, let’s explore the best options for you.

If you answered:  “I am trying to avoid bankruptcy.” or “My property is in tax arrears and the sheriff is knocking at my door.”, it is fair to assume you need to sell your house sooner than later and you don’t have the luxury of delaying it any longer.

The next question you need to realistically ask yourself (and I do mean realistically) is how soon do I need to sell?  If your answer is:  “I need to sell within days or the next week“, you have 3 options.

How To Sell A House Fast When Facing Bankruptcy Or Tax Arrears

Option One~Hire a real estate salesperson to sell your house.

Although this option may not always be the best option when you are seeking how to sell a house fast.  Realistically, for some areas, to get your house marketed and sold firm within less than a week may be near impossible but you may come across an agent you happens to have someone looking in your area.  Depending on your location, your house may need to be priced well below market value in order to generate a quick sale.  You will also need to factor in the real estate commissions subtracted from your sale price. Ideally after all fees are paid you may still not be able to pay your debt.  Your credit may still suffer but this option provides a chance for a fresh start.

Option Two~Sell your house to a real estate investor.

You can often find these companies, like ourselves, online, in the newspaper, or on signage posted on telephone posts throughout your neighbourhood.  These companies are prepared to pay cash and close within your desired time frame which can be as quickly as 7 to 10 days.

As a seller you will also have the opportunity to negotiate a sale price on your terms that can pay your debtors in full.  In some cases, the stress can be taken off your shoulders almost immediately as the investor can negotiate directly with your debtors and potentially assume responsibility for liens, mortgages, outstanding taxes and other encumbrances. For many home owners who have suffered many a sleepless night agonising over how to pay their debtors, leaving this stress in the hands of someone else and simply walk away debt free is a welcome relief.  In some cases you can also walk away with your credit intact.  This will be your fastest option, not always the most lucrative but that will depend on your how well you negotiate your sale.

Option Three~Sign A Quit Claim Deed With A Mortgagee/Surrender To The Sheriff

This option is the least desirable option.  When you sign this document you relinquish all rights and interests associated with the property.   You simply walk away and leave your property in the hands of your debtors to sell and liquidate as they choose.  This is much like surrendering your property to the Sheriff.  With a Sheriff, you will unlikely have time to remove your most valued possessions and will only be allowed to leave with what you can carry out the door.  Sadly when the sheriff comes knocking you will need to leave immediately.  I don’t recommend waiting for the Sheriff.

How To Sell A House Fast When Divorcing

Let’s say your situation is more domestic in nature such as:  “We are selling because we are getting a divorce.”  Your timeline for selling may or may not be as pressing as the previous scenario.  In situations of this nature the marriage is dissolving as are all the assets.  For some, the strong emotional motivation to sell quickly may be simply the need to have closure.  In this situation if you are considering how to sell a house fast, you want to sell sooner than later.

Option One~You can utilise For Sale By Owner.

This is merely an option to sell, not to sell fast.  There are many companies who offer different price packages and service packages for owners who want to sell themselves.  The success of this option would solely depend on the cooperation of both parties and the service package you chose.  The benefit is you will save on real estate commissions and still get your property advertised on MLS.  If however, there is reluctance and/or resistance by one or both individuals and ultimately a power struggle, this may not be the best choice.

Option Two~Hire a real estate salesperson or two.

This option again is truly dependant on the level of cooperation of both parties.  I’ve been in situations where the clients opt to hire an agent for each party.  If the parties are uncooperative then their respective agents may also struggle to come to a common ground.  On the other hand, if both parties have mutually agreed to dissolve the marriage and sell and can work together, this may be a very successful option.  If, however one party is hurting and does not want a divorce they may be unwilling to cooperate and try to sabotage the sale.

Option Three~Sell your home to an investment company like ourselves.

Investment companies like ourselves are in the business of working with the seller/sellers to come to a resolution. These companies are not only an option for how to sell a house fast but sellers can negotiate additional benefits. Investment companies like ourselves will absorb as much or as little of the property the seller wants to leave behind.

Situation A~Some people don’t want to take anything.

The seller/s want to walk away with a clean slate.  Unlike when selling on the MLS, in these types of sales the seller/s can negotiate to merely walk away without having to clean the place out for the buyer.  In these situations, the seller is relieved of any and all responsibility to leave the home in a liveable condition.  The investment company takes the home “as-is”.

Situation B~Other people may not have enough money or the energy to move to a new location.

The seller could negotiate to have the investment company handle the hiring and organising of movers in addition to helping the seller find a place to move to.

Although there may be other reasons why you are seeking articles on how to sell a house fast, hopefully you have discovered one or two viable options that allow you to formulate a plan to successful plan of action.  Good luck.

If ever you find yourself in a sensitive situation and need to sell your home fast, we at The Trading Post Property Solutions offer quick closes and a multitude of services to make it as pain-free as possible.  Feel free to contact us online or by phone. 905-517-HOME(4663)

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