Do you want to sell your house fast for cash? Are you looking for tips to sell a house in Memphis, TN? Then, this post is just for you. It can be frustrating to sell a house in today’s market. It is even harder for people who cannot wait for 3 to 12 months. The real estate market in Memphis is one of the hottest. There is a high demand for property. There are certain things that you need to know about if you are interested in selling your house. You need to be prepared for the rapidly changing real estate market. So, if you want to sell your house fast for cash, you need to read on. The following tips will help you sell your house.
- Know the Value of the House
The first thing that homeowners need to do is that they need to determine the value of their home. Research the value of property in your neighborhood to estimate the actual worth of the house. It might be a good idea to consider hiring a professional such as a property surveyor to give you an idea of how much the property should be sold for. Setting the right price for the house is crucial if you want to sell your house in Memphis fast. When you set the right price for your property, you manage to attract more potential buyers.
- Renovate, Maintain & Clean
In order to fetch a higher value for your house and to get buyers interested early on, you need to make sure that your house is in perfect condition. The property should be thoroughly cleaned. Consider hiring a professional cleaner to help clean your house. Maintain the existing fixtures and replace old items with new ones. Moreover, the house should be renovated as a whole to offer trendy vibes. A bit of repainting goes a long way in catching the eyes of buyers. Renovate your old house and transform it into a modern one.
- Tell Everyone You Know
The key to selling a house fast for cash in Memphis is by letting everyone you know that you want to sell your house. Nothing travels faster than gossip. Tell your colleagues, friends, and family members that you are interested in selling your house. They can ask around to make sure that you get some potential buyers to visit your house. Chances are that they would know someone who wants to buy a house. Contacts go a long way when it comes to selling a house in Memphis. Moreover, it also allows you to trust the other person. Besides, you can even ask your neighbors to get involved. It is always a great idea to have more people. Sometimes you never know who could be looking for a house. A random conversation with a neighbor or even at the local grocery store could lead to a sale.
- Notices and Posters
Although posters might seem like a thing of the past, people still tend to notice posters and any other forms of physical announcements. Place a placard outside your house so that passersby can look at your house and if they are interested, can make an offer. Make sure that the message is simple. A sign that reads “For Sale” should be sufficient.
- Online Selling
Nobody is going to visit your house if you merely place a placard that reads “For Sale” outside of your home. The internet is the first place that anyone would head over to. There are plenty of websites that allow you to advertise. You can also advertise on Google search results pages to reach a wider audience. Online classified ads websites should be relied upon. Post an ad on different websites to target more prospective buyers. If you want potential buyers to take an interest in your house, you need to craft an appealing description for your house. However, the description should be concise. Moreover, the pictures that you post for the online ad should contain high-resolution pictures. Consider hiring a professional photographer to help take amazing pictures of your home.
- Open House Viewing
In order for potential buyers to place an offer, they need to first see the house in person. After all as the saying goes “seeing is everything”. This is why you should practice open house viewing so that you are better prepared for the open house before you host one. Make sure to provide an interesting house tour to potential buyers. It allows them to picture themselves living in the house. You need to be careful with who you bring over for the open house. There is always the risk of fraud which is why you should be vigilant at all times. You could invite a friend to help you with the open house. Gather more information about the buyers before you invite them to attend the open house.
Options to Sell a House
There are three main options that are available for selling a house. You can either hire a realtor to assist you, go about it on your own, or sell your house to a house buying company.
- Hire a Realtor
Not everyone knows how to sell. It is a skill. Sometimes, you need the help of a professional. If you want to sell a house fast for cash, then your best bet is to hire a real estate agency or an expert in the field. Most home buyers require an approval from a real estate agency before they make an offer. It might be a good idea to hire a local estate agent if you want to sell your property for the best price. Besides, when you hire a realtor, you can be rest assured knowing that the realtor would do all the work.
To find a realtor to work with you, you need to contact various real estate agents to determine whether they are interested in helping you. Once you have a realtor on board, you will need to sign the listing agreement confirming that you allow the agent to represent you and sell your property. The agent would list the house on multiple listing services. Thus, potential buyers will express their interest in your property. The realtor would handle all of the legal paperwork and would negotiate with the buyers on your behalf. However, you will need to pay commission fees to the agent for helping you. Normally, realtor’s fees are based on about 3 percent of the total purchase price of the property. The agent that represented the buyer would also charge another 3 percent. You will also need to take into account all the potential closing costs which are to be shared between the buyer and seller. On top of this cost, you should also account for costs for upgrade and changes to the house. The time period for selling a house through a realtor varies from place to place. But, you would have to wait anywhere from 3 to 12 months. In recent years, there have been more cash purchases. You should ask the realtor to research the latest sales on multiple listing services to find out buyers who had purchased properties on the basis of cash.
- Realtors have knowledge of the market and can help you sell your house for the best price.
- Real estate agents will handle the marketing, house showings, and closing.
- Agents charge high commission and closing fees which would reduce your profit from sale considerably.
- Traditional marketing methods are used by realtors. Such methods take a long time to provide any positive results.
- Closing delays are quite common as realtors focus on buyers who want to live in the house instead of those that have good liquidity.
- Sell Your House on Your Own
It is completely possible to sell your house by yourself. Unlike in the past where the only way to sell your house on your own was by knowing someone who was actually interested in the party, now you can simply use the internet to find someone on your own. A great thing about selling your house by yourself is that it helps you avoid having to pay those hefty agent fees. Besides, if you are perfectly fine with doing the work by yourself, and can wait for about a year to sell, then you can go at it alone.
When you sell your house on your own, you get to decide the value of the house and can simply hire an appraiser to determine its true worth. Moreover, you can either take pictures of the house yourself or hire a professional photographer to help you. Finally, you will need to sign up for any of the websites that allow you to post an advertisement to sell your house. The site will allow you to attract prospective buyers. You will also need to handle all of the showings, offers, and the paperwork. It is advised to hire a real estate attorney to handle all of the legal paperwork for you. The only costs that you will incur include multiple listing site fees, renovation costs, and closing costs. However, you might also need to pay attorney fees and photography charges. Generally, it should take you at least 6 months to sell your house by yourself. Getting paid in cash may not be as easy when you go at it alone. However, there are plenty of buyers that do not mind purchasing property with cash.
- You end up saving a ton of money which you would have wasted on agent fees.
- Complete control over the entire sales process.
- Can be stressful.
- You might not sell your house for the best price.
- It would take you more time.
- Handling paperwork is not easy.
- Sell Your House to a Home Buying Company
Finally, the third option which takes the least amount of time and is the fastest of the three is a home buying company. Selling your house to a home buying company will help you save up a ton of time. You would not have to wait for 6 to 12 months to sell your house and instead can sell it in as little as a week. Yes, you read that right. A home buying company will buy the house from you as quickly as you want and in the present condition of your house. You will not have to worry about renovation costs, closing costs, and any commissions. Choose the best home buying company in Memphis TN for the best price. Sometimes, selling you house to a home buying company is the best option. It helps ease the process and speeds it up significantly.
All you have to do is contact the home buying company and speak with one of their representatives regarding your interest to sell your house. The representative will visit your house on an agreed time to evaluate it. You will be offered a price and you can make sure that it matches your buying criteria or not. You get to decide if the price and conditions are suitable for you or not. If you find the price to be just about right, then you can agree to sell your house to the home buying company. Moreover, you will be paid cash immediately and will not need to wait around. Although you will not need to worry about paying closing costs or any commission fees, you would end up getting less than the full retail value of the property. However, it is your best option since the sale can be completed within just 7 days. The company will purchase the house in the “as-in” condition. Thus, you will not need to spend on repairs and renovations. Fair Cash Deal offers the best prices for your home in Memphis. The company will help you in whatever situation you might be in. Whether you have gone bankrupt, have a probate, foreclosure, divorce, relocation issue, painful rental property, or have inherited property and want to get it sold fast, Fair Cash Deal will make sure that you get the right amount of money for your property.