Things You Can Do To Speed Up The Sale Of Your Home
“Sell My House” Fast! As-Is please!
Don’t lose money trying to sell your home to a “fast cash” buyer. You will be selling your home fast, but at a great expense. Those kinds of buyers are looking to pay wholesale prices. You can sell your home fast and still get the full potential profit of your home sale by following a few pretty simple strategies.
“Sell My Home” Fast As Is
Most transactions in South Florida real estate are As-Is transactions. In most residential sale contracts, the buyer has a unilateral right of cancellation to be released from contract during his or her inspection period. It is during that inspection period that the buyer takes a deeper look at the home and decides once and for all if it’s the home for them. Of course, buyer and seller can agree to 0 days inspection, in which case there would be no inspection period.
If you have the option of choosing a buyer who seems less fussy, or gives the indication that he or she won’t be scared off by the repairs on an inspection report, that is best. For the most part, if you can see it when you show it, then you can expect a buyer to know it’s there before the inspection. It’s the repairs that only show up after inspection that can be deal killers, such as plumbing issues, foundation issues, roofing problems, etc.
As a side note, many homes in South Florida have termites. Termites make their rounds every year and even houses that have been tented in the past will need tenting again in the future. Termites are something we deal with and as long as the home hasn’t suffered irreparable structural damage, then a good tenting from a qualified termite expert should solve your problem.
Here’s A Blueprint For Selling Your Home As Fast As Possible
Step 1. Hire a local Realtor® with expert marketing and negotiation skills and a good working knowledge of your neighborhood sales and inventory.
This Realtor® is going to know what the best price to list your home is so that it gets the most activity when the listing is launched. He or she will look at comparable sales and days on market and determine the best possible price to list your home so that it musters up a lot of competing and eager buyers.
He or she will be able to see the home prices for the properties that sold within your ideal exit timeframe and can advise you where your home fits within that range.
Then, of course, your Realtor® is going to get to work on marketing your property to potential buyers and their agents. This can include strategies such as real estate website syndication, open houses, email marketing, and more.
Step 2. Clean Up
Everywhere you see dirt or grime, get out a bucket and soap and wash it clean. If you can’t afford to paint the interior and exterior of your home, have it washed with soap and water. This means surfaces around door knobs, on cabinets, floors, and kitchen back splashes.
Cleanly calk the bathtub and anywhere else mold and soap scum may have acquired over the years. Do your best to make it look like no one has ever used the bathroom, regardless of the age of the fixtures you have.
Dust everywhere. Don’t forget under the beds and the curtains and blinds.
Organize your stuff. Put away some of the knicknacks if you can. Better yet, take most of your stuff and put it into a POD or other mobile or off-site storage if possible. The more minimal the interior of a home looks, or if not minimal then well staged it looks, the better. More stuff in your home means your potential buyers can’t see past it to imagine themselves living there.
Step 3. Invest In Worthwhile Improvements
You don’t have to spend a lot of money if you are short on funds. Spend a little smartly and you will reap the benefits at the closing table.
Mow your lawn if there is one. Every week. Spend $50 and go get a few pallets of pretty flowers and plant them near the entry.
Paint your front door at the very least. Experts say yellow or red and other experts say green or blue. No one can decide which color is best. Choose a color that looks classy and coordinates with the other colors of the house.
Rent a pressure washer and pressure wash your sidewalks and driveway or pay someone a little to do it for you.
Go around the house the way a potential buyer would and fix anything that doesn’t work including sticky doors, squeaky floors, etc. Oil up sliding glass doors and clean the glass to let the sun shine through.
Step 4. Take Good Photographs For Your Listing
Take great photos of your home, the best photos you can, without being misleading as to surprises a buyer might find when arriving. Things like, couches dumped in a pool (this is something I’ve actually seen) or giant gaping holes in ceilings. It’s okay to take pictures of those things and include them in the listing. It’s better buyers are aware of the whole picture so that when they arrive they can focus on the home’s positive attributes.
You don’t have to hire a professional real estate photographer though they are reasonably priced and if you’re in a luxury market it’s almost standard to do so. However, if you have a Realtor who happens to take great photos then you can probably save your money.
Step 5. Lighten Up
Open the blinds, let the sun shine in and invite your buyers to smile. Thick, chunky fabrics closed on the windows during showings of the home are the real estate equivalent of wearing wet socks to dinner.
Step 6. Offer Proper Compensation
I can’t say it enough. Offer proper compensation to the agents who are working diligently on selling your home. Your home will sell faster if the buyer’s agent is offered full commissions. Also, you can offer incentives to the buyer’s agent such as paying an additional $1000 if it’s sold by a certain date.
Sellers who cut into real estate agent commissions, even a little, suffer in time and money. Why would an agent sing the praises of your home to their precious buyers when another equally suitable house has a seller offering a more respectable commission?
Step 7. Once You Get An Offer You Like Make Sure To Properly Vet The Buyer/s
You can really hang up a deal picking the wrong buyer. Make sure your Realtor® takes the time to vet the buyers. You can request qualifying info from the buyer’s loan officer with their permission. You can also go so far as to request a full DU from the loan officer. You should request proof of funds to close. This step is especially important when you are buying another property to move into in which the closing dates are coordinated based on the sale of your current home.
What If The House Needs Repairs?
Some houses have too much deferred maintenance in order to sell to a buyer who is financing. Sometimes you can sell a home to a buyer who is financing conventionally but not to a buyer who is financing FHA. It depends on the needed repairs or extent of repairs.
If you can fix these items, that is ideal. But sometimes needed repairs are out of the scope of what a seller can handle physically or financially. In these cases, if repairs are too costly or out of budget, your best bet is to list the property as a cash only, as-is transaction. You will still run into those “fast cash” kind of buyers, but you will be marketing your property to a much, much wider audience of buyers which will allow you to sell for the highest possible price.
Selling or Buying A Home In Pompano Beach, South Florida
Call me! I know this market like the back of my hand and I would love to extend to you my 15+ years of real estate appraisal and sales experience.
Let’s discuss your real estate goals and I’ll get to work on helping you meet them.
As always, if you or anyone you know is in need of a great Realtor® in Pompano Beach, Fl, please consider calling me. It would really make my day!