Selling a House Quickly During COVID

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Buying and selling a property can be stressful and emotional. When you need to make a sale quickly it can lead to more pressure and you may make mistakes that normally you could avoid. If you are looking for a quick sale then you may already have some other pressures in your life, perhaps financial or another reason to need to offload your property.

Now with the pandemic stretching into 2021, finances are uncertain for many people, and selling a home could be more difficult. During the initial lockdowns, house sales dropped to the lowest levels for 13 years. If you need to sell a home quickly what is the best way to do this? Are some methods better than others? Here are some ways that may work to help you make a quick sale. 

Sideview of house with big windows
Photo by Stephan Bechert on Unsplash

Things you need to know when selling a home

Depending on how you are going to try and sell your house there are some factors you need to consider. If you are after a quick sale you may disregard some of this advice but normally you may want to think about the time of year you are selling. In winter months and around holidays house sales slump. This is due to people not wanting to go out in the cold and also because of plans for celebrations taking up time.

If you choose to sell your home by yourself with no agents then you will need to check local laws and depending on your country or region you may need to provide Energy Performance Certificates and meet other legal requirements.

When you set your price give it some serious thought. You want to get as close to your asking price as possible but of course, buyers will want to negotiate so you need to set a price that attracts them but allows for some wiggle room that still leaves you happy. 

Living room with chairs, sofa, table, coffee table and plants
Used with permission of Atelier Noël

Ways to sell your home quickly

There are several ways to sell your home and people have been known to be quite creative, even using raffles to sell their houses. However, this is not always legal and needs to be approached with caution. There are a number of other methods that you can use to sell and they all have advantages and disadvantages. 

Sell your home at auction

By selling at an auction you are bypassing the real estate agents and going straight for a group of buyers that have come armed with cash and a desire to purchase a property. The advantages include having competitive buyers bidding on your home, having a deposit secured, and being able to sell quickly.

The negatives, however, include there is no guarantee of a sale and if you do sell it may be for considerably less than on the open market. 

House entrance
Photo by fran hogan on Unsplash

Real estate agencies

A professional real estate agent will provide advice and assist with marketing. They may advise you on making simple changes to increase the house value and it is in their interest to sell your home so they make their commission.

The problem lies in the time it may take to sell. You are looking for a quick sale and there is no guarantee of that. Some houses take months or even years to sell. 

Sell to a property investor

These groups or individuals are constantly looking to purchase homes. They will be ready to buy a property quickly and smoothly. Finding one is as easy as searching online for we buy houses in Baltimore, for instance. Once you have found an investor then you can ask for a price for your home.

There are numerous reasons for wanting to sell quickly. If one of these is simply that you need the money and you cannot get a re-mortgage then a sales-leaseback transaction might be for you. A big advantage of using a property investor is that you may be able to rent the property back. This is called a sales-leaseback contract and allows you to get to sell your home and remain in it.

Because these are investors they will want to make a profit and you may not get as much as you could eventually by selling through an estate agent however, this is the only guaranteed way to sell quickly. 

Kitchen with bar table, chairs and big window
Used with permission of Atelier Noël

Sell your house yourself

Another way is to sell the home yourself. You will need to take very good photos and market the house yourself. You will need to understand how to stage your home for sale and it could become quite stressful with no guarantee of a sale.

Summary

Although it takes time to sell a home normally there is one way that is speedy and will put money in your bank swiftly, that is using a property investor. If you want to make the most money possible then a real estate agent is probably the best bet but for speed and a guaranteed sale then you have to consider using property investors. Thanks to charmcitypropertysolutions.com for consulting.

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