On average, it can take up to six months to sell a house from the date you list it until the new owners move in, and that’s when the market is good.
During slow times, it can take even longer.
If you don’t have this much time, you might want to consider a different option. Selling homes for cash is a guaranteed method for selling a house fast.
If you want to sell your home today, this is the way to go.
Using this method provides the ideal way to sell a property quickly, but you should aim to avoid making the following six mistakes when selling your home for cash.
1. Listing the Home With a Real Estate Agent
You’ll find some significant differences in the methods you can choose to sell a home. One option is hiring a real estate agent to list the property.
If you hire an agent, you must sign a listing agreement with the agent. This agreement is a contract that states the arrangement you have with this agent, and this contract lasts for a specific length of time.
Signing a contract obligates you to one primary thing: paying a commission to the agent for the help provided for selling your house.
You must pay this commission even if you find a buyer yourself. You must also pay the commission if you sell the house through a different method.
Therefore, if you want to sell your home for cash, do not sign a listing agreement with a real estate agent. If you do, you will owe money to the agent when you sell the house.
2. Fixing, Updating, or Staging Your House
When you decide to sell your house for cash, you are selling to a real estate investor. The investor buys your home as an investment property. The goal is for the investor to make money from the deal.
One of the common mistakes people make when selling to investors is putting work into the home. You should not fix, update, or stage your house if you plan on selling it to a cash buyer.
Cash buyers do not expect sellers to do these things. They purchase homes as-is, which means they will buy it exactly as it sits.
Fixing, updating, or staging your house costs money. Why spend money on the house if the buyer doesn’t expect you to invest in the property?
3. Expecting an Unrealistic Price
The third mistake to avoid making is expecting an unrealistic price for your house. Cash buyers pay fair prices for homes, but they do not pay market values. They typically offer amounts that are just under true market values.
Therefore, you can expect a reasonable price for your house, but you should not expect to receive the full value.
The good news is that you will not have any fees, costs, or expenses when selling to an investor. You will pay no closing costs, commissions, or repair bills. The price they offer is the amount you will receive.
The benefit of this is that you won’t have to wonder how much cash you’ll receive at closing. You will know the precise amount as soon as the investor makes an offer that you accept.
4. Failing to Create Your Move-Out Plans
Another mistake to avoid making is forgetting to create your move-out plans. Do you know that it takes just a week or two to close on a house sale with a cash buyer?
When the buyer pays cash, it eliminates the need for inspections, appraisals, and title work. These are the things that cause delays in closings, and it takes time to get all these things completed.
When you don’t need these things, you close much faster. The downside is that you might fail to get your plans ready for moving out. If you fail to make these plans, you might have to rush around figuring out where to move to or what to do.
5. Spending Money on the Home
While it’s always good to complete proper home maintenance activities, you can stop doing these things when you find a cash buyer. Spending money on the home is pointless if you sell the property for cash.
Many people make the mistake of investing hundreds or thousands of dollars into their homes before selling them. While you might have to do this if you sell through a real estate agent, you will not have to do this for a cash sale.
In fact, you shouldn’t spend any money on the house if you plan on selling it to an investor. You will waste your money if you do, so try to avoid this common mistake when selling a house for cash.
6. Talking to the Wrong Buyers
The final mistake some homeowners make when selling their homes for cash is talking to the wrong buyers. Selling a home for cash is easier than selling with other methods, but you must make sure you work with a reputable buyer.
Talking to the wrong buyers might result in problems. You might find buyers who aren’t willing to pay reasonable prices for your house. You might also find some that try to scam you.
You can find reputable buyers in Baltimore, MD, that pay fair amounts for all homes, and this is what you should aim for as you prepare to sell your home for cash.
Selling Homes for Cash Is Safe, Easy, and Effective With the Right Company
You can sell a house through any method you prefer, but there are few ways to sell a house quickly.
Selling homes for cash is the best option you have if you need to sell.
Would you like to learn more about selling a home in the Baltimore, MD area? If so, call us. We can help.