If you currently have a mortgage and you need to relocate, then you may be feeling overwhelmed. You are going to need to figure out how to sell your home as fast as possible, because let’s be honest most people can’t afford two mortgages.
So what should you do? What are your options? Well, you have a couple of options for selling your house, although not all of these options will allow you to sell as fast as you would like.
For Sale by Owner
This is the most appealing way for many people to sell their homes for a few reasons.
- Profit the most money at the end of the process
- Sale your way
- Final say on selling price
We are here to tell you that unfortunately, these are really high expectations to have when selling a home. There are a lot of additional factors to consider, and rarely will any of these reasons actually come true.
First of all, in order to sell your home on your own, you are going to have to put money into sprucing up the place. Whether that's by making repairs or renovations, this will create a large cost for you and will take a chunk out of your “end profit”. When you sell by owner, you’ll be able to sale your home your way and make all of the decisions, but you’ll be lucky if you are able to market to interested buyers. When you sell by owner, it’s hard to find the proper marketing resources to make buyers aware of your listing.
If you choose this route, the last thing we want to remind you of is the time. If you are relocating you don’t have time to wait for your home to sell. Selling by owner can take months or even years.
Hiring a Realtor
A realtor can be a great way to sell if you want someone else to do all the work for you. These are some of the benefits of working with a realtor.
- They do all the work
- Marketing and listing resources
- Sell faster than for sale by owner
A realtor will take all the photos of the home, they will give you tips on the presence of the home, and they will list your home on buyers listing sites. This is nice because more people will be aware of your listing than if you sold the home on your own. One thing that a realtor will expect though is for you to make repairs or renovations. Like stated above, this is something that can become expensive and it will cut into your profit of the home. Realtors also want 4-6 percent of the final selling price of the home. Although a realtor can generally sell your home faster than you would be able to on your own, this option can still take several months.
Working with a Cash Buyer
A cash buyer is someone that purchases homes with cash. They will buy any home as is, which means you won’t have to make any repairs or renovations. You simply move your belongings out and you’re done. A cash buyer has the cash in hand waiting for you, so once you accept the offer you can be moved out in seven short days.
These are some of the benefits of working with a cash buyer.
- Sell as is
- No renovations or repairs
- Save on realtor fees
- Cash offer
- The sale does not fall through
- Quick sale
- Relocate mortgage-free
One of the greatest benefits when selling to a cash buyer is that you will be able to sell your home as is. This will not only save you thousands of dollars, but it will save you precious time. If you need a quick sale, a cash buyer is your best bet to get that done for you. You will save on high realtor fees, which can help with your next home purchase. If you are able to relocate without a mortgage holding you back, then you will be able to buy your next home. No need to have to downsize to a small apartment. Get into your new dream home as soon as possible.
A cash buyer does not fall through. Because they have the cash in their hands waiting for you the long closing process is cut to only seven days. Cash buyers don’t have to wait to get approved for a consumer loan so this allows them to close in a short seven days.
Here at Enlight Homebuyers, we are experienced cash buyers. We want to help you get to your next destination as smoothly as possible. Give us a call today at 505-227-8865. We are excited to hear from you and look forward to working with you.