Many people today are selling their house “by owner” or for cash. In fact, in 2020, 8% of listings were FSBO, or “for sale by owner.” So, is it hard to sell your own house?
Actually, if you put in a little work on marketing, unlike 46% of those that do it, you shouldn’t have too hard of a time selling the house. If you’re not using a real estate, how can you sell your house fast and still make it profitable?
Keep reading to find out how to do all that and save yourself a lot of stress!
Sell Your House Fast For Cash
If you ask anyone if they’d prefer to have their home get sold now or in a few months — maybe — their answer would be obvious. It’s in your best interest to sell your house fast, or risk the price dropping further and further down.
Houses that sit in classifieds or on listings not only drop in price, but as people see it day after day, week after week, they begin to wonder what’s wrong with the place?
Selling your house for cash may be the fastest way and the best way to turn a profit. What’s the process?
- You want to sign the contract your buyer offers you
- Next, verify there’s proof of funds
- Depending on local laws, hire a title and escrow company
- Pass an optional home inspection
- Review the final closing documents and sign them
Is It Really That Easy?
Hiring a title and escrow company may or may not be necessary but it’s usually a good idea. They make sure that there are no liens on the property and the property lines are correct. They also make sure that ownership changes hands in the eyes of the authorities.
The escrow company will help manage closing documents and facilitate the transfer of money from one account to another. Essentially they record and facilitate the sale.
Sometimes the same company can handle titles and escrow and it is necessary for some places of the country to use them.
Home inspections are a great tool, but not necessary with most cash offers. Many offers do have an inspection contingency to make sure they aren’t getting a money pit. That said, there’s no bank holding the mortgage over your head, forcing you to get one.
If all parties are happy without one, it’s fine to skip.
Cash sales also save you the hassle of renovating or doing any extra work. Cash buyers generally buy homes “as-is” and do their own renovation work. Doing your own would likely be a waste and might lower the value in the eyes of your buyer.
Finally, sales generally go through faster without involving banks, if you have a cash offer on hand. To find cash offers, there are plenty of reputable buyers advertising they buy them. Alternatively, it’s definitely worthwhile to aggressively market your home as available for cash offers.
It saves a lot of paperwork, although there is still some paperwork that is impossible to avoid.
Is It Hard to Sell Your Own House?
So, what do you think? Is it hard to sell your own house?
Not if you chase cash-only offers down and aggressively market. Avoiding real-estate agent fees and commissions, bank fees, and other hassles will do three things. Make things go faster, get you more profit from your home, and give you less stress.
Need more home tips? Keep browsing our articles for the latest real-estate and home advice!