Since most real estate agents charge between four and six percent commission for selling a house, you could potentially save a lot of money for selling your home for cash without using an agent. Even after paying for advertising your home online, printing brochures and increasing your home’s curb appeal, you could make an extra $5000 to $10,000 on a $100,000 sale.
Here are 9 tips to help you get started selling your house quickly for cash without hiring a real estate agent:
- To expedite a cash sale, don’t make your initial asking price too high. If you are in a hurry to sell you home, you don’t want to have to reduce the price if the house fails to attract a buyer in two or three months. The highest level of activity you’ll see after putting your home on the market is in the first 30 days–so price your home to sell.
- Improve your home’s curb appeal a full 100 percent (unless you’re selling your home “as is”). This means
painting the exterior, planting new grass and flowers, replacing old doors, windows and roofs, etc.
- Depersonalize and declutter the interior of your home. The less clutter you have taking up space in your home, the bigger and more spacious it will appear to prospective buyers. Also, take down religious items and family photographs to make it easier for buyers to envision your home as their home.
- Even before that first open-house guest enters your home, find a title company to process final paperwork. Depending on what state you live in, you may be able to download documents for free.
- Once you have you home ready for showing, start advertising online with websites specializing in getting your house seen by thousands of eager home buyers. More than 85 percent of prospective house hunters use the Internet to find their dream home so advertising online is a must for selling your home quickly without an agent.
- If you are selling a condo or other property that requires membership in a homeowner’s association, you will need two other documents in addition to standard buying and selling documents–an attachment that covers mandatory membership in an HOA and a resale certificate. Be aware that is most states, failure to give the buyer HOA document is legal cause for the buyer to terminate the contract–at the expense of the seller.
- If you have no idea what price you should put on your home, hire a professional appraiser to place a value on your home. Remember, listing your property at more than what it is worth could significantly delay its sale–and getting quick cash in your pocket.
- The residential sales contract is the most important document supporting a real estate transaction. A sales contract covers everything finalized during a sale–terms, purchase price, date the transaction is to be completed, inspection dates, etc. Since a residential sales contract is legally binding once signed, have an attorney examine the contract before signing to ensure everything is in order.
- When advertising your home online, make sure the description includes the words CASH ONLY and in capital letters. If you don’t, you’ll get people (most unqualified) wasting your time wanting to buy your home with a mortgage loan.
If you are really in a hurry to sell your home for cash, you can always sell your home “as is”. This means you don’t have to make any improvements or worry about curb appeal. But you will have to price your house below what you might get if you made improvements. For some homeowners, selling their house for less than market value is something they must do for relocation or financial reasons.