Do you need to know how to sell your house fast while moving? There is a lot involved in buying a house and selling a house at the same time, but there are steps you can take to be completely prepared! Below, we created a guideline of detailed steps and considerations to help you through this common process.
The very first thing you should do when deciding to sell your house fast while you’re in the middle of moving is to investigate the current market. This gives you an advantage when dealing with both agents and buyers, and will help you right-size your own expectations. When investigating, consider the following:
The next few suggestions’ order can be swapped, but the next thing you should do is to get as much information about your own property as possible. An agent can help you determine the price of your house, but having hard facts ahead of time will give you an advantage with buyers, and will speed up the sale of your house since your agent will have less leg work to do. Getting your house appraised gives you a great general idea of the price you can offer. Buyers who are pre-approved for a loan will know exactly what price they can afford, so this information will be very helpful to them. Additionally, having an inspection done will shorten the negotiating process, as buyers will already know exactly what is wrong with the house (and so will you).
Understanding WHY exactly you want to sell your house will help you to know what you are willing to compromise on when the selling and buying process begins. While it is important to communicate this to your agent so they understand your specific needs, you do not want to share this information with sellers when you look at houses to buy. If they know what you can compromise, you may not get the best deal.
Make sure you get an agent that understands what you want and is willing to listen. Make sure they know that timing is crucial, and that they are knowledgeable about your neighborhood, and the neighborhood in which you want to buy.
After your inspection, you should already have a good idea of what you want to fix and what you are going to leave alone. Your agent can also help you decide what repairs, if any, will give you the biggest bang for your buck. Ask your agent what repairs will increase the value of the house the most, and what repairs if left alone won’t affect the selling price much.
Preparing the house for sale includes repairs, but also includes things like landscaping and staging the inside of the house. We talk about this all the time, but it bears repeating. Consider repainting and new carpet using neutral and universally liked colors. Anything too specific or creative might limit your buyer’s ability to picture themselves in the home – give them a blank canvas! Some sellers choose to have a house professionally staged, but if that isn’t an option, just make sure to keep your house extra-clean and clutter free. Make sure your furniture is arranged in a way that makes best use of each space, especially for rooms that are unusual.
We could write a whole post on this! Here are some suggestions:
This last part is the trickiest: the timing of selling your old house and buying a new one. Ideally, you want both closings to happen on the same day or within a couple days of each other, but obviously things don’t always work out this way. That is why we suggested above that you try not to sign on your new house until someone has signed on your old one. Financially, it would be better to rent a hotel for a few nights or weeks than to pay two mortgages, etc., at the same time. One option for owning both houses at the same time, if there is no way around it, is to utilize bridge financing.
If all this sounds like a LOT to worry about…it kind of is! But people like you do it every day, and the process won’t be new to your agent.
Another way to create a smooth transition from one house to the next is to work with real estate investors like Lisa Buys Austin Houses. While you may not get the full price for your house, you also won’t have to worry about paying for agents, repairs or staging, and you will know exactly when the house will close (you get to choose!) You will also have guaranteed cash in hand at closing, so you don’t have to worry about a buyer’s financing falling through.
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Lisa is a local real estate investor in Austin Texas.