If you’ve had your house on the market for a while and have seen no interest from buyers, it’s understandable that you would be frustrated. And the longer a home sits on the market, the more buyers start to wonder what’s wrong with it.
If you’ve watched the seasons turn (maybe more than once) and still your house won’t sell, you need to make a new plan. Which option is best for you will depend on your personal financial and life situations, but here are the five best avenues to explore.
1. Postpone Your Plans
What if you had your heart set on selling, but so did all of your neighbors? If the market is flooded with available homes (especially if they’re in better condition or at a better price point than yours), it’s going to be tough to make a sale. That kind of buyer’s market often spells disappointment for the sellers.
If you’re not in a time crunch or in a bind financially, your best bet may be to pump the brakes. The real estate market fluctuates constantly, so six months from now your house could be one of only a few available in your area, creating scarcity that will drive demand. If you’re able to hold off, your patience may prove quite profitable.
2. Get an Agent
If you’ve had no luck trying to sell your home on your own, it may be time to call in a professional. You’ll get the benefits of professional staging, photography, and listings as well as someone to coordinate showings and handle the extensive paperwork that comes along with selling a home.
Do your research first, make sure the agent has a proven sales record, and understand the costs up-front. While an agent may be able to help you sell your home on a faster timeline, they will take a percentage of your sales profit for their commission. You have to decide if the trade-offs are worth it to you.
3. Consider a Short Sale
If you’re upside down on your mortgage and scraping to make it by, selling your home quickly can feel like a desperate necessity. But what if you owe more than the house is realistically worth? You’re in a much tighter spot than the normal seller, but you do have a possible out.
If you can speak with your lender, they may agree to the terms of a short sale. This means that you’ll sell the home for the maximum amount possible and pay that amount in full to the lender, even if it doesn’t equal the total you owe them. They’ll agree to take that “short” cash and let you off the hook for the rest.
Be forewarned that short sales are not always an option. (It’s totally up to your lender to allow it.) In addition, these sales can take months or even years to complete.
4. Take Matters Into Your Own Hands
Maybe you’ve had your home listed with an agent and been unimpressed with the results. You could always go the FSBO (For Sale By Owner) route. This means that every penny you make from the sale will stay in your pocket because there won’t be any fees or commissions to pay out.
However, you’ll need to retain and pay a title attorney, and you’ll need to make absolutely sure you fully understand all the necessary paperwork and financial elements of the sale. It will also be your responsibility to make any needed repairs, to stage and photograph your home, and to create and manage the listings and showings.
5. Sell Quickly for Cash
If you’re tired of waiting around for the perfect time or the perfect set of circumstances to sell your home, selling quickly to a cash homebuyer may be your answer. You won’t be required to make any repairs or upgrades, nor will you need to photograph or stage your home. There will be no need to endure months of showings or hand over a percentage of your profits to an agent.
If you’re ready to say goodbye to a house that won’t sell, give us a call. The Buy Guys team works exclusively with individual homeowners, and we can get you a fair cash offer almost instantly and have you at the closing table in 30 days or less.
Don’t let your home become an unnecessary burden. Call today, and let us help you sell.