Rumored Buzz on I Need to Sell My House Fast: What Are My Options? - BHGRE

As such, many individuals going through a divorce are looking for a fast way to sell their home and move onto the next chapter. Water invasion and flooding inflict devastating damage on a home, and a home with a history of water damage can be more difficult to offer. It's also expensive to repair, with the typical water damage insurance claim totaling $7,000.

Comparable to water damage, destruction brought on by a fire is difficult and expensive to undo. Answers Shown Here will ruin your home to the ductwork and Sheetrock. Without adequate homeowners insurance coverage or the upfront money to make repairs, the only kind of purchaser ready to take on your residential or commercial property may be an investor who can pay money and plans to gut it.

Whatever the case, you can either pursue an off-market sale with a money purchaser, or, depending upon your level of versatility, offer on the free market with a couple of shortcuts worked in. Let's explore each avenue. Choice 1: Ask for an all-cash deal for your home When you sell a home, two steps tend to be the most time consuming: In a hot market, houses naturally sell quickly.

But in a regular year, your normal days on market might be more like 35-40 days. A house in rough condition will also take longer than average to sell. A standard purchaser who's preparing to live in the house will choose that it be move-in prepared, and they may need the home to satisfy particular standards for it to pass the appraisal.

Meanwhile, data from Ellie Mae shows the average purchase loan took an average 49 days to close as of April 2021. Even if you do absolutely no home prep and draw in a buyer in record time, you can't speed up this closing timeline so long as there is lending institution participation. This is why, as they state, "cash is king." Selling your home to a money buyer efficiently eliminates both of these weights that would otherwise slow you down.

However, you can take much of the uncertainty out of the process by working directly with an operation that purchases homes for cash. How does selling for cash work? Generally it goes something like this: You avoid the song-and-dance of staging your home to impress, and go directly to requesting a money deal.