How to Sell Your Home Fast for Cash [2023 Mega Guide]
Life occasionally presents unexpected challenges, necessitating swift reactions to prevent them from overturning our entire existence. Perhaps you’ve been offered a job in a different state, or you’ve come into possession of a house you don’t desire. No matter the cause, opting to sell your home for cash can be an effective method to access funds promptly.
There are several things you can do to help sell your home fast for cash. Read on to discover top tips and tricks for making your real estate sale go as quickly, stressless, and easily as possible. We cover traditional ways to sell your home and unconventional ways to get cash for your home fast.
What Is Selling For Cash?
Before we dive into how you can sell your home fast for cash, let’s talk about what selling for cash means. Many people may imagine that selling a home for cash is somewhat the equivalent of pawning your house.
But in fact, selling for cash simply means that your buyer is paying for the house out of their own funds, rather than working through a lender.
There are two types of buyers who generally purchase houses for cash. The first is private buyers who have saved up a large sum of money and who want to avoid paying interest on a loan. The other is real estate investors who don’t want to manage the hassle of a mortgage.
How do mortgage interest rates at 30-year highs combined with low housing inventory affect sellers in the St. Louis market?
The combination of low inventory and mortgage interest rates at 30-year highs can affect someone trying to sell their home in St. Louis in 2023:
- Slower sales using traditional methods: The combination of low inventory and lower demand is likely to lead to slower sales. This means that it may take longer to sell your home the traditional way and that you may have to lower your asking price.
- Lower sale price using traditional methods: Even if you do sell your home, you may not get as much for it as you would have if the market conditions were different. This is because buyers will have less money to spend on a home after paying for the higher interest rate.
- More competition in the traditional buying/selling market: The combination of low inventory and lower demand is likely to lead to more competition from other sellers. This means that you will need to make your home stand out from the competition in order to attract buyers.
Overall, the combination of low inventory and interest rates at 30-year highs is likely to make it more challenging to sell your home the traditional way in St. Louis in 2023. However, there are still things you can do to increase your chances of selling your home quickly and for a good price. Here are some tips:
- Market your home effectively: This includes listing your home on multiple websites and holding open houses.
- Be patient: It may take longer to sell your home the traditional way in this market, so be patient and don’t give up.
- Press the Easy Button: Skip passed the headaches of the traditional methods and sell your house fast to a reputable cash home buyer like FasterHouse.
Common “Sell Home Fast” Situations
Costly Repairs Are Needed
Sometimes a house needs so many repairs or the repairs are so costly that it seems like there is no chance the home will sell, let alone sell fast.
Homeowners can fall into despair for all sorts of reasons.
Some of the big reasons? Maybe the house is full of unwanted items. Perhaps it has major mold issues? It could have asbestos removal issues. The foundation or the basement could have major leaks that have to be rectified. The roof could be due for an expensive replacement. Perhaps fire damage has made cleaning and repairing the home a time-consuming and expensive process?
No matter the cause, there are still ways to sell homes like this fast for cash.
Read More: Selling a Home Fast That Needs Repairs
In some cases, receiving a house as an inheritance could be a great thing. Perhaps you do not already own your home, or the home you are inheriting is the one you grew up in and you want to restore your memories by moving back in. Or maybe it’s simply larger or nicer than your current residence.
But there are many other instances in which receiving an inherited house might not be ideal. If you already own a home you are happy in, receiving another home via inheritance may be a bit of a burden. Maybe you live outside of St. Louis, so inheriting a home in St. Louis is inconvenient. Or it could be that you want to sell an inherited home to offset the taxes that come with it.
So the answer to whether you should sell a home you have inherited is dependent on your personal situation. Is the home or the cash you could get for it a better fit for you personally?
Read More: Selling an Inherited House Guide
Seniors Who Want To Sell Their Home Fast and Transition to Senior Living
For many seniors, it may feel like the housing market has changed overnight and it’s harder to sell your home. But that’s not entirely true and you’ll see why. The housing market is slowing down and prices have been falling in the latter half of 2022 and the beginning of 2023. That means if you’re thinking of selling your home right now, you might not get as much money for it as you would have six months ago. The good news is that options are available if you don’t want to wait for a traditional sale, which can take months in some situations. You can sell your home fast in today’s slower housing market by working with an experienced home buyer who understands how to prepare you or a senior loved one for a successful transition into senior a living community or whatever your next chapter might be!
Foreclosures are an unfortunate reality of the home-buying process. A home buyer may be well-qualified and well-equipped to purchase a home at the time they are filling out their loan paperwork, but life can throw many unforeseen twists and turns your way.
Life events are probably the most common cause of foreclosure, with these being some of the most frequently cited reasons:
Dealing with a probate situation can be one of the most stressful ordeals a person can go through. Probate can last anywhere from six months to a year. During that time, you may wind up paying for bills related to the home, ranging from the mortgage itself to insurance to upkeep costs out of your Probate Houseown pocket. It can also be stressful in that family members may disagree on how money and possessions should be distributed. When dealing with a probate house in St Louis, you may find that the best option is to obtain cash quickly through an as-is sale.
Read More: Selling a Home Fast During Probate
Renting a home out can be a helpful source of income, but it can also be a serious cause of stress. Finding the right tenants and retaining them once you have them is no easy task. If major repairs are needed, you as the homeowner will be on the hook for covering them. And it’s one extra area to address when filing taxes each year. So if the stress of renting out a home is outweighing the financial benefits that come with it, you may want to consider selling it.
Read More: Selling an Unwanted Rental Home Fast
Home Owners Who Want to Unlock the Value in Their Home Without Moving
Unlocking the value of your home while continuing to live in it may sound like an impossible dream. However, FasterHouse’s lease-back program is designed to make this dream a reality! Our program offers an innovative solution for homeowners looking to tap into their home’s equity without the need to relocate or handle the complications of the traditional home-selling process.
Benefits of Selling Your House For Cash
There are a number of benefits to selling your house for cash, rather than going through the traditional channels. First of all, selling your house for cash enables the sale to move much more quickly. You don’t have to wait for your buyer to get a mortgage processed before you close, meaning you get money in hand much sooner.
Selling a house for cash also often comes with the understanding that the house is being sold as-is. Because these sales don’t have to go through lenders, you may not have to worry about the house being up to code, and many investors may actually expect that your home will need some work.
You can avoid costly and involved repairs and get your home sold ASAP.
Selling Through an Agent
When you get ready to sell your house, whether traditionally or for cash, you have a few different options for how you want to sell it. One of the most popular choices among homeowners is selling through an agent. You pay a real estate agent a commission (usually a percent of your home’s sale price) to help you navigate the confusing world of real estate sales.
Your real estate agent will be able to advise you on everything from how to stage your house to which offers to accept. They can help manage paperwork, handle pricing negotiations, and arrange for inspections. Going this route usually means less stress for you, though it does take a chunk out of the proceeds from your home.
Selling on Your Own
If you want to keep as much profit from your home as possible, you can also opt to sell the home on your own. This method, called for sale by owner (or FSBO) puts you at the helm of your home sale. You don’t have to pay a real estate agent a commission, and you can be directly involved in all negotiations.
Selling to an Investor
Your third option for selling your home is to avoid the listing process altogether and sell to an investor. Real estate can be a valuable investment opportunity, and there are a lot of people in the market for these sorts of investments. HGTV has brought on a whole new wave of people looking to flip homes for a profit, or investors looking to rent the home out.
If you sell to an investor, you’ll still have to go through most of the paperwork for a real estate transaction, but you’ll be able to skip the listing process. You’ll negotiate a price and contingencies on the sale directly with the seller, and the two of you will decide what inspections, if any, need to happen.
Depending on their motivations, an investor may be willing to buy a house sight unseen if it’s in the right location or if the price is good enough.
Get Rid of Clutter
One of the first items on your to-do list is to improve your home’s visual appeal. The nicer your house looks, the more money you’ll be able to get for it. This applies whether you’re selling to an individual or an investor. One of the easiest steps in making your house look nice is to get rid of any and all clutter.
Even if you keep your home clean, you likely have areas that gather things, such as kitchen counters, coffee tables, and bedside tables. Pack away any items sitting on these surfaces, as well as any personal wall décor. Clean out your closets, take down family pictures, clear off kitchen counters, and pack away any shoe racks or coat hangers you may have in your house.
Make Quick Repairs
Once you’ve gotten the clutter out of the way, it will be time for you to start making small repairs to your house. In many cases, it’s a good idea to paint your house in neutral colors – light grays, whites, and soft beiges are best. This will make your home feel like a blank canvas for any interested buyers to make their own.
You should also take care of any problems with the house that are quick and easy to fix. Repair outlets that don’t work, replace doorknobs that won’t turn or lock, and patch holes in the walls. You don’t have to dive into remodeling a bathroom or replacing kitchen cabinets but try to address as many small problems as possible.
Stage Your Home
With your home decluttered, painted, and repaired, it will be time to start staging. Staging is the process of setting your home up so it looks as beautiful as possible. Which selling method you’re planning to use will determine how in-depth you need to go with your staging.
If you’re planning to sell to an investor, cleaning your home thoroughly should be adequate. But if you’re planning to list your house for sale, you may consider getting it professionally cleaned and staged. Professional staging companies will bring in neutral, stylish furniture and arrange it so your house looks like something out of a magazine.
Improve Curb Appeal
When you’re preparing your home for sale, it’s important that you don’t forget about the outside. Your front yard and entrance are the first things people will see when they come to tour the house. Improving your curb appeal can give a better impression of your home and may raise the price.
If you have flowerbeds in your front yard, clean out any weeds, put down mulch, and consider planting some seasonal blooms. Sweep off any sidewalks or driveways, and, if you want to go the extra mile, pressure wash them. Be sure there’s no clutter on your porch or in your yard, keep your grass mowed, replace any worn-out mailboxes, and sweep out any cobwebs.
Time Your Sale
With your house clean and pristine, the next thing you’ll need to do is figure out the timing for your house sale. Like any market, the real estate industry has peak times and slow times. Selling during a peak season can help you get great terms to sell your home fast.
In general, you want to aim to list your home for sale sometime in the spring – May is the best month, if possible. You may also want to list your home on a Saturday, when more people are searching for real estate listings. It’s a good idea to check your local market to figure out exactly when the peak times to list are.
Priced to Sell
If you’re wanting to make sure your home sells as quickly as possible, it’s important to get the price point right. Of course, you’ll want to get as much money from your home as possible. But pricing it a little lower will make investors and private buyers alike jump to get such a good deal on a home.
If you haven’t gotten your home appraised recently, you may consider having that done so you have a good sense of what it’s worth. Then, if you want your home to sell fast, price it about 20 percent lower than the appraisal price. This will give buyers a solid amount of equity in your home and will ensure that it moves quickly.
Hire a Professional Photographer
When you’re listing your home, you’ll want to include pictures to draw in potential buyers. These pictures will be the very first thing anyone sees about your home, so you need to make sure they’re as flattering as possible. It may be a good idea to hire a professional photographer, especially if you’re selling your home on your own.
Not only does a professional photographer have access to premium equipment and lighting, but they also have experience making spaces look as beautiful as possible. They’ll be able to find angles that make your rooms look larger than life and lighting that makes them glow. These pictures will also be high-resolution, which means you won’t have blurry photos driving away buyers on your listing.
Write a Strong Listing Description
After your photographs, your listing description will be the second-most important part of your listing. This is where you’ll have an opportunity to sell buyers on the charm of your house. The photos give them information about what the house looks like; your description will show them what it feels like to live there.
Be sure to keep your sentences short, direct, and descriptive when you’re writing this description. Use plenty of positive adjectives, and highlight the best features of your home, such as your clawfoot tub or the newly renovated kitchen. Also, try to inject a sense of urgency into your description, so buyers feel like they need to act now to get this amazing house.
Hold an Open House
Once your listing goes live, one of the best ways to draw in potential buyers is to hold an open house. An open house gives buyers who may not be completely sure about your home a chance to come see it for themselves. It’s a little more relaxed than a private tour, and buyers may feel freer to be frank in their evaluations of the house.
Make sure you advertise your open house as widely as possible, including putting up posts on social media and in relevant Facebook groups. Set out refreshments for visitors, and print out copies of your listing, complete with information about the square footage of the house, and so on. Be sure to include contact information for either yourself or your realtor, so interested parties can get in touch with you later.
Sell Your Home Fast For Cash
Selling your home fast for cash can be a great way to simplify the real estate transaction process. Decide how you want to sell your home, and then do some work to make it beautiful. Set the price low enough to entice buyers, and host an open house to draw them in.
If you’d like to sell your home fast for cash, check out the rest of our site at FasterHouse. We buy houses as-is in any condition and can close on your timeline. Get a fast offer today, and discover why we’ve been the trusted St. Louis home buyer since 2002.
Take Your Open House to the Next Level
We mentioned earlier that you should host an open house, but depending on the market, it can be hard to get your house to stand out. In a seller’s market like this, your area may be hosting dozens of open houses each weekend. How do you convince potential buyers to come to your open house instead of all those other options?
There are a few ways to take your open house to the next level. Consider throwing a full-fledged pool party, hiring a clown, renting a bounce house, hosting a cooking class, or bringing in live music. You could also ask an ice cream or snow cone truck to come park in front of your house, drawing in your neighbors and any passersby who want a delicious, cool summer treat.
List Your Home Social Media
Post your house listing on Facebook Marketplace under the homes for sale category. You may also want to check for local pages focusing on selling, buying, and renting homes. This will help you target people in your area and people who are looking at moving to your area in your listing.
Talk to a Large Local Business
Another unconventional way to move your house sale along faster is to talk to a large local business. If you have a large manufacturing plant, university, or other company in your area, reach out to their public relations department. Let them know about your house listing, when your open house is scheduled for, and how they can contact you.
While these companies likely won’t be interested in buying your house, there’s a good chance that they’re moving new employees into the area. These employees may need housing, and the company might appreciate the opportunity to pass along the tip about your house. This could generate more traffic and get your house sold quicker.
Get Creative with Your Listing
Too often, house listings are the same basic format: a just-the-facts-ma’am approach with a few generic pictures and nothing more. But as you’ll know if you’ve ever looked at buying a house, these listings can start to blur together over time. If you want to make an impression on potential buyers, it’s a good idea to get creative with your listing.
Consider writing down the story of your house, some of your favorite moments in it, and any quirks it has in your listing. Have some fun with the pictures, perhaps hiding the same item in every picture or telling a story through the listing photos. Anything you can do that will make your house stand out will help you sell it faster.
Livestream a Tour
COVID-19 has made a number of normal life events more challenging, and house selling is no exception. Scheduling home tours has become a much more fraught prospect. Even as vaccines continue to roll out, many people may not feel comfortable going to a stranger’s house for a home tour.
Solve this problem and broaden your audience for tours by live streaming a tour of your house. You can do this on Facebook Live, which may give you the best opportunity for broad views, or through Snapchat. Make sure you announce your live stream ahead of time and send invitations to any especially interested parties.
Auction Your House
In addition to the home selling options we discussed earlier, you can also go a few other routes to sell your home. One possibility is to auction your home at a real estate auction in your area. While these have been traditionally used to get rid of foreclosed homes, they also make a great option for people looking to move their home quickly and make a lot of money. Selling your home for cash to FasterHouse is another realistic option to avoid foreclosure.
If you plan to sell your house at auction, it’s a good idea to attend a local property auction in your area to see what they’re all about. Then do some research on the auctioneers to determine who will have the most experience. You may also want to decide on an opening bid price that’s enough to get people’s interest without being so low as to strip you of any profits.
Auction Your House Online
If going through the hassle of a physical auction doesn’t appeal to you, why not do it online? Online auction websites like eBay have become enormously popular as a way to buy and sell anything from electronics to antiques to cars. But in recent years, this market has also expanded to include online real estate auction options.
If you plan to sell your home through eBay, you need to have a solid idea of what your comps are like. EBay will allow you to set a certain price that must be met before the property will sell. Once the listing is over, you could do the final legal closing on your house in as little as a week.
Trade Your House
You may have heard stories about people who are on a mission to trade a paperclip for a house. This system involves trading items for very slightly more valuable things – a paperclip for a mechanical pencil, the pencil for a fork, the fork for a coffee mug, and so on until you have a house. You could get in on this action by trading your house for another house or something equally valuable.
If you agree to trade houses with another seller, you could avoid a lot of real estate transaction costs. But you will still have to do a full traditional closing before the deal will really be sealed. It’s also a very good idea to get these homes thoroughly inspected before you agree to the trade to be sure you know what you’re getting.
Raffle Your House
If you want to get even crazier with your home sales options, why not consider a raffle? People love a good contest, and what better grand prize could you offer than a whole house? Many homeowners do this as a way to raise money for a non-profit, but you can do this as a private homeowner, too, if you’re willing to take on the risk.
Essentially, your goal is to sell enough raffle tickets that you make the same amount of money you would off the sale of your house. The trick is getting enough ticket sales; too few sales and you’ll be forced to let your home go for a much lower amount of money. You can set a stipulation that a certain number of tickets must sell before you’ll draw a winner, but if you cancel the raffle, you’ll have to refund everyone’s money.
Sell to a Friend or Family Member
If you have a loved one who’s moving soon, why not set up a home sale that will benefit both of you? Your loved one can get a home they know the history of, possibly for a very good deal. And you can avoid some realtor’s fees and shorten your home-buying process a ton, not to mention knowing your home will be in good hands.
If you plan to sell to a friend or family member, talk to your realtor and see if they’d be willing to waive your seller’s commission fee. Since you found the customer, they don’t have to do all the work of listing, advertising, and showing your house. They may be able to give you a discount on fees since the transaction requires less work from them to close.
Sell to a Market
If your priority is to move your home fast and you don’t really care about getting the highest amount of money for it, you might consider selling your home to a market. One of their biggest advantages is that they can get you through the closing process very quickly. They can pay cash, and they know the ins and outs of the entire closing rigamarole.
Of course, you have to keep in mind that real estate markets like this exist to flip houses and make money off them. You may not get the most amount of money possible for your house, since your priority in the transaction will be to move things along quickly. However, this is a fantastic option for people whose houses may not be fully ready for market when they need to sell.
Set Up Owner Financing
If you have your house paid off in full, one great way to entice in potential buyers is to offer owner financing. In effect, this means that your buyer will not have to go through a bank to finance the loan to purchase your house. Instead, they’ll pay you the money over the next fifteen to thirty years, along with a healthy portion of interest.
It is important to note that this is not a good option if you don’t have your house paid off in full. If your buyer doesn’t have the money to pay their mortgage, you could be stuck covering a mortgage with no additional income. But if you own your house free and clear, this can be a great way for you to make some extra money from interest.
Rent with an Option
Sometimes, a potential buyer may be very interested in your home, but they may not have what they need to close the deal immediately. Or maybe they want to make sure this house is right for them before they commit to buying it. In either scenario, a rent-to-own option can be a great way to start making money off your house faster.
In a rent-with-an-option scenario, you agree to rent your home to a tenant with the idea that, after a certain period of time, they’ll have the option to buy the house. The money they’ve been paying in rent can go towards the eventual cost of the home. Not only does this lower their purchase price, but it also gives them time to save up a down payment or make other financial arrangements for the purchase.
COVID-19 Pandemic Housing Market
Selling Your Home in 2020, 2021, and 2022
In 2020, there were 5.64 million homes sold, and yes, that happened during a pandemic. For some people, homes are selling fast. That’s not the case for everyone though. Are you someone that’s looking to slap a sold sign in front of your house and move on to your next place?
There’s no need to panic because we’ve got some tips to sell your home fast. This means you won’t have to wait around for months before someone becomes interested in your property.
Are you ready to start over fresh someplace else? If so, read on and get ready to sell your home for fast cash.
What Selling Strategy Will You Use?
Selling a home doesn’t mean putting a for sale sign in the yard and hoping people come knocking on your door. It’s essential to have a strategy that will help you sell your home fast.
For example, if you’ve got the time to go through the process, you might want to sell your home yourself. But, if you’d rather leave that to someone else, it would be beneficial to hire a real estate agent to handle the selling of your property.
You can bypass both of these options if you find a company that purchases homes. This means you don’t have to wait around waiting for someone to express interest in your home.
Clean the House
After you’ve put your home up for sale, people will want to tour the property at some point. They’ll want to see what they’re purchasing in person.
For this reason, you need to take some time to clean your house and ensure it’s presentable. Nothing is worse for a potential buyer than seeing how the home looks in photos and arriving to see it dirty and in disrepair.
For example, if the garage is a crucial selling point for their home, you’ll want to ensure it’s picked up. If possible, you might want to look into ways to seal any noticeable cracks in the garage foundation as well.
Remove Personal Items
When you find the house of your dreams, it’s hard to picture yourself living in it if the previous owner leaves their personal items behind. You need to present a clean slate for potential buyers to view, allowing their imaginations to run wild.
Think of the home as a territory; in the wild other animals might approach and become intimidated. The same applies to potential buyers; if your personal items are still in the home, they might feel like they’re intruding in your space.
Instead of personal items, find some neutral art and décor to hang on the walls and throughout the house.
Nowadays, people want homes that provide ample amount of space and open floor plans. Not every house out there will offer this, but sometimes people are willing to overlook this as long as it gives them a decent amount of space.
If you forget to clutter your home, it could make it seem smaller than it actually is. Before opening your home for tours, find a local storage place for your items.
Only keep quality furniture in the home to be used for staging. Again you’re presenting a blank palate, and the buyer is the artist that’s ready to paint.
Focus on the Yard
First impressions are essential; the yard surrounding your home is like a sneak peek into what people might find inside. With that being said, you need to take time to increase your curb appeal.
This can be done in a series of ways like:
- Reworking the landscape
- Adding vibrant flowers
- Cutting the grass
- Sometimes doing something as simple as changing the color of your front door will make a world of difference. Another thing to keep in mind when it comes to the exterior of your home is ensuring it fits within the neighborhood.
People don’t want to be ‘that house in the neighborhood’; therefore, keep the exterior of your home tidy.
Fix Necessary Things
Before putting your home on the market, make a list of repairs that need to be made. After creating this list, mark the repairs that are a top priority.
You don’t need to fix everything on your list, but things that could turn buyers away should be done. If there’s a leaky faucet in the bathroom that could lead to indoor flooding, it’s something you need to fix.
If the carpet is stained and the stain can’t be removed, you need to find a way to fix it or replace the carpet.
Think About Your Deal
If you waste time going back and forth during the negotiation, someone could choose to pull their offer altogether. Think about what you’re offering that’s going to make someone want to buy your home.
Are you willing to pay the closing costs or a percentage of it? Are you offering a home warranty to help them pay for future repairs?
Carefully think about what you’re willing to give because it’s one of the most valuable tricks for selling your home fast.
Sell Your Home the Unusual Way: Get Cash Fast
Selling your home fast for cash can be a great way to simplify the real estate transaction process. Decide how you want to sell your home, and then do some work to make it beautiful. Set the price low enough to entice buyers, and host an open house to draw them in.
If you’d like to sell your home fast for cash, check out the rest of our site at FasterHouse. We buy houses as-is in any condition and can close on your timeline. Get a fast, free, fair, no-obligation cash home offer today, and discover why we’ve been the trusted St. Louis home buyer since 2002.