Selling a house is no easy feat, especially when you do it by yourself. You have to take care of a bunch of documents, and other issues may also come along. If your house has been sitting on the market for a while now or you’re planning to sell your house without a real estate agent, read on to learn about alternative ways to sell your house.
For Sale by Owner (FSBO)
Eight percent of houses sold in the United States are sold FSBO. That’s a pretty small percentage considering there are many online tools available to help homeowners sell their houses themselves. Selling your house yourself typically includes posting it online to different websites such as Zillow, Craigslist, etc.
Selling Using Social Media
Using the internet is one of the most known alternative ways to sell your house. Other than using the above-mentioned websites, also make sure to take advantage of social media. For example, if you’re on Facebook, you can search for local groups where you get your home listed. This makes it easier for people looking for a home in Cincinnati, for example, to find homes in Cincinnati.
To optimize your advertisement on social media, you can try the following different ways to sell a house:
High-quality photos – You can hire a professional photographer with experience in taking real estate photos. If you don’t want to spend money on hiring one, you can borrow a camera to take 4K photos. HD pictures will draw more potential buyers than blurry ones.
Consider investing in ads – Now that you have nice photos of your home, add an accurate description and create an ad. Many websites offer ads to vendors. For example, you can try Facebook, Pinterest, Instagram, and Quora.
Video tours – Record video tours of your home. This gives potential homebuyers a deeper look into your house. They will also trust you more.
Let Potential Homebuyers Spend A Night in Your Home
This may sound new to you, unlike other alternative ways to sell your house. But some serious potential homeowners may only need a little push to decide if they want to purchase your house.
Staying the night gives a buyer a real good idea of how it would be like to live in your home. They’ll know how your appliances are working. They’ll get a feel of the neighborhood.
Make sure to get your home ready for overnight buyers. Here is the best way to sell your house you should keep in mind:
- Make sure to have potential buyers sign a waiver. Anything could happen during the time they are at your house. To protect yourself from any legal liability issues, let them sign a document that waives your responsibility.
- Make sure your neighbors know about it.
- Screen your prospective buyer. Before letting them stay overnight, you should be sure they have the funds to pay for your home if ever they want to proceed with the sale.
We are not talking about county foreclosure action here or tax lien action. We’re talking about sellers themselves using online auction sites such as Auction.com new ways to sell your home. Banks usually use websites like this one to sell foreclosures.
In theory, having people bid on your home sounds good, but auction websites are usually not the best source for buyers. This is because most of these sites don’t allow contingencies for buyers which means your home will not be suitable for buyers who will use a lender to buy your home.
Sell Your House to an Investor
Most people don’t know that almost 40 percent of all real estate transactions in the country happen using all cash, meaning there are no lenders involved. This also means you are skipping most of the usual hurdles of underwriting.
Selling to an investor like cash home buyers won’t get you the same price as your home’s fair market value, but there are huge advantages. First, it is one of the fastest, if not the fastest, ways to sell a house. Closing is done quickly and no repairs are needed. Second, cash home buyers buy homes as-is. No wonder selling to cash home buyers is one of the most popular alternative ways to sell your house. You should consider this option if you don’t have the budget to make major repairs or you need the money as soon as possible.
Some wholesalers act as a middle man to your house. Of course, you also won’t get a top-dollar price for your home but it’s fair enough. Wholesalers have cash home buyers lined up who inform them what inventory they want.
The wholesaler will put your home under contract and flip it to a cash home buyer. What draws sellers to selling their houses to wholesalers is that it’s a lot quicker than listing your home with a traditional agent.
More often than not, you don’t need to find a wholesaler because they can find you first. They are always looking for distressed sellers who are selling their properties at a steep discount.
If you decide to sell your home to an investor, make sure you are dealing with a legitimate one. Like any other business, there are bad apples in the industry. To avoid getting scammed or lowballed, you must do your due diligence. Check the company’s background. Make sure they exist. You can look them up at the Better Business Bureau.
A lot of sellers have done well listing their homes the traditional way. Getting it listed with a real estate agent. But one of these alternative ways to sell your house may be a better option for you if your situation is different from most sellers.
There is more than one way to sell your home. If you are confident enough and have time in your hand, you can sell your house on your own and use the power of social media. On the other hand, if you want to do it quickly or can’t do any repairs, selling it to a cash home buyer is a good option. The best option all depends on your situation. If you want to sell your house in Cincinnati fast, request a ballpark offer for your house now.