One of the things that people often forget when they want to sell their home is the amount of time it will take to sell. It’s common for sellers to make plans as though their house will be snapped up as soon as it hits the market. But, of course, the housing market is a tricky thing. Even those who claim to be experts at predicting it seem to be having trouble doing so most of the time.
Your need to sell
When you’re making your plans for the sale of your home, you should be doing so in accordance to your needs. How fast do you need to sell your home? For most people, the time it takes to sell a home isn’t that crucial. They’re willing and able to wait for a good offer to come along. But this isn’t the case for everyone. What if a work obligation means you have to move to a new city right away? Or if you’ve decided that you need a large amount of money as soon as possible?
Well, in either of those cases, you might want to consider other options. Your employers can’t legally compel you to sell your house in a rush, especially considering the financial risk involved. You could also look into getting a loan for the time being, which you could gradually pay off from the sale of your home. But if your particular case does require you to sell immediately, then it doesn’t mean you’ll have to settle for a bad offer.
If the housing market is hot, then you’ll probably be able to get a great offer for your house soon enough. But if you’re at all skeptical about this speed, or if the housing market is slow? Then you can always look into professional home buyers.
The fast market
If the housing market is currently fast (or ‘hot’, as I referred to it earlier), then you probably won’t have much to worry about. That being said, a fast market creates a lot of noise. What I mean by that is that competition can become quite fierce.
For sellers, a fast market is obviously the ideal. But don’t become complacent. Just because home buyers are out there waving their cash left, right and center, don’t assume they’ll come to you with great offers! Don’t cut corners when it comes to marketing your home.
The slow market
The most obvious problem with the slow market isn’t that it can take a long time to sell a home. Again, most sellers are prepared for a waiting period. The problem is that buyers will be expecting you to sell for less. With the assumption that you’re not getting many offers from others, buyers are more inclined to make an offer for much less than the asking price.
Again, what you should do in this circumstance depends on how fast you need to sell. If you need to sell fast, then you could be in danger of selling your house for much less than it’s worth. This might be a compromise you have to make, though you should look into offers from professional home buyers first. If you’re willing and able to wait it out, then take the time to work on your home and selling strategy.