Ask almost anyone the best way to sell your home, and you’ll probably hear just one answer: a real estate agent.
Traditional home sales continue to be one of the more popular routes to transferring property, but you might be surprised to learn that this isn’t the only option! And when it comes to the fastest way to sell a house, traditional home sales—which close in 56 days on average—don’t even come close.
If you need to transfer your property in a pinch, here are the options you should consider.
1. Sell Your House for Cash
The quickest way to sell a house, hands down, will usually be through a wholesaler. Many sellers don’t realize that upwards of 40% of all real estate transactions in the US are paid in cash.
This option isn’t always ideal if you’re looking for a high price, as you won’t have the opportunities to tweak your listing and appeal to the right buyer—but you also won’t have to wait for the right offer, either. In addition, while wholesalers won’t pay top-dollar, you’ll get a fair amount for your home.
Wondering, “How do I start selling my house quickly for cash?” Find a wholesaler online to get started.
2. Reduce Your Price
Selling through a traditional property sale may not always be the best way to sell a house if you want a quick sale, but in some cases, you’ll find that reducing your price incentivizes buyers to bite. Depending on the market, a dramatic reduction of a few thousand can make a world of difference. People love a good discount!
3. Do a Short Sale of Your Home
This option works only if you’re being threatened with foreclosure. Asking your bank or lender to do a short sale can help you get out from underwater because you’ll be selling it to your lender for less than the amount due on your mortgage. All proceeds of the sale go to your lender, meaning you won’t reap the high prices you would with other options, but it may be your best bet if you’re in financial distress.
4. Transfer Your Mortgage
Sure, this one isn’t technically a “sale” of your home, but it still transfers the property to someone else who can assume payments on your behalf. Again, this option may not be ideal unless you’re in financial distress, and it’s not possible for all mortgages.
The Bottom Line on the Fastest Way to Sell a House
Depending on your finances, the fastest way to sell a house is usually a sale through a wholesaler who can offer you quick cash. Other options may have their pros and cons, including the potential to make more money with a traditional sale, but if speed is your first choice, cash is king!
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