How to sell your home fast: 3 tips

For whatever reason, many homeowners need to sell their homes as quickly as possible. If that describes you and you don’t want to hand over a huge chunk of your equity to an iBuyer or investor, read on.

Pre-sale home inspection

When we looked at the common obstacles along the way to closing a home sale, several steps loomed large. But, none larger than the home inspection.

Soon after you accept an offer to purchase your home, the buyer will send a home inspector to your house to inspect its condition. Soon thereafter, he or she will issue an inspection report to the buyer and I’ve yet to see one that didn’t have at least a few, even minor, problems.

Some problems, such as those that can impact health and safety, will need to be repaired. Even if the buyer doesn’t request it, the lender may, especially if the buyer is using an FHA-backed loan to purchase the home.

Depending on the scope of the work, this can significantly slow down the sale of the home.

Fixing items before putting the home on the market is a smart move if you need to sell quickly. It also shows potential buyers that you’re dealing in good faith.

Your buyer will likely order his or her own inspection so keep in mind that all issues in your report will need to be disclosed to potential buyers.

Ridding the sale process of the biggest stumbling block is the best way to ensure your home sells quickly.

Ensure you have clear title

Shortly after you’ve accepted the offer to purchase, the buyer will obtain title insurance. First, however, the title company will want to find out if you truly are the rightful owner to the home, that nobody else has a claim to it and that there are no liens against the property.

A problem discovered in a title search is known as a “cloud” on the home’s title. Home sellers are often surprised to learn that there’s a cloud, but it’s a common occurrence.

The most common cloud is a lien against the property and many homeowners aren’t even aware of it. Either it was placed so long ago that the homeowner forgot or it may be so new that he or she isn’t yet aware of it.

Be proactive if you suspect that there may be a cloud on the home’s title. A trip to the county recorder’s office (where you can search public records by address) is often all it takes. Otherwise, you can order an official title search from a title company. While the fee varies, it typically starts at around $200.

If a lien shows up on the title report, you’ll be responsible for clearing it. You can dispute it, but this is a court procedure that takes time. Paying the amount owed is the quickest way to clean up the property’s title.

But liens aren’t the only problem that may show up on a title report. Some of the more common title defects include:

  • Clerical errors
  • Disputes over property boundaries
  • Encroachments and easements
  • Marital status falsely reported
  • Fraud
  • Forgery
  • Improperly probated wills
  • Unknown heirs
  • Unreleased deeds of trust

Some of these are quick fixes. Others, such as clerical errors take substantially longer.

In fact, “depending on the nature and extent of the error, it can take anywhere from days to months to correct these types of issues,” according to the experts.

Avoid this source of major slowdowns in the sale process by checking your title before putting the home on the market.

Don’t play games with your home’s price

“More than half of all closing problems are related to mortgages,” according to Peter Miller at MyMortgageInsider.com.

Slightly more than 20 percent of these problems are caused by appraisal issues.

Unless the buyer is paying in cash, he or she will be using a lender for financing. The lender will send a property appraiser to the home to determine the value.

Much of the time, the appraiser’s evaluation meets the price agreed upon. Sometimes, however, it doesn’t and negotiations reopen.

There are several ways to work around an appraisal problem but most of them take time.

Avoid appraisal problems by understanding how market value for a home is determined, hire a listing agent experienced in determining fair market value and avoid the temptation to overprice the home.

We are happy to answer any questions you may have on how to sell your home quickly and still get top dollar.

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4 Best Tips for First Time Home-buyers

Buying your first home is a big move and requires a great deal of research, thought, and ability to make choices. If you’re reading this article, you’ve already dedicated yourself to research. (Way to go!) What you learn here will get you on the right track as you start the home-buying process.

First Time Home-buyers MUST Get Pre-Approved

Although you will be tempted, don’t start searching for homes to buy until you know what you can afford.

Here’s why: If you fall in love with your dream home, then learn it’s outside of your budget or pre-approval limit, you’ll truly regret looking first. It’s a bad way to start. Sellers will not look at your offer if you are not pre-approved by a lender anyway.

Know Where To Look For Homes

Because they are easy to find when you Google, you may be tempted to use a big flashy 3rd party home search site. Resist this temptation. These big home selling sites are chock-full of inaccurate data, such as; homes that have been sold for months or incorrect ‘zestimate.’ As tempting as it may be, steer clear of 3rd party sites. They will only be a letdown. You simply can’t trust the the information.

Here’s what you should do: Get your information from your local MLS*. Your local MLS has rules in place to ensure that the information is as accurate and as up-to-date as possible. Local Realtors will likely have access to this tool. We, for example, have an easy to use search tool that is directly linked to the local Multiple Listing Service and gives a buyer the full listing of MLS homes for sale in the area.

Use A Local Lender

Without a doubt! Internet lenders are the Shamwow® of home lending – they arrived on scene and you think they are amazing – until your loan doesn’t close.

Only use a local lender. (We aren’t saying this to butter up our local lenders) They know how to get you approved and provide the program that’s right for you. They are motivated to do it right. These lenders likely live next door to you, your kids may go to the same school and they see you at social gatherings. They are personally vested in your happiness and are working for future referrals from you. They care about you. Internet vendors; not so much.

Need help choosing? Don’t hesitate to discuss this with your Realtor. We help buyers with this important step all the time and are happy to do it. It’s a critical part of the home buying experience, and we are pros at recommending lenders that are the right fit for you and your situation. We buy houses Grand Prairie Tx so if you need to sell we’re here for you.

Pick The Agent That’s Right For You

Pick an agent that you feel comfortable with. Trust the feeling you get in your gut when you meet. Then ask all the questions that are on your mind. Don’t be shy. You want to know things like:

  • Their track record.
  • How they communicate.
  • Response rate.
  • Do they have a modern website?
  • Are they on social media?
  • Do they have for support staff?

You know what’s always a great idea? Ask them for testimonials. If your gut isn’t as intuitive as you’d like it to be, testimonials will get you there.