What is a Quick Sale on a House?
What is a quick sale on a house? A quick sale on a house means that the property won’t be on the market for long. In a quick sale on a house, the buyer comes forward and makes a good offer which the seller accepts and the deal is closed in a short period of time.
According to Realtor.com, an average house remains on the market for just 65 days before it is sold. This varies from one home to another with some homes selling very fast without being listed on the market. A quick sale can occur if you have an inspired buyer, a dedicated seller, a good market environment, and a perfect house for the buyer.
What are the determinants of a quick sale on a house?
Different factors play a role in how quick a house sales. These factors include the nature of the market, features of the house, and the seller’s role. For instance, many homes in the country are sold every year between March and June, with April reporting the most sales. Other factors that influence the speed of selling a house are the mortgage rates. If buyers suspect that the mortgage interest will rise, then they will likely buy houses when the mortgage rates are still low.
Another determinant of quick sale on a house is how the economy is performing. When the economy is doing great, many people will be willing to invest in a home. This is the opposite when the economy is not doing well. Also, the market value is important. If you price your home above the market value, it will sell slowly. So, ensure to price the house right.
Besides the economy and market value, the condition of the house also plays a major role in how quick a house sales. For instance, is the house in a good or bad condition? A house in a good condition will sell quicker than one that needs repairs.
Another important factor in determining how quick a house sales is its location? Is it in a low-traffic area or a high-traffic area? A house in a low-traffic area will not stay on the market for long.
What are the characteristics of the seller? Is he or she willing to negotiate with buyers? Is the seller ready to discuss with a potential buyer at the last minute? And is he/she confident about the market or suspects a drop? Such factors will also affect whether or not the house sells fast.
Tips for Quick Sale
A quick sale on the house doesn’t just happen overnight. You need to put your house in that position. Here are some of the tips that you need to make the house more appealing to buyers:
- The first impression is very important and can turn a potential client into a buyer. Make sure that you do the necessary repairs on both inside and outside of your home. An attractive exterior makes the house look appealing and can make the buyer want to see even more. Stress important features in the house. These features include the floor, ceiling, fireplace, kitchen, and master bedroom. Make these places appealing to the eye by painting adding art or some décor.
- Hire an interior decorator to arrange all the furniture to perfection so that the buyer can visualize himself/herself moving around the house with much ease and relishing the beauty.
- Don’t paint or decorate your house with bright colors as some people may find it unattractive. Instead, paint and decorate the house with warm neutral colors.
- Allow sunshine to flow in and out of the house by opening blinds or curtains.
- Make sure that the price is right. That is a good reason to hire a realtor who knows the current market value of your home.
With a quick sale on a house, your home won’t stay long on the market. But this doesn’t mean that the house will automatically be sold quickly regardless of its condition, price, location, or even time of the year. All the factors that surround the house need to be right for it to sell as quickly as possible. Therefore, ensure that your house is appealing to the buyer, priced right, and is for sale when the economy is doing well.