During the pandemic, house prices soared. A year later, house prices are still high. Because of this, many people are planning on selling their homes and buying a bigger house somewhere cheaper. If you are interested in flipping your house during the pandemic, then you may be wondering what the quickest way is.
Selling your house is no easy task. It requires a lot of planning. If you are prepared, then this article will tell you how you can flip your house during the pandemic:
Selling to a Cash Home Buying Company
A cash home buying company is undoubtedly the fastest way to turn your house into cash. According to this company in York, PA, 717 Home Buyers, you can get cash for your house in as little as two weeks. These companies guarantee you a sale for your house. They are typically used by people who are facing extreme financial difficulty, or people who need access to cash for an emergency.
With these companies, you do not have to pay any agent fees, which will save you a lot of money. Your legal fees are also covered by the company. While in most cases you can get your money in two weeks, sometimes it can take up to four.
When you are selling your house to one of these companies, it’s important to remember that you won’t get market value. You’ll usually get around 70-80% of the property’s market value.
When you are using one of these companies, you need to make sure that you find one that is honest, well-reviewed, and regulated. There are a lot of fake companies and scams to watch out for in the cash-for-property market.
Depending on where you are in the world, the company might not be able to buy your property if it is valued at over $500k. Do your research beforehand to save yourself the disappointment.
Sell Your House at Auction
Selling your house at auction is another reasonably quick way to get money for your house. An auction can often take place weeks or months after you list you submit your property to a property auctioneer.
At an auction, you are not guaranteed to find a buyer. Your property could be passed over, and ultimately, could be returned back to you with no sale made.
If your property has problems with it, has a short lease, a defective title, or is located in a problem area, then it’s best to take it to the auction. While you may only get a small amount of money for your property, it’s better than nothing. Auctions allow you to sell a property that would otherwise sit around collecting dust.
You will usually receive your money within four weeks of the auction closing, and the deal is made. You will usually receive between 80-85% of the property’s market value, which in most cases, makes it more worthwhile just selling your property to a property buying company.
House Sale Specialists
There is another quick option, though they are not guaranteed to make a sale. You can find, all over the internet, companies who purport to be able to sell your house in as little as 30 days.
People usually choose these companies if a cash-for-property company doesn’t offer a suitable price and your house hasn’t been told at auction. They are also used if a traditional estate agent has been unable to find your property a serious buyer.
With these specialists, you can sell your house for up to 95% of its market value. These companies, however, charge a lot in terms of fees. A buyer is not always guaranteed, either. The fees are often enough to put most people off of dealing with these companies.
If you’ve run out of options and want to get rid of your house quickly, then it is worth looking one of these companies up. It’s important to find a company that’s reliable and well-reviewed, however. You do not want to deal with a fake, scam company.
You will have to pay legal fees with these companies. This gives you the opportunity to get a lawyer’s advice as to whether or not it is a sensible idea to go through with a prospective deal.
Traditional Estate Agents
If you’ve got time, then you could opt for a traditional estate agent. The only problem with traditional estate agents is that they can take a long time to close a deal, and the buyer can drop out more or less at any time during the selling process.
You will also have to pay huge estate fees, then legal fees on top of that. Other than cash buying companies, they are the safest and most sensible option. They will also market your property for you, which saves you the trouble of having to do it yourself.
It’s better to have a realtor sell your home if your home has character features that will make it more valuable.
It’s important to, as with other suggestions on this list, find an estate agent who is well-reviewed and considered to be an expert. You can find con artists in every industry in the world; estate agents are not exempt from this.
Selling It Yourself
You don’t necessarily need a realtor to sell your house for you. You can sell it yourself. You will have to take on the role of realtor, however. It will save you money in terms of fees. It also allows you to pick your buyer more carefully. You will need to be a keen marketer if you want to sell a property yourself. You will still have to pay legal fees, however.
Alternative Option: Remortgaging Your Property
If you need access to quick cash and feel that you have no other option than to sell your house, you might want to think about remortgaging your property. When you remortgage your home, you essentially sell it back to the bank, then buy it from them again.
This is the last resort for most people, as it jeopardizes their homes. If you’re confident that you can afford to make repayments, then give it some thought.
Selling your house, as this article demonstrates, doesn’t need to be difficult. There are many ways that you can flip your property in the COVID-19 pandemic. When you do sell your house, try to get the most amount of money that you can. Good luck!