What are the three most essential things to consider when your goal is to sell your house quick? In our extensive experience helping homeowners and rental property owners we’ve found that the three most common issues are pricing, condition, and marketing. Each of these considerations plays a very important role in the number of days that your property will spend on the market before going under contract and closing escrow. If you give special attention to price your property right, measure the effect of condition on value, avoid unnecessary repairs, and market properly, you’ll have a much better chance of selling a property in a short timeframe.
Price it Right to ‘sell my house fast in Massachusetts’
There probably isn’t anything more important in the sale of real property than proper pricing. I’m sure you’ve heard this before, and it’s true. No matter how beautiful your property is, an inflated price is guaranteed to diminish your chances of selling the property in a reasonable timeframe, or at all. Condition isn’t the only aspect of proper pricing, you also need to consider market conditions and the prices that nearby properties have recently sold at. By looking at the value of similar properties, what appraisers call the ‘substitution method,’ you can get an excellent idea of what your property may be worth.
Aspects to compare include location, amenities, property age, transportation access, bedrooms and bathrooms, square footage, condition, and any other significant difference between the properties. The science of making adjustments to comparable properties to provide the most accurate value estimate, is a process best left to professional appraiser’s; however, you can make these adjustments roughly yourself.
If a property you’re gauging the value of your property against has a new roof, and yours was replaced 15 years ago, consider how much the value of that new roof adds to the competing property. If you subtract that amount from the sold or list price, you’ll have a somewhat more accurate idea of how much your property could sell for. Also, don’t rely on the automated valuation provided by any of the major real estate listing websites; they are all grossly inaccurate and provide outdated information.
Skip the Repairs
If your goal is to sell your property quickly, don’t bother spending your cash reserves or using credit to make repairs. In almost all cases, improvements you make will not pay for themselves when you resell the property. Aside from saving money on doing repairs yourself, it will also save you a significant amount time. The process of ordering repairs, having them scheduled, ensuring completion, and acquiring verification can end up taking weeks and months, especially if any code issues are involved.
After you agree to our cash offer, you’ll have your closing check in as little as 10 days. If you include the savings on holding costs such as mortgage expenses, property taxes, insurance expenses, and other maintenance and operational costs for the property when selling in such a short period, it makes even more sense to leave the property as is and leave the maintenance and cleanup to us.
Considering selling the property yourself? One of the most important things to consider, next to price, is how to effectively market your property to get it in front of the eyes of potential buyers. This is one of the most challenging aspects of the job of real estate professionals. The technical and paperwork side of the job is actually relatively simple, compared to many other professions.
Even if your property is perfectly priced, it won’t sell if the public isn’t aware of it. If it does sell without being properly advertised, you’ll much likely receive a lower selling price, and may have cause for damage claims against your representation. To get the best price, and get it sold in the least amount of time, put together a carefully thought-out marketing strategy that uses conventional as well as modern tools.
Some of the most common marketing strategies are also the most effective. Make sure that your property is listed in the MLS and is properly staged. Take the extra time and expense to have it professionally photographed, including a virtual tour and drone fly-over. You can list the property in local real estate magazines, newspapers, online bulletin boards, and also inform the community through conventional means such as flyers and open houses.
If you have any other questions or need any specific advice regarding getting your home sold quickly, please reach out to us for friendly, no-obligation counseling. (617) 250-7100 or click here to send us a message. We’re also here to make you a prompt offer with no pressure.