How to sell your home fast in today's market

In today's dynamic housing market, speed is often key. Every day that passes costs you money.  And if you need to sell your house quickly, several strategies can help you get to closing without sacrificing your all-important profit.

FOX 5 real estate expert John Adams is here to tell us how to achieve a quick sale at a fair price in today’s market.

According to the Federal Reserve, the median days on the market in metro Atlanta is 53, and that number is rising.  

While Adams believes that number is accurate, he says it doesn’t include days between contract and getting to the closing table, which can easily add 30 or more days to the process.  

If you have a need for speed in the sale of your house, there are three tried and true methods we can offer as possible solutions:

1. Instant Offer Companies: Convenience with Caveats

Instant offer companies like Opendoor and HomeVestors provide the fastest route to selling. They make quick, all-cash offers within days, removing the hassle of showings, repairs and negotiations.

The convenience comes at a cost, however. These companies typically charge fees and purchase homes below market value, sometimes by 5-15%. They prioritize their profit margin, leaving less money in your pocket. Consider this option if speed is paramount and you're comfortable accepting a lower price.

2. Lower the Price: Strategic Reduction for Faster Action

Adjusting your asking price strategically can attract more buyers and lead to quicker offers. Analyzing recent sales of comparable properties in your area is crucial. 

A competitive price attracts more interest, potentially igniting a bidding war that drives the price closer to your ideal outcome. 

Remember, overpricing initially can deter buyers and prolong the selling process, negating any perceived benefit.

3.  Offer Owner Financing: Pros & Cons

With owner financing, you act as the bank, selling directly to a buyer who finances the purchase through monthly payments. 

This raises the possibility that you can collect a good interest rate on the loan balance until it is repaid.  This method also eliminates the need for a traditional lender and potentially bypasses substantial closing costs.  These factors make owner financing especially attractive to a buyer.

However, it comes with significant risks:  

•  You become responsible for collecting payments.
•  You are ultimately responsible for payment of taxes & insurance.
•  You may have to navigate complex legal issues.
•  If the buyer defaults, you may need to foreclose.

 In Adams' opinion, you’ll need a lawyer to understand the financial and legal implications before diving into owner financing.

 4.  Additional Strategies for a Speedy Sale:

1. Boost Curb Appeal: If they never come inside, they’ll never make an offer.  Buff up your home's exterior by landscaping, power washing, and making minor repairs.  At a minimum, paint the front door!
2. Stage for Success: Create a neutral, inviting space that appeals to a broad range of buyers. Consider professional staging for maximum impact.
3. Leverage the Internet: Utilize professional photos, 3D tours, and virtual staging to showcase your home online and attract remote buyers.
4. Work with a Skilled Agent: An experienced real estate agent can guide you through the process, advise you on pricing, negotiate offers, and ensure a smooth transaction.

The ideal strategy depends on your priorities. If speed is your top concern and you're comfortable with a lower price, instant offers might be suitable. For a quicker sale without sacrificing as much value, strategically reducing your asking price is an option. Owner financing can be lucrative but demands significant financial and legal understanding. 

Atlanta native John Adams has been a real estate broker and investor in residential real estate for the past four decades.