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I need some advice, or thoughts, or experiences, with selling my home fast for a relocation. My goal would be to sell it after I already have a new place lined up and have moved there, so the house I want to sell would be vacant. But I would want to sell fast, because I need to relocate. I'm considering doing a rent to own type and rent it for a month or two then buy the new one, or have two mortgages while I sell the old one fast, or selling the old house for cash program, don't know how those work though. It really wouldn't work for me to sell the current house while living in it. I need to relocate on short notice and want to make sure I have a place to end up in before committing to selling this place. Anybody have any thoughts or steps or solutions? Thanks, anything would help at this point.
My house is on the market due to a job relocation. I don't understand why in this market you think it's wise to take on a new mortgage before your existing house sells. There is no way to guarantee that your house will sell quickly, regardless of how low you price it. The buyers out there now are looking for rock bottom deals, so chances are you will "price it right" and still have to do a reduction, possibly even for less than you owe.
Also staged (furnished) houses sell faster than vacant houses, so you're best either to leave your furniture or get rental furniture (add'l expense).
My advice is get your house in model-home condition & list it ASAP for the absolute lowest price possible. Rent a place in your new location, while you shop for your new house. This gives you time to take advantage of the buyer's market without rushing into a deal. By the time your house sells, you'll have found a new house that you love and you go into closing not having to worry about your old mortgage.
My house is on the market due to a job relocation. I don't understand why in this market you think it's wise to take on a new mortgage before your existing house sells. There is no way to guarantee that your house will sell quickly, regardless of how low you price it. The buyers out there now are looking for rock bottom deals, so chances are you will "price it right" and still have to do a reduction, possibly even for less than you owe.
Also staged (furnished) houses sell faster than vacant houses, so you're best either to leave your furniture or get rental furniture (add'l expense).
My advice is get your house in model-home condition & list it ASAP for the absolute lowest price possible. Rent a place in your new location, while you shop for your new house. This gives you time to take advantage of the buyer's market without rushing into a deal. By the time your house sells, you'll have found a new house that you love and you go into closing not having to worry about your old mortgage.
If ANY house is not looking much better than the competition it will not sell fast. If the competition for vacant houses is REOs it may be all but impossible to price your home low enough...
Really, if the place is gonna sell fast you best bet is to hit the market looking as good as can be. If you gotta rent in the new town that is better than getting wiped out with tow mortages.
My house is on the market due to a job relocation. I don't understand why in this market you think it's wise to take on a new mortgage before your existing house sells. There is no way to guarantee that your house will sell quickly, regardless of how low you price it. The buyers out there now are looking for rock bottom deals, so chances are you will "price it right" and still have to do a reduction, possibly even for less than you owe.
Also staged (furnished) houses sell faster than vacant houses, so you're best either to leave your furniture or get rental furniture (add'l expense).
My advice is get your house in model-home condition & list it ASAP for the absolute lowest price possible. Rent a place in your new location, while you shop for your new house. This gives you time to take advantage of the buyer's market without rushing into a deal. By the time your house sells, you'll have found a new house that you love and you go into closing not having to worry about your old mortgage.
If ANY house is not looking much better than the competition it will not sell fast. If the competition for vacant houses is REOs it may be all but impossible to price your home low enough...
Really, if the place is gonna sell fast you best bet is to hit the market looking as good as can be. If you gotta rent in the new town that is better than getting wiped out with tow mortages.
Most sellers are in shock when Realtors recommend a list price. It's when the seller decides they know better than the agent or shops until they find an agent to list where they think it should be, that the home remains on the market far longer than it should, and winds up netting less than if priced right in the beginning.
Carrying two mortgages in this market is risky. If you are not prepared to become a landlord, sell first before you buy.
Ask your Realtor for 2 listing recommendations: sell it fast, sell it as a "typical" listing.
Just 3 days after my response to the OP, we got an offer on our house. Yea! BUT...it was for $15K less than our list price. Booooo! Mind you, our list price was at or lower than the sold price for houses in our subdivision that have closed within the last 60 days, some even on the same street. So, I reiterate, you can price it right, but buyers still want you to go lower.
We've managed to get the buyer to raise the offer, so that there's now only a $9K gap below the list price, but we're still negotiating. Until the ink is dry, carrying two mortgages is just too risky.
1. When you interview selling agents, ask them how many homes they've SOLD in the last 6 months, how long those homes were on the market, how many price reductions and how close the final sale price was to the ORIGINAL VERY FIRST listing price they recommended to the seller.
That'll help you find an agent who knows how to price.
2. Get your house inspected BEFORE listing, so you find and fix any issues that are affordable to fix but could be deal killers in a market full of skittish buyers. We just walked on a deal because of inspection findings. If they hadn't been there or had been disclosed, there's a chance we'd still be moving forward, but in this market it was enough to plant the seeds of doubt that killed the deal.
3. Rent in your new location. Get furniture from Craigslist or Goodwill while you wait. It'll keep your home staged and give you a chance to scope out neighborhoods to find one that's a fit for the long haul (because unless you've got a real sweetheart relo plan, you're not going to want to/be able to sell any time in the next ten years). Worst thing you could do right now is buy quickly into a neighborhood you haven't scouted thoroughly. If you need to move soon, you won't be getting your money out.
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Much better advice..
