Photo by Pavel Danilyuk
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One minute you’re just browsing listings — you’re not really looking, but you’re curious as to what’s on the market, and there it is — your dream home. Right area, right price, and you need to strike while the iron is hot. But the thing is, you haven’t even prepared your current home for sale, you weren’t looking to sell up, and there’s no way you can get a buyer to complete that fast, so you can put an offer in on your dream property. Or is there? While this is a horrible in-between moment to be stuck in, there are actually options if you’re serious and need to move quickly, even if you don’t have a buyer lined up for your current property. Let’s take a look.
Prepare Your Home Sale
The first and most obvious way is to quickly get your home in shape to hit the market. Remove anything that might slow the listing.
- Repair any damage or make quick and easy repairs.
- Deep clean the entire house (a cleaning company can handle this if you need them to)
- Declutter half your home and depersonalise it
- Add bright photos and open up windows to draw in natural light
- Tidy the exterior/improve kerb appeal
Anything that makes your property look cared for can be undertaken to boost the chances of a quick sale.
Adjust The Price Point
If you want to sell your home fast, finding the right price point is going to help a lot. Over 50% of homes on the market sell faster if they’re at the right price. So you need to find the sweet spot between a price you can realistically afford to take to move forward with your new purchase and one that will be attractive to buyers.
Short-Term Financing
There are short-term financing options available in the form of bridge loans and short-term financing options for this exact kind of thing. But they’re not something you take out without researching, and you should only use them when
- You have verified income to cover the overlap
- You’re confident the house will sell quickly
- You’re not already stretched to your monthly outgoings.
Short-term financing should ease the pressure and be a stopgap. Do not use this if you’re not sure you can manage the additional financial pressure.
Choose a Cash Buyer or an Alternative Buyer
Look for companies that offer “we buy houses” services in your local area. Unlike traditional buyers, cash buyers don’t come with the usual delays, nor do they run through the usual checks or have the same restrictions. You won’t always get full market value, and your offer will depend on the market, the condition of the property, and a realistic value, but if you’re stuck and need to get going, it can be the perfect way to get the ball rolling.
On the other hand, if a cash buyer isn’t right for you, you might need to look for
- A buyer with no chain
- An investor
- A direct buyer
The goal here isn’t to purposely undersell your property but to get things moving quicker than traditional buyers so you can move forward faster.
*This article is based on personal suggestions and/or experiences and is for informational purposes only. This should not be used as professional advice. Please consult a professional where applicable.