Common Reasons People Need to Sell a House Fast

Needing to sell a house fast? Even in today’s hot seller’s market where homes attract offers in hours, it takes around 2-plus months to sell a house from list to close. And that doesn’t account for the weeks needed to clean, paint, and tidy up the property for its market debut. If you don’t have the patience for this timeline, including the 49 days you’ll spend waiting for a traditional buyer’s mortgage to wrap, you’ll need to get creative with your plans. Thankfully, you do have options.

For one, you could list your house with a top real estate agent who knows how to get your house sold in a snap. Alternatively, you could request a full cash offer through a home buyer, slashing your closing timeline to 10 days or the move-out date of your choosing. With this guide, you’ll get a complete overview of the top ways to get a quick offer, sign that deal — and get out of a house that’s no longer serving you.

Common Reasons People Need to Sell a House Fast

Foreclosure: Losing your job unexpectedly could mean you’re no longer able to afford this particular home. Even if your mortgage company has initiated the foreclosure process, you can still sell your home independently prior to your scheduled auction date. But depending on how behind you are on payments, you may only have a month or two to get the job done before the house goes to the courthouse steps.

Bad tenants: When a landlord has trouble attracting tenants, they may resort to loosening their application standards. Unfortunately, bad renters will easily turn an investment sour. In that case, it makes more sense to unload the property as soon as possible.

Inheritance: It often makes no sense to hold onto a property you inherited, especially if you live far away. When you add up the costs of maintenance, utilities, and property taxes, the sooner you can sell this home, the better.

Foundation issues: A major foundation repair that requires a fix involving hydraulic piers can cost upward of $10,000 alone. Rather than let a problem like that fester and threaten your home’s structural stability over time, you could sell the house quickly to someone who can afford to address it. Keep in mind, though, that a large item such as foundation cracks will raise red flags in an inspection, resulting in a price discount.

New job: An exciting new job opportunity opens up but there’s only one problem — it’s across the country and you’ve got this ball-and-chain called a house weighing down your mobility. Even as remote work increases post-pandemic, many companies are still asking their workers to come into the office part-time. When you need to sell your house fast for a job relocation, the pressure of a start date and straddling two locations can make the process tricky.

Divorce: Selling your house can help you get a fresh start after a divorce. In addition, until the home is sold, at least one party will need to pay the mortgage and keep up with the lawn, which can cause additional tension and financial strain. As such, many people going through a divorce are looking for a fast way to sell their home and move onto the next chapter.

Water damage: Water intrusion and flooding inflict catastrophic damage on a home, and a home with a history of water damage can be harder to sell. It’s also expensive to fix, with the average water damage insurance claim totaling $7,000. For someone who doesn’t have the cash to make costly repairs, selling the home quickly with the proper disclosures may be the best option.

Fire damage: Similar to water damage, destruction caused by a fire is difficult and costly to undo. A decent fire will destroy your home down to the ductwork and Sheetrock. Without adequate homeowners insurance or the upfront money to make repairs, the only type of buyer willing to take on your property may be an investor who can pay cash and plans to gut it.

You may fall into one of these categories or perhaps you need to sell a house fast for another reason entirely. Whatever the case, you can either pursue an off-market sale with a cash buyer, or, depending on your level of flexibility, sell on the open market with a few shortcuts worked in.

If you need to sell a house fast, contact our team at St. Louis Realty Advisors at 314-270-1601 for your quick, fair cash offer.

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