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How Property Buyers can help Sell a House in Philadelphia
Best practices on how to sell property fast.
As the real estate industry continues to shift, there are various strategies that can help homeowners sell a house fast. Experienced property buyers are becoming more competitive with each other. This drives up the demand for houses and helps the sellers. If you have thought that I need to sell my house fast, there is a great chance you can accomplish that. It’s all about working with the right property buyer. From there, you’ll need to position your house to sell the right way. Here, we review tips and strategies to help homeowners sell a house fast to experienced property buyers in their market.
How do I sell my house in 2021?
Let’s start with the basics. Learning how to sell a house in 2021 can be scary because of the shifts in technology. If you have not sold a house in a few years, strap on your seat belt and get ready to “get techy”.
Technology has completely disrupted the traditional way of buying and selling houses. From the selling perspective, there are plenty of new marketing advantages that come along with selling a house in 2021. For example, homeowners that plan to sell a house in Philadelphia can now use multiple online platforms to market their home. If your vision is to sell a house by owner, you can list the home yourself on Zillow.com.
Once you do that, Zillow integrates with multiple other online platforms. And, boom! Just like that, the for sale by owner listing is blasted out to multiple online spaces. Property buyers in your market will begin getting notified that you are selling a house. Are you truly planning to sell a house in Philadelphia? That means you aren’t doing any work to it prior to selling your home. If that’s the case, you’ll want as many eyeballs on your house as possible. By taking advantage of the different online selling platforms for selling a house, you can alert huge groups of property buyers in one click. The scalability of marketing is possible when selling a house in 2021. It doesn’t have to be scary!
Finding Property Buyers on Craigslist
Is Craigslist still a functional website in 2021? Believe it or not, it is. Craigslist is still the “wild wild west” of the internet. However, to many homeowners’ surprise, you can still sell a house fast on Craigslist. Skilled property buyers still lurk on this website, waiting for a good deal. If you need to sell my house fast, Craigslist is a great place to start.
The property buyers on this platform don’t expect a luxury home to be sold here. Known as a “handyman special”, home buyers assume that most properties being sold will be in rough shape. Homeowners usually need to sell property fast when they post on this platform. Use this to your advantage when trying to sell a house fast. Granted, you will need to vet out many property buyers that are not serious. Beware of the following:
- Scammers
- People asking for your credit card
- Fake home buyers requesting a western union wire of funds
- Multiple misspelled words in their correspondence
Texting a Property Buyer about Selling a House
This mode of communication can seem extremely foreign to many. Although so much can be done via text, is it still possible to do business that way? Selling a house in Philadelphia can be accomplished by simply texting property buyers about it.
There are online groups of property buyers that you can connect with. Typically, the serious ones are willing to share their cell phone contact information. From there, you can send out a mass text to several of them letting them know what is going on. You can include photos of your home, along with a full description to highlight the key selling points. Are you thinking that I need to sell my house in Philadelphia but are nervous about communicating with buyers? Texting makes it easy. Qualified property buyers will be accustomed to buying houses through their phones.
Creative Ways to Sell a House in Philadelphia
We have already reviewed several platforms homeowners can use online to sell a house in Philadelphia. What other strategies are homeowners using in 2021 to sell a house creatively? I hope there are no black magic tricks at play. The dream of many homeowners is to sell a house fast. It is the least amount of work. You can sell property fast if you don’t need to do any work on it.
Use descriptive words in your house listing
Words are what catches our eyes when scanning through things we want to buy. The same goes for houses. To attract multiple property buyers to your listing, you’ll want to use descriptive words that make you appear in distress. For example:
- “Moving out of state. Looking for a quick house sale. Everything must go. I need to sell my house as is, handyman special. Fixer-upper. Good bones.”
Regardless of how good your location is, you still need to “sell” your house. Do your best to create urgency. That is sales 101. By making it appear like you need to sell a house fast and move out of state, you will create urgency among property buyers. In their mind, they will think they need to act fast. If not, you may sell your house as is to someone else. The thought of losing out on a good home to buy will get their competitive juices going.
Be creative when adding particular words to your online listing when selling a house in 2021. You may attract the right property buyer who is ready to pull the trigger on a good home like yours.
Create a bidding war among property buyers
When working with property buyers and reviewing offers, it is important to highlight timelines and deadlines for the sale of your home. You want to appear as a master who can sell property fast at any time.
First, set a timeline of how long you will be reviewing offers. How long do you want potential property buyers to think they have before they need to commit? A good range to start with is 48 hours from the time of an open house or marketing campaign. You can say something like this:
- “I will be reviewing offers and selecting one 48 hours from now. Please submit your highest and best. That is the offer I will choose.”
Placing this timeline on when property buyers can offer your home does something special to their brains. The competitive spirit kicks in! No one wants to miss out on a good deal, especially if there are only 2 days to make it happen. Commonly, by employing this strategy, you will create a bidding war among home buyers. Selling a house fast becomes a breeze when you have multiple offers.
These creative tactics increase the odds that you will sell property fast in 2021. Real estate can become competitive. Property buyers don’t want to lose out on a grand slam of a house. By facing buyers against each other, they will likely bid up the price of your home. The window of 48 hours allows you to sell a house fast while also getting a good price. It is the best of both worlds when selling property!
How much will I profit from selling my house?
This is a loaded question, and it does depend on where your house is located. Closing costs are a big factor that influences the amount of “take-home money”, or net profit, that you will find in your bank account after closing. Should I still sell my house in Philadelphia if I need to pay the closing costs myself? I wouldn’t jump the gun too fast. Usually, property buyers who are really interested in your house will offer to pay the closing costs. That will increase the profit you will make from selling your house.
Calculate the debt on your home
Do you know how much money you owe on your house? That’s ok if you don’t. There are several different ways to figure out how much money you currently owe. First off, a mortgage is the most common debt against a property. A mortgage can mean several different things. It can be the initial loan that the homeowner took out to purchase the house. It can also be a mortgage placed on the house after a refinance.
Homeowners can get into trouble if they take out too much money against their house. For example, if you refinance and then take a line of credit out against your house, you still need to pay the monthly payments on those loans. Additionally, if housing prices drop, you may find yourself underwater. This means that you owe more money than the property is currently worth. If you are thinking that I need to sell my house in Philadelphia because your loans are too high, you may have trouble selling it.
Overdue Water Bill
Overdue bills can add up. Especially for utilities, such as water, that homeowners use daily. Often, homeowners can forget to continue paying water bills since they are usually less than other monthly payments that they have.
Do you need to sell a property fast that is vacant? Make sure to check how much water is owed on the property first before selling. We have seen squatters break into vacant houses and use water. This can happen behind the homeowner’s back! It is unbelievable and sad. An overdue water bill can affect how much profit you will make when you are selling a house.
Depending on how much the property buyer wants the home, they may pay for some or all of your overdue water bill. It incentivizes you – the homeowner – to still sell to them. You will see property buyers flex this muscle when there are multiple offers. In a competitive landscape, buyers will do whatever they can to box the other one out. When it comes down to it, business is business.
Property Taxes
Taxes owed on a property can negatively affect the amount of profit you make when selling a house. The property buyers that you are working with may consider paying for certain outstanding debts. What if they cannot afford to also pay for overdue property taxes? Your plan to sell a house in Philadelphia may be shot in the foot.
When trying to sell property fast, it is important to have all your “ducks in a row”. A property buyer that finds out at the last minute that there is a ton of debt owed on the house may be scared off. It could completely sour the deal. Why waste everyone’s time? By calculating the entirety of debts owed on your property, you increase the chances of selling the house fast. Remove as many potential surprises early on in the process. If you still need to sell my house in Philadelphia, the debts can be negotiated and split up between you and the buyer.
What is the quickest house sale you can go through?
The demand for services to be faster and faster continues to increase. That includes selling a house. There are several ways to sell property fast. But what is the quickest house sale that a homeowner can achieve? It requires two simple ingredients.
- A property buyer that has cash
- An agreement with no contingencies
Property buyers that pay cash
When a property is purchased with cash, it enables the process to happen fast. The quickest house sales that you can go through are ones that do not involve loans. When a home buyer needs to take out a loan to buy a house, it completely slows down the process. Most banks are required to vet a buyer thoroughly before actually lending them money to buy a house. What if they have good credit? That helps, but they are still required to jump through multiple hoops.
Dealing with home buyers that are paying for a house using a loan can lead to trouble later on in the process. Even if they are approved initially, mishaps can happen later that can inhibit a buyer from buying a house. Banks do incredibly deep searches through a buyer’s history. If you are planning to sell property fast, avoid buyers that are borrowing money. Property buyers that purchase homes for cash make the process much quicker.
Avoid agreements with contingencies
Signing a contract with the intention of selling a house fast means that you are locked into that contract. You must see out the entirety of the contract until the end of the term – unless you have an out. This means you’ll want to verify want contingencies, if any, are set in place by the buyer you are dealing with. It is easier to sell property fast when there are no contingencies in the agreement.
There are knowledgeable property buyers that not only pay in cash but also don’t include contingencies in their agreement. They do this because it gives them an advantage. These home buyers are aware that if they don’t have contingencies in their contract, the process is quicker. When the process appears quicker, then you are more likely to sell to them and make it happen.
When you come across an agreement loaded with these requirements, run in the opposite direction. It will slow the process down dramatically. If you’re thinking that I need to sell my house fast, you should only accept agreements that have minimal contingencies. These contractual regulations typically revolve around the condition of the property. Sell a house fast means that you are not fixing anything up. Does the house need major repairs? You’ll want to find a property buyer willing to accept the flaws of the house, and embrace them!
Can I sell my house in Philadelphia and keep the money?
Selling a house in Philadelphia means that you claim to make no repairs or modifications before closing. Most experienced property buyers understand how this works. How do homeowners ensure that they keep the money when they sell a property?
Multiple sellers working with one property buyer
Who else should be involved in the sale of the house besides you? Start by looking at the property deed. If you see multiple names on the deed, that means multiple people are entitled to the property. When you sell your house, they are entitled to part of the money.
These are details that you need to hash out before starting the process of selling a house. Unfortunately, if there is someone entitled to partial ownership of the property, they can stop the sale of the home if they don’t agree to it. Make sure that all parties on the deed are involved, informed, and onboard with the idea of selling your house. You can tarnish a relationship with a property buyer in your market if you must back out last minute for this reason.
Financials behind selling a house fast
When you sell a house fast, you are agreeing to let the property buyer take on any debt owed. While that sounds appealing at first, it may cost you money last on. To avoid getting yourself in this pickle, calculate how much debt you owe on the property.
Next, figure out who is paying the closing costs for the transaction. From there, tac on any additional fees or commissions necessary. At this point, you are close to calculating your net profit from the sale. Net = revenue – expenses. You should be able to accurately determine how much money you will be making from the sale of your property. Feel free to ask the property buyer you are selling to for advice, and to confirm your calculations.
We hope these tips help you determine how to sell a house in Philadelphia. Click here to learn how property buyers in your market can help you sell a home fast.