In the fix and flip business, time is money. The following five strategies will make sure you sell your home and close quickly.
1. Obtain a Wholesale Cash Price
The fastest way to sell a home is to look for a motivated buyer who will pay a wholesale price for the property. If you price the home right, you can sell it quickly. Before pricing your home, do your research.
Also consider networking with local wholesale investors and know what they are looking for. If you have a home you think they might be interested in, call them with the possibility of selling the home quickly.
Consider the comparable home sales in the area and the amount of work the home requires. If your buyer is interested in flipping the home, cost will be a factor. Be realistic about the home’s value and you will be more likely to obtain a wholesale cash price from a motivated house flipper.
2. Find a Buyer to Pay 100% of Purchase Price
If you can find a buyer to pay 100% of the purchase price in cash, you can make a quick sale on the home and minimize the length of the closing period. Paying for a home in cash means there will be no mortgage origination fees or appraisal fees that lenders typically require for home-buyers.
Dealing with a cash buyer also alleviates the concerns that the deal won’t go through due to financing being denied.
3. Find a Real Estate Investor Interested in a Great Deal
Using a targeted approach to selling your property will speed up the process. Reach out to local real estate investors to offer the property before listing in the MLS. This way, your property is in front of an interested audience right from the start. They’re looking for great deals, and your property might be exactly what they want.
4. Speed Up the Steps that Delay Closing
Recommend that your potential buyers get pre-approved, even if they’re just considering buying the home. This speeds up the process considerably because they know what they can afford and are able to put down. Have a few possible Mortgage Loan Originators (MLOs) that offer quality services to buyers who are not pre-approved.
Sound Too Good To Be True? It’s Not.
Gorilla Capital buys houses for cash. We pay 100% of the purchase price without requiring appraisals or repairs that most lenders require.
If you’re motivated to make a quick sale on a home, learn more about our custom fix and flip program. Start here and you’ll receive all the information you need to get started.