Selling your home through the quick house sale market: What are the key considerations?

Fri, Jan 29, 2016

Financial Advice, Investment

If you have not heard of the quick house sale market, you are missing out on one of the most seminal real estate trends of the last seven years. This market emerged in the aftermath of the great recession, which decimated the global real estate sector and left millions facing huge mortgage defaults. Even though the economy has gradually stabilized during the last five years, there remains a huge demand for quick house sale firms while the motivation of clients has also evolved considerably.

Given the popular and evolving nature of this market, what are the key considerations when deciding whether or not to sell your home through such a medium? Here are three of the most important things to bear in mind: –

What is your Priority as a vendor?

While you may be in the market for a quick sale, it is also important to optimise the profitability of your initial real estate investment where possible. It is difficult to choose a viable course of action when attempting to prioritise time and cost equally, however, so you will need to determine which is more important before making a decision. If the speed of your sale is more important than the bottom line sale price (whether you are experiencing financial difficulties or simply require the capital for an alternative investment), then the quick house sale market may be your best option.

The Depth and Competitive nature of the Market

While the quick house sale market was once considered as something as a niche sector, it has since evolved into a mainstream entity that caters to a diverse client base (both affluent and cash-poor). This has increased the level of market competition, while creating a huge range of popular home buyers that educate you on how to sell your house quickly and deliver reliable, efficient services. With this in mind, those considering selling their home through this medium will need to compare the market and request several valuations in a bid to optimise the resale value of their property.

If you have existing financial resources and are simply considering the sale of the property to reorganise your investment portfolio, you may want to consider holding on to your home and leasing it as a rental property. After all, this market is expected to grow exponentially in the next 17 years, particularly in developed and saturated regions such as the U.S and the UK.

Do you have debt that needs to be repaid upon completion?

If you have been unfortunate enough to run-up mortgage arrears or defaulted on your loan agreement, you may well consider the quick house sale market to be your last refuge. While this may be the case, it is still important to calculate your cumulative debt and measure this against the offers that you receive for your property. If you do not receive a high enough bid to cover your liability, you may want to compare the market further or negotiate more aggressively with firms.

 

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