If you’re wondering how to sell your house fast in Birmingham, AL, you’re in good company! With the COVID-19 pandemic, plenty of people are discovering that they want to make a move – whether that’s for financial reasons or because their job now lets them work remotely.
Regardless of the reason, people are looking to move, and move quickly!
Unfortunately, when you sell your home on the conventional real estate market, it can take some time. The seller’s agent typically takes photos and recommends some repairs.
They’ll then list it on various sites, market it, and maybe you’ll have an offer within a couple of months, closing another 30-45 days after that.
The problem is: you don’t have that much time. You want to sell ASAP.
Fortunately, there are ways to sell your home quickly. Here are the top three ways Birmingham residents can get out of their property and on to the next phase of their lives!
1. Sell My House Fast In Birmingham: The Best Option Is a Cash Investor
If you’re looking to sell your house fast in Birmingham, the best option, by far, is to sell to a cash investor.
You’ve likely seen the signs and browsed the websites, offering to buy your home for cash – no matter the condition or the repairs needed. You may have also seen some posts and content by real estate agents advising to sell via the traditional route instead of using one of these companies.
Do cash buyers work? Yes.
Cash investors provide buyers with two things that are invaluable for people looking to move quickly:
- a guaranteed offer that closes fast and has no financing component (so there’s no chance of it falling through), and
- a fair, reasonable offer for the home, no matter the condition.
Here’s an Example…
Consider the following scenario. Let’s say, hypothetically, that you have a new job in Florida that has a start date two weeks from now.
With a traditional real estate agent, the entire timeline would likely be over two months to sell your home (at the time of writing, the median days on the market is 56, and that’s consistent with the average for the past couple of years).
But your job starts in two weeks, not two months. As such, you’d have a couple of options. You could postpone your start date, which isn’t ideal. Or, you could commute back to Birmingham every once in a while to make sure your home is ok, sign documents, etc.
While you’re waiting for your house to sell, you still have to pay your property taxes, home insurance, and HOA dues, if you have them. You’ll also have to pay for any repairs that may arise. And, while you’re waiting, you can’t buy a new place near your new job!
Alternatively, you could sell to a cash buyer. They can come out, give you a fair offer, and close within two weeks. You’ll have the money you need to buy a new place near your new job, and it will allow you to make a clean break from your old city.
With a cash buyer, there are some other perks as well. Selling to a cash investor means:
- No real estate commissions. (That’s an extra 5-6% you can put in your pocket!)
- There are no property tax payments while you wait for your home to sell.
- No homeowners association dues (if applicable) while your home is on the market.
- You won’t pay home insurance while your home’s listing is active.
- No stress, worry, and commuting back to Birmingham to sell your home.
If you want to know how to sell your home fast in Birmingham, selling to a cash buyer is genuinely the best way!
2. Use a Realtor, But Price Your Home Aggressively
While selling to a cash buyer is probably your best bet for selling quickly, you can still sell your home fast in Birmingham if you want to use a real estate agent. However, to do so, you’ll likely have to price your home aggressively.
You can ask your real estate agent for advice, but if you look at homes that are comparable in the area and take, say, 10% off the asking price to get the house to move, you might be able to generate some quick interest.
Of course, you’ll also need to ask your agent to market your home aggressively (advertise it prominently on Zillow and similar sites, for example).
There’s no guarantee that this strategy will work, but pricing your home to sell is one way you will likely get an offer sooner rather than later. Please remember, though, that if the buyer is getting a mortgage, they will need at least another 30-45 days to close.
Therefore, it’s unlikely that you’ll be able to sell your property in less than 1-2 months, even with aggressive pricing.
3. If You Can’t Sell Your House Fast in Birmingham, Rent It Instead
Finally, one way that you could “sell” your home is to rent it. It’s not selling it per se, but you can have someone else pay your mortgage and bills.
This method can work if you need to move to take a new job, for example.
They can help build your equity while you figure out if you like the new state or not. Then, if you enjoy your new location, you could sell your home in a more reasonable timeframe.
Much like selling your home with a real estate agent, this plan has no guarantees. There’s no guarantee you’ll find tenants or that those tenants will stay. There’s also no guarantee that they won’t wreak havoc on your property.
Of course, this method won’t work if you face foreclosure or have some other immediate need to sell your Birmingham home (expensive repairs, e.g.).
However, this option is one possible way to stop paying your old property expenses while deciding if your new city or location is right for you.
Sell My House Fast in Birmingham: A Cash Buyer Is Best
Ultimately, a cash buyer is usually the best option to sell a house fast in Birmingham. There’s just no other option where you can get a fair offer and close in a matter of days.
Using a real estate agent and aggressively pricing your home, or renting it, can work but have no guarantees. Sometimes, if you need to price too aggressively, you could make significantly less money than with a cash buyer, factoring in advertising costs and real estate commissions.
If you’re interested in selling your Birmingham home, please contact us. We’d love to learn more about your property and see how we can get you out of your home fast!