If you own a townhouse and looking to sell it off quickly, you will need a specific strategy and actions. It is true that the faster you can sell your property, the higher the price it will fetch from the market. However, it is not easy to define “fast” when it comes to properties.
Selling a house is not like selling a fast-moving product. Even if you put your property on sale for pennies on the dollar, it will still take some time to go off the block. It takes getting over several hurdles and a series of red tapes, commission, and fees to sell a house at a fair deal.
In this post, we will share some practical tips that will help you sell your townhouse fast. Here we go:
1. Find a Suitable Real Estate Agent
This is the first step towards selling your townhouse quickly. Hiring a reputable real estate agent who has a good track record of selling properties fast and at good market prices is crucial. A seasoned real estate agent knows the ways to sell properties, which is a win-win for both parties. Agents know about the neighborhoods like the palms of their hands. Your agent can tell you right away after walking into your home what buyers will or will not like. Ask your agent for suggestions about doing changes in your house to make it more saleable. Real estate agents these days involve in nearly every step of selling a property, starting from hiring a photographer, listing properties, talking to potential buyers, and giving them a house tour. You can make a list of a few agents and interview them to find the most suitable one.
2. Review the Buying Offers for a Convenient Sale
Once you hire a real estate agent, he/she will come to you with offers from potential buyers. You can sit with your agent to review the offers. There are several factors to consider, such as the current situation of the local real estate market, current average home pricing, changes in the industry, and others. It is not necessary that you have to wait longer to get the right price. If the offer price seems right considering the mentioned factors, you can consider it. You can also choose a closing date for a perfect time to sell.
3. Timing is Everything
Statistics show that spring and summer are the ideal times to sell properties, as during these seasons, families usually move before the new school year starts. On top of it, nice and clear weather makes it easier for home inspections. However, in different states, the right season to sell properties may vary. For example, in states such as Southern California, Florida, Phoenix, and Texas, spring and summer heat up a lot, and there are more chances of intense weather conditions like tornadoes and hurricanes.
According to the real estate news and information company Zillow, the ideal time to list a property to sell is between May 1st and 15th, and on a Saturday. Properties listed during this time sell faster and at a higher average value (0.7%) than the average home price in a year.
4. Transfer your Mortgage
Another way to sell your home faster is to transfer your mortgage to another person, which means find someone who will assume your mortgage. For this, you need to go through your mortgage papers to find out if it is assumable by someone else. If the documents show that your property’s mortgage is assumable, you can stay and rent the house. Even though it is not a common scenario, but it is possible.
5. Enhance the Curb Appeal of your Home
Remember that you need not overdo things when it comes to remodeling your home. Instead, you can focus on minor yet useful upgrades to enhance the curb appeal of your house to impress potential buyers. Particularly focus on making improvements in your kitchen and bathroom, because these places take the brunt of your day-to-day living. Make a list after walking through your home to see which areas need some polishing and repair work. Replacing a few damaged stuff and adding a fresh coat of paint can transform your home and make it more presentable.
6. Take Excellent Images of your Property
After making some small upgrades to your home, you need to present it in the best possible way by taking excellent photographs. A professional photographer can make your townhouse appear perfect for a property listing in newspapers and online. According to the National Association of Realtors, 44% of the buyers these days search for properties online, and 87% find property images quite useful.
If you are a little tight on budget and doing home upgrades can be difficult, try home staging. It is basically cleaning up your house and rearranging/renting furniture to make your home look spotless. A professional home stager can help you understand a buyer’s perspective, and how to highlight your property’s strengths and polish out the flaws.
7. Be Smart about the Listing Price
It is logical for you to list your home at the desired price. However, potential buyers will anyway negotiate to bring down the price. At times, buyers who are in a little hurry do not have time or patience to go through a series of negotiations and prefer to approach sellers who list their prices. You can discuss your real estate agent about listing your property price smartly and have strong reasons to convince the sellers.
8. Use the Power of Network and Social Media
These days, social media has become an integral part of people’s personal as well as professional life. More than 2 billion people all over the world use Facebook, 330 million use Twitter, and 1 billion people use Instagram every month. Share your property images and run promotional campaigns without denting your budget. Social media has the power to spread the word among potential buyers.
Before We Go
When it comes to selling your townhouse, please keep in mind that a few factors will always determine the outcome that no one can change. For example, the location of a property matters a lot, and it affects the selling speed. If your townhouse is in the middle of the city’s hotspot or a sought-after neighborhood, you are probably in luck. Other than this, the tips in this post will be handy to sell off your house faster. Start now to beat the competition!