If you are looking to sell your house, there is not one way to do so. There are several ways in which you can effectively sell your house. You do not need to go the traditional route every time. Here are some of the ways that are equally as good when you are selling a property.
Transfer Your Mortgage
For this to happen, first you will have to consult your mortgage documents. If these documents say that your loan is transferrable, you have lucked out. This means that you have an additional way to sell your house if you want to. Though it may seem like the last thing you want to do there are many benefits to it. For example, it can mean that you can even stay in your current house and rent it.
Before you do this, you have to consider who the new buyer is and of they can qualify for a mortgage. For the process and any other queries related to the matter you can contact your bank, and they will guide you after you have found a new buyer.
Selling by Auction
You can also sell your house through an auction. This can be done with the help of a real estate agent that will conduct the auction on your behalf, under the regulations and rules of your state. An auction is usually conducted after several weeks of advertising. Because of the nature of the event, an auction can create and environment of urgency and competition. This ensures that you can get the highest possible price of the property. Many experts believe that the number at which your house sells at an auction is actually true market value at that time.
Some of the benefits of an auction can be that auctions attract more buyers, you are protected by reserve price, and the fact that an auction results in an unconditional contract with a settlement date that is set.
Sell to A Wholesaler
The fact is that 40 percent of real estate transactions all happen without banks and in cash. If you sell through a wholesaler, though you would not get top dollar but you will get a fair amount of cash. These wholesalers have clients that buy properties quickly and all in cash. But keep in mind that in such deals you get 60 to 70 percent on the dollar, but what you require is cash at the time, this might be the right way for you.
Sale by Expressions of Interest (EOI)
Sale by Expressions of Interest happens in such a way that buyers are invited to present their offers by a selected date and time, after you put it on the market. It usually lasts on average of 4 to 6 weeks. At the end of this period, the seller (you) review these offers and select the one which you like. Buyers usually submit documents that show the price they are willing to pay, and conditions of the sale.
If you do not like any offer, the property goes on the market again and you go through the same process. This way has several advantages like it allows for intensity of the auction without stress, it helps you keep your property price discreet, it generates competition, and creates urgency in the process.
Sell Your Home Online
Another way is to sell your property online. There are many online websites that allow you to put up your house on their pages, for a very low fee. These sites allow the potential buyers to get virtual tours and look at photos of the property. With most of the buyers searching properties online nowadays, it can be an effective way of selling your house.