If you’ve ever felt the frustration of listing a house without getting any offers,
you might be wondering how to get rid of a house that won’t sell.
Have a house that sat on the market without piquing the interest of buyers?
Then you’ve probably already spent time, money, and energy to try to sell the
house. You’ve done some research, found a real estate agent. You might have
even let the listing expire only to relist it again or decrease the price.
Selling a house is stressful enough without the delay of a house that won’t
sell. Fortunately, sellers facing this stressful situation have several alternative
options to consider.
My House Isn’t Selling – What Can I Do?
If your house is having trouble selling on the open market, there are several
things you can do. Deciding what action to take depends on your goals and
your reason for selling in the first place. Below are some considerations in
choosing a strategy on how to get rid of a house that won’t sell.
Upsizing Or Downsizing
If you’re selling your house to upsize or downsize, consider waiting to sell the
house. It’s possible that the house isn’t selling because of market conditions,
which tend to change over time. If there is no urgency to move, consider
waiting.
Moving
If your need for relocating is more urgent and the house won’t sell, try renting
it out. Even if you can’t rent out the house high enough to cover the entire
mortgage and escrow, it still beats paying two mortgages (or a mortgage and
rental rate).
Keep in mind that maintaining a rental property takes time and work. Renting
out a house turns the seller into a landlord responsible for maintaining the
house, keeping it tenant-occupied, and collecting rent.
If you want quick cash for an as is house, consider selling to a home buyer.
Selling the house as is not only prevents sellers from having to make repairs,
but also expedites the sales process since the home buyer buys the house for
cash,rather than having an agent list the house, market it, and then find the
right buyer. Most buyers looking on the multiple listing service (MLS) are
looking for houses that are move-in ready. Houses sold as is aren’t considered
move-in ready since they need repairs. This is why a home buyer makes the
perfect option for sellers in this situation.
Financial
If you’re selling the house for a financial reason, the above options may not be
ideal. You might not be able to pay for the mortgage or needed repairs. Or
perhaps you need fast cash for an unexpected expense and have other living
accommodations that are more affordable than your house.
If you can’t afford the house or expensive repairs, you might consider taking
out a new mortgage or refinancing your house. Before considering these
options, speak with a trusted financial adviser who can walk you through the
benefits and challenges of each option.
Another option for sellers in a financial bind or who want to sell quickly is to
sell the house as is to a real estate investor. Selling a home as-is is a great,
popular option for how to get rid of a house that won’t sell.
How To Get Rid Of a House That Won’t Sell:
The Option Of Selling As Is
Selling a house “as is” refers to houses listed for sale that require repairs or
updates. While these houses sell below full market value (because they aren’t
up to par with market standards), sellers benefit from a quicker, easier sale
than listing the house on the open market with a real estate agent.
Sell House As Is For Cash
If you want quick cash for an as is house, consider selling to a real estate
investor. Selling the house as is not only prevents sellers from having to make
repairs, but also expedites the sales process since the home buyer buys the
house for cash, rather than having an agent list the house, market it, and then
find the right buyer. Most buyers looking on the multiple listing service (MLS)
are looking for houses that are move-in ready. Houses sold as is aren’t
considered move-in ready since they need repairs. This is why a home buyer
makes the perfect option for sellers in this situation.
I Want to Sell My House Now
If you want to sell your house now, the best way to start is researching
researching real estate investors in your area.
Make sure you work with a local investor that understands your market (rather
than a company offering to buy your house sight unseen).
Contact us for a free, no-risk quote within
24 hours.
Get a Quick Cash Offer | Call 804-399-9337