Sometimes life throws you a curveball and you have to uproot everything and move. One of the toughest things to do is to sell your house ASAP and still manage to get value for it. If you happen to reside in the Los Angeles area and you wish to sell your current house quickly (and possibly for a good buck), then fret not. If you are someone who wonders, “How do I sell my house fast in Los Angeles?” continue reading to learn more.
1. Consider Selling to a Wholesaler
About 4 out of 10 real estate transactions in the U.S. happen on a cash basis. Cash transactions help to avoid the logistics of involving a bank while also eliminating the often-cumbersome issue of underwriting. The beauty of selling to a wholesaler is they act as a middleman for your house sale. Yes, you won’t get an exceptional price for your house, but it’ll be a fair amount. Wholesalers often have cash buyers with a known set of inventories, so all that a wholesaler has to do is place your house under contract and flip it to one of their cash buyers.
2. Get a Top-Rated Real Estate Agent
The thing with realtors is that it could take several years for them to garner an excellent reputation. Top-notch realtors typically have years, if not decades, of experience under their belts, and with experience comes all the right connections. So, do a simple online search and look for the best real estate agents in L.A. with positive feedback, then reach out and see whether they’ll list your property. Your realtor’s experience, coupled with a bit of luck, means your house might just sell fast.
3. Lower the Price Substantially
Now that I want to sell my house fast in Los Angeles, do I have to lower my price? This one’s going to hurt, but you have to take it on the chin if you want a quick sale. Besides, the fundamental laws of demand state that the lower the cost of an item, the higher it’s demand. So you might have to slash your house’s value by anywhere between 10 to 30 percent if you want to turn heads. A considerable discount might be the perfect incentive for a quick sale.
4. Take the Short Sale Route
A short sale is a painful and often embarrassing path to take, but if you’re trying to get a quick deal, then the end will justify the means. What exactly is a short sale? Well, it’s a situation where you, as the home seller, sell the house for a lower amount than you owe on your mortgage.
Your bank could agree on the short sale to regain the amount of the mortgage owed to them. The main pitfall of a short sale is you won’t receive a cash-out as the homeowner, but you will save on home sale fees and still manage to part with your home.
5. Transfer Your Mortgage to a Third Party
If your mortgage payments have you on the ropes, then this is a viable option. It involves a fair bit of work, but it is doable. Passing on your mortgage to a third party means the new borrower has to qualify for that mortgage. If you’re fortunate enough to find someone willing to assume the mortgage, then you could comfortably say adios to your house. Worries like, ‘how do I sell my house fast in Los Angeles?’ will not be an issue anymore.
If you’re looking to quickly sell your L.A. home, then consider reaching out to reputed buyers like Nela Buys Homes, who will have a wealth of experience in buying and selling properties through smooth and straightforward transactions.