Make a bad real estate buy? Got orders to ship out or re-assigned to a new office as soon as you inked the deal on a new home? Well, the good news is that you can sell your house immediately after buying it – but it does come at a price.
For example, the closing costs, loan origination and appraisal fees, down payments on insurance and taxes that you started accruing as soon as you made the purchase. You will likely have to eat all of these costs unless you are able to sell your new home for significantly more than you just paid, which is not likely.
But nevertheless, selling your house immediately (or close to it) after buying it is possible and not an uncommon problem. Here’s how to do it.
Selling Your House With a Real Estate Agent
In order to sell your house as soon as possible after buying it, you’ll need to either work with a real estate agent that has experience in short sales, or sell it for cash. Short sales are when a home is sold for less than the amount owed on the mortgage.
This is the most common outcome when selling a house very soon after buying it. The key to a successful short sale is working with an agent or a cash buying real estate investor that knows how to negotiate with the bank on your behalf.
Sell Your House to a House Flipper
If you sell your home to a cash buying real estate investor (also known as house flippers) for cash you can typically sell it much more quickly and avoid many of the costs associated with selling a home. This is highly beneficial since you just paid all of those costs when you bought your new house.
House flippers are investors that buy homes, usually in need of repairs, and sell them for a profit after fixing them up. They often pay cash for homes and can close very quickly (often within just seven days). However, you will loose out on some of your investment since you are receiving cash on your house – and immediate cash at that – rather than waiting to see if a buyer’s financing comes through and whether that will cover your asking price.
Get Creative to Sell Your House Immediately
These creative strategies can help you to sell your house immediately after buying it.
Rent Out Your House
This can help to cover the costs of homeownership until you can sell your house to a new buyer. An already occupied rental home is very attractive to a real estate investor who already owns rental properties.
Declutter and Stage Your Home
If you’re planning on selling your recently purchased home, you might as well get an early start by deep cleaning and decluttering your home so that it’s ready for staging. Once it’s ready, hire a professional real estate photographer to take high-end pictures of your home for your listing. This will make it more appealing to potential buyers and help them to visualize themselves living in your space.
Offer a Home Warranty
This shows that you are confident in the condition of your home to potential buyers and that there are no underlying problems. A confident buyer is a buyer that’s more likely to buy your house.
Price Your Home Competitively
You may need to price your home below market value in order to sell quickly, but this could be worth it as you can get out from under it ASAP. If you put down a healthy downpayment, you may be able to pay off your new mortgage in full or even make a small profit.
Sell Your House to Quick Fix Real Estate
If selling your house that you just bought for cash is the route you chose to take – Quick Fix Real Estate would love to buy it. Our process starts with a no-obligation home inspection that leads to a real cash offer made to you on the spot.
Once you accept the offer, all that’s left for you to do is choose the closing date that works for you. We can have money in your hand as soon as today and you don’t have to make any repairs or get your home ready for staging and showings.