Have you been tracking this Seattle real estate market?
If you have… you know that things are HOT. Values are rising, and a nice house that hits the market will usually sell within days.
That’s all great if you’re looking for a conventional sale… and maybe you are.
The only problem with conventional Seattle real estate sales is that you will usually have to wait 30-60 days to get your money if the buyer is using conventional bank financing.
I don’t know about you, but I don’t like to wait for my money.
In this Seattle market you have options for selling your house.
The first thing you have to take a look at is the condition of your house.
Selling a Seattle house in poor condition
If you’re looking to sell your Seattle real estate, and it’s in poor condition, you might want to avoid the Multiple Listing Service (MLS), and Realtors all together. This way you can avoid the 6% listing fees.
When you sell to an investor you will almost always be getting a cash offer, and the ability to close in less than 30 days.
All an investors needs to do is get a really good estimate of what the repairs will cost before making a solid offer.
But, when you’re working with an investor make sure you have an idea of what you want for your house.
Also, consider that a real estate investor cannot buy your house if they don’t stand to make money at the end of the fixing process. This could mean as a fix and resell, or as a fix and rent out.
So, if you talk to an investor, and they give you an offer to buy your house know that if the offer seems really low to you, it’s simply because they are running a business that needs to make money.
If the offer makes sense to you and your situation, take the offer, and everyone wins.
Selling a Seattle house in good condition
If you think your house is in pretty good condition, you have a few more options.
You can try to get a high price by listing with a Realtor, but you’ll still have to pay the 6% listing fees.
Sell to an investor as a rental (if the rental rates in your area support rentals…). Or put a little money into your house, moving it into great condition, and really shoot for a top dollar home that buyers are looking for.
Most of the houses that are selling like hot cakes in the Seattle real estate market are in great condition, and feature newer looking kitchens and bathrooms.
Selling a Seattle house that’s in great condition
As long as you’re not overpricing your house, this shouldn’t be a hard thing to do in the current Seattle real estate market.
Right now buyers are everywhere, and there’s not enough houses on the market that are in great condition to fill the demand.
The question is… how can you get the most money from your house, and hopefully get a cash offer in the process…
We recommend listing your house at a discounted Realtor fee. If you know your house is going to sell very fast, then offer to pay your Realtor 1.5%. They will be helping you with the paper work (which is awesome), but won’t really be doing much sales.
If you’re comfortable with the real estate paperwork, sell your house without a Realtor.
In this market you don’t really need a Realtor to sell your house (assuming it’s in great condition, and isn’t messy).
You are also able to screen potential buyers.
Yes, you can actually do this. Or at least you can in this Seattle real estate market.
Simply ask potential buyers what their financing source is. You can demand cash transactions if you’d like. I don’t necessarily recommend that you do that, but you definitely could right now.
The upside to a cash offer on your great condition home is simply a quicker close date, and a little more confidence in the financing not falling through.
It is possible to avoid a failed transaction by lining up backup buyers. You can actually sign contracts with buyers in a backup position. They simply step in if the original buyer cannot close the transaction in the contract timeline.
Depending on the condition of your Seattle real estate, you have many options for selling. These are from cash all the way to seller financing (which we didn’t talk about here).
But, know that you have many options.
If you have any questions about these options feel free to contact us via email or drop a comment below.