As such, lots of people going through a divorce are searching for a quick way to sell their home and move onto the next chapter. Water invasion and flooding cause catastrophic damage on a house, and a home with a history of water damage can be more difficult to offer. It's also pricey to repair, with the typical water damage insurance coverage claim amounting to $7,000.
Similar to water damage, damage brought on by a fire is challenging and expensive to reverse. A good fire will damage your home to the ductwork and Sheetrock. Without adequate house owners insurance or the in advance money to make repair work, the only type of purchaser ready to take on your property might be an investor who can pay money and plans to gut it.
Whatever the case, you can either pursue an off-market sale with a money buyer, or, depending on your level of flexibility, sell on the free market with a couple of shortcuts worked in. Let's explore each opportunity. Option 1: Ask for an all-cash deal for your home When you offer a house, two steps tend to be the most time consuming: In a hot market, homes naturally offer quickly.
However in a regular year, your common days on market might be more like 35-40 days. A home in rough condition will also take longer than average to sell. A conventional purchaser who's planning to reside in the house will prefer that it be move-in prepared, and they might require the home to satisfy specific requirements for it to pass the appraisal.
On the other hand, data from Ellie Mae suggests the average purchase loan took an average 49 days to close since April 2021. Even if you do absolutely no home preparation and draw in a buyer in record time, you can't accelerate this closing timeline so long as there is lender involvement. This is why, as they state, "cash is king." Offering your house to a cash buyer efficiently gets rid of both of these weights that would otherwise slow you down.
Nevertheless, you can take much of the uncertainty out of the process by working straight with an operation that purchases homes for cash. How does selling for money work? Generally https://notes.io/JZM8 goes something like this: You skip the song-and-dance of staging your house to impress, and go straight to asking for a cash deal.