How To Get Rid of A House That Won’t Sell
By: Kyle Spearin
At some point, everyone who tries to sell a home will find themselves with a home that simply won’t sell. Whether it is your own home or a property that you invested in, it can be frustrating to hit this wall.
If you are hoping to get a return on the home or simply want to be rid of the property so you can move into your new home, knowing how to move a house is important. In this post, we will discuss some of the last-ditch efforts you can try to move a house that won’t seem to sell.
Rent Your Home Instead
Many people become frustrated with their home not selling, but a sale isn’t your only option. If you have been losing money on a home because it won’t sell, consider bridging the gap with a rental. While your home might not be in a good area to sell, it can be easier to convince someone to rent it. Renting allows you to start bringing an income, even if you have the property still in your name. It also opens you to an entirely new client base that might be interested.
Renting is a great and effective way to make money, particularly if sales just aren’t happening in your area. With renting, you can bring in a good income and cover the home expenses while you wait for the market to turn. Some clients are even looking to rent a home before buying it, which can help you to eventually move the house in the long run.
Lower The Price To Under Market Value
For a faster sale, consider holding a sale. Selling for below market value isn’t ideal. Most people would prefer not to do this, but it can be a great last resort. In some cases, you can even do this without losing money, particularly as an investor. If you have found yourself in an instance where you really need to sell a house, this can yield quick results.
The real power of this is that sometimes, your home might not be ideal for what it is worth. This is even more true if you’re in an area with a lot of options. However, at a lower price, your home can become the dream home someone else is willing to reach for, which makes it move much faster. It is also a good way to come in contact with other investors looking for a deal.
Seek Out A New Agent
Sometimes, a house that isn’t selling tells a much bigger story. While the real estate industry is known for its collection of talented individuals, some people aren’t the right fit for a property. If you really notice very little attention on a property, the home itself might not be to blame. It can be uncomfortable to have these talks, but it might benefit you in the long run.
Keep an eye on the movement of other homes in the area. Do neighbors seem to be having more luck with sales than you? Is your home filled with notably redeeming qualities and still not selling? Your agent could be the problem. Look for a great real estate agent that understands your area instead.
Improve The Property
Depending on the property that you have, you might need to do a little work. Even a perfectly nice house won’t stand out well against a collection of nicer properties, particularly if the pricing is similar. Fortunately, simple improvements can have a huge influence on the sales quality of a home. Improve the property to be more in line with what buyers are looking for and you will see the results.
Simple property improvements can make your home more appealing by adding perks for the buyers. Most buyers want a home with a modern feel, so simple fixes can go a long way in bringing up the quality of your home. Improving your home can help make the decision for buyers, so give them a reason to say yes to you instead of passing you up for another improved property.
Sell Your Home To A Cash Buyer
When in doubt, cash buyers will always take on a home. Even the most basic and rundown home can be sold for cash to cash buyers. If you have a nice home, you can even expect to get more. The important part is that this money will be available to you immediately, making it a great way to move a house quickly.
Cash buyers do not rely on loans or other processes in most cases, which means that they can move on a sale quickly. It is a great option for those who simply want to pass a property on and want an immediate payout. Many people utilize this approach when moving states or if they find a home that they want to move on but can’t without selling their own home first. This is a great last-ditch opportunity that can yield results sooner rather than later.
Moving a home that won’t sell can be frustrating and can leave you feeling hopeless, but there is always something to be done. Make changes as needed and be open to creative solutions in order to move your home. It always works out in the end.