National Association of Realtors estimates that a house remains on the market for about 40 days before it is sold. This period is calculated from the time the house is listed to the time the deal is closed. Homes are selling 30% faster compared to last year. How long does it really take to sell a house? There are many factors that determine this.
Listing the Home
Even this starting process can take 3-5 days. The agent after receiving your request will gather necessary information related to your home. This information will include photos, special features and square footage data of your house. These details will be uploaded to multiple property listing websites. Agents and prospective buyers will be able to view these listings. A shorter buyer friendly version will appear on realtor.com. Data of your home will be available for viewing to all industry people quickly once it is listed at these websites.
Receiving the Offer for Your Home
It depends on several factors but on average, it can take up to two months. You can receive an offer within a week as well or it can come later than this average time. There is no guarantee about it but most homes in a good condition can expect an offer within this average period. Even when it is a seller’s market, the response will depend on the price quoted and the type and condition of the house. You have to wait longer if the house is quite expensive, has a unique design, or is located in a rural area.
Closing the Deal
It can take 50 days for a buyer to finalize the deal. This time includes applying for the mortgage and getting approval for the same. Overall, this process for the buyer can take 50 days. It is a long time indeed but the buyer and mortgage company have to conduct their own due diligence. Each step of this process must be completed properly. All of it takes time before the buyer will pay you and take possession of the house.
Each Property is Different
You have to take into account the type of house you have, local real estate market condition, the price you are quoting, and the condition of the property. It is a quick sale if the property sells within 24 days. Some closings can extend to 60 days due to current pandemic climate. There are many things you can do to speed up this process and sell your home quickly. Prepare your house for sale so you receive a better offer and ensure a quick sale. Selling to a company that buys quickly for cash is a good option if you want to sell your home fast.
Calculate the Costs
Take into account your budget and finances. Consult a tax accountant and financial advisor if you need help in these matters. Your loan payment data must be up to date. You will be paying taxes, closing costs, commissions, and some other charges and fees. Calculate all these costs early so you do not face any surprise on the closing day.
If you want to sell your house faster, contact a company that offers quick cash for house. The deal will be closed quickly because no agent or end buyer is involved in this process.