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Look out for these 3 'sell fast' alternatives Specific paths to selling your home may sound like a shortcut but aren't what they appear. Here are a few alternatives to prevent: Short sales The main point you need to understand about short sales is that the "short" describes cash, not time.

As a basic guideline, short sales take a lot longer to complete than a routine sale.  Did you see this? , who does service in the Philadelphia area, states: "They call it a short sale, however it's the furthest thing from a brief sale. The quickest brief sale I had was probably about 4 months, and I have actually had short sales that lasted over two years." Not only will a brief sale take a lot longer to finish, a lot of sellers aren't even eligible to brief sell their houses.

So if you wish to offer your home quick, a short sale is certainly not the method to go. Auctions If you believe auctions are just a choice for desperate sellers and banks unloading foreclosure houses, you're mistaken. Any homeowner can sell their home at an auction. However, there are trade-offs.

According to Forbes, auctioned homes take an average of 45 to 60 days from noting to close. Selling at auction is dangerous, too, since you have limited control over the last prices. As the seller, you set the minimum bid you'll accept, typically at 10%-15% below current market worth (auction experts advise this to create more interest among buyers), but after that, it depends on you to accept the last bid.

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Not all residential or commercial properties are ideally positioned for auctions either. NAR recommends that sellers self-test the marketplace, their home and their financial situation with the Two-Thirds Guideline to determine if an auction is the right alternative. One of the major aspects is that your house needs to be carrying a great deal of equity approximately 25% to see any cash from an auction sale.

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According to NAR's 2020 Profile of Homebuyers and Sellers, a simple 8% of recent sellers went the FSBO path. It tends to be an alternative people choose when they currently have a buyer lined up. Of those who did go it alone, 51% currently understood the purchaser of their home before the deal, and 30% offered their home to a pal, relative, or neighbor.