How to Sell Your House Fast During a Job Relocation
It can be very exciting relocating because of a new career opportunity in a different area. Whether it’s a promotion, new job or simply a change of scenery, it’s definitely an adventure to pick up and move your life. Some job relocations happen quickly and that may leave you with some tough decisions. You don’t want to miss out on an opportunity, so you have to be ready to move—sometimes at a moment’s notice.
If you own a house currently, you’ll be faced with decisions on what to do with it as you prepare for your job relocation. The best solution may be different on a case-by-case basis, but here are a few common options:
Sell it on the Open Market
If you have time to prepare the property, hire a real estate agent and go through a traditional sale, it will get you the best price. It just takes time and may require some out-of-pocket expenses. Moving to a new area usually isn’t cheap, and then you also have to be able to afford your new place. Unless the new job is paying for it all, you may not have the luxury of time. You may need to sell your house as fast as possible, so you can move quickly and comfortably cover your relocation expenses.
Sell it for Cash
A popular alternative to a traditional open market sale is a cash home sale. At PropertyLark, we work with many people who are relocating for work. They are in situations where they need to move soon and don’t have the time and/or money to go through the normal home selling process. A cash buyer (usually a real estate investor or investment group like PropertyLark) will pay all-cash for your house and the deal can be closed very fast. We’re talking weeks rather than the months it will take to finalize a traditional sale.
Most real estate investors will also buy your house in as-is condition. That means you don’t have to spend extra time or money making repairs or staging it for sale. Of course, the selling price will not be as high as you would get in a standard sale. However, you’ll have cash in hand quickly and the final net profit may not be as different as you think. You have to consider all the extra expenses that go into an open market sale, including real estate agent/brokerage commissions, closing costs, inspections, staging, marketing, etc. You also have to factor in ongoing homeownership costs you’ll be paying for several months while you wait for offers and for the transaction to officially close (mortgage, insurance, property taxes, utilities, etc.). These expenses add up, whereas a cash sale gives you a fast and easy outcome at a fair market value.
Lastly, you always have the option to hold onto the property if you can afford it. You can use it as a long-term rental or vacation rental income property. This can generate extra income if managed properly. This isn’t the ideal option for everyone, but it is worth looking into if you aren’t depending on the sale to fund your job relocation or purchase a house in your new area.
If you need to sell quickly because of a job relocation (or for any other reason) and are interested in getting a fair cash offer for your house, contact PropertyLark today. We can get you an offer within 24 hours of filling out our contact form, and we can work with you to set a desired move-out/closing date that fits your relocation schedule.