Selling a house can be a stressful ordeal, especially if you’re in a rush to get it sold. However, the home selling process can vary greatly based on your circumstances.
But how long does it take for a house to sell?
The answer depends on how you’re selling your house (among other things). It can take months to prep your house for the market, deal with potential buyers, and wait for the closing process to be completed. However, you can also sell your house in under two weeks if you work with a cash home buyer.
Not sure where that leaves you? Keep reading for a quick guide on what to expect when selling your home.
Realtor or FSBO?
Most often, people sell their homes using realtors. Realtors have an in-depth knowledge of the local housing market. They also have important connections with other realtors who have clients looking to buy.
Furthermore, real estate agents have access to multiple listing services where they can post your listing. Then, your house will be seen by potential home buyers on all the major house listing sites.
Selling your house on your own can take longer. Additionally, studies show that you’ll make less money in an FSBO property sale.
Are You Making Repairs or Renovations?
How long does it take for a house to sell if it needs work done?
Ultimately, it depends on how much work the house needs and what projects are necessary. For example, if the roof needs to be repaired or replaced, it can set you back several weeks. If you’re waiting on contractors, it comes down to how quickly they can come out and make the necessary repairs.
If you’re doing the work yourself, it depends on how much you have to do and how efficient you are. Typically, it takes homeowners anywhere from one to three months to prep their house for the market.
If you need to sell your house fast and don’t have time to make repairs, Doug Hopkins may be able to help. He specializes in buying houses for cash. This is the fastest way to sell a home for people facing foreclosures and other time-sensitive issues.
How is the Current Housing Market?
Assuming you’re not selling your house to a cash buyer, your home selling timeline will also be dictated by the housing market. In a buyer’s market, there are plenty of houses for sale and not many buyers. This allows the buyer to pick and choose between houses and negotiate for lower prices.
In a seller’s market, there aren’t as many properties for sale, but plenty of buyers. As a home seller, this gives you an advantage. You’ll have multiple offers, which can lead to a bidding war and higher earnings.
In a buyer’s market, houses can sit for months without any serious offers. In a seller’s market, homes have been known to sell on the first day of the listing.
Negotiating and Closing
How long does it take for a house to sell after an offer is made?
Finally, remember that getting an offer isn’t the same as making a sale. It can take days or weeks to negotiate with the buyer. They may request certain repairs or renovations as well, which can take even longer (if you agree to them).
Once all the terms have been met and both parties agree to the offer, you still have to wait for the mortgage company to close on the home. This underwriting process usually takes three to six weeks.
How Long Does It Take for a House to Sell?
As you can see, the answer to “How long does it take for a house to sell?” can change drastically from homeowner to homeowner. But remember, if you’re in a bind and need your house sold fast, you can always go with a cash buyer.