In a buyers’ market, it is still possible to sell your house in five days. You will need to be willing to try something different and a little bold, but the payoff is well worth it. It’s all about price, promotion, staging, and an unusual way of accepting offers. Trying to sell your house in five days is intense, but exciting: With a little luck, you’ll sell your home in record time.
1 Stop your advertising. Take the sign out of the yard, get all ads cancelled and stop any sale announcements you have in the newspaper classifieds. You want your listing to seem new when you advertise again.
2 Research sales in your neighbourhood in the last year. You can often get this information from your local government’s tax records, or search websites that give sales information. Don’t just go by the final selling prices, take into account square footage, amenities, and number of days on the market.
3 Price your home about 5 percent less than recent sales in your area.This may be tough, but price will have to be the No. 1 factor, if you want to sell a house quickly in a challenging real estate market.
4 Order a home inspection and termite report. This is usually done after an offer is made, but having an official inspection on-site, gives potential buyers an extra measure of security.
5 Plan a one-day sale and advertise to the extreme: Use the newspaper, Craigslist, fliers, posters, and any other advertising ideas you are willing to fund. Send an announcement to all the real estate offices in town; Even though you’re selling by owner, you can offer to entertain the idea of an agent sale, with his commission added on to the sale price. Make it clear in all your ads that you are prepared to take sealed bids the day of the sale: You’ll sell to the highest bidder, as long as the price meets your undisclosed reserve.
6 Get your house ready. Toss the clutter, stage the house, and make the front of your home a great first impression. Open draperies and blinds to let the light in, because buyers don’t like dark homes. Banish personal items, such as artwork on the fridge and school pictures on the walls. Buyers want to see themselves in the house, and they can’t do it with a lot of personal stuff in the way. Give each room a clear purpose: What’s that room with the ironing board, television, and assorted toys?
7 Accept sealed bids during the one-day sale. At the end of the sale, review the bids; Call each bidder and tell him what the top bid is, and give him the option of increasing his bid. When you have a bid no-one will top; you have sold your home.
Tips & Warnings
Advertise heavily on the Internet: A friend of mine who has a Spanish property portal says one in three homes sold today, are first noticed on the web. Show a floor plan, list all details and have clear pictures. Serve lemonade and cookies during your one-day sale.