With the latest employment numbers showing gains last November and December there's always the possibility that if you are looking for work outside your current area in which you reside or your current jobs requires you to relocate; you may be faced with the challenge of selling your home quickly.
Relocating to another city or state can pose many challenges in selling your current home. Several things you should take into consideration when selling your home in a rush are market stability, the home's condition and geographic location. All of which could affect the timeframe in how long it will take you to sell your house. Here are some helpful tips that may help increase your chances of selling your home quickly before you need to move.
First of all you should hire a real estate agent because they can list your home online, they can help you with proper staging of the home for maximum effect and they can bring in potential buyers. With a real estate agent tackling these important tasks this will free you up which will allow you to work on packing and preparing for the big move. If the home doesn't sell before you have to move then your real estate agent can continue to work on selling the home in your absence allowing you to start your life in your new location.
Another way of selling your home could be doing a lease option on the home. A lease option means that a contract is drawn up between you and another individual where they promise to pay a deposit on the house, usually 3 to 5 percent of the home's sale price, and then pay a monthly lease amount for a given period of time. At the end of the lease period, the other individual (a.k.a. the leasee) then takes over the mortgage either by assuming the current mortgage or by obtaining a new one on their own. It's a good idea to check with your current lender/bank to see if this is an option they will agree to. Furthermore, you should also have an attorney draw up the contracts so that both you and the buyer are protected.
A lesser known option for selling a home quickly when a company requires you move to another city or state is called the Employer Buyout. This is where your employer purchases your home from you and sells it for you. This is not a common practice so it is advised that you check with your company's human resources department to determine if this is indeed a viable option for you. On the other hand, if you are changing employers, then you should ask your new companys' human resources department to see if they offer relocation assistance by using the Employer Buyout option.
Since relocating usually happens very quickly, speed is of the essence and the internet can help you in that regard by listing your home online with websites such as eBay Classifieds, Yahoo Real Estate, ForSalebyOwner and/or Craigslist. Be sure to include an accurate description of the home as well as uploading great pictures that truly showcases the house. Be sure to also include the asking price and your contact information.
When all the other options haven't yielded any successful results then there's one last option you can use called the Deed In Lieu of Foreclosure. This option should only be used as a last resort. This comes into play when you haven't been able to sell your old home and you've already moved into a new home and you can't afford pay for two mortgages.
With this option you give the home back to the mortgage lender or bank in a deed in lieu of foreclosure that is an agreement which is reached between you and your lender/bank where they forgive the debt in exchange for the property. Please note that if you use this option your lender/bank should agree, in writing, that you will not be responsible for any losses incurred if the lender/bank resells your home for less than what you owed. However, don't be surprised if your lender/bank requires that you first try to sell your home.
As you just read, when you are relocating and you need to sell your home quickly, you have options. Real estate agents also have options when it comes to ordering their NHD reports. Top producing real estate agents know, that when they need the most complete and accurate NHD report available anywhere, Property I.D. is their go-to NHD provider.