Are you looking to sell your home?
You’re not alone. Every year, over 5 million existing homes are sold in the United States.
Maybe you want to downsize or upsize, or you want to move to another neighborhood. Perhaps you’re even going through a divorce and you have no choice but to sell the property as part of a property-sharing agreement.
Regardless of your reason for selling, it’s clear your mind is made up.
But how long does it take to sell a house? Is it a matter of days? A week?Several months?
Continue reading for an answer to your question.
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How Long Does it Take to Sell a House?
Straight out of the block, there’s no standard timeframe for selling a house. Neither is there a standard formula for figuring out how long a certain house will take to sell.
There are several variables that’ll influence the amount of time your home takes to find a buyer. On average, though, most properties sell within 2-3 months.
The Factors That’ll Influence How Fast Your House Will Sell
Now that you have an idea of the average time to sell a house, let’s dive into the various factors that will determine how quickly you sell yours.
How many items have you avoided buying something just because the price was too high for you? Countless, no doubt!
The same goes for when you’re selling a house. People love it when they snap up something at a great discount or at a price that’s below the market average.
So, if your home’s current value sits at $100,000 and you place an $85,000 price tag on it, you’re far more likely to get several offers within a short time – as long it has the right exposure.
Sure, selling your house below its value can mean you’re taking a loss, but when your aim is to sell really fast, this might be your best option.
The Type of Buyer
There are two tips for buyers: those who buy in cash and those who are mortgage-financed.
Selling to a cash buyer typically results in a quick sale. As long as the paperwork is straight and the buyer wants the house, you can close the deal in one or two days.
The more exciting news is there are companies looking to purchase from people who want to sell house fast.
On the other hand, mortgage buyers need to get a green light from their lenders. The mortgage approval process can take a month or longer, meaning you’ll have no option but to wait.
The State of the Property
What’s the condition of the house you want to sell?
Does it look rusty and worn-down? Does it need extensive repairs?
If yes, offers will come in few and far between, and when they do, you certainly won’t like them. But if your property is in good condition and the curb appeal is on point, offers will likely come in thick and fast, especially if it’s a hot market.
Selling Your Home Can Take Time
So, how long does it take to sell a house?
It helps to step into the market with the 2-3 months mindset, but the exact amount of time it takes could vary wildly, typically depending on the factors we’ve fleshed out above.
Keep reading our blog for more home selling tips and insights.