How Long Does It Take to Sell My House?
How long it takes to sell your house depends on the method you use to sell your house. There are three main ways to sell your house fast in Cleveland, Ohio: A traditional home sale, a For Sale by Owner, and a cash home sale. Each method has pros and cons. So, you’ll need to do some homework to determine which method works best for you.
For instance, you may choose a traditional home sale if you have a lot of time and money and little to lose. A For Sale by Owner may work best if you are ambitious and have a little sales savvy. However, if you need to sell your house and get out of your mortgage quickly, your best option may be a cash home sale. Below, we compare each method and how long you can expect to sell your house.
Traditional Home Sale
What is It?
In a traditional home sale, you prepare your home for sale, hire a real estate agent, and list it on the market. You stage your house and show it to prospective buyers. Once you find a buyer, they get approved for mortgage financing and work out the sale details. You then close the sale with a real estate agent as your broker.
Pros and Cons
The upside to a traditional home sale is that a real estate agent manages all aspects of the sale for you. You may also find a buyer who agrees to your asking price and sale terms. The downside is that you pay all selling costs, closing costs, and realtor commissions.
How long does it take?
Experts report that the average traditional home sale takes 60 to 90 days. It can take longer if you have to make home repairs or upgrades. Plus, the closing period can take 30 to 45 days after you find a buyer.
For Sale by Owner
What is It?
In a For Sale by Owner, you are 100% responsible for all aspects of the sale. You must schedule a home appraisal and inspection, schedule all repairs, list the house, market the house, meet with potential buyers and handle the closing. You work directly with the buyer or their real estate agent.
Pros and Cons
A For Sale by Owner puts you in the driver’s seat and allows you to sell your house on your terms. If you are ambitious, hard-working, and sales savvy, you may be able to find a buyer and negotiate a deal that works in your favor. The downside is that you have to do all the work - which means you have time and money dedicated to the sale.
How long does it take?
If you include the time it takes to prep the house, plus the closing period, the average For Sale by Owner takes six to 12 months.
Cash Home Sale
What is It?
A cash home sale is a real estate transaction directly between the buyer and the seller. A local home buyer or house-buying company assesses your home’s current market value and makes a cash offer. If you accept the offer, you and the buyer agree on the sale terms and transfer property ownership.
Pros and Cons
The biggest drawback to a cash home sale is that you may have to lower the asking price to sell the house. However, there are zero closing costs, and you don’t have to pay realtor commissions. Plus, you make zero home repairs because you sell your house as-is. A cash home sale is ideal if you have a situation like a new job, bankruptcy, divorce, foreclosure, or probate and need to sell your property fast.
How long does it take?
A house-buying company in Cleveland, Ohio, will typically make a cash offer within one to two days after your first meeting. If you agree to sell, you can close in as little as one to two weeks.
Get a Quick Cash Offer from Home Buyers Ohio
If you need to sell your house fast and don’t have the patience for a traditional home sale, contact Home Buyers Ohio. We buy houses as-is in Cleveland, Ohio. Call 440-490-4600 to get a fast cash offer on your house.