There’s no shortage of house buyers and sellers in today’s housing market. With a total worth of about $156.2 billion, the real estate market is a thriving marketplace brimming with buyers and sellers.
However, this doesn’t mean that selling your house will be a walk in the park. The home selling process is complicated and can drag on for ages if you don’t get it right. That’s why some homes remain in the market for months without a single offer.
So how long does it take to sell a house? And how can you sell your house as fast as possible? Keep reading as we explore the answers to these questions and more about the home-selling process.
Average House-Selling Time
How long it will take to sell your house depends on many factors, some of which are out of your control.
According to Zillow, it takes about eight months to sell your home. You’ll spend around six months preparing your home for selling and 25 days to get a prospective buyer. Closing the deal will take another 30-45 days, totaling eight months for the entire process.
That said, homes in some areas sell much faster than homes in other areas. Here are a few cities with the fastest home-selling times.
- Denver(Colorado) – 9 days
- Raleigh(North Carolina)- 10 days
- Grand Rapids(Michigan)- 11.5 days
These are a few cities where homes sell like hotcakes. On the other side of the spectrum, we have cities where homes sell the slowest. Some of these cities include:-
- Oklahoma City(Oklahoma)- 23 days
- Charleston(South Carolina)- 26 days
- Dallas-Fort Worth(Texas)- 28 days
If you live in any of these cities, brace yourself for a long wait before you sell your house. However, with the right home selling tips, you should be able to sell your house in no more than two weeks.
The Home Selling Timeline
Selling your home isn’t as easy as posting your home on listing sites and expecting cash offers from prospective buyers. Here is a brief breakdown of selling your home.
Listing Your Property
The first step to selling your home is listing your property on home-buying sites. The more sites you list your house on, the higher your chances of landing a prospective buyer. Listing your home lets real estate agents schedule showings and house walkthroughs for potential buyers.
Liaise with a reputable real estate agent for the best advice on listing your property. They’ll have incredible insights on stuff like when to sell your house for the best offers. After listing your house, you can move to the next stage.
Review and Accept Offers
Provided you have a good house, offers from prospective buyers will start streaming in after listing your property. If you receive an offer lower than what you expected, it’s on you to negotiate with the buyer for a better price. However, you can accept the offer as-is if you’re in a desperate situation.
Once you settle on a price that’s fair for both of you, you can proceed to the next stage. Also, consider selling your house for cash if you need urgent money for your home.
Home Appraisal and Inspection
Listing your home and getting a good offer for your home is just the beginning. Don’t start celebrating yet, because you still have the home appraisal and inspection to complete.
A home appraisal gives a professional estimate of your home’s current market value. It helps you from getting too far from your home than you should. It also keeps the buyer from overpaying for a house that’s not worth the money
A home inspection, on the other hand, is a comprehensive inspection of your home. The inspection checks for any defects and whether all systems are in proper working condition. It also looks for any health and safety issues that may be present in the house
It’s worth noting that sometimes appraisals and inspections may take longer than expected. That’s why most house sales don’t close as early as anticipated. Remember, if the house inspection uncovers serious issues with your house, the buyer might revert their offer.
Final Negotiations
At this stage, you’re almost done with the home-selling process. The final negotiation is where you settle on a final buying price for the house. The buyers will also bring any contingencies they want you to meet before closing the deal.
Closing
Closing is where you finalize the deal and hand over the house keys. Congratulations! You’ve finally sold your home for, hopefully, the right price. All you have to do now is sign the closing documents and receive money from the buyer.
Remember, you must rid the house of all your personal property before the closing date.
Tips to Make Your House Sell Faster
Now that you know how to sell a house and the house-selling process, here are a few tips for selling your home in the quickest time possible.
Do serious cleaning and decluttering; Your home should be looking spic-and-span by the time buyers come for viewing or walkthroughs. You can hire a house cleaning service for the best results.
Pick the right selling strategy: Pick a selling strategy that works for your particular situation. Liaise with an experienced real estate agent to help you make the right pick.
Make small repairs: Arrange for minor repairs here and there to keep your home in pristine shape. Remember, the inspection will uncover any defects and lower your home’s value.
Hire a professional photographer: Hire a professional photographer for all your listing photos. That way, they can bring the best out of your home to attract the right buyers.
How Long Does It Take to Sell a House? Answered
The next time anyone asks how long does it take to sell a house, we believe you’ll be well-equipped to give the right answers. Make sure you take the right steps to ensure your home sells in a flash. Remember, your real estate agent is an invaluable asset when selling your home.
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