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As such, many individuals going through a divorce are searching for a fast way to offer their home and move onto the next chapter. Water intrusion and flooding inflict catastrophic damage on a house, and a house with a history of water damage can be more difficult to sell. It's also expensive to fix, with the average water damage insurance coverage claim amounting to $7,000.
Similar to water damage, damage caused by a fire is tough and expensive to undo. A good fire will ruin your house to the ductwork and Sheetrock. Without sufficient house owners insurance or the in advance money to make repair work, the only kind of purchaser ready to take on your home may be an investor who can pay money and prepares to gut it.
Whatever the case, you can either pursue an off-market sale with a money buyer, or, depending on your level of flexibility, offer on the open market with a couple of shortcuts worked in. Let's explore each avenue. Alternative 1: Request an all-cash offer for your home When you sell a house, two actions tend to be the most time consuming: In a hot market, houses naturally offer quick.
But in a regular year, your common days on market might be more like 35-40 days. Additional Info in rough condition will likewise take longer than typical to offer. A conventional purchaser who's planning to live in the home will prefer that it be move-in ready, and they may need the home to meet specific standards for it to pass the appraisal.
On the other hand, data from Ellie Mae indicates the typical purchase loan took a typical 49 days to close since April 2021. Even if you do no house preparation and draw in a purchaser in record time, you can't speed up this closing timeline so long as there is loan provider involvement. This is why, as they state, "money is king." Selling your home to a cash buyer effectively removes both of these weights that would otherwise slow you down.
However, you can take much of the unpredictability out of the procedure by working directly with an operation that purchases homes for money. How does selling for cash work? Normally it goes something like this: You skip the song-and-dance of staging your home to impress, and go straight to requesting a cash offer.