People selling homes are often in a hurry to get the real estate deal done and move on to other things.
But personal finance author and radio host Dave Ramsey has some important words for home sellers: There are right ways and wrong ways to attempt to sell a house quickly.
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The most vital consideration should be getting the best value for your real estate that you can. As many people’s largest investment, a mistake selling a house can be costly.
There are many options for ways to sell homes fast, Ramsey explains, and plenty of bad advice on how to do it.
Unfortunately, in the personal finance coach’s opinion, many home sellers make the key mistake of choosing one of the wrong ways. And that results in what he calls “dumb decisions.”
So Ramsey explains some strategies for selling houses quickly and differentiates between the good ones and bad ones.
Ramsey says home sellers should not use these methods
The Ramsey Show host says that one approach to avoid for selling a home quickly is For Sale By Owner (FSBO).
“It sounds like a good idea when you hear that 77% of FSBO homes sold in fewer than two weeks in 2020,” Ramsey wrote. “But there’s a catch — most of these homes were sold to someone the sellers already knew.”
So that means if a home seller does not already have a buyer in mind, it can take much longer find one. And homes sold using an agent typically sell for significantly more, making the seller much more money even after commission fees.
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Another mistake people make is asking for a price that is too high or too low. An appraisal and the help of an agent both can help in this regard as well.
Ramsey also warns against using real estate companies such as Zillow, Opendoor and Redfin. These are iBuyers, who buy homes from private sellers and then resell them for a profit.
If a company is selling a home for a higher price than they paid for it, then that means the home seller just missed out on its market value.
A row of houses is pictured. Dave Ramsey has advice for people wanting to sell their homes quickly.
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Ramsey advises home sellers to use these approaches
Instead of using those methods of selling homes, Ramsey first suggests finding a great real estate agent with demonstrated experience selling homes quickly.
A proven agent will know how to set a good price for a home, stage the home for prospective purchasers, assist in choosing an offer and negotiate a good deal.
Talent in these areas can make a sale happen quickly and get a home seller the best value.
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Ramsey also suggests a deep clean of the home that includes removing all clutter. It’s common sense to clean a home for showings, but it’s important to make this a major focus.
“Get down to the nitty-gritty, from ceiling fans and window blinds to baseboards and tile grout,” Ramsey wrote. “No surface goes unscrubbed!”
Ramsey also emphasizes the importance of staging the home for showings as if it is a fine art form.
Taking care of any possible problems in the closing process well in advance is also vital.
These include anything that could come up during the home inspection, including plumbing problems, roof damage and electrical issues.
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