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If you want to sell a home quickly for whatever reason, be it divorce, death of a family member, or foreclosure, you may have heard that selling for cash, as-is is the fastest way to do that. But just how soon can you expect to be out of your house, money in hand, and onto the next thing? How long does an as-is home sale take?
How Long Does a Traditional Home Sale Take?
Before we tell you what you really want to know, first, some context. You’re really going to appreciate what you read next about how long it takes to sell a home as-is once you know what the alternative is. And it isn’t pretty. According to Zillow, most homes stayed on the market for an average of 68 days. So, just over two months. If you need cash now, that’s not great, but that figure is even more concerning when you figure in a couple of things: that is the average, meaning that some homes were on the market for much, much longer than 68 days and that “on the market” means just that, listed for sale.
Some of these homes were on the market but were taken off, even though they didn’t sell. The sellers might have changed their minds about selling, or simply have gotten discouraged and given up. After a few months or even years of waiting for a home to sell, the buyers may have even decided to sell as-is.
How Long Does an As-Is Home Sale Take?
You can sell a home as-is in as little as five days. That’s right, five days. What’s the difference between that and a traditional sale? Just over two months.
While obviously every case is slightly different, selling as-is really can happen quickly in the span of just a week or two, as opposed to months. This is because the lengthy process of listing the home, doing showings, considering offers, and inspections is virtually cut out of the equation.
When you sell-as is, generally speaking, the buyer will appraise and inspect the house themselves or through an agent, and use that information to make an offer. The middlemen of realtors are cut out, and there’s no long approval process for the buyer to get financing for a mortgage.
If you are hoping to sell your home quickly, as-is or for cash, consider talking to the team at Hometown Development. A local real estate investment firm, we purchase properties in cash, and we can help you close in as little as 5 days. For more information about our process, give us a call at 616-379-3090 or contact us online today.
