Owning a home in New York State can be a great financial move. But not every home is a forever home, and not every investment is a wise one. Sometimes it makes sense to sell your home in New York State, and to do so quickly.
Unfortunately, selling a house is not usually something that can be done in a matter of days. Houses generally take months to sell; it took the average homeowner a total of 68 days to sell a house in 2018. And there’s no guarantee that you’ll beat or match that average. Depending on your market and the time of year that you put your property up for sale, the process could drag out much longer than average.
That’s not always a problem. But, in some cases, it can be. Here are some reasons why speed might matter to you, along with some tips for unloading your property quickly.
You’re dealing with building code violations
New York State building code regulations are a tricky thing. New York is a wonderful state, but there’s no denying that there’s plenty of red tape. And if your property is in violation of an important rule in a dangerous way, or if it’s simply putting its toe over some ticky-tacky line hidden deep in the building code, the result can be the same. You’ll be reprimanded, fined, and even blocked from making money through rent and other means.
You should try your best to avoid code violations, especially when breaking the rules can be particularly costly or dangerous. But if you’re not in a position to fix things up and are getting hit with violation after violation, or if you’re trying to sell a home with code violations and finding that buyers don’t want it, then you’re a tough spot. You need to stop the bleeding: you need to sell your property fast.
You’re no longer able to afford your home
Besides building code violations, there are all sorts of issues that could disrupt your finances in a way that makes your home an albatross: you could lose your job and no longer be able to afford the mortgage, for instance. Or you could face other mounting debts that require you to liquidate your house for cash as soon as possible.
In situations like this, you’ll need to sell quickly. The longer that you go without paying down debts, the more the interest will mount, threatening you with an eternity in the cycle of debt. And while a mortgage can be a healthy form of debt, any debt can be toxic if it’s beyond your ability to pay.
Your home is no longer safe
From building codes to mounting crime rates, there are a lot of things that can make your home unsafe or unsavory for you and your family. Sometimes, you just need to cut your losses and get out of there. But selling an unsafe home isn’t easy, and there’s a possibility that your property will be stuck on the market for a long time. That’s costly for you — you’d rather sell it fast.
Clearly, there are a lot of situations in which it makes sense to sell a property fast. But how can you accomplish that?
There are a few ways to move your house quickly. Pricing the home “to sell” — that is, cheaply — is the most obvious. But you should also consider looking for organizations that specialize in buying houses quickly for cash.
Real estate speculators, house flippers, and other individuals and groups are out there waiting to give you cash for your home. When time is of the essence, selling to them could be the best option for your finances.