How Long Does Selling a House Take

Introduction

When you plan to sell a house, there are several questions you need to ask yourself, and look out for sources that can provide you with convincing and accurate information.

One of the questions that gets frequently asked when someone plans to sell their house is: “How long does selling a house take?”

When someone plans to sell a house, they make sure that they understand the step-by-step process involved in it. From trying to understand the value of their property to digging for more information on the cost of selling the property and finding out what is the best time to sell a house, homeowners have to do a lot of preliminary research. Sometimes, they do it on their own. Mostly, they hire a broker, who charges a certain commission on the sales price of the property.

All these calculations also depend on the time it takes to sell a house. The longer it takes to sell a house, the higher the possibility that the cost of selling a house may increase as the house may require additional expenses on maintenance.

The time it takes to sell a house can vary depending on several factors like market conditions and seasonal fluctuations in demand and supply, the property’s condition, and the chosen selling method.

On average, the traditional process of selling a house can take approximately 30 to 90 days or more. But it can vary depending on the above-mentioned factors.

However, those in search of quicker options have a solid alternative – selling their house to Elite Properties.

Elite offers streamlined solutions that can significantly cut short the average duration, allowing homeowners to sell their properties in a quick and hassle-free manner.

Factors Affecting How Long It Takes to Sell a House

Several key factors that play an important role in how long it takes to sell a house. Let’s examine these factors one by one:

• Market Conditions and Seasonal Fluctuations in Demand and Supply: The real estate market, like all markets, is dynamic and can fluctuate based on the demand-supply equation, property location, and current prices. For instance, according to the National Association of Realtors (NAR), in 2021, homes listed on the market were sold in just 17 days on average, reflecting a strong seller’s market trend. However, in less favorable conditions, homes listed may take months to find a buyer.
• Property Condition: The condition of a house can significantly affect the duration it takes to sell it. Homes that need extensive repairs or renovations may take longer to sell as buyers are often deterred by potential additional costs and work. Staging the property in a better way can also affect the duration. A report from Zillow indicated that homes that are staged effectively can sell 87% faster compared to those that are not staged efficiently.
• Traditional Selling vs. Selling with Elite Properties: The traditional way of selling often involves multiple steps from hiring a real estate agent to preparing the home for showings and negotiating offers. The entire process can be stressful and time-consuming. We buy houses which eliminates many of these steps, allowing for a faster sale process with less effort required from the homeowner.

Traditional House Selling Timeline

The traditional house-selling process usually comprises several stages. Let’s have a look at the step-by-step process of selling a house:

1. Listing: This stage comprises selecting and finalizing a real estate agent and deciding a competitive listing price after researching other properties for sale in the area. This may take a few days to several weeks.
2. Marketing: Once the property gets listed, it is marketed using multiple channels such as online listings, social media platforms, and open houses. This stage mostly lasts several weeks. However, it can take longer than usual if the property is not attracting enough buyers.
3. Showings: This is the stage when potential buyers visit the home for showings. This may take anywhere from a few days to several months depending on the demand in the market and interest levels of buyers.
4. Negotiations: Once the buyer shows interest in buying the property, the path for negotiations regarding price and terms becomes clear. The negotiation process can take anywhere from a few days to weeks, depending on how quickly both parties are in reaching an agreement.
5. Closing: Once the negotiations are done and an agreement is reached, the focus of home sellers shifts toward settling the closing costs that comprise inspections, appraisals, and final paperwork fees. This can typically take 30-60 days.

This duration can get extended due to issues arising from home inspections (e.g., required repairs), buyer financing problems (e.g., mortgage approvals), or unforeseen legal complications.

How Elite Properties Streamlines the House Selling Process

Elite Properties provides an alternative approach to simplifying and accelerating the home-selling process by offering:

• No-Commission, No-Fee Approach: Contrary to the traditional approach that involves real estate agent commissions (typically around 6% of the sale price) and other fees, Elite Properties helps homeowners retain more of their sale proceeds.
• Process Summary:
  • Appraisal: Elite Properties conducts a thorough appraisal of the property.
  • Offer: Homeowners receive a cash offer based on this appraisal.
  • Legal Paperwork: Elite takes care of all the essential legal documentation procedures.
  • Cash Payment: Homeowners are paid in cash once the deal is closed.
• Timeline Highlight: When homeowners consult Elite Properties, the entire process of selling a house can take as little as three days. We buy houses in “As-Is” condition, meaning that no repairs, staging, or showings are needed if you sell it to Elite.

Step-by-Step Guide: How Does Selling a House Work?

The process of selling your house to Elite Properties is super quick and involves five straightforward steps:

1. Initial Consultation: Homeowners usually reach out to Elite Properties for an initial assessment of their properties.
2. Property Evaluation: The property is evaluated “As-Is”. Homeowners are not required to make any repairs before selling their properties to Elite.
3. Cash Offer: Homeowners receive a cash offer that they can review within 24-48 hours after evaluation.
4. Legal and Closing: Elite Properties covers all legal work and closing costs associated with the sale, thus offering homeowners some relief in terms of expenditure.
5. Quick Close: The closing process is extremely quick, thus allowing homeowners to complete the sale in just three days.

Benefits of Selling a House Fast with Elite Properties

Choosing the quickest possible way of selling your house to Elite Properties offers numerous advantages:

• Avoiding Costs and Time: Homeowners save time and money by saving on repairs, inspections, and home staging efforts typically required in traditional sales. According to NAR statistics, sellers spend an average of $15,000 on repairs before selling their homes.
• Eliminating Real Estate Agent Fees: Agent commissions or hidden fees (which can add up to thousands) can eat up a major chunk of the profit earned from the sale of a property. However, by selling their properties to Elite, sellers retain more of their profits as no agent fee is required.
• Fast Access to Cash: Quick sales provide homeowners with immediate cash flow for various needs such as relocation or debt repayment, critical in times of financial urgency.
• Hassle-Free Sale: Elite provides a straightforward way to sell a property without the stress of open houses or multiple showings; homeowners can avoid disruptions to their daily lives.

Conclusion

Ideally, selling your house doesn’t have to be lengthy or stressful. However, the reality is way different from the ideal expectations. There are multiple processes and steps if one chooses the traditional approach.

Given the streamlined approach of Elite Properties, homeowners can save significant time and expenses while achieving their property selling goals quickly and efficiently. For anyone who is considering selling their home, either due to financial needs, relocation plans, or simply wanting to avoid the traditional real estate headaches, Elite Properties is the door you need to knock in order to ensure a hassle-free sale.

FAQs

1. How long does selling a house take?
   Selling a house to Elite Properties can take as little as three days from initial consultation to closing.
2. What steps are involved in the process of selling a house?
   The process of selling a house to Elite involves several steps including initial consultation, property evaluation “As-Is,” receiving a cash offer within 24-48 hours, handling legal work, and closing within three days.
3. How does selling a house traditionally compare to selling with Elite Properties?
   Traditional sales often involve multiple steps including listing with an agent, marketing efforts, showings, negotiations, and lengthy closing processes that can take several months. On the contrary, Elite Properties provides a streamlined and expedited approach to selling a house.
4. What costs do I avoid by selling my house to Elite Properties?
   Costs like real estate agent fees (typically around 6%), repair costs (averaging $15,000), inspection fees, and other closing costs typically associated with traditional home sales can be avoided completely if you sell your house to Elite Properties.