subject: List Your House In Multiple Places For A Fast Sale [print this page] People find themselves in all sorts of different situations when it's time to sell a house. Not that long ago it was the typical practice of most homeowners to list their homes with an agent who placed it on the multiple listing service where the majority of buyers came to shop for a new home. That system is still in place and it is still often very effective. However, there is another system going on simultaneously that has to be considered, and that is online classifieds. So many buyers spend a lot of their free time online and find themselves shopping for a new home that way, too. They may be looking at craigslist.com on a regular basis as well as other local classified ad sites. But sellers have to be proactive and make sure they post ads online as well as list with an agent, unless they decide to consider selling a home for cash instead.
Listing on your local multiple listing service and online ad sites have one thing in common, and that is the tendency to attract buyers who will be applying for conventional financing in order to obtain a mortgage. It is by far the majority of buyers in the marketplace who are knocking on the doors of local lenders and visiting online lenders to get pre-qualified for a loan. So, sellers need to bear in mind that most likely there will be a long wait for mortgage loan approval no matter who eventually makes an offer that is subject to financing. Even pre-approval does not shorten the process to any significant degree now that individual lenders have their "overlays" in place. That is the term used for additional requirements placed on borrowers by a particular lender, over and above federal lending requirements. It's the overlays that can make or break a mortgage loan application, which can make or break your sale. And that explains the increase in sellers turning to professional buyers and selling a home for cash. Not everyone is in a position to take advantage of this opportunity, but if you have owned your home for a long time and find yourself very motivated to sell a home may be a good solution for you.
Considering the vast number of homes on the market and the increasingly complex mortgage lending environment, selling a home for cash is looking more attractive to sellers all over the country. Give it some thought before listing with an agent and posting your home for sale online.
