Which types of houses sell quickly?
Selling a single-family house
The beautiful thing about real estate is that it works regardless of the type of property. Are you the owner of a single-family house? Then you are in luck. Those can be some of the easier properties to sell. Especially in an area where most of the houses are similar in size, style, and age. These houses sell quicker because they are easier to analyze. Home buyers know what they are getting into before they even step foot in the house.
For example, if all the houses on a block are 3 stories tall, between 1000-1200 square feet, and all built the same year, there is a good chance they will be worth similar amounts. Of course, value also depends on the condition. But for this example, let’s say that they are all in similar condition. There are fewer variables that could positively or negatively affect the value of the house. This means that home buyers can offer to buy your house for cash without having to spend as much time thinking about it.
Multi-unit Buildings
If you are looking for a quick house sale, but your property is more than 3 units, it may not be as easy to sell. When it comes to properties that are more unique, or simply larger in size, they usually take more effort to sell. Now, that’s not to say you can’t find the perfect buyer on day one that will give you a cash offer for your house. It can happen. However, it’s less likely the bigger the property is.
For example, if you are trying to sell a property that has 50 units inside, you have a limited pool of buyers that would be interested. Think about it. There are fewer people in the world that have the means to buy a 50-unit building versus a single-family house. Naturally, when working with fewer buyers, it can take longer to get the cash offer that you are looking for. It will take more effort from your end, as well as any real estate professional helping you out.
Vacant Land
Selling vacant land can go both ways in terms of speed. Land buyers usually pay in cash more often than traditional home buyers. Banks also provide fewer financing options for land versus houses and buildings. If you own a small vacant lot within a city, it can be extremely easy to sell quick.
You don’t have to take many photos of a small piece of land. There are no open houses like there would be when selling a house. Additionally, you do not have to stage a piece of vacant land. You can simply take a photo, add a quick description, and begin marketing it online. Cash home buyers are usually also interested in buying vacant land. There are opportunities to develop on it and build houses. That is a common, yet complicated, strategy for some real estate investors.
Do you own a huge piece of land that has hills, trees, and gullies? Maybe it is a large farm with dozens of acres to it. Either way, it can take longer to find the right buyer for a property like that. Achieving a quick sale for large pieces of land is not easy. There are limited people looking for pieces of property like that. You may have to be flexible with your price to get a quick sale. If not, the process can take longer than a usual property sale.
