10 Ways to Sell Your House During a Recession

We buy houses for cash during an economic recession can a bit overwhelming at best. The need to dispose of the monthly mortgage on your existing home is usually compounded by your next move or the move you have already taken.

During a recession, yes, let’s call it what it is, you must first realize you are not alone. The only thing that you are alone with is your existing personal debt. That being said, you want to sell your house and like yesterday, right?

When selling your home during any economic conditions you need to assess your local real estate market conditions. While the country as a whole may be facing a negative real estate market condition, your local are could be maintaining a more encouraging market. If there is a growth underway in your area commercially, this could improve your residential market results.

Let’s talk about the worse case scenarios. Your local area has seen no significant commercial growth or worse, there have been industrial businesses close and layoff a sizeable workforce. This is the bleakest of times and you are affected.

Keep in mind, there are options available to you and your family’s blight. One consideration in selling your home is to avoid listing your house for sale through a real estate company or agent. This in itself, will allow you to price your home below the local market value. Selling without an agent can be a bit scary, as far as knowing what to do and how to conduct a sale of real estate. Fear not, you can find generic real estate contracts online for your given state.

Selling your house by owner has both positive and negative consequences. The positive is; you control the entire process of selling, and the negative is; you have to do all the work involved in getting your house sold.

Here are 10 sure fired ways to sell your house during a recession:

1. Acquire the documents that are required to legally sell your house, such as a legal sales contract for your state, a certificate for inspection of your septic tank, if you are not on a city sewer system, and a home inspection to assure your buyers that your home has been inspected for any defects.

2. Check in your area for similar size and amenity houses that are for sale or have recently sold, to assure you that you will price your house accurately.

3. Decide on a sales price, less than comparable houses for sale in your immediate area. You could ask a real estate agent to price your home at current market value. Offer the agent a 3% commission or a flat sales fee if he/she can produce a buyer. DO NOT sign any written agreement with an agent or real estate company.

4. Determine where houses are advertised for sale on a consistent basis, your local newspaper, traders post, or local cable channel. Some weekly newspapers have a specific day of the week when agents run more ads, choose that day to run your ads.


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