How Long Does it Take to Sell a Home?

One of the first questions for most Birmingham homeowners considering selling their home is, how long will it take? Having a house on the market is stressful and time-consuming and can prevent homeowners from moving or being able to purchase a new home. Plus, even if you’re not under deadlines to move to another city or to close on another home, keeping a house in “show condition” is exhausting and stressful.

The result is time is a key factor to keep in mind when considering selling a home. While a variety of issues can impact how long it takes a home to sell, you can look at national averages and data on past sales to get a baseline for how long it might take.

Selling a Home with an Agent

On average, it takes 65 days, from listing to closing, to sell a home. Obviously, this can vary widely based on location, condition of the home, and price, but one thing that is fairly consistent despite those variables is the time it takes from accepting an offer to close. It usually takes 30 days from offer acceptance to closing. In most cases, a minimum of 30 days is needed to allow for inspections, repairs, additional negotiations after inspection, title work, paperwork, and time for the buyer’s lender to get everything ready for closing.

That said, homes are on the market for an average of 1-2 months before an offer is accepted. It can take longer if the property is priced too high, in an undesirable location, in poor condition, or lacks curb appeal. And, it’s important to keep in mind that once a home has been on the market for a while, the listing becomes stale, further extending the amount of time that it will be on the market.

In contrast, homes can be under contract in less than the average 1-2 months if they’re priced right, properly staged and prepared to sell, and well marketed. While it’s hard to predict how long it will take to sell your home with an agent, you can anticipate 30 days from accepting an offer to close and should plan for at least 30 days from listing until an offer is accepted.

For Sale By Owner Home Sales

Generally, For Sale By Owner (FSBO) listings take longer than homes that are sold with an agent. Homes that are priced, prepped, and marketed will sell faster than homes that are not. Agents are skilled at knowing what to do to improve curb appeal, to properly stage a home, and to price it correctly. Additionally, they know how to market homes effectively, from working with professional photographers to using their large networks to help find a buyer.

As a result, homes generally sell faster when they are listed by an agent. The National Association of Realtors (NAR) found that homes sold through the MLS are, on average, sold 20 days faster than homes that are not. Plus, while some FSBO listings are included in the MLS, the NAR also found that 20% of FSBO MLS listings had to be renewed because they had not sold.

Again, there are a variety of factors that can impact an FSBO sale, but looking at averages, it’s a good idea to anticipate that an FSBO sale will take around 85 days.

Timeframes for Selling a Home to an Investor

A third option for sellers is working with an as-is, cash buyer. This type of sale eliminates a number of issues that slow down a traditional sale. At the outset, it’s important to note that selling to an as-is investor eliminates the time it takes to get your house ready to sell. Sellers should keep in mind that the average 65 days it takes for a home to sell with an agent does not account for the time that it takes to prepare a home for listing. Most homeowners spend a minimum of a couple of weeks making repairs and prepping their home to go on the market.

However, selling with an as-is cash buyer eliminates this time, effort, and money. Instead, you simply contact the investor and share some information about your home. If they’re interested, they’ll schedule an appointment to come and see your home. After that, the investor will give you a cash offer for your home.

Once an offer is accepted, the deal is usually closed within 7 days. Because these buyers are experienced in closing quickly and are all-cash buyers, they’re able to complete all logistics, including working with reputable title companies, to close the deal quickly while also ensuring that all logistics are handled correctly.

The result is that if you decide to sell your home to an as-is cash buyer, you can expect to sell your home in less than 2 weeks. When compared to the time it will take to prep your home for the market, get an offer, and close, selling to an investor can save a lot of time while also eliminating the uncertainty and stress that come from listing a home.

If you’re interested in selling your Birmingham home quickly, contact Home Buyers Birmingham to schedule an appointment and to learn more about how you can sell your home in less than two weeks.