4 Effective Ways to Sell a House in 2024

Photo by Lili Kovac on Unsplash

There are easy ways and hard ways to sell a house in 2024. Some avenues involve heavy lifting from your end – the seller. Others are quick, easy, and painless. Thankfully, with the help of technology, home sales can happen quicker than ever before. Consider these unique strategies to easily sell your home this year.

 

1. Seller Financing

Seller financing is a useful strategy when selling a property that not many know about. You can find buyers who may not qualify for traditional loans and still do the deal with them. What does a seller financing deal look like? You, the seller, act as the lender.

The buyer can pay you a downpayment to kick the deal off (or sometimes none at all). They pay you in installments with interest over an agreed period. This approach is definitely more creative than the traditional way of selling a house. Your pool of potential buyers. Plus, earning interest over a long chunk of time can sometimes feel better than getting a large chunk when selling your home.

 

2. For Sale by Owner

Selling your house by yourself is much less expensive than using an agent. Sounds great, right? For sale by owner, or FSBO, is also the most involved way to sell. Yes, advancements in technology do make it a little easier. However, even though the paperwork is now all digital, there are still mountains of it. This is a major undertaking that should not be treated lightly.

The entire responsibility of the home sale falls on you to complete. You must handle your property, showings, and negotiations directly with buyers.

We spoke to Alex Capozzolo, co-founder of SD House Guys, who mentioned, “As a professional homebuying company, we get calls constantly from homeowners who want to sell without an agent. This trend got popularized over the past few years with the rise of companies like Opendoor. People now have in their heads that they can save on commission if they DIY the process. While it works in many cases when the buyer is experienced, it can also get very frustrating if both sides have no idea what they’re doing.”

 

3. Rent- to-Own

A rent-to-own agreement makes things easier for sellers in multiple ways. You already know your buyer well, because they are also your tenant. Hopefully, that trust factor is already there – this should make the actual home sale smoother.

This selling strategy allows tenants to rent a property with the option to buy it later. Part of their rent payments goes toward the purchase price. This method attracts tenants who are serious about eventually owning the home. It can also provide steady income while the market stabilizes. Ideally, you make it a win-win scenario when selling your house in 2024.

 

4. 1031 Exchange

A 1031 exchange allows you to sell your house and use the proceeds to buy another property that is similar in value. What is the benefit? Selling property this way enables the owner to defer capital gains taxes. Who loves paying taxes? That’s right, no one. 1031 exchanges are commonly used by experienced real estate investors to level up their portfolios while postponing tax liabilities. Keep in mind, strict IRS guidelines must be followed to qualify.

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Written by Alan Noblitt

Alan Noblitt is the President of Seascape Capital, LLC, and works as both a real estate note buyer and a business note broker. Alan has an MBA from Arizona State University, a B.S. from the University of Wyoming, and is licensed as a California Real Estate Note Buyer.

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