When you have your house for sale, it helps to know a few tips to make the process easier, and obtain the result you are looking for. First we start with weighing all the factors of the current situation you are in, and what determines which option you may want to take when selling your house.

1. Have your house for sale? Evaluate your situation.

There are many reasons you may be selling your house. If any of these apply to your current situation, there are a few factors to consider depending on the reason.

Moving to another house?

If you are moving to another house, it helps to consider the length of time it will take for the house to be sold. If you are considering selling it yourself, or with a realtor, it can take a significant amount of time. A buyer needs to be aware of your property, walk through and like it, then make an offer. The time frame from when you agree to sell to a first time home buyer who uses an FHA loan averages 45 days till settlement. If you have a mortgage on the house you are selling, and have acquired another mortgage for the house you are moving into, how long can you financially pay for both houses till the house sells?

Do you owe more than the house is worth in the current market?

Once you understand the value of your house, if you have a mortgage it may be higher than the amount you can sell the house for. In this situation you may want to pursue a short sale or wait till the market improves to sell your house. It is recommended to consult a real estate professional before choosing to short sale your house. You can learn more about how short sales work at this link:

http://realestate.aol.com/blog/2008/08/01/understanding-short-sales/

Is your house in need of repair?

If your house is needs minor repairs it may make sense to list with a realtor. This way you can attract the larger market of buyers who will purchase the house and make the small repairs. However if your house is in need of extensive repairs, it may make be best to sell to a real estate investor off market. You will avoid real estate commissions, the waiting period till it sells on the market to another cash investor, and you could have settlement in as fast as 30 days or less. There is much smaller market of buyers who can handle extensive rehabilitation projects.

2. Know what the house is worth and price it right

After understanding the situation you are in. It is time to decide whether to list with a realtor or accept a cash offer.

If your house needs minimal or no repairs it usually makes more sense to list with a realtor. They will be able to market your home to retail buyers and get you the best offer.

A realtor should show you comparable sales of your house. This will give you a better picture of what your house is worth on the housing market. If you have three or more comparable sales of your house you should be able to price your house accordingly and receive an offer within a reasonable amount of time.

Pricing your house for sale accurately when first listing it with a realtor is advantageous. You will attract more buyers immediately, which should result to a faster sale. This will reduce the amount of holding costs you will incur when waiting for the property to sell. If you price it too high in the first 60 days you may have to start reducing your price in order to attract more buyers.  Sometimes it is taken as a mark of a motivated seller, and you may not receive as high as an offer if you would have priced it accurately first.

If you value a quick settlement, no walkthroughs, and an offer not contingent upon a banks approval. A cash offer may make sense to you.

3. Take the offer that makes the most sense to you.

Price, closing timeframe, contingencies, and down payment are all factors to consider when choosing the right offer.

The less contingencies an offer has the better, and a faster closing time means more money in your pocket. This is especially true if the house you own is vacant. For instance, if a buyer utilizes the contingency to nullify the contract, and you were under agreement with them for 30 days,  you will have lost that time on market and the costs of owning the house during that time period.

An experienced realtor or investor will be able to explain all your options when you receive an offer from a buyer or from an investor. Weigh all the factors and choose what is best for you.