Need to sell your North Carolina house fast?
If you need to sell your North Carolina house fast because you are moving out of state, keep reading
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Job relocation, family obligations, or simply seeking a more affordable living. These are common reasons for wanting to get out of North Carolina.
No matter the reason, your first step involves determining how you want to sell your house in North Carolina.
As simple as it sounds, the process can quickly become complex. It all depends on your schedule, your potential buyers, your agent you are working with and other market conditions.
To help you with this we created this ‘moving out of state manual’ that walks you through the entire process, plus your different selling options, key issues, and important Tax information that you maybe hadn’t considered…Yet!
You’ll need to determine the logistics for selling your North Carolina house, moving to your new location, and buying or renting your new house.
Homeowners who choose to sell their old house before buying their next home may consider negotiating for a leaseback of their current house in North Carolina.
A home sale contingency is a useful contract term for those who want to protect themselves when buying a new home before selling their old one.
The process of selling your house in North Carolina generally includes three phases: before listing (Coming Soon), getting under contract, and closing.
Homeowners should appreciate the potential income tax consequences of selling their North Carolina house because of realized capital gains.
Determine the Best Way for Selling Your House in North Carolina and Moving Out of State
Different options exist for homeowners when it comes to selling their existing home and moving elsewhere.
Every option will come with its own set of advantages and disadvantages. Factors affecting your situation include:
- your timeline
- reason for moving
- and financing.
You generally have three avenues for selling a home and moving.
Option #1: Sell Your North Carolina House First Then Buy the Next One
A logical option is to sell your house in North Carolina before buying the next house and moving.
Majority of people choose to sell their home before moving into the next one. Because they need the home equity to help finance the down payment, they prefer to sell old house first. Additionally, moving into a new home before selling often means carrying two mortgage payments at the time. This can drain your savings really quick.
While the financial upside of selling your house first is clear, the potential downside is the time. How long it can take to sell a house in North Carolina?
According to statistics, it takes approximately 50 days to close on a traditional home sale.
Also you need to keep in mind events that have to happen before you can get an offer under contract. For example, listing your home, having an open house, reviewing offers, negotiating terms, etc.
Another factor when choosing to sell your house first — is the inability to find your new home before closing. This will mean extra expenses for temporary housing like a hotel or Airbnb, further prolong your house hunting.
Option #2: You Could Buy First Then Sell, If House Financing Is Not an Issue
The flipside of selling then buying is to buy the next home before selling the old one. For most people, this is not an attainable option unless you have the funds to cover the next purchase. Also, you can negotiate a contingency clause in your contract to purchase. Overall, it’s a very expensive avenue to pick since you have to carry two mortgage payments at the same time.
Option #3: A Final Option Is to Rent for a Short Period After Selling the North Carolina Home
A final option is to sell your North Carolina home but wait before buying the next one. For some, it may feel like you’re taking a step back to go from being a homeowner to renting but taking some time before rushing into the next purchase can be beneficial.
If you’re moving to an unfamiliar location for a new job or family reasons, then renting gives you a chance to learn more about the area you will eventually buy into. This way you will be able to make a more informed choice and be able to find a house that you truly love instead of buying sight unseen and going through buyers remorse.
Is Relocation Assistance Available to You?
Renting for a short period can have even greater appeal if you can arrange for your future employer to assist with relocation costs.
Depending on the leverage you may have, you could seek housing costs for a few months to reduce some of the pressure of finding a new home quickly.
Items to consider asking for when negotiating a relocation package include:
- Travel costs for trips to find new housing
- Temporary living expenses (e.g., renting or hotel accommodations)
- Moving expenses
- Other discretionary spending for things like furnishing, food, and other needs
Issues to Consider After You Know How You’ll Sell Your Home
When you’ve figured the plan how to sell, a few additional questions and issues may come up that’re worth considering:
Moving out of your house before putting it on the market presents a mixed bag of benefits and obstacles. It may make sense in your situation if you can work out a couple of logistical issues first.
One advantage of moving out before listing is that you won’t have to work around the schedule of your real estate agent for open houses, prospective buyer showings, or other inconveniences.
Selling an unoccupied home may also increase the frequency of private showings from other real estate professionals who won’t have to worry about scheduling issues with the homeowner.
Additionally, you won’t have to worry about keeping the house in a continuously clean and well-kept state, which is difficult when you’re living there.
However, other concerns about moving out before selling your home are worth mentioning:
- You still will likely have to pay for utilities to stay on even if the status of your house is unoccupied / vacant.
- The house may be at an increased risk of crimes like burglary, theft, vandalism, squatting, etc.
- An inability to stop or limit property damage that could arise during an emergency such as a flood or fire. Make sure that you have a home insurance covering vacant dwelling.
Some studies also show that empty homes may take longer to sell and will ultimately sell for slightly less than an occupied home.
To counteract some of this effect, you may consider working with a staging company to furnish the home and present it in a way to maximize its potential value and garner attention from buyers.
Are you still reading?
Good! We have a great, almost perfect solution for you.
Sell your North Carolina house to a local cash house buyer. We can give you multiple options and will help you to figure out which one is best for your current situation. You don’t need to worry about any repairs, even about cleaning the house. We will buy it in total as-is condition. We can negotiate the closing date and close on your own timeline. You need to stay at your house a little bit longer that you planned? – We are very flexible and understanding. Time is everything! Don’t waste your time and schedule a call with us TODAY! Call / text at 919.-444-8778 or 919-608-6579
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