Over the years, the real estate market in Colombia, South Carolina has changed. Residents sell their houses due to reasons such as downsizing, seeking larger accommodation for a growing family, or a desire for a change of scenery. Some also sell their house due to divorce, it being an inheritance, loss of a job, and other legal matters. 

As a seller, exploring innovative strategies and proven techniques to expedite the selling process while ensuring you obtain your property’s value is vital.

Given that the real estate market in South Carolina is expanding fast, the strategies that may have helped you sell your house fast some years ago may be ineffective this time round. 

However, don’t despair. Here are some simple and effective ways to sell your house fast in Columbia, South Carolina. 

Option 1: Request a Cash Offer for your Columbia, South Carolina home

Selling your home for cash rather than getting paid using financing methods allows you to avoid several expensive and time-consuming steps that delay the process.

In fact, most cash buyers buy properties so they can renovate and resell them for a profit. If you have a property and want to sell it on a cash basis, you won’t have to wait for an appraisal report from an appraiser– a process that takes up to three weeks.

Several factors contribute to the prevalence of cash sales for home buyers, each reflecting unique circumstances and motivations:

• Immediate housing needs

This is a viable option for buyers who have sold their homes and require immediate accommodation. Cash purchase in this case usually necessitates swift house transitions. 

• Competitive advantage in the market

You are also likely to sell your house fast because your property is in a competitive real estate market. Buyers may leverage cash offers to gain a strategic edge over competing offers. 

• Homes requiring repair and renovations

If your home is in a deplorable condition, it will still attract the attention of cash buyers looking for homes in such conditions to repair and sell at a profit.  

The cash home-buying process for the buyer is as follows:

1. Initial contact and inquiry

To sell your house fast, you will need to proactively market it and make available essential details about your property, including its location, size, and current condition. This will capture the attention of potential buyers. Also, you need to advertise your property as “cash only” to attract serious cash buyers who can close quickly.

You can also choose to market your home through a real estate agent.  An agent can market your property to cash buyers and guide you through the negotiation process. 

2. Receiving cash offers

When offers start streaming in, consider the offer amount, closing timeline, and any waived contingencies (like inspections) that might impact the sale price. 

Also, even with cash offers, there’s often room for negotiation about the price. You may need to counter their initial offer with a higher price or negotiate other terms, such as repairs or included furnishings. This means that you need to have a clear understanding of your property’s value and the current market conditions to negotiate effectively.

3. Property inspection

Property assessment determines the fair market value and assesses its overall condition. In this stage, a client together with a property valuer or a representative from the cash-buying company will conduct a comprehensive walkthrough of the property. 

This will help them make informed decisions regarding the purchase offer and any necessary adjustments based on the property’s condition.

4. Acceptance and contract signing

Upon reaching a mutual agreement on the terms of the cash offer, the next critical step in the home cash-buying process is the acceptance and contract signing phase. This pivotal moment formalizes the agreement between you and the buyer and sets the stage for contract completion.

Before signing the contract, you as the seller should thoroughly review its contents to ensure clarity and accuracy regarding the agreed-upon terms. You need to scrutinize every aspect of the contract and look out for any contingencies, disclosures, or special provisions that may impact the sale.

5. Request proof of cash

The last thing you want as a property seller is a cash sale deal that doesn’t go through due to insufficient funds. To prevent this, ask your prospective buyer for proof of cash to verify that the buyer has the necessary funds readily available to complete the purchase. 

6. Title search and escrow

Your client will need to research to verify the legal ownership of the property and identify any existing liens, hindrances, or legal issues that may affect the sale. On the other hand, escrow services play a vital role in facilitating the transaction by acting as a neutral third party that holds funds and documents securely until all conditions of the sale are met. Escrow services also ensure the transfer of the title deed once funds are disbursed. This way, both you and the buyer are protected.

7. Closing 

Closing is when the terms agreed upon in the contract are executed and ownership of the property is transferred from you to the cash buyer.

A closing attorney will be present to help the buyer understand the document and show them where to sign. Once the cash transaction is complete, the homeownership is transferred to the new owner.

When it comes to companies that buy houses to sell, the process is as easy as entering your house details into their website. They then arrange a house viewing and give you an offer. If you accept their offer, they buy your house as is and as quickly as possible. 

So, who buys houses in Colombia, SC?

Here are some home-buying companies you may consider to sell your house fast in Colombia, South Carolina:

• Charleston House Buyers: Located in Charleston, South Carolina, Charleston House Buyers aims to give sellers easy, no-hassle offers.
• En-VisionHomes Columbia Cash Home Buyers: With you choosing the closing date, you can book a free, no obligation consultation at (803) 889-0840 with these buyers.
• Peak Home Buyers Network: Located on 1122 Lady Street, 3rd Floor, Columbia, SC 29201, this network of home buyers purchase houses as-is and pay a fair cash price.
• High Noon Home Buyers: Aiming to give you a cash offer in 10 minutes, High Noon Home is located at 4700 Forest Dr Ste 205, Columbia, SC 29206.
• Simple Home Exits: These buyers promise a fast purchase of your house with no fees, no commissions, no repairs, and no cleaning necessary. They are located at 844 St Andrews Rd Apt B, Columbia, SC 29210.

Pros and Cons of Selling to House-Buying Companies 

Let’s look at the advantages and disadvantages of selling your property to house-buying companies.

Pros: 

• Faster selling: These companies offer fast transactions, allowing you to sell your home quickly. This can be beneficial if you need to sell your home urgently due to relocation, financial difficulties, or to avoid foreclosure.
• Convenience: You can sell your house as-is and avoid costly repairs. Since you don’t have to post your home in a marketplace, you can sell your house faster and you won’t have to deal with endless inquiries.
• Certainty: Home-buying companies guarantee a sale.

Cons

• Lower sale price: Cash buyers usually purchase homes at below-market prices to account for the convenience and speed they offer.
• Limited bargaining power: Cash-buying companies often present sellers with non-negotiable offers, leaving little room for negotiation on the sale price or other terms.

What Type of Homes Work for Cash Buyers? 

Cash buyers prefer:

1. Homes in distressed condition: Cash buyers often target properties that require significant repairs or renovations, as they can purchase these homes at a lower price and add value through improvements. 
2. Abandoned homes: If you have an abandoned home, you will be delighted to know that cash buyers are desperately looking for such homes as they may present opportunities for quick acquisitions and potential redevelopment.  
3. Homes facing foreclosure: Cash buyers know that foreclosures warrant  distressed sales and will gladly buy these houses before they are lost to foreclosure.
4. Inherited properties: Cash home buyers are also interested in inherited properties or those going through probate proceedings as they can expedite the sale process and provide a solution for heirs or executors looking to liquidate the property quickly.
5. Properties with clear titles: If your property has clear titles and minimal encumbrances, cash house buyers will gladly give you an offer as homes with clear titles facilitate smooth and efficient closings.

Does it Only Work for Ugly Properties or Homes that Need Repairs? (Hint: No) 

Contrary to what people might think, cash buyers purchase properties that are in either condition i.e. pristine or deplorable.  

If you are facing urgent circumstances such as relocation, financial distress, or foreclosure, you may find cash buyers to be a practical solution, regardless of the property’s appearance or repair needs.

Furthermore, cash buyers specialize in acquiring specific types of properties, such as rental properties, luxury homes, or commercial real estate and therefore, the condition of the property may not matter compared to other considerations such as location, potential rental income, or investment potential. Cash buyers will pay 70% of the annual percentage rate as a rule.

Option 2: Hire a Top Columbia, South Carolina Real Estate Agent 

You may have tried selling your house for cash, but perhaps it didn’t go as planned due to low buying offers. Instead of accepting those offers, why not enlist the services of a top Colombia, South Carolina real estate agent? It’s a sure way to sell your house fast.

Pros and Cons of Hiring a Columbia, South Carolina Real Estate Agent 

Pros:

• They know the market dynamics to attract potential buyers while maximizing your return on investment.
• They have access to a wide range of marketing tools and platforms to promote your property effectively.
• They possess strong negotiation skills honed through years of experience, allowing them to negotiate the best deals for you.
• They have built extensive networks of industry contacts, including other agents, lenders, inspectors, and contractors who are key to faster selling of properties.
• They have an in-depth understanding of the local market trends, neighborhood dynamics, and pricing strategies.

Cons:

• There are commission fees associated with their services.
• You’ll have less control over certain aspects of the selling process, such as pricing decisions and negotiation tactics. 
• There may be conflicts of interest as an agent may accept a low offer as they are driven by the commission they earn after closing the sale.

How Fast Do Homes Sell in Columbia, South Carolina?

According to data by Listwithclever, the average time it takes to sell a home in 2024 is 52 days to get an offer and 35 days to close a sale – an average of 87 days. However, it is good to appreciate that factors such as marketing, pricing, property condition and time of the year greatly impact how long a property will be in the market.

How to Find a Top Real Estate Agent 

To identify the best agent to entrust your property to you should:

1. Ask friends and family for recommendations.
2. Verify the agent’s credentials and qualifications, including their real estate license and any professional certifications they may hold.
3. Look for agents who have a proven track record of success in buying or selling properties similar to yours.
4. Pay attention to the agent’s communication skills and responsiveness during the initial consultation and choose one who is proactive, attentive, and able to keep you informed throughout the selling process.
5. Study the contract before signing it as some agents may bind you for a longer period. A shorter contract period is ideal so you may change an agent if they don’t close a sale within a certain period.

Expert Tips on Selling Your Home Fast in Columbia, South Carolina 

Here are expert tips to help raise your chances of selling your house fast in Colombia, South Carolina.

Enhance curb appeal and presentation

To get your home off the market fast, remember to enhance curb appeal. Humans are visual beings and will be attracted to something from the first look. You should make a strong first impression by trimming the lawn, planting flowers, repainting the front door, and tidying up the exterior to entice buyers to explore further.

Price your property competitively

How high you set your price will determine whether you will sell your house fast or not. You can know the correct pricing by looking and analyzing comparable properties in your area and setting a competitive listing price based on a thorough analysis of comparable properties in your area. Then, price your home slightly below market value to generate more interest and attract motivated buyers.

Utilize high-quality photography

Presentation matters most and thus there’s a need to use  high-quality photography to showcase your home in its best light. High-quality photos will attract more attention from potential buyers and make your listing stand out in online search results.

Proper marketing

Leverage the power of online marketing to reach a broader audience of potential buyers. It will pay to ensure your listing is featured on popular real estate websites and platforms. Also, how you describe your property will give a potential buyer a reason to give you an offer. Ensure your listing is accompanied by compelling descriptions and captivating photos that highlight your home’s unique selling points.

Work with a top agent

Last but not least, partner with a top real estate agent in Columbia, South Carolina, who has a proven track record of selling homes quickly and effectively. As seen in the above sections, an experienced agent can provide valuable guidance, marketing expertise, and negotiation skills to help you sell your house with confidence.

Showcase your backyard

If your backyard includes amenities such as a pool or fire pit, be sure to highlight these features in your marketing materials and during showings. These amenities can significantly enhance your home’s appeal and attract buyers seeking recreational or entertainment options.

If you don’t have a pool or  fire pit, stage your backyard to showcase its potential uses and functionality. You can do this by arranging outdoor furniture, accessories, and decor to create inviting seating areas, dining spaces, or relaxation zones that demonstrate the versatility of the outdoor living space.

Real Estate Market in Columbia, South Carolina 

Home value in Colombia, South Carolina has risen by 4.5% over the past year with an average home being valued at $219,969. Colombia has major employers such as Michelin, UPS, and Palmetto, as well as 14 Fortune 500 companies. This has made this city one of the most preferred cities for millennials. 

Hurricane insurance in Colombia, South Carolina’s average cost for coverage is $679 per year. This is lower compared to the national cost of $739 per year. If you choose to settle in flood zone areas, you can take flood insurance such as building coverage that covers your place of residence or contents coverage that will cover belongings and items inside your home. 

There was a significant drop in home sales in 2023 as buyers have been reluctant to take mortgages to finance home buying due to the high interest rates. 

On the flip side, the median value of the homes kept rising in places like Cherokee County and Sumter/Clarendon County.

According to data from Realtor, the best month to sell your house fast in Columbia, South Carolina is May (45 days) while the worst month is January (65 days). If you are looking for the best returns in terms of pricing, the best month to sell is June and the worst month is February.

Ready to Sell Your Home Fast in Columbia, South Carolina? 

Whenever you want to sell your house fast in Colombia, South Carolina, two options will ensure guaranteed results – the cash selling option and using a qualified real estate agent.

If you would prefer to handle the whole process alone, you can list your property on online marketplaces with a reasonable price range and wait for offers from potential buyers who are mostly property buyers looking to renovate and sell homes. 

If you wish to use a real estate agent, ensure you look for a qualified, experienced and reputable real estate agent who has your best interests at heart. 

Agents charge 3% to 6% of the final selling price, while in the case of cash buying, the realtor may pay the charges as they mostly quote a lower buying price. On the other hand, the state will charge a property transfer deed recording fee of $1.85 per $500 of your home’s sales price.

FAQs on Selling Houses Fast in Columbia 

1. What fees are involved when selling a house in Columbia, SC?

You can expect to pay property taxes, real estate agent commissions, closing costs, appraisal fees, title insurance, and attorney charges, escrow fees.

2. Is it advisable to use agents to sell a house in Columbia, South Carolina?

Since property agents are knowledgeable regarding real estate demands and property value in Columbia SC, they can help a seller navigate pricing, staging, marketing, and negotiations, thus maximizing the likelihood of a successful sale at the best possible price.

3. Is a cash sale better than using the services of an agent in Columbia, South Carolina?

Cash sales offer the advantages of speed, convenience, and certainty, often with fewer contingencies and a quicker closing process. However, sellers may receive lower offers compared to listing with an agent and may miss out on the expertise, marketing exposure, and negotiation skills that agents provide.

4. How much will I pay as closing costs in SC in 2024?

You will pay approximately 8-10% of your home’s agreement value.