I Need to Sell My House Fast in Miami: What Are My Options?

Oct 25, 2023

If you need to sell your house fast in Miami, whether you’ve inherited a property, you’re relocating for work, need to mazuma out your home’s probity fast, or are looking to put a divorce overdue you, the two weightier strategies are: 1) seek out a mazuma offer, or 2) work with a top real manor agent.

In this guide, we will review the pros and cons of each tideway to help you decide which makes the most sense for your home sale. We’ll moreover share expert tips to help you sell your house fast, whether you’re selling a single-family home in a quiet polity or a condo with waterfront access.

Get a mazuma offer with HomeLight’s Simple Sale

If you want to sell your house fast in Miami, HomeLight’s Simple Sale all-cash offer platform could be the perfect solution. Simple Sale will connect you with the largest network of mazuma buyers in the U.S. Using the information you provide well-nigh your home withal with local neighborhood data, we’ll get you a no-obligation mazuma offer that will indulge you to tropical in as little as 10 days.

This platform will moreover save time considering you’ll be worldly-wise to skip repairs (our buyers buy as-is homes), and you won’t have to prepare for showings and unshut houses. This process takes yonder the stress and uncertainty that comes with listing your home traditionally and dealing with buyers who come with contingencies and want seller concessions.

HomeLight was founded in 2012 and is BBB accredited with an A rating. The visitor has 4.6 stars on Google based on increasingly than 500 user reviews.

Who else will buy your house for cash?

Cash buyers in Miami are often investors, either domestic or international, says Roger Lucas, a top-performing South Miami wage-earner with the Eddie Blanco Team, which sells homes 53% quicker than the stereotype brokerage in the market. But mazuma buyers can moreover be people migrating from states with higher home prices, individuals purchasing vacation homes, large corporations purchasing homes for their rental portfolios, and iBuyers.

Florida saw the largest share of total foreign proprietrix purchases in the U.S. in 2022 at 24% — 66% of which were all-cash purchases. Nearly three-quarters of foreign buyers purchased a home for vacation and/or rental use, and Miami saw $6.8 billion dollars from foreign buyers.

Lucas adds that there isn’t a unrepealable type of home that mazuma buyers squint for, but rather it depends on their individual goals. Big corporations, for instance, will often squint for distressed homes that are neglected or have owners facing financial distress. Retirees or others migrating from higher-cost-of-living areas may be looking for single-family homes that are move-in ready. “We have retirees that are purchasing with mazuma considering they sold a property and are downsizing,” Lucas says.

Other mazuma buyers in Miami

Another option for selling to a mazuma proprietrix is to work with a Miami “we buy houses for cash” company. Before contacting one of these companies, it’s important to do some research to see their track record and read reviews of past clients.

The pursuit are examples of house-buying companies that operate in Miami:

The Buy Guys offers to buy Miami homes in five easy steps online and via phone, and in as little as five days. They’ll buy houses in any condition, including homes with structural issues and from sellers facing foreclosure. They don’t buy mobile homes, manufactured homes, or vacant land. The Buy Guys is accredited by the Better Business Bureau (BBB) and holds an stereotype review score of 4.33/5 stars with an A rating.
South Florida Mazuma Home Buyers says they help homeowners get rid of poorly maintained, unwanted, vacant, or inherited houses. Sellers must schedule an visit to find out if their property qualifies. Without that, a no-obligation mazuma offer is provided and latter can happen in as little as seven days. There is currently no BBB listing showing for South Florida Mazuma Home Buyers.
The Friendly Home Buyer focuses on speed and promises mazuma sale closings in as little as three days. Owned by Jared Sandel, who lists real manor industry wits dating when to 2011, the visitor promises an firsthand mazuma offer without filling out very vital info online. The Friendly Home Proprietrix is accredited by the BBB and holds an A rating.
Mission Valley Home Buyers promises a fast transparent home sale with no fees and no commissions. They say they’ll plane pay all your selling financing and that sellers need not scarecrow cleaning or making any repairs. They offer a no-obligation mazuma offer within 24 hours of submitting an online form. Mission Valley Home Buyers is accredited by the BBB and holds an stereotype review score of 5/5 stars with an A rating.
Fair Offer Florida bills itself as passionate well-nigh helping homeowners facing foreclosure. They say they’ll buy houses as-is, but moreover mention some home-buying criteria must be met. They promise no fees or commissions and a latter stage selected by the seller in as little as seven days. The BBB gives Fair Offer Florida an A rating but the visitor is not listed as accredited.
All Well-nigh Real Estate is family-owned and operated and has completed over 1,500 transactions to date. The visitor can tropical on homes in as little as seven days but is moreover happy to unbend longer closings. All Well-nigh Real Manor is BBB accredited and holds an A rating.
Liberty House Ownership Group says it does not tuition any fees or include subconscious financing as part of its mazuma offer service. They say they’ll buy any property in every condition or situation, including property with lawmaking violations. Sellers can moreover leave overdue anything they don’t want. Liberty House Ownership Group is BBB accredited and holds an A rating.

Pros and cons of selling for mazuma in Miami

As with most decisions, there are pros and cons to selling your home for cash. Selling your home for mazuma comes with “more certainty” than a traditional process, equal to Lucas. But, he goes on to say, “Most times, a mazuma proprietrix is looking for a unbelieve considering it’s a much neater transaction.” That doesn’t midpoint that you won’t get an winning offer, but “the mazuma proprietrix just has a little bit increasingly leverage than someone who’s financing.”

The visualization really comes lanugo to your individual situation and goals, but this list of pros and cons can help you weigh your options.

Pros

Selling your home for mazuma can make the process go much faster. HomeLight Simple Sale closing, for example, can take as little as 10 days.
You won’t have to well-constructed repairs, stage the home, or prepare for unshut houses or showings.
You won’t have to deal with negotiations or proprietrix demands.
You can receive a no-obligation mazuma offer quickly and compare it to other offers, permitting you to make the weightier decision.
The sale won’t be contingent on the proprietrix ordering an inspection, waiting for their home to sell, or securing financing.
It simplifies the process, which can be helpful in many cases but expressly if you’re selling a home you inherited or as a result of divorce or a death.
Cash buyers aren’t unauthentic by interest rates the way that buyers who finance their purchases are.

Cons

Cash sales will typically result in a lower selling price than traditional sales.
The forfeit of repairs may be subtracted from the selling price, so while you won’t have to well-constructed them, you may be paying for them or for a portion of them.
If you use a “we buy houses for cash” company, it’s important to do your research and read reviews to make sure they’re legitimate.

Working with a top wage-earner to sell your home fast in Miami

If you want to unzip a faster-than-average sale but have increasingly time to devote to the process, working with a top Miami wage-earner can help you sell your home fast. HomeLight data shows that the top 5% of real manor teachers wideness the country sell homes for as much as 10% increasingly than stereotype real manor agents. And they can sell it faster, too, reducing the days on market and permitting you to move on from a divorce, sell a home you inherited, or jump into your next adventure.

Inside the Miami housing market

To fully understand the value and services of a top-performing Miami real manor agent, it’s helpful to know what’s happening in the South Florida housing market.

Population growth: Miami saw significant growth in 2022 (0.8%), which can be attributed to a number of factors, including businesses moving their headquarters to Miami, trappy weather, wangle to beaches and boardwalks, and a thriving arts and culture scene.

Cultural growth: In an vendible for South Florida Agent, Teresa King Kinney, CEO of the Miami Association of Realtors, says Miami is “the top financial part-way in the Southeast, it’s home to a booming downtown, serves as an unparalleled gateway to Latin America, hosts a world-famous arts and cultural scene and sports the weightier business-friendly environment in the U.S.”

Business growth: Many tech and finance companies are moving to and expanding their operations in Miami. Goldman Sachs recently doubled their Miami office space, and in June 2022, Citadel, a large hedge fund, announced it was relocating from Chicago to Miami. Other companies in the retail, dining, crypto, and startup spaces are flocking to Miami and bringing their employees with them.

International appeal: Jeff Miller, who is in the top 1% of real manor teachers in Miami Beach, says he sees lots of buyers who come “from all over: Mexico, and South American countries like Argentina and Venezuela — you see a lot of them investing in the Miami condo market. Then you have a lot of Europeans as well, whether they’re from France, Russia, England, or Turkey.”

Domestic migration: He adds that most domestic buyers in Miami come from the northeast and midwest — areas within New York, Chicago, Atlanta, New Jersey, and plane Texas — “just considering of the geography, the same or similar time zone, and easy flights. They’re all escaping and trying to come to the beach.” This growth includes a upper number of millionaires relocating to the Magic City.

Limited new construction: Despite the influx of new residents, the number of construction permits for both single-family houses and multifamily housing declined in 2022, with single-family permits declining 57% year over year and multifamily housing permits by 28.7%. This ways that demand for housing will likely protract to increase, giving sellers largest opportunities to sell their home quickly and for increasingly money.

Less interest rate impact: Higher interest rates slowed new home purchases at the end of 2022, but Lucas has seen proprietrix demand increase as 2023 continues. “Our current market here in South Florida is still very, very active,” he says. “There was a slowdown in the third and fourth quarter of last year when rates spiked, but we believe that buyers have had time to rewording [current rates].”

How fast are homes selling in Miami using an agent?

Home sales slowed at the end of 2022 as interest rates rose and many buyers held off on purchasing a home. Lucas says now that rate hikes have slowed and buyers are realizing that the current rates aren’t going to lower significantly but rent prices are still increasing, “it makes a lot increasingly sense to purchase versus to rent.”

The days on market (DOM) — number of days between listing and a signed contract — really depends on individual neighborhoods. This is where a local wage-earner can help position your home to sell as quickly as possible. Unelevated is a market overview table (as of this posting date) showing sales data for the communities in the Tri-County Zone — collectively known as South Florida. However, specific neighborhood data will still vary.

Keep in mind, the DOMs listed unelevated do not include the stereotype 43 spare days a proprietrix needs to tropical on a purchase loan.

Single-Family Homes

	DOM	Active Listings	YOY % Change	Median Sale Price	% of List Price	Cash Sales
Miami-Dade County	41 days	3,212	Up 69.2%	$565,000	94.6%	28.7%
Palm Waterfront County	41 days	4,202	Up 143.3%	$582,500	93.1%	49.4%
Broward County	35 days	3,454	Up 110.6%	$540,000	94.8%	26.4%

*Median values shown

Condo, Coop, Villa, Townhouse

	DOM	Active Listings	YOY % Change	Median Sale Price	% of List Price	Cash Sales
Miami-Dade County	30 days	6,355	Up 44.2%	$392,000	95.1%	53.8%
Palm Waterfront County	30 days	3,840	Up 142.9%	$299,000	94.3%	63.5%
Broward County	40 days	4,491	Up 56.3%	$269,900	96.1%	57.8%

*Median values shown

9 strategies to sell your home fast in Miami

Selling a home fast depends on a number of variegated factors that include pricing the home correctly, highlighting the neighborhood, and emphasizing the home’s amenities.

1. Price the home correctly

In any market, pricing your home right is key to generating interest in a property. Experienced Miami teachers like Lucas know how to price a home so that it will vamp multiple offers, how to list and market a home, and how to negotiate to get you the weightier price. An wage-earner will self-mastery a comparative market analysis (CMA) to help you set the weightier price to sell your house fast.

Lucas says they’re seeing properties “if priced correctly, go under contract in under 30 days.” Pricing a home correctly often depends on the agent’s wits and familiarity with local comps and other data.

Miller agrees, and describes Miami as “broken up into a tuft of variegated micro-neighborhoods or submarkets.” With such a diverse housing market, pricing your home correctly is your first top priority. “A good agent, an experienced agent, is going to guide you through the process,” he says.

If you’re curious well-nigh your Miami home’s current value, try HomeLight’s Home Value Estimator. While it shouldn’t dictate your final pricing strategy, an online home value estimate can requite you a ballpark price range. You can get a preliminary estimate in less than two minutes.

2. Highlight the neighborhood and surrounding zone — and sell the lifestyle

“South Florida is a vibe; it’s a lifestyle,” emphasizes Lucas. That ways that highlighting what’s virtually the home is scrutinizingly as important as what’s in the home. If you’re tropical to restaurants, parks, dining, and entertainment, that should be included in the home’s listing to show prospective buyers all that the neighborhood has to offer.

3. Emphasize the home’s suavities and outdoor space

Lucas knows that South Florida residents love their indoor/outdoor spaces and recommends emphasizing the home’s amenities. He estimates that “at least 50% of single-family homes have a pool.”

Miller recommends showing off your home’s suavities as well. For instance, he suggests, “If you live in one of South Florida’s quiet, southern-style neighborhoods, highlight the relaxing areas of your yard or porch by investing in a hammock or seat swing.” This is an easy low-cost way to bring weft to your house while featuring the recreate of your peaceful community.

Highlight other specific Florida features, such as hurricane impact-resistant windows and hurricane-rated doors. However, if your home doesn’t once have those features, top teachers don’t recommend putting them in if you need to sell now. Instead, focus on the things you can do that don’t forfeit a lot.

4. Declutter, depersonalize, and deep clean

Real manor experts all stipulate that a home will sell faster when buyers can envision themselves living in the house. Taking steps to declutter and depersonalize will not only help you sell your property quicker, but it can moreover pay dividends. Equal to HomeLight’s research, reducing scramble can add over $2,500 to your home’s value at resale.

A thorough deep cleaning of the property is moreover important. Learn increasingly well-nigh how to prepare your house for sale at this link.

5. Make your home finger move-in ready

Homebuyers in Miami tend to be relocating from outside the area, whether they are retirees or buyers looking for the Florida lifestyle, and sellers need to alimony that in mind, Lucas advises.

Because most Miami buyers are newcomers to the area, they don’t know good local painters, electricians, or towers contractors — and they aren’t interested in ownership a home where they’d have to find contractors to do repairs right away. Buyers in this market are typically resistant to doing work on a house, making it tougher to sell a home that needs work.

The wholesomeness of working with an experienced real manor wage-earner is that the wage-earner can walk through your home, point out the items that are likely to snooping potential buyers, and mentor you on how to prepare your home for showing without spending a lot of money.

6. Pump up your prorogue appeal

Curb appeal is critical, expressly in Miami, where buyers expect lush, elaborate landscaping. Many buyers will want increasingly than a generic cookie-cutter landscape that looks hastily installed.

In wing to mowing, edging, and trimming your existing landscaping, add some red mulch for a touch of color. You can make the yard squint lush by subtracting potted plants in areas that need to be filled in. Native plants are expressly popular in Southeast Florida.

7. Remove blinds and screens

Miami buyers are looking for homes that offer unexceptionable unshut spaces, so start there. Remove blinds and other window coverings. Patch up and repaint any blemishes they’ve left on the walls, and let the sunshine in. On a similar note, you can moreover remove the screens from your windows, store them in the garage, and wash the windows inside and out.

8. Create a vacation-ready look

Some Florida mazuma buyers are looking for properties that have a vacation finger to their interior design. Whether they’re retirees looking for a waterfront cottage or an investor seeking a Miami Airbnb rental property, they’re looking for homes whose decor gives off a vacation getaway vibe. However, don’t overdo it with seashells or beach-themed decor. Instead, tasteful reminders of the eyeful and heritage of the zone combined with modern finishes are winners with many Miami buyers.

9. Take wholesomeness of market timing

Along with the recommendations above, it can be helpful to know the level of market worriedness in your zone during variegated times of the year. HomeLight’s Best Time to Sell Calculator uses housing market data for your zone to show you the weightier and worst months to sell your home. See when is the weightier time to sell a house if you want to make the most money and which months are weightier to sell your house fast.

Ready to sell your Miami house fast?

According to Miller, “The number one mistake most sellers make is that they don’t do their due diligence when hiring a real manor agent. They rent a friend or family member and think they can just take some photos, put a property on the market, and buyers are going to undeniability them and say, ‘I’ll take it.’ It doesn’t happen that way.”

Lucas agrees that a top wage-earner can make a huge difference and recommends that sellers do their due diligence by asking prospective agents a lot of questions, saying, “There are no bad questions.” Ask well-nigh their services, how many properties they’ve sold in the polity as well as all of South Florida, and at the end of the day, find one that you like and trust your agent.

HomeLight can connect you with a top wage-earner in Miami who you can trust to sell your home as quickly as possible. You can moreover use HomeLight’s Simple Sale platform to ensure that you sell your home fast.