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

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

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

Get a cash 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 cash buyers in the U.S. Using the information you provide about your home along with local neighborhood data, we’ll get you a no-obligation cash offer that will allow you to close in as little as 10 days.

This platform will also save time because you’ll be able to skip repairs (our buyers buy as-is homes), and you won’t have to prepare for showings and open houses. This process takes away 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 company has 4.6 stars on Google based on more than 500 user reviews.

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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 agent with the Eddie Blanco Team, which sells homes 53% quicker than the average brokerage in the market. But cash buyers can also 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 buyer 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 certain type of home that cash buyers look for, but rather it depends on their individual goals. Big corporations, for instance, will often look 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 cash because they sold a property and are downsizing,” Lucas says.

Other cash buyers in Miami

Another option for selling to a cash buyer 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 following 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 average review score of 4.33/5 stars with an A+ rating.
• South Florida Cash Home Buyers says they help homeowners get rid of poorly maintained, unwanted, vacant, or inherited houses. Sellers must schedule an appointment to find out if their property qualifies. After that, a no-obligation cash offer is provided and closing can happen in as little as seven days. There is currently no BBB listing showing for South Florida Cash Home Buyers.
• The Friendly Home Buyer focuses on speed and promises cash sale closings in as little as three days. Owned by Jared Sandel, who lists real estate industry experience dating back to 2011, the company promises an immediate cash offer after filling out very basic info online. The Friendly Home Buyer is accredited by the BBB and holds an A+ rating.
• Fair Offer Florida bills itself as passionate about helping homeowners facing foreclosure. They say they’ll buy houses as-is, but also mention some home-buying criteria must be met. They promise no fees or commissions and a closing date selected by the seller in as little as seven days. The BBB gives Fair Offer Florida an A rating but the company is not listed as accredited.
• All About Real Estate is family-owned and operated and has completed over 1,500 transactions to date. The company can close on homes in as little as seven days but is also happy to accommodate longer closings. All About Real Estate is BBB accredited and holds an A+ rating.
• Liberty House Buying Group says it does not charge any fees or include hidden costs as part of its cash offer service. They say they’ll buy any property in every condition or situation, including property with code violations. Sellers can also leave behind anything they don’t want. Liberty House Buying Group is BBB accredited and holds an A+ rating.

Pros and cons of selling for cash in Miami

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

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

Pros

• Selling your home for cash 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 complete repairs, stage the home, or prepare for open houses or showings.
• You won’t have to deal with negotiations or buyer demands.
• You can receive a no-obligation cash offer quickly and compare it to other offers, allowing you to make the best decision.
• The sale won’t be contingent on the buyer ordering an inspection, waiting for their home to sell, or securing financing.
• It simplifies the process, which can be helpful in many cases but especially if you’re selling a home you inherited or as a result of divorce or a death.
• Cash buyers aren’t affected 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 cost of repairs may be subtracted from the selling price, so while you won’t have to complete 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 agent to sell your home fast in Miami

If you want to achieve a faster-than-average sale but have more time to devote to the process, working with a top Miami agent can help you sell your home fast. HomeLight data shows that the top 5% of real estate agents across the country sell homes for as much as 10% more than average real estate agents. And they can sell it faster, too, reducing the days on market and allowing 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 estate 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, beautiful weather, access to beaches and boardwalks, and a thriving arts and culture scene.

Cultural growth: In an article for South Florida Agent, Teresa King Kinney, CEO of the Miami Association of Realtors, says Miami is “the top financial center 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 best 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 estate agents 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 even Texas — “just because 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 high 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 means that demand for housing will likely continue to increase, giving sellers better opportunities to sell their home quickly and for more money.

Less interest rate impact: Higher interest rates slowed new home purchases at the end of 2022, but Lucas has seen buyer 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 digest [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 more 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 agent can help position your home to sell as quickly as possible. Below is a market overview table (as of this posting date) showing sales data for the communities in the Tri-County Area — collectively known as South Florida. However, specific neighborhood data will still vary.

Keep in mind, the DOMs listed below do not include the average 43 additional days a buyer needs to close on a purchase loan.

Single-Family Homes

*Median values shown

Condo, Coop, Villa, Townhouse

*Median values shown

9 strategies to sell your home fast in Miami

Selling a home fast depends on a number of different 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 agents like Lucas know how to price a home so that it will attract multiple offers, how to list and market a home, and how to negotiate to get you the best price. An agent will conduct a comparative market analysis (CMA) to help you set the best 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 experience and familiarity with local comps and other data.

Miller agrees, and describes Miami as “broken up into a bunch of different 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 about 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 give you a ballpark price range. You can get a preliminary estimate in less than two minutes.

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

“South Florida is a vibe; it’s a lifestyle,” emphasizes Lucas. That means that highlighting what’s around the home is almost as important as what’s in the home. If you’re close 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 amenities 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 amenities 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 bench swing.” This is an easy low-cost way to bring character to your house while featuring the charm 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 already have those features, top agents don’t recommend putting them in if you need to sell now. Instead, focus on the things you can do that don’t cost a lot.

4. Declutter, depersonalize, and deep clean

Real estate experts all agree 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 also pay dividends. According to HomeLight’s research, reducing clutter can add over $2,500 to your home’s value at resale.

A thorough deep cleaning of the property is also important. Learn more about how to prepare your house for sale at this link.

5. Make your home feel 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 keep that in mind, Lucas advises.

Because most Miami buyers are newcomers to the area, they don’t know good local painters, electricians, or building contractors — and they aren’t interested in buying 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 advantage of working with an experienced real estate agent is that the agent can walk through your home, point out the items that are likely to concern potential buyers, and coach you on how to prepare your home for showing without spending a lot of money.

6. Pump up your curb appeal

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

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

7. Remove blinds and screens

Miami buyers are looking for homes that offer bright open 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 also 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 cash buyers are looking for properties that have a vacation feel 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 beauty and heritage of the area combined with modern finishes are winners with many Miami buyers.

9. Take advantage of market timing

Along with the recommendations above, it can be helpful to know the level of market activity in your area during different times of the year. HomeLight’s Best Time to Sell Calculator uses housing market data for your area to show you the best and worst months to sell your home. See when is the best time to sell a house if you want to make the most money and which months are best 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 estate agent. They hire a friend or family member and think they can just take some photos, put a property on the market, and buyers are going to call them and say, ‘I’ll take it.’ It doesn’t happen that way.”

Lucas agrees that a top agent 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 about their services, how many properties they’ve sold in the community 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 agent in Miami who you can trust to sell your home as quickly as possible. You can also use HomeLight’s Simple Sale platform to ensure that you sell your home fast.

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