Foreclosure in Arizona>Question Details

Adela Picar, Real Estate Pro in Brisbane, CA

What is a quick sale?

Asked by Adela Picar, Brisbane, CA Mon Jan 28, 2008

Help the community by answering this question:

Answers

9
There isn't a standard definition of a "quick sale" (as compared, for instance, to a "short sale"). But Lawrence and Natan are describing various aspects of what many people consider a "quick sale." For instance, it doesn't have to be, as Lawrence describes it, a sale to avert a foreclosure, but it certainly can be. It can reflect Adela's situation, in which a job transfer requires a quick sale. If I were making up a definition, it'd be something along the lines of: "A quick sale is a transaction in which the seller is motivated to sell the house to a willing buyer in less time than transactions for similar properties in similar locations usually take."

Recognize that, just as a former president said, "It depends on what the definition of 'is' is," the word "quick" depends on both average days on market and the seller's perception of "quick." In the hot market of a few years ago, when properties would sell in 7-14 days (or less), a quick sale might have been a sale in 1-4 days. Now, in some markets, when the average days on market is, let's say, 100, you might define a "quick sale" as 30 days on market...or 40 days...or 20 days.

As all the other comments note, the factor that usually most helps promote a quick sale of a property is pricing the property substantially below the comps. Not "market value," per se--as Adela and Lawrence term it--because "market value" is whatever a willing buyer and willing seller agree to. But that's a minor point/quibble.

Hope that helps.
2 votes Thank Flag Link Thu Jan 31, 2008
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
Contact
In the bellow three answers none of are satisfiable except Mr. Nathan Jacobs is almost up to the point and I add to that, Quick sale is a situation where a seller is forced to to sell his property as quick as possible just before the final proceedings of bank to take over the property. If the bank take over right of the property means the property goes to the foreclosure proceedings and lost all privileges and broken credit status etc.... Usually in this situation, asking price of the property will be much less than the actual market value.
1 vote Thank Flag Link Thu Jan 31, 2008
It means you sold your house fast but gave the buyer a small discount.
0 votes Thank Flag Link Wed Dec 22, 2010
You can visit my site to know what is quick sale.
0 votes Thank Flag Link Tue Sep 7, 2010
Check out this website. This book is pretty great and gives a lot of great ideas.

http://d67e8j42njlm6wep-hreo09n2y.hop.clickbank.net/
0 votes Thank Flag Link Wed Aug 5, 2009
Quick property sales are important but so are businesses I.T. solutions such as PC repairs in Preston and computer maintenance in Preston.
0 votes Thank Flag Link Mon Jun 8, 2009
Hi all! Interesting discussion about 'a Quick sale'

A Quick Sale is a trade that either wants to happen quickly, has happened quickly or is presently happening quickly. In England our property industry terminology is slightly different to the USA so we don't use terms like short sale or rarely use real estate. We consider selling a property fast for whatever reason the 'Quick sale' industry. I have personally been a UK cash buyer in this industry for over 18 years and have always considered a quick sale being one were the seller is motivated to sell their property fast.

Sorry if this is stating the obvious.
0 votes Thank Flag Link Thu Feb 26, 2009
Whoop!!! now the Trulia answering market is hot. This is the sports man spirit.
Thanks to Jay Thompson and Don Tipper. you could break the key.
Now I have also earned some thing out of spending time in Trulia. Other wise why we are wasting our time on reading vague answers. Expecting some more specific answers,
TRULIA, MAKE THE FORUM IN TO AN ACTIVE SESSION OF ASKING AND ANSWERING AS WELL DEBATING. Thus every one can be participated.
I felt many of the answers for superb questions contains only a vague and ill healthy responses.......
0 votes Thank Flag Link Fri Feb 1, 2008
"Quick Sale" is usually something a distressed seller is looking for. Usually, this means they have already discounted the property to hopefully attract a wholesale-type Buyer or Investor. A typical advertisement would look like, " Motivated Seller. Priced for Quick Sale."
0 votes Thank Flag Link Tue Jan 29, 2008
Search Advice
Ask our community a question
Email me when…

Learn more

Home > Arizona > Foreclosure in Arizona > Question
Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer