How to Sell Your House Fast in Oregon

Portland Oregon Downtown cityscape in autumn

David Gn Photography/Getty Images

The Oregon real estate market is hot, with strong demand for homes and buyers competing for limited inventory. Home prices are well above the national average and rising steadily, with the current statewide average price at $513,100, up 3.6 percent from last year, according to April data from Redfin.

Even under such favorable market conditions, it typically takes a month for a home to go under contract. But the good news is that there are ways to speed up the process. Here’s a primer on how to sell your Oregon home fast.

As of April 2024, the average number of days an Oregon home spent on the market was 28, per Redfin. That’s two days longer than the previous year, and it means it could take a month for your home to even go under contract. (Then you’ll have to wait even longer for your buyer’s financing to be approved.)

Do you want to sell faster?

If you list during the best time in Oregon to sell a house, which is usually between May and July, things will likely move a bit faster. But if you need to speed things up significantly (for example, if you’re moving as quickly as possible for a new job or you need the money urgently), you have several options to consider.

  • Cash sales: One of the fastest ways to sell a home is to work with one of the many companies that buy homes for cash in Oregon. Cash sales mean you don’t have to wait for financing, and these types of companies specialize in speed. Often you can have a cash offer within 24 hours and close within a few weeks or even days. But there’s a caveat: You’re not likely to get as much money for your house as you would if you sold it the traditional way.
  • Use an iBuyer: iBuyers is working on a similar model and is known for making instant offers on homes. However, they also don’t pay top dollar, and they can charge high fees for doing so. One of the largest iBuyers, Opendoor, buys homes in the Portland area.
  • Price aggressively: Pricing your home to sell is another tactic to consider. This involves studying the market and marketing your home to undercut prices in the area – something that should be done under the guidance of a real estate agent who knows your local market very well.
  • Sell ​​as is: When you list your home as is, you’re telling buyers, “What you see is what you get.” As-is offers mean you’re not willing to negotiate back and forth on repairs with potential buyers, saving time.

If you decide to sell the traditional way, with the help of a local real estate agent, here are some factors to consider and discuss before putting the house up for sale.

How should you price your listing?

Determining the right price is one of the biggest challenges for home sellers. If you set the bar too high, you could turn off potential buyers. And if you aim too low, you could be leaving money on the table. Pricing your home competitively usually involves pulling and analyzing offers from your agent, or similar homes in the area that have recently sold. This will help you figure out how much your home is worth by giving you an idea of ​​what local buyers paid for other properties similar to yours.

What Should You Fix Before Selling Your House in Oregon?

Put yourself in the buyer’s shoes to figure out what you need to fix before putting your home on the market. Obvious problems such as a leaking shower, cracked kitchen tiles or carpeting torn by your dog should be addressed before ruling out potential buyers. But you don’t have to go crazy: ask your agent what’s worth doing and what’s not.

Is it worth upgrading your home before selling it?

Probably not. Major upgrades, such as a complete kitchen renovation, rarely recoup their costs. Additionally, supply chain issues and labor challenges can slow your sales. Look for faster (and cheaper) ways to increase your home’s value, such as adding an energy-efficient thermostat or repainting the front door.

Do you have to pay to stage your home?

First impressions are everything, and staging your home is one way to ensure that your home impresses everyone who sees it. From virtual home staging that allows the home to appear in online photos to in-person home staging with furniture rentals and more, the cost of home staging can vary greatly, so check with your agent to see if your home could benefit from this service.

What should you disclose to a buyer?

As a home seller in Oregon, you must complete the state’s disclosure form, a lengthy document that details any defects that could affect the home’s value. The buyer has five business days to withdraw their offer after reading this disclosure statement. Additionally, if your property is part of a homeowners association, be prepared to provide documents detailing the association’s finances, bylaws and more.

Selling a house isn’t free, in Oregon or anywhere else. Home sellers must be prepared to spend a portion of their proceeds to cover a range of closing costs and other expenses.

Costs to Sell a Home in Oregon

  • Broker commissions: One of the largest costs associated with selling a home is the money owed to the real estate agent(s) involved in the transaction. An agent typically receives between 2.5 and 3 percent of the home’s sales price — for a home in Oregon with a median price of $513,100, 2.5 percent equates to more than $12,800. Depending on the deal you close, you may also have to pay your buyer’s agent fees.
  • Insurance title: These costs are your responsibility as a seller and the costs depend on the purchase price of your home. For example, a standard Oregon title policy for a $400,000 home is $1,150, while the price rises to $1,500 for a $600,000 property.
  • Transfer taxes: While sellers in many states must pay real estate transfer taxes to transfer ownership to the buyer, most Oregon counties do not charge this common tax. One exception is Washington County (home of Beaverton, where Nike is headquartered): it is standard practice for sellers here to split these costs with the buyer.
  • Deposit costs: You will likely have to pay a fee for the escrow account that holds the funds for the transaction; These costs may be shared with the buyer.
  • Attorney fees: Home sellers in Oregon are not required to hire an attorney. But it’s wise to still consider adding one to your team to oversee the legal details and make sure the paperwork is in order.
  • Capital gains tax: Because property values ​​have skyrocketed in many parts of Oregon, there may be tax consequences resulting from selling your home. Whether you will be subject to capital gains tax depends on several factors, including how much profit you make on the sale.

Next steps

Ready to get started selling your home in Oregon? Your next step will depend on what is more important to you: speed or price. If you need to sell quickly and are willing to sacrifice a little profit to make that happen, contact an iBuyer or home buying company near you. They will be able to close a deal the fastest. If time isn’t a pressing factor and you’d rather get the best possible price, look for local real estate agents who can help you get top dollar for your Oregon home.

  • Yes. Oregon is currently experiencing a seller’s market, with high prices and insufficient inventory to meet demand. April 2024 data from Redfin shows the state only has a two-month supply of available homes for sale. Normally, a five or six month supply is needed for a balanced market that favors neither buyers nor sellers.

  • No, Oregon law does not require sellers to hire an attorney for the transaction. However, hiring legal expertise is usually a good decision. Selling a house is complex, with lengthy contracts, legal disclosures and a lot of money at stake. A real estate lawyer can ensure that your interests are protected and that any problems are resolved properly.

  • The seller is usually responsible for paying for title insurance in Oregon. Costs vary based on the price of the home: the more expensive a home is, the more expensive the title policy will be.