How to Sell a House -- Fast

It may be due to a career change, a job loss, divorce or health problems, but the day may come when you have to sell your home -- quickly. If it occurs in the kind of real estate market we're facing today, you've got problems.

"If I was in a situation where I had to sell my house next month, I'd know exactly what to do," says Tawny Stanton, a Realtor with the Schwartz-Stanton Group in Lake Tahoe, Calif. "I'd slash the price so that anyone with even a little interest would have to come see it. It would hurt, but you do what you have to do."

Here are some tips to to keep in mind when you absolutely must get that property in someone else's name fast.

The Big Push. The best way to sell in a challenging environment with tons of properties competing for too few buyers comes down to chopping your profits to the bare minimum, if possible. In a more balanced market, a weekend spent painting, planting, fixing up the yard, etc. could make a big difference on a quick sale. But when there are five other homes for sale on your street, your best friend is a skilled, honest Realtor.

"You want someone who can run an accurate market analysis showing comparable sales for the last six months and who can help you price your property accordingly," says Alex Harb, an Orlando, Fla., Realtor. "You want to be the absolute best buy in the neighborhood."

Play for Time. Need to sell in six weeks? Take a tip from retailers and drop your price over time. Start with a 10% or 15% discount from what the comparables indicate your price should be, then take off another 5% to 10% each week until you've hit your maximum.