How to Sell a Distressed Home Fast
Renovating a distressed property can be intimidating, especially when you need to sell it fast. There are two main ways that are the most likely to give you the best possible results.
Sell with a Real Estate Agent
Working with a professional can make things much easier, especially if your property is in poor condition. A real estate agent works on your behalf to find a buyer and completes the home sale efficiently. These professionals do the marketing and negotiations needed to sell your distressed property. They’ll help you set a realistic price on your home and advise you on necessary repairs. A real estate agent can handle the intricate home sale process easily.
They have access to the multiple listing systems (MLS), which displays your home to a larger pool of potential buyers. A real estate agent can make recommendations for minor updates that can appeal to potential homebuyers. They also show you how to stage a home to present it at its best.
Sell to a Real Estate Investor
Some real estate investors specifically search for distressed homes and will buy them in any condition. After purchasing a property, they usually will fix the damages and update the home to sell it at a higher price. You can sell your distressed property to a real estate investor who will buy your home ‘as-is.’ Once you have accepted the investor’s offer, you’ll be relieved of responsibility for the property’s condition.
Selling to an investor keeps you from paying commissions, closing costs, or any other hidden costs. A real estate investor will pay off tax liens, delinquent property payments, and other financial obligations. Moreover, they take care of the paperwork; so you won’t need to hire a real estate attorney.
If you own a distressed home, you may want to consider selling with an agent, or to an investor. Selling a distressed home is far different from selling through traditional real estate channels and comes with its own unique challenges that may warrant the help of an expert.
Want to learn more about selling distressed? Get our eBook, “Everything You Need to Know When Selling a Distressed or Difficult-to-Sell Home.”
This article is meant for informational purposes only and is not intended to be construed as financial, tax, legal, real estate, insurance, or investment advice. Simple Sale encourages you to reach out to an advisor regarding your own situation. Please consult with your advisor when making legal or financial decisions.