With our most recent property coming off rent and with all the new properties we are looking at and buying I got to thinking about selling distressed, beat up, “needs some love”, **** boxes, “dated”, tore up properties. Whatever you call them or however you describe them selling a house always comes down to 2 main things. Price and …. CONDITION. A perfect house, in the perfect neighborhood will sell more for something that’s, to put it simply, NOT. With this most recent house we have I have considered fixing it up all nice and shiny and then marketing it like I would a clients home with open houses, neighborhood marketing, and fresh baked cookies but considering timing, the GREAT, DESIRED area that I’m in it’s not necessary and while I could get my contractors out and sell it for top dollar sometimes it’s not the best strategy. For the last 10 years it’s been rented very consistently and we’ve done well. With all the work we have going on in Oklahoma it makes sense for me to take a little less to make sure we can meet the needs of the people counting on us to help them with their situations or the new homebuyers that need to be in their new homes by summer. As an investor I come across a lot of people who need to sell their home. Hoarders looking to make a new start, couples working through tough divorces, a newly graduated doctor who bought and renovated a house cause he’s wanted a challenge and now wants to move on to bigger and better things and “get a real job”, and the list goes one. All these people have had different wants and needs with selling their properties. When thinking of selling your property you have to consider your goals, what’s most important, timing to achieve those goals, do you have the ability to wait, what could you do with the money. Giving up a little to get the money faster to take advantage of a better opportunity or lock in a lower interest rate may be a better long term move. With all that said for those of you thinking of selling I wanted to get some thoughts out for you to think about.
When homes go on the market, they are typically prepped and ready for buyers to come through and inspect with a fine-tooth comb. However, life doesn’t always go to plan, and not all homeowners are in a position to ready their property to the condition that most buyers prefer. For some, financial difficulties led to the inability to continue paying the mortgage. This economic turmoil may carry over into an inability to properly maintain the property and cause further stress due to impending deadlines to sell. When homeowners cannot keep their property inside or out, signs of aging and disrepair eventually show. More minor repairs left unattended are sure to grow into significant problems.
It can be difficult to take your next step in selling your home when you feel overwhelmed with the problems facing you and your distressed property. However, by educating yourself on what steps you can take, you can grab the bull by the horns and take control of the situation, taking the next step towards solving your problems. Read on to discover six things you need to know about selling a distressed property in Houston Area.
Value
One of the most important things you need to know about selling a distressed property in Houston Area is how to determine the value. By reviewing properties near yours that have sold recently, which are nearest to yours in size, features and proximity, you can narrow in on a value. Then, naturally, you’ll need a general idea of the costs of rehabilitating the property to adjust your asking price accordingly. A direct buyer like those at DHS Realty Group will provide you with the numbers showing how much your home would sell for on the market vs. our offer to compare and decide which is best for you.
Repairs
Another thing you need to know about selling a distressed property in Houston Area, if you don’t want to sell at a reduced price, you’ll need to invest in completing any necessary repairs. However, you should be aware that discovering further and more serious issues as you dig into the home while making repairs is always possible. If you’d prefer not to fall into the bottomless financial pit that repairing a house can open, you can leave your concerns about what lies hidden up to the pros by selling your property to direct buyers like those at DHS Realty Group.
Disclosure
Before selling a distressed property in Houston Area, you should fully understand the laws about disclosure. Now is the time to advise your buyer of all information relevant to the property and hold nothing back; otherwise, you may face a legal battle in court.
Timeline
When you list a home for sale, a count begins noting the days on the market, and the effect this tally has on your final sales price is another thing you need to know about selling a distressed property in Houston Area. The bottom line when it comes to days on the market, the longer the listing lingers, the lower the sales price is likely to be. Unfortunately, buyers often scroll right on by these listings because they prefer move-in-ready homes, causing the days on the market to begin to add up. While rare, some buyers may make ridiculously lowball offers, which can highly insult sellers. On the other hand, you could be sleeping well again tonight by selling your home directly to a direct buyer like those at DHS Realty Group who offer a guaranteed closing in just days. If that’s rushing you, at DHS Realty Group, we can set a date for closing at your convenience.
Cash
Often, financing is not an option which is another thing you need to know about selling a distressed property in Houston Area. For this reason, you’ll need to ensure that the buyers you’re working with have the financial backing to carry through with their cash offer. Additionally, for those facing a possible foreclosure, you cannot afford to tie up their property with a buyer only to have the deal fall through and run out of time to complete the sale. When you work with a direct buyer like those at DHS Realty Group, we buy homes for cash, and there are no hefty commissions to pay and no hidden fees coming off the top at closing.
DHS Realty Group
Selling a distressed property doesn’t have to be a stressful experience. With years of experience, the direct buyers know everything you need to make it easy to sell a distressed property in Houston Area. They are happy to answer your questions and address any concerns about the process, with no obligation. The direct buyers at DHS Realty Group live and work right here in Houston Area; we are your neighbors, and we want you to feel good about your deal long after closing, so we make an offer that you will agree is fair. Contact DHS Realty Group today at 602-327-1244 to learn more!
If you can wait and want to get top dollar for your home we can help you list your home as well.