Selling a distressed property doesn’t have to be stressful. Learn more about how to sell your distressed Utah house in our latest post!
You might think that selling a distressed property will be difficult and time-consuming. It’s in some cases! However, you will be able to sell quickly and at a fair price with our top 10 expert tips for selling a distressed property. Keep ready to learn more about selling your distress house in Utah!
Tip #1: Avoid Costly Agents
It will save you time and money by selling your distressed property to a professional buyer like. It can be expensive to list your Utah house and you won’t know when it will actually sell. You will be able to have your closing date immediately by selling it directly and also avoid the costly commissions that an agent will charge you.
Tip #2: Make It Pretty
If your property needs major repairs or if it goes into foreclosure, you’ll probably want to quickly sell it. To make it visually appealing, taking some small steps will help buyers see it in a new way. Clean as much as you can and make any cosmetic fixes that you can. Try to demonstrate the potential of the property to help people see beyond their shortcomings.
Tip #3: Disclose Everything
Whatever the property is wrong, you need to be up front about it. You could set yourself up for a lawsuit down the road by not letting people know about property defects. Take the approach to ethics. For your property, there’s a buyer out there and you’ll find them!
Tip #4: Find The Right Buyers
Think of the people actively searching for distressed properties. Market for investors and other buyers you think your house would be interested in. To really get the word out, it can help you join some local real estate or investment groups in your area.
Tip #5: Be Patient
A distressed property market is not as large as it is for turnkey homes. Finding a buyer may take a while. When trying to sell within a specific time frame, this can be frustrating. If time is a problem, your best bet is likely to directly sell it.
Tip #6: Be Flexible
Having a plan B is important just in case you can’t sell the property. Consider renting it out if you can help with repairs or find a loan. It’s important to think about what if so you don’t get foreshadowed.
Tip #7: Know The Value
You may think that your house is worth a certain amount, but once you have factored in the necessary repairs and upgrades it requires, the actual value of your property today may be much lower than you originally thought. Be realistic about what the condition in which your house is worth. Don’t expect a house that needs repairs to get retail prices.
Tip #8: Paperwork Done Right
You will be responsible for taking care of all the paperwork if you choose to sell the house on your own. You will need to submit documents for disclosure and create the contract. Everything has to be legal and protective of yourself through the book. We handle all the paperwork when you work with us, so you’re going to have one less thing to worry about.
Tip #9: Don’t Appear Desperate To Sell
People will try with low-ball offers to come to you. If you can, stand firm until you can get your house with a realistic offer. Unless this is your only choice, you don’t have to jump to the first person who makes an offer. We always pay fair housing prices at Creation Holdings LLC, distressed or not.