Selling a distressed property doesn’t need to be so stressful. In this post, learn some tips that will help you sell your distressed New Jersey house!
Like many people, you may believe that selling a distressed property will be a demanding process that consumes most of your time. Sometimes it can be! However, with the help of these 10 expert tips for selling a distressed property, you will be able to sell your house fast and for a fair price. Read below to learn how to sell your distressed house in New Jersey!
Tip #1: Steer Clear of Costly Agents
Selling your distressed property to a professional buyer such as Templar Real Estate Enterprises , will not only save you time but also money. It can be expensive to list your New Jersey house and you will not be able to predict how soon it will sell. By selling your house directly, you will be able to choose the closing. You will additionally avoid the expensive commissions that agents charge.
Tip #2: Dress (Your House) to Impress
You likely want to sell your property quickly, especially if it needs major repairs or is going into foreclosure. Taking the time to make sure your house is visually appealing is essential; this will give buyers a new point of view. Tidy the house as best you can and make reasonable cosmetic touch-ups. Help buyers see the potential of your property by helping them to look past its faults.
Tip #3: Be Honest
Regardless of what is wrong with your property, it is important that you disclose it. You could be opening yourself up to a future lawsuit if you do not warn people about the flaws of your home. Be patient, and be ethical. You will find someone who will want to buy your property!
Tip #4: Find The Right Buyers
Consider the people who are seeking out distressed properties. You should target this group and market to them. Get the word out to investors and other buyers whom you think would be interested in your property. It can be helpful to join some local investment or real estate groups.
Tip #5: Be Patient
There isn’t as large of a market for distressed properties as there is for turnkey homes. It might take a while to find a buyer. This can be frustrating when trying to sell within a specific timeframe. If time is an issue, your best bet will likely be selling it directly.
Tip #6: Have a Plan B
In case you can’t sell the property, you need to be flexible and open to other options. If you are able to, you could rent the property out or find a loan to assist you with repairs. Although what if’s are scary, it’s better to think about them sooner rather than later so that you don’t end up trapped by the foreclosure process.
Tip #7: Be Aware of the Property’s Value
You may go into the selling process believing that your property has a certain worth, but if you factoring in other issues that value may change. Repairs and upgrades can be costly; the actual value of your property today may be far less than you had expected. Be realistic about what your house is worth considering its current condition. A house that needs heavy repairs will not sell for retail prices. Tip #8: Paperwork Done Right
If you choose to sell the house alone, you will have to manage all of the paperwork. You will have to write up the contract and present disclosure documents. To protect yourself from any legal trouble, the process should be as “by the book” as possible. However, if you choose to work with us, we will take care of all the paperwork, taking one more worry off of your shoulders.
Tip #9: Try not to Seem Desperate
People will most definitely attempt to give you low-ball offers. It can be hard, but try your best to stand your ground until you are given a realistic, fair offer. It can be tempting to snatch up the first offer a person makes, and whether or not you take the offer is up to you. At Templar Real Estate Enterprises , whether a property is distressed or not, we always give the best realistic offer.