Selling your house under the best of circumstances can be a tough task but when you add the factor of selling a distressed property, the problems start to multiply. Getting yourself ready for the realities of the market can help you avoid the pitfalls and ugly surprises of selling a house in less than perfect condition, while getting the highest possible profit in the sale. Also try to keep in mind that buyers looking on the MLS are typically looking for a move-in-ready home. This desire can make listing and selling a distressed property on the market an extremely rough experience. It’s somewhat unlikely to have many interested buyers in this situation. Those few buyers who do show interest often expect to get a steep discount, caring little about your being insulted at their meager offers. But, unfortunately, a higher number of days on the market will only serve to lower the value further in the eyes of buyers, and the bills keep rolling in while you hold the property, taking even more from your bottom line. We have put together the top four tips for selling a distressed property in Detroit.
To feel confident the offer you’ve received is fair, owners of a distressed house in Detroit should take steps to determine the current market value. First, you can review the most currently sold homes nearest you that are the most similar to the size and features found in your home, such as a two-car garage or the number of bedrooms. Second, if the property is in the beginning stages of distress, consider hiring a professional appraiser for the most accurate valuation.
To gain an accurate picture of the value of distressed properties in Detroit, owners should invest in hiring a professional inspector. By doing so, you’ll have the numbers in hand to subtract from the current market value of homes that are in move-in condition to give you a realistic number to shoot for as your asking price.
It is essential to understand the buyers that distressed properties in Detroit will attract. While you may have some interest in the house from first time buyers who hope to save money by investing work into the property, you are most likely to encounter investors who improve homes as their full-time business. These buyers purchase properties for cash in nearly any condition, investing time and effort to renovate the property, making their profit on the home’s resale. You have every right to request proof of the financial ability of the buyer to buy your property in the form of financial documents.
Detroit Fair Offer
We’ve saved the best tip for last, Detroit Fair Offer is the right solution for homeowners with distressed properties in Detroit. Detroit Fair Offer has taken years to build a team of the most reputable professionals in the business because we want you to feel good about working with Detroit Fair Offer long after the deal has closed. The direct home buyers at Detroit Fair Offer are your neighbors and are proud of their work to improve life for everyone in Detroit, one property at a time. As for value, they will set out every detail used to calculate the numbers because we want you to agree that our offer is fair. With the backing of cash, they can close in as quickly as 7 days! Is that a little too soon? Detroit Fair Offer isn’t moving in, so stay as long as you need; we’ll set the guaranteed closing date on the calendar day that suits you best!
Selling a distressed property is easy! Contact Detroit Fair Offer at (313)647-8806 now!