Sometimes buying real estate doesn’t always turn out the way we would like to expect. To put it simple, not all properties are a good investment. In fact, some properties can be down-right awful, bank account draining nightmares! If the house you just bought in Detroit turned out to be a lemon, this blog post is for you! At Detroit Fair Offer, we literally get phone calls everyday from folks who recently purchased a property but have buyer’s remorse. Some owners realize they may have underestimated the repair costs before making their purchase. If you are having second thoughts about the house you just bought and are considering selling, keep reading. Let’s dive right into some realistic solutions to the problem at hand.
Hold On For A Long Ride
One option you might consider is toughing it out and holding on to the property for a few years. You could fix it up slowly over time and gradually improve the quality of the house. This option will require lots of patience and could be rather costly as well as time consuming. If you are a handy-man or handy-woman, this might be a good idea but it also depends your willingness to take on the task over the long-run.
Do A Few Touch-Ups Then Sell
Another solution would be to clean-up the property and do some minor touch-ups and cheap fixes and then put the house up for sale. This strategy works very well under certain circumstances because another investor can step in and finish out the project however they desire. Overall this is a great way to get rid of the property you just bought if you decide that you might be in over your head. If you do choose this option, please be ethical and disclose any known issues the property may have.
Sell The Property To A Home Buying Company
This is probably the fastest and easiest way to get rid of a problem property in Detroit MI. Selling your house “as-is” to a local, professional home buyer is by far the most simplistic way to solve the issue. If this is something you choose, you won’t need to repair anything or worry about paying any fees or commissions. The majority of local home buyers in Detroit are buying houses for cash, so that tends to speed things up a bit which allows for a quick closing. Keep in mind, cash is king when you are looking to sell a house fast because there is no loan approval process involved.
Contact us if the house you just bought is a lemon and you are ready to sell and get out of it! 313-647-8806