Is that property you inherited just sitting on the market? If your investment property has been more trouble than it’s worth, you may not want to deal with tenants anymore. Now is a good time for the quick house sale you’ve been hoping for. Here’s what you can do with a property that just won’t sell.
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Find Out Why Your Property Won’t Sell
The first thing you should do is find out why your property isn’t selling. If you’ve listed it on the market, you can ask the real estate agents that have been showing it. Agents and their buyers weigh the pros and cons of each house they look at. This means they have recommendations directly from the people that would buy it.
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Some reasons that your house might not sell include:
- Pricing problems. Look at comparable property sales in your area to see how your home stacks up. If your home is priced much higher or much lower than similar properties, buyers might be wary about making an offer.
- Outdated appearance or cosmetic problems. If the paint is peeling or the lawn is brown, buyers will be turned off from your home before they even go inside. These are minor problems that mean you miss out on offers. If your home looks outdated or unappealing, buyers may choose to look elsewhere for their next property.
- In need of repairs. If your home is in need of any major repairs, this can also cause buyers to walk on by. You are obligated to disclose to buyers any major problems with your property. If it is in need of major projects like roofing, foundation, or plumbing repair, you can expect that it will take longer to sell, and it will sell for less money.
What Can You Do To Increase the Odds of Selling?
There are a few ideas to consider when trying to sell your property. You should work with a real estate agent or another expert in the field to determine the best plan of action.
Are you willing to lower the price?
Everyone looks forward to a sale. Lowering the price may make your home more competitive with other comparable properties. This is definitely true if your property needs any major repairs, or if other homes in your neighborhood are not selling in the same range.
Are you able to make any repairs?
A property in need of repairs can be a turn-off to buyers. Not everyone is willing to put in the sweat equity or plan for days or weeks of contractors or repairmen coming in and out of their homes. If you are able to make some repairs yourself, this may help you get more offers. Lots of cosmetic repairs are easy to do, like painting and staging. Major repairs should be left to the professionals. A poorly done that needs expert fixing will cost more than a job done properly in the first place.
Are you able to wait?
Some times of year are better for selling than others. Fewer people want to move around the holidays, and homes are on the market longer in winter because moving in harsh weather conditions can be difficult. The best time to sell is spring and summer. The market in your area can also impact offers and sales. Talk to an agent or investor in your city to learn more about the real estate market closest to you.
Make a Quick House Sell to Property Investors
If you don’t have the time or energy to invest in home repairs or wait for your property to sell, then you should think about meeting with a team of property investors. These are individuals or companies that will make you a fair offer on your home based on its need for repairs and the value of comparable homes in your area. It can be the quickest way out of a property that you are no longer interested in owning. Consider working with an investor to get rid of your house that just won’t sell.