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Selling a home without making repairs is far more convenient, but you’re unlikely to earn as much as you would if you spent time fixing it up. If you’re struggling financially or don’t have time to make major repairs on the home, there are some quicker, low-cost fixes that can be well worth your investment.

If your distressed property has major damages that are costly to repair, you’re unlikely to get much for it. Depending on your situation, you may not have the luxury of time or be financially able to make major repairs. Luckily, there are a few ways you can add value to your home if you want to sell it without making major repairs.

Fixing some minor damages may allow you to ask for a bit more when you list the property. Survey your home and make a list of defective or broken things. If needed, consider making the following fixes:

• Fill in cracks and patch holes in ceilings and walls
• Repair broken appliances and leaky faucets
• Add a fresh coat of paint inside and outside of the home
• Replace old window coverings
• Stage your home for showings

Depending on your home’s condition, there are several other small fixes you can make. Once you complete your home survey, think about which issues are worth fixing.

Homeowners will struggle to sell a poorly maintained property, especially if it’s in pre-foreclosure or mired in legal troubles. Consider performing some quicker, low-cost maintenance to make your distressed home a bit more presentable.

If you are unable to perform any maintenance on your home, be aware that selling your home to an investor may be one of your best options, especially if you’re facing any legal issues with the home. If your home is in pre-foreclosure, you may want to avoid spending time making fixes and simply find a buyer.

Consider reaching out to Meli. We specialize in purchasing distressed homes regardless of the legal difficulties involved. You can request a free estimate on your distressed home right on our front page. We’ll reach out to you as soon as possible to learn more about your unique situation and let you know how we can help. We look forward to speaking with you!

Do You Own a Distressed Home?

Owning a distressed home doesn’t mean it’s the end of the world. Most distressed homeowners have options. Take time to learn about your distressed housing situation, consult with a professional if you can, and if you determine that selling to an investor is the right choice, consider reaching out to Meli.

Our team is highly experienced in buying and selling homes, and we work with a partner network of attorneys, realtors, and investors to purchase your home in the shortest time possible. We’re able to buy homes in under 30 days, and can often buy in far less time as needed, depending on the situation. Give us a call at (407) 305-5008 or request an estimate on your home’s value below.

Want to learn more about selling distressed? Get our eBook, “Everything You Need to Know When Selling a Distressed or Difficult-to-Sell Home.”

This article is meant for informational purposes only and is not intended to be construed as financial, tax, legal, real estate, insurance, or investment advice. Meli encourages you to reach out to an advisor regarding your own situation. Please consult with your advisor when making legal or financial decisions.

 

If it’s your first time selling a distressed property, you’re likely to make a mistake or two during the process. Selling a distressed house is far different from conducting a traditional home sale.

These are some common mistakes every distressed home seller should avoid:

Pride Over Practicality

When you own a distressed property, it’s understandable to want to sell it for as much as possible. You need to pay your mortgage loan, taxes, or code violations and therefore you want to sell your property for as much as you can get. The most common mistake homeowners make when selling distressed is asking too much. Don’t set an unrealistic price for your home to try to get as much as you can. Homeowners who do this usually just prolong the sale process and will have to lower their asking price anyways.

Not Considering a Short Sale

The misconception around selling distressed property is astonishing. You typically have a few options and ultimately need to choose one. Some homeowners find foreclosure to be the better option. Be aware this option will damage your credit history significantly. Consider opting for a short sale or a cash sale and avoid foreclosure or excessive fines, as it will allow you to resume borrowing quicker than a foreclosure typically would.

Consult with a legal professional before deciding what option is best for you. There are different ramifications to each option, and you will want to make an informed decision.

Delaying the Sale

Defaulting on a mortgage generally leads to bank foreclosure, especially when you put off selling. Procrastination always leads to trouble, resulting in fewer options to avoid foreclosure. Selling your property quickly saves you from facing foreclosure.

Listing your home fast gives you more time to find a buyer offering a reasonable price, which is far better than a complete loss on your investment. Selling to an investor is typically a very fast process, and some investors can close on your house within a week, depending on the situation. Consider reaching out to an investor like Meli if you need to sell your home quickly to avoid foreclosure.

Selling By Owner

Selling distressed property is complicated, and we recommend hiring a real estate expert. This is especially true if you don’t know much about real estate. Real estate agents can provide valuable options in line with your specific situation. You can seek out a mortgage professional, lawyer, or a realtor who is experienced and skilled in short sale legal issues, like code violations or liens.

Making an Agreement with an Unqualified Buyer

When you can’t find a home buyer, you may opt to sell your property to an investor or house-flipper. These buyers usually purchase properties for less than market value. It’s important to ensure the property buyer is able to and will pay you in full for your property. Meli works with their own funds and a network of investors, so we’re always able to pay you in full if we get a home under contract.

Do You Own a Distressed Home?

Owning a distressed home doesn’t mean it’s the end of the world. Sellers are often stressed when attempting to sell a distressed home. That is why Meli provided some of the most common mistakes every distressed home seller should avoid. Most distressed homeowners have options. Take time to learn about your distressed housing situation, consult with a professional if you can, and if you determine that selling to an investor is the right choice, consider reaching out to Meli.

Our team is highly experienced in buying and selling homes, and we work with a partner network of attorneys, realtors, and investors to purchase your home in the shortest time possible. We’re able to buy homes in under 30 days, and can often buy in far less time as needed, depending on the situation. Give us a call at (407) 305-5008 or request an estimate on your home’s value below.

Want to learn more about selling distressed? Get our eBook, “Everything You Need to Know When Selling a Distressed or Difficult-to-Sell Home.”

This article is meant for informational purposes only and is not intended to be construed as financial, tax, legal, real estate, insurance, or investment advice. Meli encourages you to reach out to an advisor regarding your own situation. Please consult with your advisor when making legal or financial decisions.

Generally, a distressed property will stay on the market longer than a traditional real estate listing. Maybe you’ve spent thousands of dollars on advertising, made several price reductions, but you still can’t find a potential homebuyer. Figuring out how to sell your distressed home is tough. 

Your property will become an expired listing after a certain period. This is the time when you shouldn’t give up and stay adhered to the axiom, “a stitch in time saves nine.” Devising a strategy to sell your home fast now can save you time, money, and stress later. Here are the five most viable options that can help you sell your distressed property as soon as possible.

1. Price it Right

It’s essential you determine how much your property is worth. Distressed homes usually list for lower prices than normal market rates. This doesn’t mean you need to reduce your listing price by thousands of dollars. With smart negotiation tactics, you can make enough of a profit to meet your debt balance.

The strategy is to price your home at a higher value than it’s worth. Let’s say you want to sell your distressed house for $200,000. If you list for that exact amount, the buyer will usually offer you less. Asking a higher price may swing the deal in your favor, as their offer will be closer to the amount you really want. However, this strategy may not work if you are selling in a buyer’s market; when there are more homes available to meet the demand. Conduct thorough research of distressed property prices in your neighborhood and set an appropriate price for your home.

Consider reaching out to a real estate agent if you haven’t already, or a real estate investor if you want or need to sell your home within a tight deadline. Learn more about selling with a realtor or selling to a real estate investor.

2. Make Repairs and Focus on the Best Aspects of Your Home

You might not be able to keep up with home maintenance due to your circumstances. Keep in mind that the typical buyer won’t want to buy a distressed house that requires numerous repairs. Therefore, you should put in the effort to conduct essential repairs to make your home a proper place to live. Create two lists, one comprised of the best features of your property, and one comprised of the worst features. Try to improve the worst features and draw attention to the best ones. This strategy may lead a potential buyer to pay you a higher price for your property.

A buyer will never want to pay your asking price if your property doesn’t have basic amenities. Your home should have a proper drainage system, good flooring, and good, safe electrical wiring. Try to repair all the worst features that can drastically affect your property value. If you’re unable to make repairs, take this into consideration when you decide your asking price.

3. Declutter Your Home

If your home is in extremely poor condition, repairs may take thousands of dollars. While you likely can’t invest a hefty amount in home repairs, you can try another trick to make it more appealing to buyers. Clean and declutter your home, mop, sweep, and vacuum the floor, wipe down kitchen cabinets, and improve your curb appeal. If you’re unable to do a deep-clean yourself, consider hiring a professional to do it for you.

Some homeowners forego cleaning the attic, basement, garage, and other less-frequented places. However, smart buyers will check these places. Deep clean every corner of your house to avoid turning off potential buyers. Ask any friends or family who have experience in home sales to get their advice. They can give you some insight into cleaning your home. A clean home will give potential homebuyers a better impression, even if your property lacks other basic facilities.

4. Consider a Short Sale

If you couldn’t keep up with your mortgage payments due to your tough financial situation, chances are you can’t afford to repair your property. In that case, you can submit a request to your lender to execute a short sale by accepting an amount that’s less than your mortgage balance.

Since negotiation requires skills and expertise, it’s best to hire a real estate agent for that. Discuss all the ramifications with them to make sure you clearly understand the consequences that can occur from a short sale. For instance, you may need to pay IRS taxes on a short sale.

5. Honesty is the Best Policy

When you’re selling your property, be honest with potential buyers. No matter what problems your house has, it’s crucial to disclose damage and other issues your property has. Be upfront about what is wrong.

If your area has commuting issues or sewage problems, ensure that the buyer is aware of any potential nuisances before signing the deal. When you don’t warn homebuyers about your property flaws, you could open yourself up to a lawsuit.

Do You Own a Distressed Home?

Owning a distressed home doesn’t mean it’s the end of the world. Most distressed homeowners have options. Take time to learn about your distressed housing situation, consult with a professional if you can, and if you determine that selling to an investor is the right choice, consider reaching out to Meli.

Our team is highly experienced in buying and selling homes, and we work with a partner network of attorneys, realtors, and investors to purchase your home in the shortest time possible. We’re able to buy homes in under 30 days, and can often buy in far less time as needed, depending on the situation. Give us a call at (407) 305-5008 or request an estimate on your home’s value below.

Want to learn more about selling distressed? Get our eBook, “Everything You Need to Know When Selling a Distressed or Difficult-to-Sell Home.”

This article is meant for informational purposes only and is not intended to be construed as financial, tax, legal, real estate, insurance, or investment advice. Meli encourages you to reach out to an advisor regarding your own situation. Please consult with your advisor when making legal or financial decisions.

 

When most people think of a distressed home, they tend to think of a run-down home with a poorly kept lawn and broken windows. In reality, there are several additional factors that can make a home distressed, most of which are not readily apparent.

To break it down, there’s a few major categories of problems a house can face that can earn it a “distressed” label. Many of these categories overlap, and some may come hand-in-hand.

Damaged Homes

The most commonly known distressed housing situation occurs when a home falls into disrepair. This can be due to a number of reasons, including neglect, damage from an accident, natural disasters, or even vandalism. Homeowners may be unable to fix the damages themselves, which can lead the home to being considered distressed.

Luckily, there are homebuyers who look for homes in need of repair. These buyers are often investors looking to buy a damaged home, “flip” it, and sell it for a profit once it’s move-in ready. There are even traditional homebuyers looking to buy a “fixer-upper” and work on their new project home. While it may be tougher to sell a home that’s fallen into disrepair, it isn’t impossible!

Read More:
The Industry of Distressed Homes in Central Florida
Is it Better to Sell a House As-Is or Fix it Up and Then Sell it?

Homes Facing Financial Difficulties

Unfortunately, many homeowners will face financial troubles at some point or another. Many homeowners experience a major financial change in their lives that can cause them to miss mortgage payments, which can lead to the home entering pre-foreclosure, where the lender will begin the process of repossessing it. This is a stressful time for homeowners, and doesn’t leave much time to consider their options. Homeowners in pre-foreclosure DO have some options at their disposal, such as catching up on missed payments, selling the home in pre-foreclosure in a short sale, or selling to an investor.

Another problem many people face when they inherit a home is probate court. Probate is the legal process that occurs after someone dies. It helps ensure that directions in the will (if there is one) are followed. If there is no will, a judge will often have to step in and the probate court will work to value the estate, pay any taxes and debts, and find the best way to fairly distribute the property to any heirs. Probate isn’t always a “problem,” perse, but it can get tricky if the title is murky, there’s no will, or if the beneficiaries can’t post the probate bond or any fees or debts, the home can get “stuck in probate.” 

Homes Trapped in Legal Issues

Another problem some homeowners face comes from the local and federal government. Some legal issues are tied in with financial issues, such as probate court. Other legal issues include code violations on the home, which usually incur a fine that accrues interest. If you cannot fix the problem that led to the code violation or pay the fee, you’ll have trouble selling your home to most buyers. Investors like Meli will often work with you to purchase your home if you’re looking to sell without bringing the house up to code, so consider an investor when you are weighing your options.

Heavily tied with a homeowner’s financial problems are tax liens and judgment liens. A tax lien is incurred when you fail to pay your property tax bill. The IRS will send you a “Notice and Demand for Payment,” and if you still fail to pay the bill you may receive a tax lien, which is public record and can drastically harm your credit scores.

A judgment lien usually comes from a legal proceeding in which one party takes another party, the defendant, to court in order to obtain a legal, monetary civil judgment against them. If the defendant is found guilty and can’t pay the damages, a judgment will be filed against them. A judgement creditor is able to seize their property or garnish wages to collect on the judgment depending on the state. If the creditor is aiming to seize property, the homeowners can consider selling their home quickly to an investor or through another quick selling process and pay off the judgment with the resulting funds.

Selling a Home in a Divorce Case

Divorce doesn’t always lead a home to become distressed, but in some divorce cases, the parties may either agree or disagree to sell the home, or just want to get rid of it as fast as possible for emotional or financial reasons.

Many couples who own a property together will attempt to sell their home when they separate in order to divide their assets. This can become difficult if one party doesn’t want to sell the home, but they need to find a way to split their assets. Couples in this situation should speak with their legal advisors before coming to a decision, as the legal issues involved with selling a home during a divorce can be difficult to navigate.

Selling an Inherited Home

Not all inherited homes are distressed, but as discussed during the topic of probate, it can get tricky if a home is entrusted to more than one person, if the title is murky, or if the home has any code violations, liens, or other financial or legal burdens. Dealing with these legal issues can be daunting, especially if the new homeowner is processing the grief of losing a loved one.

The homeowner may live in a different state, or even country, than the home, which can make selling even more difficult. Working with an agent may be the best move in this situation, but if it’s compounded with other issues, it may be best to reach out to a legal advisor or work with an investor who can navigate the legal and financial issues they’re facing.

Read More:
Your Options When You Own Part of an Inherited Home or Divorced Home

Selling a Home Before Relocating

If a homeowner needs to relocate quickly, the home may be considered distressed, as the owner is likely very motivated to sell their home before they have to move. Selling a home typically takes a while, depending on your location, the price you’ve listed it at, your agent (if you have one), and so many other factors, your home could be on the market for as little as a day or could take years to find a buyer. If someone is moving, they likely want to sell it in under a month, if not faster.

Selling through traditional real estate never guarantees a fast sale, so if the homeowner needs to sell their distressed home fast, they can also consider selling to an investor. They won’t make as much as they would through a realtor, but they will be able to sell their home before they move.

Do You Own a Distressed Home?

Owning a distressed home doesn’t mean it’s the end of the world. Most distressed homeowners have options. Take time to learn about your distressed housing situation, consult with a professional if you can, and if you determine that selling to an investor is the right choice, consider reaching out to Meli.

Our team is highly experienced in buying and selling homes, and we work with a partner network of attorneys, realtors, and investors to purchase your home in the shortest time possible. We’re able to buy homes in under 30 days, and can often buy in far less time as needed, depending on the situation. Give us a call at (407) 305-5008 or request an estimate on your home’s value below.

Want to learn more about selling distressed? Get our eBook, “Everything You Need to Know When Selling a Distressed or Difficult-to-Sell Home.”

This article is meant for informational purposes only and is not intended to be construed as financial, tax, legal, real estate, insurance, or investment advice. Meli encourages you to reach out to an advisor regarding your own situation. Please consult with your advisor when making legal or financial decisions.

 

Renovating a distressed property can be intimidating, especially when you need to sell it fast. There are two main ways that are the most likely to give you the best possible results. 

Sell with a Real Estate Agent

Working with a professional can make things much easier, especially if your property is in poor condition. A real estate agent works on your behalf to find a buyer and completes the home sale efficiently. These professionals do the marketing and negotiations needed to sell your distressed property. They’ll help you set a realistic price on your home and advise you on necessary repairs. A real estate agent can handle the intricate home sale process easily.

They have access to the multiple listing systems (MLS), which displays your home to a larger pool of potential buyers. A real estate agent can make recommendations for minor updates that can appeal to potential homebuyers. They also show you how to stage a home to present it at its best. 

Sell to a Real Estate Investor

Some real estate investors specifically search for distressed homes and will buy them in any condition. After purchasing a property, they usually will fix the damages and update the home to sell it at a higher price. You can sell your distressed property to a real estate investor who will buy your home ‘as-is.’ Once you have accepted the investor’s offer, you’ll be relieved of responsibility for the property’s condition. 

Selling to an investor keeps you from paying commissions, closing costs, or any other hidden costs. A real estate investor will pay off tax liens, delinquent property payments, and other financial obligations. Moreover, they take care of the paperwork; so you won’t need to hire a real estate attorney.

If you own a distressed home, you may want to consider selling with an agent, or to an investor. Selling a distressed home is far different from selling through traditional real estate channels and comes with its own unique challenges that may warrant the help of an expert.

If you have any additional questions or you’re having trouble selling your distressed home, please get in touch with us using our contact form, or by calling us at (407) 305-5008.

Want to learn more about selling distressed? Get our eBook, “Everything You Need to Know When Selling a Distressed or Difficult-to-Sell Home.”

This article is meant for informational purposes only and is not intended to be construed as financial, tax, legal, real estate, insurance, or investment advice. Meli encourages you to reach out to an advisor regarding your own situation. Please consult with your advisor when making legal or financial decisions.

 

Selling a distressed property comes with several unique challenges that traditional home sales don’t typically face. Major repairs, code violations, missed mortgage payments, and more put homeowners at risk of losing their home entirely.

Selling a distressed home can be a daunting task, but it will be less challenging if you learn more about your situation.

Here are three things you should know before attempting to sell your distressed home:

1. What’s Your Situation?

Be sure you understand your situation before listing your home. 

Most distressed homeowners list their property at a high price without understanding that buyers today are well-informed about the housing market. Buyers can easily evaluate your property to see if they’re paying the best price. Keep this in mind and price your distressed home accordingly if you list it. 

2. Consider Contacting a Distressed Home Buyer

Knowing your options when you’re selling a distressed home is only half the battle. If you’re facing foreclosure, you’re probably in a race against the clock. It may make sense for you to sell your home to an investor who can buy your house, paid in full. Make sure you find a qualified buyer and avoid buyers who’ll pay you in the form of a non-cash investment. When you deal with buyers who need to apply for financing or need to liquidate their assets, the home sale may take too long.

If you don’t have long before you will lose your home, reach out to a distressed home buyer like Meli to see if they’re able to help you out of your situation.

 

3. Know Your Local Real Estate Market

Analyze the local housing market before listing your distressed property. Look at online sources like news sites and the MLS to see trends in your real estate market. You can also consult a professional real estate agent to give you insights into your local real estate market (a consultation with an agent may cost you a fee). This research will help you set a more strategic listing price compared to nearby distressed homes.

If you own a distressed home, you may want to consider selling with an agent, or to an investor. Selling a distressed home is far different from selling through traditional real estate channels and comes with its own unique challenges that may warrant the help of an expert.

If you have any additional questions or you’re having trouble selling your distressed home, please get in touch with us using our contact form, or by calling us at (407) 305-5008.

Want to learn more about selling distressed? Get our eBook, “Everything You Need to Know When Selling a Distressed or Difficult-to-Sell Home.”

This article is meant for informational purposes only and is not intended to be construed as financial, tax, legal, real estate, insurance, or investment advice. Meli encourages you to reach out to an advisor regarding your own situation. Please consult with your advisor when making legal or financial decisions.

 

 

You may want to make more money by selling your property yourself. For this reason, you might want to avoid paying realtor fees and decide to sell your home yourself. Although it can be a good option, it has some drawbacks. These pros and cons can help you make the best decision for you and your home.

Pros of Selling a Home for Sale by Owner (FSBO)

• You don’t have to pay commission to a real estate agent
• You can devote your full attention to your home sale
• You’re your own boss; you have complete control over the sale
• You can sell it to friends or family, letting both parties get a great deal without paying realtor fees

Cons of Selling a Home for Sale by Owner (FSBO)

• You’re not guaranteed as high a price for your property as you could expect when working with an experienced realtor
• Finding buyers that are a good fit for your home is difficult if you don’t know what you’re doing
• Marketing a home is challenging
• You may need to pay additional costs, such as for a home inspection
• It’s an intricate process with lots of financial and legal documents

If your home is distressed, you may want to consider selling with an agent, or to an investor. Selling a distressed home is far different from selling through traditional real estate channels and comes with its own unique challenges that may warrant the help of an expert.

If you have any additional questions or you’re having trouble selling your distressed home, please get in touch with us using our contact form, or by calling us at (407) 305-5008.

This article is meant for informational purposes only and is not intended to be construed as financial, tax, legal, real estate, insurance, or investment advice. Meli encourages you to reach out to an advisor regarding your own situation. Please consult with your advisor when making legal decisions.

 

Selling a distressed property can be intimidating; you want to sell your home fast to avoid a foreclosure. This is especially true when you want to avoid hiring a professional real estate agent. However, there are strategies you can use that can help you sell your home before it is foreclosed on.

Price Your Home Strategically

One of the best ways to sell your distressed property is by pricing it right. Avoid listing your home above its market value if you need to sell it fast. You want to get the best possible price, but you can’t forget you’re working against the clock when you’re selling your home in pre-foreclosure. Even if you do decide to list for your asking price, you will probably have to compromise on your asking price as you get closer to your home’s foreclosure.

Most potential home buyers will hire a well-informed real estate expert to represent them in the home buying process. Their agent can easily find them a better home at a similar price. If you underprice your property below market value, it’s more likely to attract buyers and you’ll be able to sell your property quicker.

Setting an unrealistic price can possibly lead you to losing your home entirely if you can’t find a buyer. It’s important to keep in mind that if your home is foreclosed upon, you won’t receive any compensation and your credit score will likely take a huge hit. It’s likely better for you to sell your home for less than you’d prefer than lose everything to foreclosure.

Plan a Clear Marketing Strategy

Taking time to devise a strategic selling plan with an effective marketing strategy will help you in the long run. Reaching out to a large number of potential buyers on your own is challenging and takes time. You can instead work with a real estate agent who will market your home to a larger pool of potential buyers. Choose a realtor who has strong knowledge of your neighborhood and a robust network of buyers and other agents.

If you want to sell your home on your own, make sure to learn as much as you can about your housing market, analyze the trends, and consider getting assistance from a lawyer. Selling a distressed property on your own is far different from selling a home through a realtor. You can try mailing postcards to neighboring houses to let them know you’re selling to gauge interest.

Give your Yard, Kitchen, and Bathroom a Facelift

No one wants to move into a home that requires a lot of work. With that in mind, it’s better to spruce up your home to draw in potential homebuyers. Plan to revamp your home interior, but remember that the outside of your home is the first thing buyers see. Make a good first impression with potential buyers and renovate your home’s exterior.

Improve your home’s curb appeal by cleaning up clutter, manicuring your lawn, installing lighting, setting up a nice patio through home staging, and adding some fresh, green plants. When it comes to the interior, your kitchen and the bathrooms will draw lots of attention.

You don’t need to spend a lot of money renovating your home when you sell distressed. Even a deep clean can do wonders. If you have leaking faucets, broken shower, or clogged pipes, try to fix them and work on cost-effective cosmetic touches. These improvements do not consume much time and transform the entire aesthetics of your home. If an investor is buying your home, they are likely to overlook these problems as they will not be looking to move into your home, and instead will fix it up to sell to a home buyer.

Selling Your Home in Pre-Foreclosure Isn’t Always Easy

Time is of the essence when your home is in pre-foreclosure. The timing can vary, but finding a buyer who is willing to pay you what you want for your home isn’t always possible. There are ways you can manage to sell your home, either by doing it yourself or working with a realtor, but selling through traditional channels takes time, which isn’t a luxury most homes in the foreclosure process have.

Simply put, if you need to sell your property fast with the least hassle possible, it may be in your best interest to sell to a reputable distressed homebuyer. Meli specializes in buying distressed properties, including homes in foreclosure, even if they have other issues tied to them like excessive damage, murky titles, and more.

If you have any additional questions or you’re having trouble selling your distressed home, please get in touch with us using our contact form, or by calling us at (407) 305-5008.

This article is meant for informational purposes only and is not intended to be construed as financial, tax, legal, real estate, insurance, or investment advice. Meli encourages you to reach out to an advisor regarding your own situation. Please consult with your advisor when making legal decisions.

 

The process of selling a house as-is can be pretty simple. There are various options for your property depending on its current condition. You can list it with a realtor, sell to an iBuyer, or sell to an investor/homebuyer.

If Your Home is Distressed:

Assuming the property is in distressed condition with excessive repairs, listing the property may not make the most sense. The typical homebuyer is looking for a move-in ready home, not an investment property.

If you choose to sell to a realtor when your home isn’t in the best condition, you’ll likely be selling the property to an investor and paying a commission to the realtor. You can find distressed homebuyers like Meli yourself by searching online and looking over reviews.

If Your Home is in Good Condition:

iBuyers like Opendoor and Offerpad can be a fantastic option for a seller if the property is in decent condition and only needs small repairs or has cosmetic issues. If the property has excessive repairs, typically iBuyers will not purchase the property.

When selling to an investor or homebuyer, there are a few things to keep in mind:

• Make sure the buyer is reputable. Check online for reviews to see if the company is credible.
• Ensure the homebuyer is working in your best interest. Sometimes homebuyers will tell you whatever they think you need to hear to buy the property.
• Any agreements made need to be in the contract. Every contract will have an “Additional Items” section. Add anything you see fit in this section. No agreements should be made on a handshake.

If you find a company you feel comfortable working with on your distressed property, this will be the best option in terms of time saved. The reputable company will take care of the situation and give you all your options, with you doing little to no work. This is the value added by a distressed home buyer.

Fixing It Up Yourself

If you have experience in the construction and rehab of residential properties and the time to manage the project, it may be in your best interest to repair the home yourself. You can save money by doing and managing the work yourself before listing it. This will be the best way to get the full value out of the home.

The only downfall of this option is the time that it takes to get the property rehabbed, putting it on the market, and getting it sold. It can take a few months depending on the pace of construction and your dedication to the project.

Simply put, if you are needing to sell your property fast with the least hassle possible, it may be in your best interest to sell to a reputable distressed homebuyer. If you are in no rush to sell the property and have experience in residential construction, you will likely get the most value by fixing the property up yourself and listing it.

If you have any additional questions or you’re having trouble selling your distressed home, please get in touch with us using our contact form, or by calling us at (407) 305-5008.

This article is meant for informational purposes only and is not intended to be construed as financial, tax, legal, real estate, insurance, or investment advice. Meli encourages you to reach out to an advisor regarding your own situation. Please consult with your advisor when making legal decisions.

 

Selling distressed is different than selling through traditional realty channels. Distressed properties often have a few telltale signs. These can help potential homebuyers identify whether a property is distressed or not.

Common traits of distressed homes include:

• Notices posted on the windows and doors.
• The home’s outside appearance is run-down.
• Its appearance differs from neighboring homes.
• The yard is overgrown and unkempt.
• There are few signs of a resident, such as piled up mail and dark windows at night.

Your home may be easier for potential homebuyers to identify if it exhibits any of these signs, but it’s better to reach potential buyers instead of waiting for them to find you.

Here are some ways you can use to market your property:

• Add your home on a Multiple Listing Service (MLS)
• Send ad postcards to realtors
• Ask your friends and family to give referrals
• Get help from a professional, such as a realtor

Selling a distressed property can take a long time. If you’re unable to wait to find a buyer, consider selling your property to a distressed home buyer like Meli. We’re Florida’s trusted distressed home buyer, and will work hard to purchase your distressed home should we both determine we’re a good fit for one another.

If you have any additional questions or you’re having trouble selling your distressed home, please get in touch with us using our contact form, or by calling us at (407) 305-5008.

This article is meant for informational purposes only and is not intended to be construed as financial, tax, legal, real estate, insurance, or investment advice. Meli encourages you to reach out to an advisor regarding your own situation. Please consult with your advisor when making legal decisions.