Selling a home is usually stressful, and that stress only increases when the home is a distressed property. The concern that the property is not going to sell promptly or at fair value only adds to a homeowner’s concerns. Fortunately, there are some things homeowners can do to help sell their distressed properties.
What Is a Distressed Property?
A distressed property is any property where the seller needs to sell the property quickly. In real estate, there are several reasons that a homeowner could need to sell the property. The property could need repairs or have suffered damages from fire or a natural disaster. The homeowner could be experiencing financial problems and need the money from the sale, or to sell the home quickly to avoid foreclosure.
What Are the Risks In Distressed Property Sales?
There are risks to the buyer and the seller in distressed property sales. If the property owners have been in financial distress for some time, the home may be in disrepair, so buyers need to be aware of potential issues. However, the bigger risks are for sellers. The rush to sell a property can result in taking less than a fair value for the home.
Successful Staging Can Increase Sales Prices
A house that looks good is more likely to sell and command a higher sales price than a comparable property that has not been staged. However, many people do not understand what staging a house means. Staging does not require a seller to empty their home and bring in model home furniture. It does, however, require a seller to think of their home as a house, not a home. Successful staging means appealing to as many potential buyers as possible. This can mean giving the home a fresh coat of paint, in a neutral color, steam-cleaning or replacing carpets, having the windows cleaned, pressure washing the home’s exterior, making sure the landscape is comparable to what is found in the neighborhood, emptying closets, removing personal items from the home, and removing evidence of pets.
There are downsides to staging. It can take time and effort to keep a home ready-to-show at a moment’s notice. More importantly, it can be expensive to stage a home. A seller needs to think about all of the costs involved to consider whether staging will affect their overall profit.
Home Wholesale Purchasers
Many distressed property sellers are scared to consider using a we buy houses company because of fears that they will pay well below market value for their home. While that may have been true years ago, modern home wholesalers can turn a profit on the property and offer a fair price for homes. Because their quotes are no-obligation, homeowners have nothing to lose by finding out what a wholesaler would pay for their home.
Tennessee House Buyer
TN House Buyer LLC is a wholesale home purchasing company that buys houses in any condition and works with homeowners to complete transactions in a timely and fair manner. They handle all the repairs for the home.
Find out more information by visiting their website at https://www.tnhousebuyer.com/.
Company Name: TN House Buyer LLC
Contact Person: Owner
Email: Send Email
Phone: (615) 991-6142
Address:1701 Blue Lake Ct
State: TN 37064
Country: United States