Are you currently a homeowner with a million things going wrong with your property? Millions of homeowners across America are constantly facing the uphill battle of keeping up with the maintenance of their homes. Sometimes it may drive us crazy with the number of problems going wrong. When this happens, we don’t know where to turn. Occasionally you would contact a real estate agent, and they won’t even take the listing for you. Because your home requires too much work, the real estate agent may think it won’t sell on the market. What happens if you’re out of state and can’t maintain a property anymore and need help selling it. Sometimes you may even be dealing with an unruly tenant who is not paying. What if you have no more use for the property, and it’s just causing you more of a headache than it’s worth. There are plenty of factors that force people to want to “sell my house fast.” In this article, we will discuss a few options on how homeowners can get rid of that unwanted property. Even if it is considered distressed real estate, there’s always a way for you to sell your home.
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What exactly is “distressed” real estate
Many homeowners across America face a home that just keeps causing them problems. Sometimes they may not even visit the house for a long time, and it sat there vacant. Causing the environment to take control of the property & cause serious issues. Sometimes, you may notice structural problems, outdated looks, or just needing too much work in these homes. For whatever reason, the homeowner has not been able to take care of the property for years. If you own a home, you notice that things go wrong somewhat frequently. It becomes a more significant problem if these things are not attended to overtime. If a homeowner finds themself in a situation like this, they may need to sell the property quickly unless they look to do the repairs themself. Repairing a home can be a costly process.
What are my options?
One of the first options some people turn to in a situation like this would be applying for a construction loan. Or even may borrow money from a family member to renovate the home. In this situation, they will hire a contractor or expert to do the work for them. If you have the means and know the people to do it, this can be a very beneficial route. This way, you get to keep the home and restore it to its natural Glory. Sometimes, it may become difficult to apply for a construction loan. Most people with distressed property do not have the means to get a construction loan. Either they have fallen on financial hard times or just don’t have the interest to do it. Even if you’re not remodeling the home yourself, it still is a massive headache to deal with the entire process. Though this is a solution, it is not the one that we highly recommend.
Contacting a real estate agent
Some real estate agents may turn down a distressed property, as we mentioned before. However, there are some willing to take on the listing. Yes, you can sell your property as-is on the market. Your agent will put in the listing that you do not want to make any repairs. It is 100% on the buyer to replace anything that needs to be replaced. You may get good exposure doing it this way. But you are limited to the type of people who want to purchase your home. It’s not very likely that a young couple will want to buy a home that needs too much work. They do not have the time to make the replacements the same as you. When this happens, you may get many lowballs offers through your real estate agent. So just be prepared if you take this route to sell your home.
Selling to an Investor
If the property needs tons of work, it may be best to sell to a real estate investor. There are plenty of cash home buyers in Philadelphia that are willing to buy your home from you in no time. They focus on a fast close, usually less than 21 days. The reason being is that they have cash on hand to purchase your home outright. They then buy the property and do the work themselves. Most of the time, they will hold on to the house for rental purposes. Generating them money each month. They may even do the work and resell it for months down the road. When they come to look at the house, they do not ask you to make any repairs to the home. Since they are buying the property as is as much easier for a homeowner to sell this route. They are experts at handling distressed properties. News
Faced with a property that needs work.
As we had mentioned before, millions of Americans are faced with problem properties. This means they can’t always take the traditional route of selling their home. Some real estate agents may not even take the listing from you if the house needs too much work. Investors are becoming a more common way for people to sell their homes. The reason being is that they’re making it so much easier on homeowners that have homes that need tons of work. If you find yourself in this category, we highly recommend reaching out to a company today to quickly sell your home.