How to Easily Sell a Dilapidated House
No matter if you’ve had walls or bedrooms completely destroyed, bathrooms overflooded, and even the most extreme, a house fire, you can still make a sell of your property. You can sell a dilapidated house the same way as you sell any home. However, the only difference is, your buyer will not be a traditional family home buyer. If your only goal is to make a sell of a broken-down property there here are your options.
Listing Your Property on the MLS
Like any property, you can list your distressed home on the multiple listing service (MLS). This is a good option if you do not need to sell fast. Typically, when listing your property on the MLS, your agent will help you get the most you can for a property. However, depending on the condition of the property, there may not be much extra money in the property to sell and you justify paying a 3 to 6 percent commission to an agent.
On the other hand, if the property can afford it and for some reason you need to sell fast, you could get lucky to find an agent who has a connection with an investor who typically buys distressed properties.
If you are in a bind and need to sell fast, contact us here for an offer to purchase your property. No agents or commissions charged.
Finding the Right Balance on the MLS
If the price is too high, you may only get your hopes up and waste a lot of time waiting for a buyer. At the very least, know the minimum you’d be willing to sell the property for because there may be a small demand for a home in your property’s condition. Try to find a good price where you’ll feel comfortable and give enough value where the buyer can see the potential.
Promoting Your Own Property
Nowadays, you can sell your own property in any condition on your own. One of the benefits here are you will not have to pay any commissions. This would be a great option if there is only a small amount of value left in the property. Let’s go over a few ways you can do this.
For Sale by Owner Signs
One way to sell your property is to put a “For Sale by Owner” sign in the front yard. This will give all the locals a chance to contact you if there interested. All you need to do is add your phone number to the sign and you’ll start getting calls from intregued buyers. The only real limitation here is you can only get calls from people who come down your street. If you’re street has low traffic, you have a lesser likely chance of finding a potential buyer.
Craigslist
Option two is to use Craigslist.com (CL). As you know, everything goes on craigslist and there a big real estate scene on Craigslist too. To give yourself better odds of finding a buyer, list your problem property on Craigslist to help bring in more local traffic.
CL is a great option if you wish to get more drive by traffic and phone calls. Just be sure to post images of the damage so there won’t be any major surprises for anyone looking for a great condition home. The more pictures the better.
Lastly, be sure to leave a contact method on the Craigslist listing. You can leave a contact phone number, email or be messaged through the Craigslist platform.
Real Estate Websites
If you’re not having any luck with a “For Sale by Owner” sign and Craigslist, you may want to try listing your property on a well known real estate website. Some popular real estate websites are: Zillow.com, Redfin.com and Trulia.com. These sites are free to sign up and are sure to get you some traffic due to their popularity in real estate buying, selling and data collection.
Another advantage of listing on these websites is, they are the next best thing to listing on the MLS. Often many buyers will look to online sources to find properties, especially if they do not have an agent giving them MLS access.
Online Commercial Property Listings
If your property happens to be commercial, there is a more popular website for those property types. Loopnet.com is the most well known website for commercial deals. They have storage units, apartments, mobile home parks, plazas and much more as their main focus in commercial.
As a result definitely be sure to list on Loopnet.com if your property is commercial related. As a quick reference, if your property is a home of four or less units, it will likely be considered residential. If your property is five or more livable units, it will be considered commercial.
Selling Your Property to an Investor
Regardless of which method you choose to sell your distressed property, it will likely be an investor who steps in to consider a purchase. This is because most traditional home buyers want a property in a livable condition. That being said, you are doing all of your marketing to find a potential investor buyer.
You Just Found an Investor Buyer
We know that find a buyer can be challenging so we created these resources to help connect sellers with real buyers. If you like to get a real offer to buy your property, contact us here:
Selling a Distressed Home Summary
In sum, there are multiple ways to sell your property which is a sign in your yard, a listing online or through new relationships. Ultimately, you looking for someone who can pay all cash because a bank will not put a loan on a distressed property to a real estate investor will be your best friend in this case.
If you selling on your own, market using all of the methods provided above and if you want an even faster solution, contact us below as soon as possible to get the most immediate help.
