In Kenny Rogers’ song, the “Gambler,” he says, “Know when to hold ’em, know when to fold ’em.” Even though he is singing about gambling, these words are so profound for real estate investors whose primary investment strategy is to find, fix and sell houses for a profit.
Since this is often a small city, my friend probably simply picked up the phone book, so I don’t understand if they did any self-marketing. But if they did, agents one and 2 blew it before they ever got started. From their behavior, anyone would assume that they didn’t even want a listing.
The benefits with this type of purchase are great. The price that you pay for the house or property will be greatly reduced from comparable properties in the area. Most individuals that find themselves faced with foreclosure have no way to get out of the situation, and would rather sell and not make a profit, then to face the repercussions that can result in foreclosure. You also will have the ability to discuss price and negotiate directly with them. There isn’t a Real Estate Agent, just you and the owner. When making an offer on a property in foreclosure it is less likely the owner will turn it down, verses when dealing with a Spring hill Homes for sale and having to go back and forth until a good deal is made.
Consider the current market before deciding to fix your home or selling it as is. Many buyers want a home that is move in ready or needs minor repairs. Homes that require a tear down or complete renovations will most likely sell at a very low price and attract resellers or contractors.
Neglecting to give your home the maximum exposure will let it sit for a while in the market. If you refuse to use the internet to give your home a good exposure and other modern advertising forms, then there is no way it will sell since many homebuyers prefer the internet to look for a home to buy.
___ Moving. When the closing date is certain, transfer utilities to your name. Change your address at the post office. Pack. Hire a mover or arrange for a u-haul. Transfer your prescriptions if you are moving out of town. Register the kids in their new schools.
As a result, you should price your home well within the final listing prices of comparable homes and just below a pricing quantum to get your home seen as rapidly as possible when it first goes on the market. This will normally get you the best price for your home as quickly as possible.