If you are someone that needs to know how to sell a distressed property in Kansas City, we will cover the options you have. Listing with a Realtor for this type of house is not recommended. Most buyers will not be attracted to something that is in major need of repair, such as a distressed property.
Sometimes life happens and there are a lot of unexpected events that take place that cause you to look for solutions. Homes can easily fall into a state of disrepair and can quickly become something beyond the owners ability to take care of. There could have been a death, divorce, illness, or job loss, leading to lost income or a forced relocation at play.
Let’s dive into some of the options to sell a distressed property in Kansas City
As always there are two sides to everything and when having to sell a distressed property in Kansas City, this also holds true. Let’s spend a little bit discussing the use of a investor that pays cash for houses. Typically due to to nature of cash sales, as a seller you will benefit because the buyer will close very fast.
Another benefit to you as the seller of a distressed property in Kansas City is that the sale to an investor will be as-is. Which means you won’t have to make any repairs and there won’t be any time wasted waiting for the right buyer to come along. So not only do you save time, you save money. Another way that you will save money by selling to a Kansas City home buyer is that they will pay all of the closing costs, which will save you even more money.
The downside to you as a seller when selling to an investor is that you will more than likely get offers below the prices on the open real estate market. Reason being is that the investor is taking all the risk and paying for all of the repairs they won’t be able to pay market value. Regardless of who you speak with make sure tha you do your research on the person you are working with. There are a lot of buyers that try to take advantage of people in need of selling their house.
Selling a distressed property in Kansas City Metro on your own may sound appealing because you’re in charge. Additionally, you won’t be responsible for an agent or auctioneer fees, which can negatively impact your bottom line on the sale. If you’re knowledgeable on marketing and all of the legalities involved, while you may need to invest a great deal of time, you can save money by handling everything yourself.
Conversely, inexperienced in marketing and the legal details, selling on their own often leads owners to failure. Not only don’t they realize the highest profit on their property through their errors, but they could also end up in a legal nightmare with no way out.
Property auctions rarely imitate art, where fantastic prices are realized in movies and on television. Avoiding the headaches of showing your property is one of the favorable aspects of auctions. Additionally, these properties close within 30 to 40 days and sell as-is, so you won’t need to continue to pour time and money into repairs and upkeep of your distressed property in Kansas City Metro .
While there are advantages to using a professional auctioneer, keep in mind the usual fee for their service is a rather high 10 percent of the final purchase price. Should the bidder be responsible for the auctioneer’s fee, lower bids overall are incentivized. Otherwise, you’ll be responsible for their fee, absorbing additional costs.
Due to the nature of auctions, the outcome isn’t guaranteed, you may be up against the issue of low attendance. There is also the innate competition when a high volume of properties is up for auction at the same time, leading to lower bids.
No matter which you choose, make educated decisions by taking the time to understand all of your options. Would you like to learn more about how we can help you sell a distressed property in Kansas City Metro ? Just call PSR Home Buyers today at (913) 708-1185 or send us a message any time!