For those who need to know how to sell a distressed property in Kansas City, we’ll cover the options you have available. I don’t recommend traditional listings for this type of property. They simply take too long or too expensive and are unlikely to generate the right types of buyers for the home, leading to a lot of frustration and heartache.
Life can bring unexpected changes that leave you searching for solutions. Homes can fall into states of disrepair that are far beyond the owner’s capacity to handle. 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
There are always two sides to everything and this holds true when considering how to sell a distressed property in Kansas City. Let’s talk about using a professional home buyer to sell your home. These can be really attractive options because you’re able to sell your home quickly with limited hassle.
Additionally, the sale is as-is and there won’t be any downtime waiting for the right buyer. Nor will you be required to make the investment of your precious time and money in repairs. Another advantage is you’re not carrying any legal risk, as with selling on your own and since most professional buyers pay all of the closing costs, you’ll save even more.
Now, because the professional buyer is taking all of the risks, and offering the advantages of cash sales, their offers are below the prices being realized in the current real estate market. A word to the wise, do your research on who you’re dealing with. Regrettably, there are unscrupulous buyers who may try to take advantage of time or financial constraints they learn you’re up against.
Selling a distressed property in Kansas City on your own may sound appealing because you’re in charge. You also don’t have to worry about paying any fees or commissions or anything like that. You don’t have to worry about that when using a professional home buyer, but if you’re willing to invest the large amount of time and you feel comfortable with the legalities and the paperwork of the process, you can certainly make a little more money by doing 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.
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? Just call Green Sparrow Properties today at 816-800-9238 or send us a message any time!