Real Estate
When looking at the real estate market in California’s San Joaquin and Stanislaus Counties, it is not uncommon to see people selling a vacant or distressed home. Homes like these tend to sit in that manner for a long time. No matter the reason, if you are an owner of one such home, it should not stop you from selling your house!
We won’t lie, selling a vacant or distressed home comes with its own unique set of challenges. There are things you can do to help the sales process, or other avenues you can take to sell your house fast.
If you want to sell by putting your home on the market, here are 5 things you should do before you list your property!
Understand the Market
Looking at the nation’s real estate market is not going to give you a good idea of what a real estate transaction will look like for you. Everyone knows that when national averages come in on income, housing prices, etc., California’s numbers will always be higher than average. The national average does not accurately represent our state, let alone our county. So why do we think it would represent our real estate market? Make sure you do research on how our current, local real estate market is performing. The state of the market can change your mind on if this is the right time to sell your house.
Know Your Pricing Strategy for a Vacant or Distressed Home
When you start to think about how you are going to price your property, it would be wise to set your expectations. When a vacant or distressed house goes on the market, it cannot be compared to other nearby houses. Just because a house with less square footage or the same number of bedrooms and bathrooms sold for a certain price, by no means means that yours will.
Your property likely comes with a potential truck load of dollar signs. Distressed homes often require hundreds to thousands of dollars worth of cleaning before making it presentable for sale on the market. And you don’t only need materials, but also the labor that goes into making your house ready to sell. Think about how much that would cost you to complete, then subtract that from what you thought your house might sell for. Then you might have a better idea of what you may get for your house and can set better expectations.
Financial Considerations During A Vacant or Distressed Home Sale
Another thing to know as you enter the real estate market, is that if you sell the traditional way you will need to have inspections done on your house before selling your vacant or distressed house. This can very quickly derail a deal. When looking at a vacant or distressed home, there are a number of associated costs that you can see. When you have inspections done, all of the unseen problems can come to light.
It can be helpful for you to have inspections done prior to placing your house up for sale. This can help weed out buyers who don’t want to deal with those problems. Or it can give you an even better idea of the offers you could end up getting for your vacant or distressed property
Working with Professionals
Honesty is going to go far for you during this process. You don’t need an agent to string you along with the perfect sale process only to find that they didn’t set proper expectations. Or they don’t have connections who are able to do you justice in the selling process. This could end up costing you more money in the long run.
Make sure that when you choose someone to work with, that they have been through this process in the past. Make sure that they have successfully sold houses like yours and ask them how the process went. Ask them how they handle inspections, how quickly they have sold the houses in the past, and what it costs the sellers (like you!) to sell the home.
A professional is not afraid to answer questions, and you should not be afraid to ask them!
Preparing the Property
Selling your vacant or distressed house, you will have two different types of people who you can look for. The first is your typical buyer, looking for a house that is fairly move-in ready that they can move their family into almost immediately. If you want to sell to this buyer, you can expect to need to fix up house ready before selling. While you can forgo potential updates and sell at a lower price, you need to make the house clean and ready. This could range from a deep carpet clean to carpet replacement depending on how they look. This will go for all areas of your home. You may find yourself making various replacements and having different cleanings done. Make sure you take this into consideration when understanding the timeline of when you need to have your home sold.
The second is a cash buyer. Cash buyers usually don’t need you to do anything to your property, they will take it as is! Cash buyers are also more flexible with timing, allowing you to sell the property in a shorter or longer timeframe. They will often buy without you needing to put your house on the market, saving you additional time and money. And the surprises that may lay behind inspections? You likely won’t have to deal with those either. Most cash buyers are willing to bypass the inspection process to help you sell your house fast for cash. Your vacant or distressed home does not have to sit unused any longer.
What’s the right choice for you?
Eric with ASDM Homes offers an easier alternative so sell your house fast for cash. Cash offers can help you sell your house quickly, for a fair price, without the need for repairs or inspections. Selling a house on the market can be a long and difficult process. Selling your vacant or distressed home does not have to be.
If a cash offer is what’s right for you, Eric with ASDM Homes is here to help! We can give you a fair cash offer, help with all the legalities, and streamline the process. We can help get your home sold and fast! Contact Eric today to find out what you can get for your home and how quickly you can get cash in hand!