Selling your investment property doesn’t have to be expensive or time-consuming. Learn more about your selling options in our latest post!
Listing a Detroit house isn’t always the best way to sell it. From repairs to agent commissions to the cost of waiting, selling with an agent can get expensive quickly. Below, we will outline some of your selling options so you can get the best price possible in the least amount of time.
Sell Your House On Your Own
By selling on your own, you will avoid the agent’s commission. However, you will still need to pay for marketing and closing costs on your own. You will likely find you are spending several hours per week screening calls, answering calls and scheduling property showings when selling your investment property. You will need to pay for repairs, listings and the continued maintenance of the house for as long as you own it. According to statistics, selling on your own will take more time than if you chose to list with an agent, meaning your monthly costs of ownership will add up fast. Selling the house will save you the agent’s commission, but that’s about it. Everything else from the marketing to the contracts to the negotiations is on you.
Sell To A Professional
There are many benefits to working with a professional home buyer such as Detroit Real Estate Investments. You will be able to sell quickly, allowing you to move on and end your responsibility for the home. You will not need to continue paying for the maintenance of the property. You can say goodbye to the taxes, utility bills, homeowners insurance, and other costs of ownership. You will not need to spend a dime on repair costs or having the house professionally cleaned. The convenience factor will allow you to sell quickly, being able to use the proceeds from the sale on another investment. Many investors choose to sell their properties to other investors as they both know exactly what the property’s value is. There is no-nonsense, just a straightforward and mutually beneficial sale.
If You Do List…
Don’t Bother Upgrading
If you decide to list it, you can save money by only fixing up what is absolutely necessary. If the house needs upgrades or looks outdated, leave it up to the new owners. You can offer a credit for the upgrade or other incentives to encourage people to give your property a chance. In fact, many buyers will appreciate having the opportunity to fix things up according to their taste. Imagine, if you spent a ton of money on a kitchen, and finding out that something you picked out is actually what drove a buyer away. Everyone has different tastes, and allowing the prospective buyers to incorporate theirs can actually help you with a sale.
Price It Right
If you decide to list your Detroit property, make sure it is priced right. Many people will overprice their homes because they do not know the actual value. Agents will even hype up the price in order to get you to sell. If it isn’t priced right, it will sit on the market, gradually losing its appeal to potential buyers. Many buyers will think that if a house sits on the market for too long, there is likely a reason why. Learn the real value of your home before trying to sell it. This way you can gauge your expectations, and avoid being disappointed if you receive offers you perceive to be low. Our team can help you determine the real value of the property and make you an offer for it right away.