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.
For those who need to know how to sell a distressed property in Mercer County, we’ll cover the options you have available. Traditional listings
for this type of property are not suggested as they don’t attract most buyers, take far too long, and are too costly for most owners of a distressed property.
There are always two sides to everything, and this holds true when considering how to sell a distressed property in Mercer County. Let’s explore using the service of a professional cash buyer when you’re selling. Due to the nature of cash sales, you’ll
benefit timewise because of the ability to perform extremely quick closings. 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 Mercer County 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, inexperience 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 Mercer County.
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 Mercer County? Just call The Cardwell Thaxton Group today at 908-456-1593 or send us a message any time!
We research the details of your home and start crafting a great offer for you.
We present you with a fair cash offer with no obligation and no fees.
Get the cash you need now. You do NOT have to wait 6 – 12 months to get your house sold.