It can feel like a real challenge when selling a distressed property in Portland. How much should you spend fixing it? What’s is it really worth? Properties like this aren’t usually found on the MLS and are often avoided by many agents. This is because there isn’t a high market for homes like this. An investor will have to do the work before seeing the results. However, selling a distressed property can be very doable if you follow our tips below. Learn more about the easy way to sell now!
Tip #1 – Appeal To The Right Buyers
Not every buyer is looking for a distressed home. In fact, very few will be open to the idea. Think of who your potential buyer might be. Most likely it will be an investor or house flipper. You might find someone looking for a fixer-upper themselves, but you can’t expect to get the same response as you would with a turn-key home. When selling a distressed property in Portland make sure you make the right people aware of it.
Tip #2 – Selling A Distressed Property For Cash
Many people don’t know how easy selling a home can be. There are investors and home buying companies eager to purchase your fixer-upper. This is a great alternative to a traditional listing. One thing to look for are inexperienced and unethical buyers. Make sure you are dealing with a reputable company like AppleTree Group LLC. We make things straightforward, simple and transparent from start to finish. A good home buyer will never pressure you to sell. Instead, we will work with you to find a solution that makes sense!
Tip #3 – Don’t Over Spend On Repairs
Many people will spend money on repairs, setting off a chain reaction of costs. Often times, they will repair a house as if they are planning to live there. Improving your house can have a positive effect on the final sale price, but now is not the time for those big-ticket items. Kitchens and bathrooms sell homes. Try to make inexpensive improvements to these areas that won’t cost an arm and a leg. Repairs here, at a reasonable price, will likely attract more buyers. Remember that typically, you will not see a dollar for dollar return on your investment.
Tip #4 – Have Everything in Writing
Selling a distressed property will often require many repairs. Make sure you have a detailed contract with the buyer which clears you from all future repairs. Set the terms of the deal and be as thorough as possible. You don’t want a buyer to try to collect money for an unexpected repair, after the sale. When you sell directly to AppleTree Group LLC we buy as-is, taking full ownership of the house and repairs. We will even deal with the trash and other unwanted items left behind.
Tip #5 – Show The Potential
When selling a distressed property, help the buyer imagine how the home could be. An interior designer or carpenter can help the buyer visualize what the house could look like. Add some homey additions like lawn chairs in the back yard or fresh fruit on the table. This may seem strange when selling a distressed property, but it will serve as a subtle reminder that this could be an amazing house for the right person.
Tip #6 – Accentuate the Positive
Have a fantastic view? Showcase the window to accentuate it. Play up and great features the house has so people are able to see beyond the chipped paint and soiled carpets. Instead, direct their attention to the fireplace by adding some flowers on the mantle, or show just how appealing the location is by creating maps of the area, featuring different attractions and restaurants.
Tip #7 – Price to Sell
When selling a distressed property in Portland, set a realistic price. Many times sellers ask an inflated price because they believe the property is worth more than people are willing to pay. Look at what similar properties are selling for and price the house accordingly.
Tip #8 – Offer A Credit
An incentive will capture the attention of many buyers. Allowing a buyer to fix up the house their own way may be just the enticement needed to sell your house. If you need to replace cabinets, bathroom fixtures or make other improvements, why not let the buyer choose them? This can be very appealing and could make the idea of a fixer-upper seem a lot sweeter.