Distressed properties in Fort Bend County are never easy to sell. If you would like to know how to get yours sold quickly, this article will discuss your options. If you’re considering listing the property with a Realtor, you should know that it could take a considerable amount of time and prove to be very expensive.
Life can be very unpredictable, causing families to face decisions they hadn’t planned on. Should there be an unexpected illness, job loss, divorce or death in the family, there may be a loss of income. When this happens home repairs often get postponed and before you know it the property falls into a severe state of disrepair.
Let’s look at the options available to people needing to unload their Fort Bend County distressed property:
Professional All-Cash Buyer
There are usually multiple ways of doing everything, and when it comes to selling a distressed property in Fort Bend County this certainly holds true. One way of doing this is would be to sell to a professional cash buyer like Texas Direct Home Buyers. The main advantage of using this option is that you’ll be able to save time by getting your property sold to someone who can quickly close on the deal.
Furthermore, you’d be selling your property as is, so you won’t be expected to make repairs or even clean things up. This can save you a tremendous amount of time and money. You save even more time and money by not having to market the property while searching for a buyer. When you sell to an all-cash buyer you free yourself of the legal risks you could face if you sold the property yourself to an unsophisticated buyer. Professional all-cash buyers typically pay all closing costs, so you’d be saving money there too.
However, you need to know that since this all-cash buyer would be assuming all the risks, while you get the advantages of a quick all-cash sale, the price you can expect them to offer will be below the current fair market value in your area. This is why it’s important that you fully research your prospective all-cash buyer. You want to be dealing with a reputable company or individual who will not take undue advantage of your financial situation or time constraints. Check out our core values.
For Sale by Owner
The idea of selling your Fort Bend County distressed property by yourself may appeal to you because you’d have full control. There would be no Realtor commissions or auctioneer fees to pay, which would eat away at your bottom line. If you feel confident about your knowledge of real estate and your ability to effectively market your property, this may be the right option. However, you must be prepared for the time and money it will take, plus all the legal aspects involved in the transaction.
On the other hand, if you have little or no experience in marketing and are concerned about the legalities of this type of transaction, you should reconsider. The last thing you need is to compound your problem through avoidable mistakes that put you in serious legal jeopardy.
Property Auction
Property auctions are nothing like the art auctions you see on TV and in films, where rich people bid the prices up to incredible amounts of money. But there are some advantages to auctioning off your home. Many of these advantages are the same as working with us, but the price point for you is usually lower. But for some properties, it can make sense. You avoid the hassles of constant showings and open houses every weekend. Furthermore, you can close quite quickly, usually within 30-40 days. You also get to sell it as is, which means you won’t need to waste time and money on making repairs on your Fort Bend County distressed property.
Although there are some benefits of using a professional property auctioneer, you should know that they typically charge a fee of 10% of the purchase price, which is fairly high. If you set it up for the bidder to pay the auctioneer’s fee, this will act as an incentive to bid lower, so you’ll likely get less for your house. Otherwise, you can agree upfront to pay their fee, adding to the costs of choosing this option.
Auctions are highly unpredictable, so it’s impossible to guarantee an outcome. There could be low attendance or a huge number of properties being auctioned off at the same time as yours. Either of these possibilities would lead to lower bids.
It’s important to take your time in deciding which option to choose in selling your distressed Fort Bend County property. If you would like more information, so that you can better understand the benefits and possible ramifications of each option, please give Texas Direct Home Buyers a call today at (832) 990-9707 or email us at your convenience.
Transcript:
It’s not easy to sell a distressed property. Especially quickly. In this blog we tell you three ways you can do this. Of course there are more ways than three, and if you fill out the form we can work up a custom strategy for your property.
The first option is selling to a Professional All-Cash Buyer like Texas Direct Home Buyers. The main advantage of working with us is saving time, because we can quickly close on the deal and pay cash. You make no repairs, and you don’t have to clean the house. You simply move on with your life and leave behind all the legal hassles of owning the property. We also pay all the closing costs. Of course, if you want to get the most for your property, you’ll spend the time and money, and deal with a realtor. We want you to have all the information, so you can make the best decision for you and your family.
The second options is For Sale by Owner, or FSBO. With this option, you have full control. There are no Realtor commissions or auction fees to pay, which eat away at your bottom line. With FSBO, you will have marketing expenses and some listing fees. A lot of people have done FSBO. We encourage you to consider it. Be prepared for the time and money it takes, and study up on all the legal aspects involved. There are risks involved. Our blog has some links explaining those.
The last option we’ll talk about is a Property Auction. These auctions are nothing like the fancy art and real estate auctions shown on TV, or in movies, where rich people are typically bidding up the prices to incredible amounts of money. Auctions do exist, mainly online, but in our experience they’re more suited for special, unique properties. Normal distressed properties can be auctioned off, but usually for distressed properties, you’ll be getting a lot less than you will get selling to us. There are some benefits of using a professional auction company, but you will pay them at least 10% of the purchase price. If it’s below a minimum price the percentage is higher than that. Remember, if it’s a distressed property, your price will be affected in the downward direction. Finally, auctions are unpredictable. So you’re kind of rolling the dice. Whatever you decide to do, we want you to have all the information you need to make the best decision for you. Take your time, and decide on the best option.
For more information on selling your distressed property, call us today, or fill out the form. We want to help.