Selling a home in excellent condition can be challenging, so when you have a property that’s distressed, the headaches can begin to multiply.
Preparing yourself for the realities of the market should you find yourself in this position can help you avoid the pitfalls and shocks of selling a property in less than perfect condition, while getting the highest possible profit for your property in the sale.
In addition, buyers looking on major property portals like Rightmove and Zoopla are typically seeking a home that’s ready to move into immediately. This can make selling your distressed property quite tough, simply because you aren’t likely to have many interested buyers.
Those few buyers who show interest often expect to get a real bargain, and won’t mind putting in a cheekily low offer. And, unfortunately, the longer a property stays on the market, the more likely it will deter potential buyers from putting in an offer.
Meanwhile, your bills and holding costs will continue to add up, costing you more money over the long term.
Here, we’ve gathered four top tips for selling distressed properties in the County Durham, Darlington, Newcastle, Gateshead, Sunderland, Northumberland, Middlesbrough, Hartlepool and Stockton-on-Tees areas.
Value
To feel confident that you’ve received a fair offer on your distressed property in the North East, you should take steps to determine its current market value. Firstly, you should take a look at other properties that have sold near you, which are a similar size and have similar features, such as a two-car garage or three bedrooms. Secondly, if the property’s in the early stages of distress, consider hiring a professional surveyor for the most accurate valuation.
Inspection
To gain an accurate picture of the value of distressed properties in the North East, you should hire a professional valuation expert to give you an accurate figure for your property. By doing so, you’ll have the numbers in hand to subtract from the current market value of homes that are in move-in condition. This will help give you a realistic number to target as your asking price.
Potential Buyers
It’s essential to understand the buyers that distressed properties in the North East will attract. While you may have some interest in the house from first-time buyers who hope to save money by investing work into the property, you’re more likely to encounter investors who improve homes as their full-time business.
These buyers purchase properties for cash in nearly any condition, investing time and effort to rehabilitate the property, making their profit on the home’s resale.
We Buy Homes North East
We’ve saved the best tip for last. We Buy Homes North East is the ideal solution for homeowners with distressed properties in the North East.
We Buy Homes North East has taken years to build a team of experienced and trustworthy professionals, because we want you to feel good about working with us long after your sale has gone through.
As for value, We Buy Homes North East will set out every detail used to calculate the numbers because we want you to agree that our offer is fair.
With the backing of cash, We Buy Homes North East can complete in as little as 28 days. If that sounds a little too quick, then no worries. We can complete on a day to suit you, so there’s no rush to be moved out before you’re ready.
Why not contact We Buy Homes North East us today to find out how we can help with your distressed property.