If you need to know how to sell a distressed property in Baltimore, we can share with you some of the options available. A traditional listing for a distressed property isn’t always the best because buyers aren’t as interested, it can take a long time to sell, and it can be costly for most owners.
Your house can fall into disrepair, we get it, life happens. Maybe there was a death, divorce, someone got sick or lost a job, which meant you had a loss of income or you have to move quickly.
A professional buyer is someone who can buy your property for cash. This can be a great thing since cash sales tend to be fairly quick, sometimes in even as little as 7 days.
Another great thing about selling to a professional buyer is that the sale is as-is. You won’t have to make any costly repairs or spend time getting the property repaired. You’ll also save on closing costs, because a professional buyer will pay all the closing costs.
Since the professional buyer is taking all the risks, their offers are below market prices. Be sure to do your research when looking into using a professional buyer. We’ve heard of folks with horror stories of working with dishonest professional buyers.
It may sound appealing to sell your distressed Baltimore property yourself. You won’t be responsible for auction or agent fees. If you know marketing and have a sense of the legal side of things, while you may need to invest a lot of time, you can save money by selling it yourself.
Unfortunately, if you’re inexperienced in marketing and the legal details, you may end up holding the property for a long time, not get the best profit and have a legal nightmare on your hands.
Not having to show your property is definitely a positive aspect to an auction. Going this route means you can close within 30-40 days and sell as is.
You do want to keep in mind that the fee for the service is typically high, sometimes 10 percent of the final purchase price. But, because of the nature of auctions, you don’t have a guaranteed outcome.
Whatever you decide, we wanted to share a few options. If you’d like to learn more about how we can help you with your distressed property, you can give us a call today at 443-218-3133 or fill out our quick cash offer form here.