Under good conditions, selling a property in Minneapolis MN can be quite an easy thing to do. If you have an attractive house that has no liens on it, is in a good state of repair and you have an open sale timeline, things will likely be a whole lot simpler for you. As such, you could opt to hire a real estate agent, fill out the paperwork, clean and stage your interior then wait the 3-6 months it will take you to sell. No biggie.
However, if your circumstances aren’t great and you need to sell a distressed property, everything is bound to be totally different! Not only will your options be a whole lot more limited, but you may have to find creative ways to find a buyer who’s willing to purchase your distressed property. This is mainly because, unlike most regular buyers, you won’t be able to fetch a decent price or sell fast on the open market. In addition to this, selling a property with an agent is quite expensive, which may put you in a tough financial position if your home is already distressed.
But fear not! For those who need to know how to sell a distressed property in Minneapolis, we’re going to cover some of the home sale options you have available in this blog. So read on to discover how to sell a distressed property in Minneapolis MN.
Options to Consider When Selling a Distressed Property
Read on to discover the top 3 options to consider when selling a distressed home in Minneapolis MN.
Sell Your Distressed Property to Professional Home Buyers
Let’s explore using the service of a professional cash buyer when you’re selling a distressed property in Minneapolis. Due to the nature of cash sales, you’ll benefit time-wise. Cash Home Buyers are usually able to close extremely quickly because of the readily available cash they often have at their disposal. Here at FastPath, we are prepared to close on any offers we provide our home sellers in as little as 7 days. With us, there is no downtime. You won’t have to spend months waiting for the right buyer to come around the corner. Contact us Now and get a fair all-cash offer by filling out the short form down below.
Additionally, the sale is “as is”. This means that a professional home buying company will not require you to clean your house. Nor will you be required to make the investment of your precious time and money in repairs. Now, because the professional buyer is taking all of the risks, and offering the advantages of cash sales, their offers are usually below the properties current market value. 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 the time or financial constraints that you may be facing.
Here at FastPath, we value our customers. Unlike those companies that seek to take advantage of distressed home sellers, we seek to help all our customers out of difficult situations. This, we do, by giving our home sellers the highest possible offer we can. We may not be able to offer you retail value for your house, but we can promise that we will ensure you get a fair all-cash offer when you sell your home to us. So contact us today by calling (612) 351-2384, or by filling out the short form down below.
Do-It-Yourself When Selling Your Distressed Property
Selling a distressed property in Minneapolis on your own may sound appealing because you’re in charge. You won’t have to worry about real estate agent or auctioneer fees, which can negatively impact your bottom line on the sale. If you’re knowledgeable about marketing and all of the legalities involved, which might require you to invest a great deal of time to learn, you can save money by handling everything yourself.
However, if you are inexperienced in marketing and in the legal details, selling on your own often leads homeowners to failure. Not only do home sellers not realize the highest profit on their property through these errors, but they could also end up in a legal nightmare with no way out.
Sell Your Distressed Property with Professional Auctioneers
Avoiding the headaches of showing your property is one of the favourable 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 for your distressed property in Minneapolis.
While there are advantages to using professional auctioneers, keep in mind the usual fee for their service is rather high. They typically charge 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, and for 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 are up for auction at the same time, leading to lower bids.
Life can bring unexpected situations that leave you searching for solutions. And these situations can leave you with a distressed property that needs to be sold. If you ever find yourself facing issues like this, FastPath Home Buyers is here to help you. Here at FastPath, we are cash home buyers in Minneapolis, and throughout the state of Minnesota. Above all else, our main mission is to support home sellers within our local community, by providing them with a fast and easy way to sell their houses.
Sometimes, when you’re going through a tough time, you may need solutions quickly. This is what we provide! Contact us today by calling (612) 351-2384 or filling out the short form below, and take the first step to selling your distressed property as quickly as possible (usually within 7 days).