Get the Best Deal When Selling a Distressed Property

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When faced with a short deadline as a property owner tries to sell their house, they make a myriad of mistakes that lead them to sell off the property for a value far lower than the property’s worth. For many reasons, you may have to put your house on the market as a matter of urgency. Maybe you have just landed a dream position in a different state, or you are trying to offset a personal emergency. As such, you do not have time to follow the more traditional route of selling a house.

In this case, you must sell the house fast. When faced with such a dilemma, many people tend to unload the house at the first person who makes an offer. While that might work, you might end up selling the house at a considerable loss.

Play your cards close to your chest

While honesty is said to be the best policy, now is not the time to pour out your heart to any pathetic ear, especially a prospective buyer. Being too open about the circumstances driving the sale can work against you. If a buyer learns that it is a distress sale, they will be likely to use that information as a bargaining chip.

In most cases, they will be likely to zero in on your desperation to drive down the price. In the worst-case scenario, they might string you along until it is too late to get another buyer, forcing you to sell for a song.

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Be a real estate agent yourself

Why should you have difficulty selling your distressed property if you can be a real estate agent yourself. You may be into selling and buying properties in the first place. If you live in South Carolina, you can take a real estate licensing course online.

You would not have to go to an actual school to take up the course and get a real estate license. There are many real estate schools in South Carolina and other states that offer courses to people who want to get a real estate license, property management license, home inspection license, broker license, and other real estate designations.

Contract a professional service

For the best result in such cases, you are better off dealing with a specialty firm. Such companies specialize in buying such properties, regardless of their condition, for cash. Best of all, they are likely to offer you top dollar for your property instead of looking to cash in on your misfortune.

Rather than stringing you along, such buyers are ready to buck up their claim with a proof of funds. Again, you can research a company online to establish their credibility and ability to live up to their word.

Selling your house when you are under pressure or have a short deadline can prove to be an uphill task. Still, that does not mean that you should accept the first lowball offer that comes your way. You can consider the suggestions given above so that it will be easy for you to sell a distressed property.

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