Sometimes life throws a curveball. A family member gets sick. There’s an accident. Suddenly you need to sell the home, and the house is in rough shape. It happens quite often actually and I get it.
Here’s what doesn’t work: Hiring an inexperienced agent and pretending the home condition doesn’t matter or pricing it like a move-in-ready home. Buyers run away the moment they realize how much work -and really money – is needed. And Cash investors, they can smell wishful thinking from a mile away.
Hi, I’m Tanja Odzak, Realtor with eXp Realty. I help people sell and buy homes right here in the East Bay
So what works to get the house sold? First- hire an agent that’s experienced in this real estate subspecialty that’s going to fight for you and protect you. Then price it for what it actually is. If the foundation needs work, the electrical is outdated, there’s mold, and the roof is questionable, get those inspected and price the home accordingly. A $1,000,000 home in poor condition might sell for $500,000 to $700,000 depending on what the issues are and the rehab costs.
Next, target the right buyer. You’re not selling to first-time homebuyers or families if the home is in poor condition. You’re selling to cash investors and rehabbers who buy ten homes a year. They know the numbers. They close fast. They also know how to take advantage of people in vulnerable situations and lowball you all the way to the close of escrow. (that’s where my experience protects you)
Many of these kinds of homes are sold off-market because the MLS is not where a cash investor tends to shop for homes. You need the right Realtor with the right connections and the right selling conditions.
I always work to get my sellers top price… but remember the goal is speed and certainty, not maximum price. A $550,000 certain close in two weeks beats $570,000 that sits for four months while your holding costs accumulate.
I’m Tanja Odzak and I’ve sold over $95 Million worth of homes and have a decade of experience, If you’re in this situation and need to move fast, call me and I’ll get you a game plan.