How To Sell a Distressed Property in Philadelphia | Problem Property

Sell A Distressed Property in Philadelphia

Sell a Distressed Property in Philadelphia

We’ll cover your available options for those who need to know how to sell a distressed property in Philadelphia, and we’ll cover your available options. Traditional listings for this type of property are not suggested as they do not attract most buyers, take far too long, and are too costly for most distressed property owners with a problem property. There are over 16 million homes in the United States currently vacant. Many homes can be considered a problem property in America that needs attention.

Life can bring unexpected changes that leave you searching for solutions. Homes can fall into states of disrepair that are far beyond the owner’s capacity to handle. Death, divorce, illness, or job loss could have been lost, leading to lost income or a forced relocation at play. It happens to millions of Americans. Once a home gets beyond repair, it can almost feel like we have no solution since it becomes very costly to keep up with the maintenance of the house. Many people are turning to find out who the cash buyers are in Philadelphia to sell their homes.

Let’s dive into some options to sell a distressed property in Philadelphia.

Professional Buyers

There are always two sides to everything, which holds when considering how to sell a distressed property in Philadelphia. Let’s explore using the service of a professional cash buyer when you’re selling. Due to the nature of cash sales, you’ll benefit time-wise because of the ability to perform speedy closings.

Additionally, the sale is as-is, and there won’t be any downtime waiting for the right buyer. Nor will you be required to make the investment of your precious time and money in repairs. Another advantage is you’re not carrying any legal risk, as with selling on your own, and since most professional buyers pay all of the closing costs, you’ll save even more.

Now, because the professional buyer is taking all of the risks and offering the advantages of cash sales, their offers are below the prices realized in the current real estate market. 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 time or financial constraints they learn you’re up against. 

Do-It-Yourself

Selling a distressed property in Philadelphia on your own may sound appealing because you are in charge. Owning a problem property could be very hard for the average American. Additionally, you won’t be responsible for an agent or auctioneer’s fees, which can negatively impact your sales bottom line. If you’re knowledgeable on marketing and all of the legalities involved, you can save money by handling everything yourself while you may need to invest a great deal of time.

Conversely, inexperienced in marketing and the legal details, selling on their own often leads owners to failure. They don’t realize the highest profit on their property through their errors, but they could also end up in a legal nightmare with no way out.

Professional Auctioneers

Property auctions rarely imitate art, where fantastic prices are realized in movies and on television. Avoiding the headaches of showing your property is one of the favorable 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 of your distressed property in Philadelphia.

While there are advantages to using a professional auctioneer, keep in mind the usual fee for their service is a relatively high 10 percent of the final purchase price. Lower bids are incentivized if the bidder is responsible for the auctioneer’s fee. Otherwise, you’ll be responsible for their fee, absorbing additional costs.

Due to the nature of auctions, the outcome is not guaranteed; you may be up against the issue of low attendance. There is also the innate competition when a high volume of properties is up for auction simultaneously, leading to lower bids.

Choosing the right way to sell your home

Many people overthink things; that is just what we do. If we are experiencing a home with which we just keep finding issues, we may need to decide if it is time to sell our home. Many companies will be willing to buy your home from you without any questions. Here at Buying Property 215, we understand the challenges people face daily; we make selling problem properties as easy as possible. Sometimes you may be having issues with the home that needs you to sell the house quickly, so we close on homes in 21 days or less. We have helped homeowners whose homes threatened to be knocked down by the city in just a couple of months. We were able to close on the house and obtain a make-safe permit through the town before they could tear the home down. Suppose you find yourself hounded by the city about them wanting to tear your house down. Then it would help if you considered selling to an expert at buying distressed properties. The city will charge you $20,000 or more to tear your home down. Do not let it get to this point and sell to the home buying professional.

No matter which you choose, make educated decisions by taking the time to understand all of your options. Would you like to learn more about how we can help you sell a problem property in Philadelphia? Call 215-359-6090 today or send us a message any time!

{Buying Property 215 is accredited by the Better Business Bureau with an A+ rating and 5-star google reviews!}

Sell My House Fast in Philadelphia Pennsylvania
Sell My Home Fast | Sell A Distressed Property in Philadelphia
Buying Property 215

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