What is the Best Way to Sell Your Unwanted Property?
As a Realtor we are trained to list homes and sell them through traditional avenues of the multiple list service. She who has the most listings wins!! But, is this always the best way to help a client? It might not be.
There are several avenues available to homeowners, depending on their reasons for selling and their end goal.
Questions you might want to ask right away:
Why are you selling?
How did you come to own this property?
Did you inherit the property?
Do you own any other property?
If you inherited it, do you have the financial ability to maintain the property until it sells?
What condition is it in?
If you need to make repairs are you financially able to do that?
Do you have connections to get repairs made?
Are you financially able to maintain the property until it sells while repairs are being made?
How long can you financially maintain the property until it sells?
Is there enough money in the sale to pay closing costs and commissions?
You may want to develop a referral relationship with an Auctioneer.
Some benefits to selling real estate through auction are:
Buyer’s Premium/Auction Service Fee is paid by the buyer, commission is paid only if the buyer is represented by a Realtor.
Low cost marketing fee might be the only expense.
All transfer taxes and document stamps are paid by the buyer.
Often buyer takes financial control of taxes and water from the date of contract not as of closing.
Often times the auction company will pay a referral fee for your referral and the property still gets listed in the MLS and you may still be able to sell it before the auction!!
Property sold at auction is sold as is with no repairs and closes within 30 days in most cases.
What avenue best serves the seller? Referring your seller to a reputable Auctioneer might be the best route for your seller. Just another tool in your tool belt!!
I have a great local Auctioneer in my referral chain that services Maryland and Washington DC. I’m happy to give referrals!!