Ready to sell that Baltimore fixer-upper property now? We’re here to help. If you’ve taken a sudden leap of faith into the current fixer-upper business or you find yourself burdened with a property that needs work, it’s time to take action. We’ll cover 4 options that you have when it comes to selling a fixer-upper property.
1. Traditional Agent Listing
It goes without saying that a real estate agent will take a piece of the pie when they sell your property. You’ll want to keep this in mind when weighing the high costs for their services, which will lower your profit margin when you sell a fixer-upper property. In general, most buyers in Baltimore are searching traditional real estate listings and are seeking homes that are immediately available. Savvy real estate agents have taken advantage of the advertising offered through the use of the internet and today’s digital technology. There is now a big focus on curb appeal and staging properties, making them extremely attractive. Trying to compete against those listings with a fixer-upper property- which is usually less than attractive- means that your property may not get the attention that it deserves.
2. Fix it Up: DIY
Do it yourself! TV shows have made it look easy to sell a fixer-upper property in Baltimore. But there are many potential risks involved with a fixer-upper property. Depending on the amount of updating, repairs, or replacements needed to bring the property up to standard, your costs may be overwhelming. Especially if you’re trying to meet the demands of today’s home buyer, including technology. The reality is, unless you have an extensive construction background, failing to understand just what you are getting into with a fixer-upper property can become a very expensive lesson indeed. Unexpected discoveries, which you may have to pay to repair, can run into thousands of dollars, especially foundation, plumbing, heating & cooling systems, or structural issues of a serious nature. You’ll be losing valuable time and dealing with the headaches of scheduling contractors, overseeing the project, and the red tape of getting required permits. You may want to have a professional inspection and appraisal done before you go down this road.
3. Sell it Yourself
Time waits for no one and while you are trying to sell your fixer-upper property in Baltimore, the monthly overhead continues to add up. It can take a long time to sell a home, whether you choose to do so on your own or with a real estate agent, especially if you’re missing the mark. You will need to do your homework to transform your fixer-upper in order to attract the right buyer. It is extremely important to understand how to set the price at the right number. Getting this wrong can deter buyers before they ever give you a chance. You’ll need to cover marketing expenses and be readily available to show the property. It’s likely that you will be working with buyers who may be inexperienced as well. Understand that because the purchase price of the property has already determined your possible profit, any delays or changes in the plans can hurt you financially. Due to the buyer’s lack of experience, the process can be very bumpy. The bottom line is that your profits on your set price will be melting away under your feet as they stumble along. Regrettably, many buyers end up backing out of deals. When you have moved forward with your plans that are relying on the funds from the sale, an event like this can be devastating. Especially after you’ve spent considerable amounts of time and money, not to mention having missed out on other potential buyers.
4. Sell the Property AS-IS to Maryland Home Buyers
We can relieve you of the stress and costs involved with selling your fixer-upper property Baltimore. We take all of the risks, buying as-is with a quick closing date. Information moves extremely quickly in the real estate market. As experienced real estate buyers & investors, we understand that the business requires a great deal of time as well as proficiency with the latest technology. With our winning marketing plan and through years of networking, we have access to financial and other reliable professional resources in the industry. We’re intimately familiar with federal, state, and local laws, as well as any updates to those laws. Running an investment business means you must continually educate yourself. Forms and other regulations can change and it is risky not to remain tapped into the resources which provide this information. Likewise, in order to win at the fixer-upper game, you need to know the Baltimore listings like the back of your hand. Being familiar with listings on a daily basis is time-consuming but gives us the cutting edge.
We are dedicated to staying on top of the game! Maryland Home Buyers is successful because we make it easy for our buyers and sellers! We do all of the work while you enjoy your profits! Make a wise choice and start working with Maryland Home Buyers. Send us a message or give us a call today to learn more! (410) 657-2523