For those who need to know how to sell a distressed property in Fort Myers, we’ll cover the options you have available. Traditional listings for this type of property are not suggested as they don’t attract most buyers, take far too long, and are too costly for most owners of a distressed property.
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. There could have been a death, divorce, illness, or job loss, leading to lost income or a forced relocation at play.
Let’s dive into some of the options to sell a distressed property in Fort Myers
Professional Buyers
There are always two sides to everything and this holds true when considering how to sell a distressed property in Fort Myers. 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 extremely quick closings.
Choosing to sell your property as-is can offer numerous benefits and streamline the entire selling process. One of the primary advantages is the elimination of downtime typically associated with waiting for the ideal buyer. By opting for an as-is sale, you bypass the uncertainties and delays that often accompany traditional real estate transactions. There’s no need to invest additional time and money into repairing or renovating the property, which can be both financially burdensome and time-consuming. This approach allows you to sell the property in its current condition, saving you from the hassle of overseeing repairs or upgrades.
Moreover, selling your property as-is can mitigate legal risks that might arise when selling independently. Professional buyers often handle the legal aspects of the sale, ensuring that all necessary documentation and procedures are completed correctly and efficiently. This not only provides peace of mind but also reduces the potential for legal complications down the road. Additionally, many professional buyers cover all closing costs associated with the transaction, further reducing your financial obligations and maximizing your net proceeds from the sale. This straightforward approach to selling can be particularly advantageous for those looking to expedite the sale process without the complexities often associated with traditional real estate transactions.
Now, because the professional buyer is taking all of the risks, and offering the advantages of cash sales, their offers are below the prices being 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
Choosing to sell your property as-is can offer numerous benefits and streamline the entire selling process. One of the primary advantages is the elimination of downtime typically associated with waiting for the ideal buyer. By opting for an as-is sale, you bypass the uncertainties and delays that often accompany traditional real estate transactions. There’s no need to invest additional time and money into repairing or renovating the property, which can be both financially burdensome and time-consuming. This approach allows you to sell the property in its current condition, saving you from the hassle of overseeing repairs or upgrades.
Moreover, selling your property as-is can mitigate legal risks that might arise when selling independently. Professional buyers often handle the legal aspects of the sale, ensuring that all necessary documentation and procedures are completed correctly and efficiently. This not only provides peace of mind but also reduces the potential for legal complications down the road. Additionally, many professional buyers cover all closing costs associated with the transaction, further reducing your financial obligations and maximizing your net proceeds from the sale. This straightforward approach to selling can be particularly advantageous for those looking to expedite the sale process without the complexities often associated with traditional real estate transactions.
Conversely, inexperienced in marketing and the legal details, selling on their own often leads owners to failure. Not only don’t they 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 Fort Myers.
While there are advantages to using a professional auctioneer, keep in mind the usual fee for their service is a rather high 10 percent of the final purchase price. Should the bidder be responsible for the auctioneer’s fee, lower bids overall are incentivized. Otherwise, you’ll be responsible for their fee, absorbing additional costs.
Due to the nature of auctions, the outcome isn’t 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 at the same time, leading to lower bids.
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 distressed property in Fort Myers? Just call Core Real Estate Properties today at 239-360-3176 or send us a message any time!