How To Sell A Distressed Property in Suffolk

If you need to sell a distressed property in Suffolk, this article is for you. Often, such property may not be best sold the traditional way, because it is not a house you want to show to the whole world, when it’s in a state of great disrepair, or it is cluttered with many things piled up in each room.

Having a distressed property may have its history in a number of reasons, such as job loss, inheritance, liens, tax issues, long-time rental, etc. If you find yourself in such situation and need to relocate, or if you inherited a house that needs a significant amount of work, you can still sell it, but you may want to sell to an investor. Let’s go into the options to sell such a house in Suffolk.

Photo of Downtown Suffolk VA

Professional Buyers

When you sell your Suffolk house to a professional buyer, like Coastal Edge Homebuyers, you will save time and money. We don’t charge closing costs, agent commissions or anything else. But it gets better – we buy “as is” so you do not have to worry about the stuff in the house, cleaning or repairs. We buy houses in any condition. We close fast too and the paperwork is super easy. You will save time, because when you sell to a professional buyer (investor) like us, we can close in as little as 7 days. How? Because we use our own cash and do not have to wait for an approval process form a financial institution. Better yes – you can close on your desired date too (if there are no house title issues). That means we can time the closing perfectly with your plan to relocate whatever you a heading.

Do-It-Yourself

Of course, you can sell a property in Suffolk by yourself. For Sale By Owner. If you are pretty good with marketing and you do your inspections the proper way so you do not get into legal trouble, you can sell a house this way too. Just remember, besides the complicated work and the legalities, you will also need to do cleaning, repairs, staging and showing by yourself to potential buyers. It may be Ok for you if you have some experience, or it may prove to be a pretty daunting task… Or you can skip all the hassle and sell directly to an investor, a cash home buyer. Of course, the choice is up to you. Just remember, mistakes in this business can be costly, because they pertain to your most valuable asset – the house.

Professional Auctioneers

Auctions are another avenue to sell your house in Suffolk. Usually, properties are sold as is and close in 30-40 days. It may be a good idea in some cases. What you need to know is that in every convenience there is a fee, so in this case, you will lose 10% of the final selling price and that portion goes to the auctioneer. But, similarly to selling to a cash home buyer, you will not have to do any repairs or cleaning of the house.

Sometimes, the outcome may not be what you want. Each auction is a different experience. If there are not a lot of bidders, you will not get a high price. Also, if there is a higher volume of properties similar to yours at that auction, that will lead to lower bids.

Whichever way you choose, make sure to do your homework and look at all the Pros and Cons. You can call us for advice and we can see how we can help you sell a distressed property in Suffolk? We can also give you a fast cash offer without any hassle. Nothing beats the speed and convenience of selling your house to a professional homebuyer like Coastal Edge Homebuyers. Call today at (757) 414-7117 or send us a message any time!

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