In many cases, homes are ready for buyers to inspect with a fine-tooth comb before going on the market. Nevertheless, life doesn’t always go as planned, and not all homeowners are in a position to put their properties in the condition buyers prefer. Many people could not continue paying their mortgage because of financial difficulties. An inability to properly maintain the property may also cause further stress due to impending deadlines for selling. Eventually, homeowners that do not maintain their property inside or outside will begin to notice signs of aging and disrepair. Simple repairs not attended to will end up becoming more serious issues.
In a situation where you are facing problems with your distressed property, it can be difficult to take the next step toward selling your home. You can, however, take the bull by the horns by educating yourself on what steps you need to take in order to solve your problems. Discover six things you need to know about selling a distressed property in Knoxville.
Value
One of the most important things you need to know about selling a distressed property in Knoxville is how to determine the value. By reviewing properties near yours that have sold recently, which are nearest to yours in size, features and proximity, you can narrow in on a value. Then, naturally, you’ll need a general idea of the costs of rehabilitating the property to adjust your asking price accordingly. A direct buyer like those at East Tennessee Home Buyers LLC will provide you with the numbers showing how much your home would sell for on the market vs. our offer to compare and decide which is best for you.
Repairs
Another thing you need to know about selling a distressed property in Knoxville, if you don’t want to sell at a reduced price, you’ll need to invest in completing any necessary repairs. However, you should be aware that discovering further and more serious issues as you dig into the home while making repairs is always possible. If you’d prefer not to fall into the bottomless financial pit that repairing a house can open, you can leave your concerns about what lies hidden up to the pros by selling your property to direct buyers like those at East Tennessee Home Buyers LLC.
Disclosure
Before selling a distressed property in Knoxville, you should fully understand the laws about disclosure. Now is the time to advise your buyer of all information relevant to the property and hold nothing back; otherwise, you may face a legal battle in court.
Timeline
When you list a home for sale, a count begins noting the days on the market, and the effect this tally has on your final sales price is another thing you need to know about selling a distressed property in Knoxville. The bottom line when it comes to days on the market, the longer the listing lingers, the lower the sales price is likely to be. Unfortunately, buyers often scroll right on by these listings because they prefer move-in-ready homes, causing the days on the market to begin to add up. While rare, some buyers may make ridiculously lowball offers, which can highly insult sellers. On the other hand, you could be sleeping well again tonight by selling your home directly to a direct buyer like those at East Tennessee Home Buyers LLC who offer a guaranteed closing in just days. If that’s rushing you, at East Tennessee Home Buyers LLC, we can set a date for closing at your convenience.
Cash
Often, financing is not an option which is another thing you need to know about selling a distressed property in Knoxville. For this reason, you’ll need to ensure that the buyers you’re working with have the financial backing to carry through with their cash offer. Additionally, for those facing a possible foreclosure, you cannot afford to tie up their property with a buyer only to have the deal fall through and run out of time to complete the sale. When you work with a direct buyer like those at East Tennessee Home Buyers LLC, we buy homes for cash, and there are no hefty commissions to pay and no hidden fees coming off the top at closing.
East Tennessee Home Buyers LLC
Selling a distressed property doesn’t have to be a stressful experience. With years of experience, the direct buyers know everything you need to make it easy to sell a distressed property in Knoxville. They are happy to answer your questions and address any concerns about the process, with no obligation. The direct buyers at East Tennessee Home Buyers LLC live and work right here in Knoxville; we are your neighbors, and we want you to feel good about your deal long after closing, so we make an offer that you will agree is fair. Contact East Tennessee Home Buyers LLC today at (865) 935-8680 to learn more!