Ready to sell a Long Island fixer-upper property now? We’re here to help. If you’ve taken a sudden leap of faith into the adventurous fixer-upper business or find yourself burdened with a property that’s fallen into disrepair, it’s time to take action. We’ll cover 4 ways to sell a fixer-upper property.
It goes without saying that real estate agents will be taking 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 the profit margin when you sell a fixer-upper property. In general, buyers in Long Island 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 digital technology. There is an intense focus on curb appeal and staging properties, making them extremely attractive. Trying to compete against these listings with a fixer-upper property, which is usually less than attractive, meaning that yours may not get the attention it deserves.
Fix it Up
Do it yourself! Hollywood has made it look easy to the masses to sell a fixer-upper property in Long Island. 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 buyers have of today’s homes, 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 be a very expensive lesson indeed. Unexpected discoveries, which you may have to pay to repair, can run into thousands, especially foundation, plumbing, cooling, and heating systems or structural issues of a serious nature. You’ll be losing valuable time and dealing with the headaches of scheduling professionals, overseeing the project, and the red tape of permits. You would be remiss not to have a professional inspection and appraisal done before you take this avenue.
Sell on Your Own
Time waits for no one and while your trying to sell a fixer-upper property in Long Island, the monthly overhead continues. 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 bring your fixer-upper into focus for the right buyer. It’s 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 for showing the property. It’s likely you’ll 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 plans can hurt you financially. Due to their lack of experience, the process can be very bumpy. The bottom line is that your profits on the set price will be melting away under your feet as they stumble along. Regrettably, many end up backing out of deals. When you’ve moved forward with 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.
Sell to Prestige Home Buyers
We can relieve you of the stress and expenses to sell a fixer-upper property Long Island. We take all of the risks, buying as-is with a quick closing date. Information moves extremely rapidly in the real estate market. As experienced real estate investors, we understand that the business requires a great deal of time as well as proficiency with the latest technology. With a 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 and 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 Long Island 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’re dedicated to staying on top of the game! Prestige Home Buyers is successful because we make it easy for our buyers and sellers! We’ll do all of the work while you’re enjoying your earnings! Make a wise choice and start working with Prestige Home Buyers. Send us a message or give us a call today to learn more! (631) 336-9166