Selling a vacant house can be challenging, especially if you live in a different state. However, it can be profitable and straightforward with the right strategies and knowledge. Let’s discuss selling a vacant house and maximizing your profit.
Get Your House Ready for Sale
Before putting your house on the market, you must ensure it’s ready for potential buyers. This includes cleaning the house, removing personal belongings, and making necessary repairs. Consider hiring a professional cleaning service and a home inspector to identify any issues that need to be fixed.
Set a Reasonable Price
Pricing your vacant house correctly is crucial to attract potential buyers. You should research the local market to determine the average selling price of similar properties in the area. If you overprice your house, it may sit on the market for a long time, and you might lose potential buyers. On the other hand, if you underprice it, you may not get the full value of your property.
Consider Home Staging
Home staging involves decorating and furnishing a house to make it more appealing to potential buyers. Home staging can help buyers imagine themselves living in the house and increase the chances of a quick sale.
Two common methods of selling a vacant house are through a traditional home sale or selling to a cash home investor. Both methods have their advantages and disadvantages, and it’s important to understand them before deciding which route to take.
Traditional Home Sale
A traditional home sale involves hiring a real estate agent to list your house on the market, market it to potential buyers, and negotiate with interested parties. While this method may result in a higher sale price, it can take several months or even years to sell a property. Additionally, you may need to invest in repairs, cleaning, and staging to make your home marketable.
Selling to a Cash Home Investor
Selling your vacant house to a cash home investor involves working with a real estate investor or company that buys properties directly from homeowners for cash. The process is typically quick, with a closing time frame of as little as a few days to a few weeks. Cash home investors usually buy houses as-is, so you won’t have to worry about making repairs or staging your property.
When to Consider Selling to a Cash Home Investor
Selling your vacant house to a cash home investor can be a good option if you need to sell quickly or if your property is in poor condition. It’s also a good option if you don’t want to deal with the hassle of repairs, cleaning, and staging. If you’re facing a financial hardship or foreclosure, selling to a cash home investor can provide you with cash at closing to alleviate the situation.
When to Consider a Traditional Home Sale
If you’re not in a rush to sell your vacant house and are looking for the highest possible sale price, a traditional home sale may be the better option. This method can also be a good option if you have time to invest in repairs and staging to make your property more marketable.
Both selling a vacant house to a cash home investor and through a traditional home sale have their advantages and disadvantages. Considering your unique situation and goals is essential before deciding which method to pursue. Consult a real estate professional to determine the best action.
If you need to sell a vacant house, we can help. As both a real estate brokerage and cash home investors, we can present you with all of the numbers for you to make the best decision for your situation. Fill out the form today to learn more. There is no obligation to take our offer, just great real estate advice.