Home Selling in New Jersey>Question Details

Danielle, Home Owner in New Jersey

Help-- How can we sell fixer-upper home FAST and AS IS? Anyone used 800-SELL-FAST?

Asked by Danielle, New Jersey Sat Aug 27, 2011

We inherited NJ home and considered renting it out. But we've found that there are extensive repairs that need to be done. We can't afford the time or money to do it ourselves. Home is currently vacant, mortgage paid off, and market value is higher than original purchase price.

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Our circumstances have changed (for the better) and no longer need to find someone to sell it. I'm keeping this question up because of the great answers that could help someone out in similar situation.
1 vote Thank Flag Link Sat Sep 17, 2011
Hi Danielle,
The best way to sell a house fast is to list it with a local Realtor and price it below the competition! Even as much as 10% lower will generate a lot of interest and usually bring in multiple offers. Then, you get to choose the best deal (which might not always be the highest number.)
Good luck!
Web Reference: http://www.dianeglander.com
1 vote Thank Flag Link Mon Aug 29, 2011
Danielle,

I suggest that you contact a local real estate agent to make sure you get the best money. You can find an agent by checking out the following sites:

Certified Residential Specialist: http://www.crs.com/About_CRS/56
Graduate Realtor Institute: http://www.realtor.org/education/gri/value

Agents on these sites have extra education in representing clients in Residential property. It also shows a dedication to their business and their clients.

Once you have found a few agents on these sites that service your area then I would Google them, search online review sites like Yelp, Trulia, Zillow etc for reviews from past clients and see what they have to say. It is very important that your listing agent have a good up to date web presence! More than 85% of buyers find their home online first these days, so you want to make sure that your agent knows how to effectively market your property online.

Once you have narrowed down the agents to a few, you can call them and set up a time to interview them, at the subject property. During the interview you should ask them about their marketing plan, where will they advertise your home, do they do open houses (might not be relevant for your home that needs work), what their pricing strategy is (not their opinion of your homes value).

You can see a full list of questions we reccommend to ask when hiring a listing agent on my website at:
http://www.circadianrealty.com/selling-my-home/questions-to-…

Let them tour your home and go back to their office to perform a CMA before giving you a price. If it is an agent that works in your neighborhood or township often, they might know of the top of their head.

And most importantly, if you do not get a good vibe and feel comfortable with them, then you probably shouldnt hire them. It is important to connect with your agent, you need to trust them and their expertise to be successful in a real estate transaction. Make sure the agent is comfortable asking your questions and does not seem in a rush. Whether they are working with 3 clients or 30 at a time, you should feel like you are the only one!

Lastly, what is their fee, and is there any additional fees their brokerage will charge? You get what you pay for, hopefully, so don't just go with a discount broker to save money. it could end up costing you. Go with the agent that will do the most for your property and seems invested in the outcome.
1 vote Thank Flag Link Sat Aug 27, 2011
Danielle,

Your best bet is to contact an agent in the area where the house is located and let them tell you what its worth and what price point to get it sold as quickly as possible. In some areas the market is bombarded with fixer uppers due to many foreclosures and the house may not sell as quick as you would like it to. In other areas they may not be as bad and a fixer upper in a stable neighborhood may peak lots of interest and sell quickly.

Good luck and contact a local agent in the town and/or county that the house is located in.

Gina Chirico, Sales Associate
Lattimer Realty
Gina@GinaChiricoRealEstate.com
1 vote Thank Flag Link Sat Aug 27, 2011
Thank you for all your responses. Sounds like the consensus is to find a local real estate agent to work with.

The property is in Ewing Township. If you know of anyone we can interview with that are experts in this area and know it inside and out, please let me know.

I'll pose this as a separate question too.
0 votes Thank Flag Link Mon Aug 29, 2011
I am sorry to hear of your loss, in Ocean County this happens a lot. More often than not being a long distance landlord is nothing but trouble. I would recommend you interview 3 FULL TIME Realtors and see who can price it right and market it aggressively. If you need the names of some good agents in that area of the state, i would be happy to send you contact information. Best of luck to you.
0 votes Thank Flag Link Sat Aug 27, 2011
Price it right and hire a full service real estate agency
0 votes Thank Flag Link Sat Aug 27, 2011
Contact a local agent. And the most important thing you can do is PRICE YOUR HOME RIGHT taking into consideration any repairs that have to be done. Good Luck.
Web Reference: http://www.tommaher.com
0 votes Thank Flag Link Sat Aug 27, 2011
What ingredients do you think will make the house sell FAST?
You've recognized that it is a FIXER and indicated that you do not want to do the work.
Do you think a company that LIST it on an MLS and sticks a sign in your front yard and walks away, is doing a FAST job?
I would recommend the combination of a good Realtor and an agressive LISTING price would do the trick; but understand what I mean by an agressive LIST:

Understand that the LISTING PRICE has one primary objective, to attract attention: It is not intended to be set in stone, and in many cases it is not even a good guideline toward the SELLING PRICE.

Some Sellers believe that by setting the LISTING PRICE high, they can always come down, and people will make an offer anyway: WRONG! Buyers will just bypass the property and look at houses that are within their price range. And six months from now, the Seller will slowly start lowering the PRICE, (this is called “chasing the curve”) and Buyers will be asking the question; “What’s wrong with that house?” and “Why has it been on the Market so long?”

Other Sellers set the LISTING PRICE low, to attract multiple offers. (The correct strategy.) We are asked; “Aren’t you obligated to sell at this price if someone offers it?” The answer is probably not; for that to happen, you would first have to have only one offer, and secondly, the offer would have be exactly the same, down to the smallest detail, (please discuss this with your Realtor).
Another thought; Buyer will search for potential properties by groups; for example, $400,000 to $450,000, and $250,000 to $300,000. If your house is priced at $460,000 or $310,000, the Buyers will never see it. (something else to discuss with your Agent.)

Different Banks have different philosophies about pricing their properties: You cannot draw any conclusions without a good analysis.

Have your Realtor do a CMA, (Comparative Market Analysis) to help you determine your Offering Price. If you look at enough CMA’s, you will see the trends.

Good luck and may God bless
0 votes Thank Flag Link Sat Aug 27, 2011
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