As you can see there are alternatives. You can give the homes away at a low price, the buyer needs to make money also. Or you can follow the tried and true method of asking three experienced full time agents set down with you and ask each to come up with what they fell is the best plan for your situation. In addition to the standard list and sell. I have contracted as well as made the repairs on homes for clients and we both made more than a simple list and sell. Also I have bought homes from sellers and we shared the equity when I sold the final product. The best way for you depends on how much work is needed and many other factors can also play. When you are ready to share the details I would like to be one of the three agents and offer you a plan that makes sense.
Benny Smith, 412-498-7868.
Or visit http://cashoutmyhome.com
I concur with the answers you have already received and I think you have had them provide excellent advice, but I will go one step further. Many buyers are not aware of a rehab loan, such as the 203k program offered thru Bank of America, and I believe Huntingdon Bank offers a similar property. Basically the buyers mortgage the sale price of the home and include in it the cost of repairs/updates, which BOA will have to support the estimates. So if you sell as-is, buyers can become interested in it even without a lot of capital upfront. It should be marketed as such with buyers knowing different ways of financing.
I hope this is helpful, but when I market a property that I think needs some work, I like to include that tidbit of information!
Re/Max Renaissance Realty West
Moon Township, Pa
Most of us who are active agents have " investor" style clients who are used to purchasing homes that are in every kind of possible condition! they will usually be flipped for resale or rented. The clients that I deal with may be interested in 1 or all of the homes in question. It is all determined by what you think they are worth versus what an investor is going to offer you based on the location and the amount of work that is needed etc...
There is a market for everything!
There is certainly a market for homes in the area, and various stages of repair is generally acceptable to a lot of buyers looking for something to invest in. The best way to judge how likely your homes are to sell (at a price you are comfortable with) is to meet with a real estate agent familiar with activity in the area. We can do a market analysis for you to show you what is currently on the market and what has sold recently that is comparable to what you are working with.
Thanks to the belief that forclosures are a great way to buy and create equity, there are those looking for fixer uppers that can produce rental income. Also first time home buyers quickly learn that in Pittsburgh prices have maintained and in most of our neighborhoods we are at prices greater than thery were in 2007. In short yes there is a market for fixer uppers in Pittsburghs North Side
Depending on location and condition, there is always a market--even if the home is in bad shape, if priced right, some people are willing to take on a project.
You can reach me any time by cell if you have any further questions/comments @ 724-316-6914 or e-mail @ firstname.lastname@example.org