Home Selling in 76114>Question Details

Sherri Squir…, Other/Just Looking in Arlington, TX

I need to find a realtor, who can help me sell a house that needs work and that's valued less than $50,000.

Asked by Sherri Squires Toon, Arlington, TX Sat Jan 28, 2012

My dad has been showing my house for the past 4-5 months. People like the price I'm asking, but "can't get the $ together" so he has been assuming it's because they can't get a loan due to the house's current state (previous Fannie Mae rehab/foreclosure, which my now ex-fiance had done some remodeling on for 1 year, but left other parts in disrepair and didn't get to the roof). Most all of the interested buyers are Hispanic and want to pay with cash or rent, they know the house needs work and can do the repair themselves. Other nearby houses, which are "finished throughout", are worth around $50,000. People have stood my dad up, so he's asking me to hire a local real estate specialist preferably one, who can speak Spanish to explain the FHA loans to the interested buyers. I bought the house for $27,000 in 2010 and sunk another $5,000 into it. I don't have money to sink into the house for any further repair. I'm currently unemployed and receiving public services. Please help.

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Dan Tabit’s answer
I'm sorry for your difficulties. In reality, FSBO's only get seen by a tiny portion of the buying public. Those who focus on them are hoping to save themselves the commissions, not help you save them.
What you have is a home that needs to be rehabbed and there are loans for that (FHA 203K), but you need to expose the home to the largest possible market to get the most possible buyer's and top dollar.
Talk to some local agent's who are successfully listing and selling homes around you. Have them list the home, put a key box on and publish the details in your local MLS. Agents with qualified buyers will handle the showings and it will be on display worldwide 24/7 until it sells.
You will need to price it to cover your expenses and your agent will be in the best position to advise what you may be able to get for it. Just don't be overly optimistic, price it to sell and move on.
1 vote Thank Flag Link Sat Jan 28, 2012
Hi Sherri,
I think the first question to ask is - How is the home currently being advertised? Is it listed in the Multiple Listing Service (MLS)? The MLS is a directory of properties for Real Estate Agents to market properties for Sellers and locate properties for Buyers. If it isn't listed yet, the property is missing out on far reaching exposure and a much greater pool of potential Buyers. These buyers may be represented by their own Real Estate Agents who can show the home without relying on your father. There are a couple of options to get your home listed in the MLS. Hire a traditional Realtor and compensate them with a commission upon the sale of the home. Hire a Flat Fee Real Estate Company to list your home for an upfront Flat Rate. If you are short on cash, it may be difficult to come up with the fee upfront but you could save a significant amount of money over paying a commission. Best of luck!

Tara Anthony
Director of Real Estate Marketing – New Option Realty
Office: 972.399.9639 | Fax: 972.212.5726 | Web: http://www.newoption.com
Web Reference: http://www.newoption.com/
0 votes Thank Flag Link Tue Feb 14, 2012
Your dad gave you a great suggestion. Interview a few Realtor's in your area. Call the local offices and ask for someone who is bilingual and familiar with the area. Since the home is not finished throughout there is a good chance that it isn't quite worth what your neighbor's homes are, but this does not mean that you can't sell. If the home is priced correctly it should sell and a Realtor is just the person who can help you through each step of the process!

It sounds like George would be a great person to hire since he is very familiar with the area!
0 votes Thank Flag Link Sun Feb 12, 2012
Give me a call. I used to live in Sansom Park and know the area well. My mom still lives on Terrace Trail. If priced right, anything will sell.

0 votes Thank Flag Link Sun Feb 12, 2012
Why not simply contact or walk into any local realty office(s); you can also locate some area agents under the find a pro tab.
0 votes Thank Flag Link Sat Jan 28, 2012
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