Ajh522, Home Seller in Jefferson Chalmers,...

I would like to find out how to sell a vacant and distressed property. What is the best way?

Asked by Ajh522, Jefferson Chalmers, Detroit, MI Sun Jun 6, 2010

I own a property that has been vacant for sometime and would like to sell the property or give it back to the bank. I have been contemplating what to do with this property. It is structurally sound but has been vandalized. Do you have a suggestion or a Realtor for this task? What would be the steps to negotiate with our lender?

Help the community by answering this question:

Answers

8
There are many investors in Detroit, like myself, that will cash you out of a distressed property. If you feel comfortable giving me the address, I'll scoot by and give it a look. Send me an email with the details kevin@firstcapitalresource.com
0 votes Thank Flag Link Thu Jan 8, 2015
AJh...sorry to learn of your situation, but you find yourself as so many others do.....a short sale is an option, but you must demonstrate a genuine 'hardship' to qualify. Agents with the CDPE designation are going to be the ones most familiar with this process. Another option would be a 'deed in lieu' of foreclosure, where you just give the property back to the bank. Best to know if your state is a recourse or non recourse state. I would suggest you consult with both a realtor and a real estate attorney to discuss the specifics of your situation. Hope this helps!
0 votes Thank Flag Link Tue Apr 10, 2012
There are many ways to do this. I would first try and add the liksting on Trulia. If that doesnt work for you or you dont have enough time to do this on your own you can contact me and i will put you in contact with one of the agents i use to when selling my proeprties wholesale.

tom@mtadg.com
0 votes Thank Flag Link Tue Apr 10, 2012
It will depend on what you owe on the property.
You have a couple of options.
If you're not currently working with a Realtor please contact me.
0 votes Thank Flag Link Wed Mar 21, 2012
Jefferson, do check the foreclosure status of your property. Then if u have enough time do a short sale, this will save your credit for a foreclosure in that case u could loose other 200+ points.
82% of home buyers today search the internet for their home purchase, so online is thee best way.
Good Luck
0 votes Thank Flag Link Sat Jun 12, 2010
I am a real estate broker in the Detroit area. Just where is your property located? I can be reached at (313) 401-9956.
0 votes Thank Flag Link Wed Jun 9, 2010
I am a pre-foreclosure and short sale specialist, and would be happy to connect you with a proven professional in your area complete with the latest in training and credentials in distressed properties.

Please email me at Derek@DoorToDreams.com, or send me a message through my Trulia profile.

Thanks
Derek
Web Reference: http://DoorToDreams.com
0 votes Thank Flag Link Mon Jun 7, 2010
Ajh,
I'm sorry for the difficulty you've had with your property. You need to find an agent with experience dealing with Short Sales. They will market the property and either negotiate with your bank for your or arrange a short sale negotiator.
A short sale will affect your credit, so you'll want to investigate and understand all of the ramifications, but typically it is less damaging than a foreclosure which you are also contemplating. If you need a referral to an agent with experience doing short sales, let me know. Best of luck.
0 votes Thank Flag Link Sun Jun 6, 2010
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer