I have a property to sell....distressed...want to sell "as is".....will I do better selling at an auction, or listing and selling wholesale?

Asked by dotkaufman, Denver, CO Tue Apr 23, 2013

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17
Kasha Songer, Agent, Denver, CO
Tue Apr 23, 2013
If your broker states in the MLS that offers will be reviewed in 5 to 7 days. You are essentially creating an auction. Good luck.
1 vote
dotkaufman, Home Buyer, Denver, CO
Tue Apr 30, 2013
Thanks....that' s what I have been thinking.
0 votes
Ethan Besser, Agent, Englewood, CO
Tue Apr 30, 2013
An experienced realtor will be able to likely get you a better deal than you can at auction.
0 votes
Robert McGui…, Agent, Denver, CO
Thu Apr 25, 2013
DotKaufman,

Thanks for the clarification. In this market you can get as much on the MLS listing and more sometimes than the other alternative avenues. A lot depends on the location; but there are investors and owner occupants combing the market for homes that need some fixup. Some of them are also getting multiple offers and creating bidding wars. Let me know if I can help.

Robert McGuire ASR
Realtor/Consultant
Your Castle Real Estate
1776 S. Jackson St. #412
Denver CO 80210
Direct – 303-669-1246
http://rmcguire.yourcastle.org/
0 votes
dotkaufman, Home Buyer, Denver, CO
Tue Apr 23, 2013
The home is not "distressed", as in upside down....I own it outright...It is "distressed" in that it needs some work to make it attractive to live in.

Thanks for all of your feedback!
0 votes
Hello DotKaufman - I would suggest speaking to three agents; ask for a Current Market Analysis from each agent. Then compare what an experienced agent can "net" you vs what and auction house will do. I think you will find paying a Realtor to assist you in this market will put more money in your pocket with less effort/hassle than any other option. I would like to be one of the agents to interview with you for the job of selling your house.
Flag Wed Apr 24, 2013
Robert McGui…, Agent, Denver, CO
Tue Apr 23, 2013
Dotdaufman,

Good to see you here again. A lot depends on the condition of the distressed property that you have and where it is located. Depending on the location and demand, it may be worth more than you think in its current condition. These home sales are on a case by case basis and a quick viewing of the property and a CMA would be the only way to give you an intelligent answer to your question. Let me know if I can help you further. You may have more good options than you think.

Robert McGuire
Broker/Consultant
Your Castle Realestate
http://about.me/robertmcguire33
0 votes
Michael Turn…, , Denver, CO
Tue Apr 23, 2013
The term "as is" simply means that you will not be reducing the price of the property or agreeing to offer any cash for a potential buyer to repaint, replace or fix anything. If the property is not worth what you owe your lender, then it is distressed. I would recommend that you get an analysis of current market value before you make any decisions so that you can make an educated decision on what to do next.
Please call or email if I can assist you further.

Michael Turner
Lead Properties
720 300 0889
mturner@relogic.com
0 votes
Ronald Donner, , Denver, CO
Tue Apr 23, 2013
Dot,

It all depends on how you are using the term "distressed". As Bob commented below, do you owe more than the property is worth or does it need rehab? I am an investor in the Denver metro area and if you are interested in exploring your options, I would be happy to speak with you. If the outcome would be beneficial for us both I would pay cash and close quick. I can be reached at the number below.


Ron Donner
Marquee Properties, LLC
720-515-2289
0 votes
Bob Gordon, Agent, Boulder, CO
Tue Apr 23, 2013
Hello Dot, Is your home distressed? This is code for upside down. If that is the case, I recommend speaking with an experienced short sale expert. I have assisted two clients with HAFA short sales - where the seller (you) receives $3,000 at closing in a cash for keys program. Give me a call at 303-443-3334 to discuss your situation. I think you getting cash at closing to assist in your move, next home, whatever, is the most important factor in selling your house.
0 votes
Bill Donovan, Agent, Centennial, CO
Tue Apr 23, 2013
Where is it?
If it's in the South Metro Area, I have an investor that would probably buy it quickly.

I think putting "as is" in a listing will keep some people from looking at it. I don't care how good the market is right now; I still want more people looking at my properties than less.
When they do their inspection, they're going to ask you for stuff whether you say "as is" or not.
Just say no at that point. If they leave, somebody else will step up pretty quick.
You're in a pretty good position right now. Good Luck
0 votes
Tony & Karen…, Agent, Denver, CO
Tue Apr 23, 2013
Hello,

When you say "distressed", do you mean you'll need to sell it for less than you owe? If so, any sale would be contingent on the bank's approval.

If you simply mean you want a quick sale, in "as is" condition, but the bank wouldn't be involved (because you anticipate getting enough to pay off your loan - if you have one), then I'd love to hear more about your property and be able to take a look. I have cash buyers who could close in a matter of days.

Please call or email as soon as you can!

Thanks,
Tony
720-427-4836
0 votes
Chris Eisenh…, Agent, Broomfield, CO
Tue Apr 23, 2013
Hi Dot,

Let me know if you don't want to have to deal with an auction or going through the hassle of listing with an agent. I can take a look at the home and give you a cash offer, quick close at fair market value.

Chris Eisenhard
303-349-5035
0 votes
Sara Hockhal…, , Denver, CO
Tue Apr 23, 2013
I would talk with an experienced Short Sale agent. I would be happy to do an analysis for you. http://www.LiveCOLife.com.
0 votes
Tim Klein, Agent, Littleton, CO
Tue Apr 23, 2013
Dot,
List first via traditional methods. Auctions are more a backup plan.
0 votes
Kayla Okafor, Agent, Denver, CO
Tue Apr 23, 2013
Right now our market is very hot! I just listed a home on a Monday night which had 23 showings and 8 full price cash offers on Tuesday! Another property had 6 full price cash offers in one day. Both of those properties were "as is". You can do very well by listing a property rather than dealing with an auction. I'd be glad to discuss your situation with you and help you to sell your property. I look forward to hearing from you!
Kayla Okafor, MBA
Denver Real Estate Connection
Owner/Employing Broker
Ofc: 303-455-0244
drckayla@aol.com
0 votes
Ben Grisinger, Agent, Denver, CO
Tue Apr 23, 2013
A well priced property will likely bring in multiple offers in this market. I specialize in distressed property sales. I'd love the opportunity to show you why many sellers choose to list with me to sell fix-up homes.
Web Reference:  http://www.my5280homes.com
0 votes
Julie Reddin…, , Highlands Ranch, CO
Tue Apr 23, 2013
You can sell on the MLS and disclose as selling 'as is'. As its a hot market, I am sure there will be a lot of interested Buyers / Investors. Fix up properties are a hot commodity wherever you choose.
0 votes
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