I have a gutted house and would like to sell to an investor. Where do I start? How do I find people who are buying houses for this purpose?

Asked by Panda, 23226 Thu Oct 6, 2011

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Tim Moore’s answer
Tim Moore, Agent, Kitty Hawk, NC
Thu Oct 6, 2011
You don't find buyers, you find a Realtor to list the property and derive the value in its current condition. The Realtor then finds buyers for you by entering the listing in the MLS system where thousands of other agents will see it and send it to their buyers. The listing also finds it way to sites like Trulia, Zillow, Realtor.com, and 10,000 other websites where buyers can find it. That's how you sell it.
1 vote
Turtle Prope…, , Richmond, VA
Fri Oct 7, 2011
There are plenty of investors who can purchase you home without the need of sn agent. I am a local investor. I buy house from homeowners prior to getting on the MLS. Talk with several investors and get several prices. Then talk to several realtors and get them to give you a price that they guarantee to sell you home for. Make them sign something saying that if they can sell it at that price then they will buy it from you. That's fair.

Like I said I buy homes. I would give ypu a written document outlining my offer. I see you are in 23226. My most recent house was in 23225. Off Warwick near Whitehead. I am a legit investor in ypu area. I also have a network of local investors. If I can't help you I can introduce you to them.
1 vote
Austin Karve…, Agent, Mechanicsville, VA
Mon Dec 29, 2014
I understand if you dont want to use a realtor in this situation even though I would love your business. Do you attend any of the RING meetings or RHEA(?) RING meets monthly on first Thursday I believe at Aloft in Short Pump. Attend the meeting and I am sure you can get it sold that night.

Good Luck!
0 votes
Charlotte Sh…, Agent, Richmond, VA
Mon Mar 4, 2013
I would list the house in MLS. Agents work with investors/buyers that would be happy to finish the job. There are some great renovation loan programs that more and more buyers are using so they can make the house "just right" for them.
0 votes
Gina Gallon, Both Buyer And Seller, Atlanta, GA
Wed Aug 8, 2012
Looking for investment properties. Is your home still available? You may email me at reginalynngallon@gmail.com
0 votes
Lee Ann Ruby, Agent, Glen Allen, VA
Wed Dec 28, 2011
Whether you are trying to reach investors, 1st time buyers, move-up buyers, etc. it's all about utilizing a professional who knows how to develop a fully integrated marketing strategy that will target the right buyer. It's not about a cookie cutter listing plan.
0 votes
Debbie Welch, Agent, Richmond, VA
Sat Dec 10, 2011
Ideally you would have considered all of this before you gutted a house or bought a gutted house. Whatever the scenario, Planning and study of market conditions should be your first step. Trying to avoid using a professional often lands someone in a situation where they are not sure what to do. A good real estate professional will be an attribute regardless if you are an investor and have done this numerous times. It only takes one mistake to eat up a lot of smart moves.
0 votes
Blakeley Pro…, Agent, Richmond, VA
Sun Nov 27, 2011
Start by pricing it accurately. Look at what it would sell for finished ( around 120k if you are selling the house I think, ending in 18). Deduct the price of fixing it up, selling expenses, and profit for the investor. If the investor can't make a profit, they won't want to buy your house.

If the house will sell for 120k, and the investor expects to put in 70k, they are unlikely to pay more than 30k for the house.

If you think this is wrong, get a bid on redoing it, and develop it yourself....
0 votes
Stephanie Se…, Agent, Richmond, VA
Sat Nov 19, 2011
Good Question

Please start with a local licensed Real Estate Consultant specializing in the Richmond, Virginia Real Estate Market.

Richmond is offering a Wonderful tax program and you really should understand your options clearly before deciding whether renting the property, finishing the repairs and selling or selling as is.

You really do need someone familiar with the market to advise you and look out for your best interest.

Stephanie Sellers
Real Estate Consultant
Coldwell Banker Virginia Colony
0 votes
T S, Agent, Richmond, VA
Wed Nov 2, 2011
Be wary of so-called investors who approach you if you are not represented by an agent. Do not sign anything they give you without legal advice. There are horror stories out there!

Also, only a licensed real estate agent can sell property in VA unless they are the actual owner. Be wary of anyone who tries to take over any mortgage and rental payments and offers to sell it for you as a guarantee!
0 votes
The Stephen…, Agent, Portland, OR
Thu Oct 6, 2011
Investors check the local MLS all the time. I would find an agent and sell it just like any other property. Try to find an agent who also has a lot of investor contacts as a bonus.
0 votes
Stephen, Home Buyer, Richmond, VA
Thu Oct 6, 2011
I am an investor in the Richmond area. I would be interested in knowing more details about the property. Please email me the address and the your asking price as well as any other helpful information in regards to the property to bey_properties@yahoo.com. Thanks.
0 votes
Mike Sullivan, Agent, Gainesville, FL
Thu Oct 6, 2011
Investors are plentiful.....savvy investors work with a realtor, as they know that realtors generally are the first to know of properties coming on the market, and can help in determining the value of the property. My suggestion would be to talk to a realtor and see what kind of a marketing plan they have for you home.....exposure is the key to a successful sale....MLS, Realtor.com, zillow, trulia are but just a few websites..you want to be on them all!

Hope this helps...good luck with the sale of the property
0 votes
Shelly Sierr…, Agent, Southlake, TX
Thu Oct 6, 2011
You can try to market the home on your home,, i.e. put sign in yard, post on Craigslist, but the best way to get your home out to potential buyers is to list it with a Realtor who will, like Tim said, get it listed on the MLS for maximum exposure to other agents that may have a client looking for that specific type of home, and your home will be found on all the other various websites where the general public are looking as well as agents.
0 votes
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