Looking to sell to an investor. Single family home-Carver area--need help--no agents--investors

Asked by Maria, Stafford, VA Wed Feb 22, 2012

We bought this property for 2 daughters attending college. It is a cute 3 BDRM, 1.5 bath home. Eat-in kitchen, living room, laundry room, on site parking--2 car. Alarm system, central air. Very close to campus and 95. Not looking to turn a profit. Just one clean sale. Great investment opportunity. Need help.

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arestempy’s answer
arestempy, Home Buyer, Richmond, VA
Thu Jan 31, 2013
Maria - I would like more info - I am not an agent. I am looking for property in that area for my daughter. Can you give me address and asking price? is there another way for me to be in touch with you?
0 votes
Anne Marie B…, Agent, Richmond, VA
Wed Jun 18, 2014
Have you sold the property yet?
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dave, , Lorton, VA
Sat May 17, 2014
I am interested can you send me details ?, thank you.
0 votes
Heather O'Su…, Agent, Henrico, NC
Fri Mar 2, 2012
Hi Maria, I specialize in working in the urban areas of Richmond. I've closed many investor transactions and have a great network of investors and agents in the area. If you choose to use the best marketing tool out there, a full time professional REALTOR, it will be the best real estate decision you will ever make. Feel free to call me anytime 804 514 3197. I'd be happy to work with you in this market to protect your investment and sell it at top dollar.
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Ann Mullikin, Agent, Glen Allen, VA
Fri Feb 24, 2012
I know the area your house is in. I have 2 investors who like to concentrate on VCU rental property. I realize you may not wish to involve an agent, but in this market many investors use agents to be the "eyes and ears" they may not have the time to be. shoot me an email or give me a call if you wish to discuss your options further.
0 votes
Maria, Home Buyer, Stafford, VA
Wed Feb 22, 2012
The property sits on Catherine Street in an area known as the Carver district. It is within walking distance of the VCU and less than a mile from MCV,
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Veronica Tay…, Agent, Richmond, VA
Wed Feb 22, 2012
I was just in the area today showing properties to a couple from Cumberland wanting something in the area for when they attend events here in Richmond. It would have been nice to show yours as well. Clay st, Leigh and Marshall.....Is your property near those streets?
0 votes
Don Tepper, Agent, Burke, VA
Wed Feb 22, 2012
Here's a link to real estate investment clubs in Virginia: http://www.creonline.com/va.html It's somewhat out of date, but may help.

Also, here's a link to a Virginia investor who's been active in the Stafford area: http://activerain.com/primocoach He's a good guy. Try him first.

And here's another Virginia investor I know: http://activerain.com/bbenita

Just recognize that you'll get less by selling to an investor than listing it with a Realtor. Annette's numbers are a bit off, but they give you a fairly good idea of what to expect.

Hope that helps.
0 votes
Carolyn Lidd…, Agent, Fredericksburg, VA
Wed Feb 22, 2012
Maria, I work with investors that want to purchase properties for rental income. This property may fit into their portfolio, but I will need additional information. I am in Stafford, so we can talk about this.

As for selling it yourself, you will first need to get an accurate fair market price for the home. Then calculate if you can sell this home and cover your expenses (with and without an agent). If it doesn't cover your costs, we can discuss your options.

You will need to market the home to get the word out. Get the word out to everyone possible, not just investors. Having a property but not marketing it, is like waiting for the white knight to arrive on his stallion to take the princess away (but no one knows the pricess even exists).

You will need to have a (safe) way to show the property. Do you want to leave it up to your two college age daughters to show the house to anyone who calls.....?????

Once you have an interested purchaser, you will need a way to determine if the purchaser is qualified or going to waste your time. Also, consider how you want to handle any contingencies the purchaser puts in the contract. (ie sale of previous home, home inspection, financing, appraisal, study period, etc.). How should the required inspections be handled? What is a fair and reasonable earnest money deposit? What if issues turn up at the home inspection or final walk-through, how should they be handled? What if they want a pre-occupancy agreement or if they want to do a rent-to-own option?

You need to have someone draw up a contract that protects you. Even if the purchaser brings one to you, you will need determine if it covers your interests appropriately as well. You can use an attorney, however, this is an added cost to the regular settlement charges.

Maria, I wish you the best of luck. Call me if I can be of assistance to you.

Carolyn Liddell, Broker
Sun Realty of Fredericksburg
Sun Property Management
licensed in the Commonwealth of Virginia
Web Reference:  http://www.suncompanies.biz
0 votes
Annette Law…, Agent, Palm Harbor, FL
Wed Feb 22, 2012
Investor purchase criteria
1. If 'Move-in' ready, purchase for 80% of investors calculated value.
2. If in need of cosmetics, purchase for 60% to 80% of investors calculated value.
3. If outdated or obsolete offer 40 to 60% of investors calculated value
4. If damaged, roof leak, deferred maintenance, settling issue, sinkhole, offer 20% of investors calculated value.

There must be something we don't know.
Some folks make decisions that truly are not the most beneficial to them.
0 votes
Elliott R. O…, Agent, McLean, VA
Wed Feb 22, 2012
Maria, I have a way to help bring more exposure to your property to hopefully find the right buyer for you. Please contact me at your convenience if you would like more details. Thank you and best wishes.

Elliott R. Oliva
Mortgage Banker
Stearns Lending
202.681.1636 direct
0 votes
Jimmy Benson, Agent, Richmond, VA
Wed Feb 22, 2012
Hi Maria - I have a client/investor coming from out of town this weekend to look at properties near VCU. Please call/email me so we can discuss your home - thanks, Jan

Jan Hoover, Realtor
Advance Realty Specialists
0 votes
Phil Rotondo, Agent, Melbourne, FL
Wed Feb 22, 2012
You're absolutely right.....you will need help w/o an agent.
Web Reference:  http://www.321property.com
0 votes
Tina Beasley, Agent, Saint Augustine, FL
Wed Feb 22, 2012

This site is for agents to market their properties on. You will reach very few investor buyers in this forum. If you decide to work with an agent to help you market this property, I am available to help you. Good luck!

Tina Beasley
Associate Broker
Envision Real Estate, LC
0 votes
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