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