If you’re wondering how to sell a distressed property in Augusta, we’re here to walk you through your options. Traditional listings often aren’t ideal for distressed properties as they typically don’t attract many buyers, take too long to sell, and can become costly for owners dealing with property issues.
Life can bring unexpected challenges, and sometimes homes fall into disrepair beyond what the owner can manage. Whether it’s due to a death, divorce, illness, job loss, or a forced relocation, these circumstances can leave homeowners seeking quick solutions.
Let’s explore the best options for selling a distressed property in Augusta.
Selling To An Investor
When considering how to sell a distressed property in Augusta, it’s important to recognize there are always two sides to every decision. One option is to work with a professional cash buyer. This route offers several benefits, particularly when it comes to speed. Cash sales can close quickly, allowing you to avoid the lengthy process of waiting for the right buyer.
With a cash buyer, the sale is typically as-is, meaning you won’t need to spend time or money on repairs. There’s no downtime, and you won’t be dealing with legal risks that often come with selling on your own. Plus, most professional buyers cover all closing costs, helping you save even more.
However, it’s important to note that since the cash buyer is taking on all the risks and offering these benefits, their offer may be lower than what you’d get on the open market. Be sure to do your research and carefully vet the buyer. Unfortunately, there are some unscrupulous buyers who may try to take advantage of your time or financial constraints.
Handle The Sale Yourself aka FSBO
Selling a distressed property in Augusta on your own might seem attractive because it gives you full control. You won’t have to pay agent or auctioneer fees, which can eat into your profits. If you’re well-versed in marketing and familiar with the legal aspects of selling, handling the sale yourself could save you money, even though it may require a significant time investment.
However, for those without experience in marketing or legal matters, selling independently can often lead to costly mistakes. Not only could you miss out on maximizing your profit, but you could also find yourself facing legal complications that are difficult to resolve, leaving you in a challenging situation.
Auctions
Property auctions often don’t live up to the dramatic prices seen in movies and TV shows. However, they do offer some benefits, such as avoiding the hassle of showing your property. Auctions also allow for a quick closing, typically within 30 to 40 days, and the property is sold as-is, so you won’t need to continue spending time and money on repairs or maintenance for your distressed property in Augusta.
While using a professional auctioneer can streamline the process, it comes with a significant fee—typically around 10 percent of the final purchase price. Depending on who pays this fee, it could either lower the overall bids or add extra costs if you’re responsible for it.
It’s important to remember that auctions come with no guarantees. You might face low attendance or increased competition if many properties are up for auction at once, which can result in lower bids than expected.
Regardless of the path you choose, it’s essential to make an informed decision by thoroughly understanding all of your options. If you’d like to learn more about how we can assist you in selling a distressed property in Augusta, feel free to reach out. Just call Home Buying Specialists today at 706-445-3964 or send us a message any time!