8 Steps to Avoid Turning a Distressed Property into a Foreclosure

8 Steps to Avoid Turning a Distressed Property into a Foreclosure


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It is often the case that we find ourselves in a vicious cycle going towards doom and fail to understand how we can get out of the cycle. In Southern California, it is not unusual for distressed properties to turn into foreclosures, because people often feel helpless and cannot find a way to sell their property. We specialize in dealing with distressed properties, and here are 8 tips to make sure you don’t have to face the dread of a foreclosure:

Look for a good wholesaler

Sometimes, wholesalers see what others cannot, and invest in a property that is seemingly a bad decision. They do this because they realize the potential that property has regarding how it is built and what it is surrounded by. If you feel that no one is ready to buy your property because of issues that seem insignificant to you, it is quite possible that a wholesaler will share your view.

Find the right listings

Don’t waste money on listings that are irrelevant to the kind of estate you are trying to sell. Consult your broker and anyone else who has sold a property similar to yours and ask them what listings they placed their property on, and how successful each listing was. Prioritize, and then make an informed decision.

Make effective repairs

Sometimes you can make repairs that are inexpensive but completely change the outlook of your property. For example, fixing broken walls or lighting will not only make your property seem more appealing but may also give you the chance to increase your selling price. Aesthetics play a huge role in house-buying, bank on them!

Clean!

This is going to be very straightforward: no one is interested in a house that is dirty and has pungent odors. If you want to sell your property, make sure it is clean and welcoming. Odors and dirtiness are distractions, remove them!

Find a better broker

Sometimes the problem lies less in the property itself and more in your broker. Brokers, albeit experienced, may have other priorities or may not be able to cater to your demands. It doesn’t hurt to find a new broker.

Make visitors comfortable

Buying houses is largely an emotional decision, and positive emotions are more likely to be induced if visitors are comfortable and see the house as a potential home. Make sure that there is a coziness to your home, and make sure that personalization is at a minimum so that visitors can perceive the house as their new home.

Develop trust

Be open and expressive when dealing with potential buyers— if they trust you, they are more likely to want to buy your property. Remember, this is an emotional decision!

Don’t give up!

It may seem difficult and very emotionally grueling, but trust us, properties worse than yours have been sold. Basic tweaks may be the key to selling your property, don’t give up!

If you are very serious about selling your property, you will undertake all means necessary. At Golden State Property Buyers, we deal with owners looking to sell fast and specialize in distressed properties; try giving us a call!

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