October 11, 2014
A property that is planned to be sold at lower than market value is called a distressed property, “Distress†to a property can be caused by many reasons, chief being lack of timely mortgage payments, but there are other situations as well that can turn a regular property into a distressed properties.
With Divorce rates at an all time high small couple homes are put up on the market for sale quite frequently, if the real estate is co owned by both the partners, when the split finally happens, usually the owners are prompted to sell the property at lower than market rates to get rid of the property simply for personal or possibly financial reasons.
Death is another unfortunate event that can cause a property to become distressed, if a house is co owned and both members contribute to the mortgage, it might not be possible for a single member to be able to continue payments on their own,
In some cases the surviving member of the family is the mortgage owner of the property, but due to emotional reasons they are unable to cope with living in the same place and simply wish to sell, at moments like this people usually put up the property for sale at lower than market rates so they can get out fast.
Properties with maintenance issues or severe redesign, or the necessity of a homeowner to move to another city for job related purpose can be any of the other reason a property might be possibly listed to be sold at lower than market rates.
If there is any chance that you fall in any of the above categories, don’t fear, you don’t need to sell your house for a bargain, instead of listing property simply for sale, track down real estate investors who can take care of your properties at nominal rates.
Investors usually either plan on renovations before sale so they end up selling homes at better end value; also investors usually offer cash sale solutions as well.
Home buying transactions with real estate investors can be essentially completed within days of contact, and offers are generally appealing enough for home owners that they decide to sell as soon as they get an offer.
The benefit with selling to real estate investors is that they buy properties “AS IS†without asking you to do any additional modifications or repairs.
Compared to individual families who wish to move into a distressed home because they can’t afford to buy a new one, or independent business owners who drive a hard bargain and get you to sell way below your asking price by haggling and pestering you, investors don’t waste your time, make clear offers and once you accept take care of almost all the paperwork.
For people who want to get rid of their property and find the best reasonable value in the shortest time possible with a very easy payout, real estate investment companies are the best bet in getting rid of your distressed property.