Wednesday, November 26, 2008

Sell your house fast - Investor

Selling your house fast as an investor is done really in two ways: 1) Price or 2) Terms. Everything else I tell you here will be based on these two ideas and in this market you may need both to sell really fast.

Of course marketing is the key. Here is a list of the following things we do to attract a buyer:
1. Sign in yard (obviously, let the neighbors know you are selling)
2. Fliers to 500 houses in the neighborhood (stats say your buy will live in same neighborhood)
3. List on (hey it's free)
4. Have a buy/sell website (a must if you are going to stay in business)
5. Newspaper AD
6. Keep all contacts from other ads to create a buyer's list for future properties

You must stand out from the crowd with your price or terms to sell a property. You have to get a buyer, who has a lot of choices, to look at your property to buy it. We try to sell at 85 - 90% of market value to get a retail buyer when we need to sell quickly and need all our money. If we can wait we can sell at 100% of market with terms to help the buyer buy the house. Our "Owner financing with 5% down and no bank qualify" program is a very popular. We have a lot of people who can not qualify for a bank loan but can make the payment. We change this formula a little bit depending on the shape of the house. The prettier the house the more you can get for it. So we balance how much we spend on the rehab of the property against the price the property will bring.

By far the best way to sell a house in today's environment is to be flexible in the price and terms. That will leave you the most options you can provide to the buyer. Good Luck.

See Ya,

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