Seller Information

Selling a home in our market can be difficult.  In 2009 over 50% of the homes that sold were either Bank Owned homes or Short Sales; in other words, distressed properties.  Another large percentage of the sold homes were former distressed properties where an investor picked them up for a song, fixed them and flipped them.  These homes were aggressively priced, thus attracting most of the available buyers.

Buying a distressed property is not as easy as it may seem.  They are all sold “AS IS.”  That means that the buyer has to pay for all of the inspections and all of the necessary repair work. Often this has to be done before a lender will fund a loan for the property.  Most of these sellers make the buyer sign a lengthy disclosure document absolving the seller of almost anything and making it extremely difficult for a buyer to sue those sellers for cause.

We are not talking about a level playing field.  If a regular homeowner, one who has lived in their home for several years, wants to sell their home they have to compete with similar distressed homes in their area.  That usually means lower prices.

The flip side is that the regular seller does have some advantages, even in this market.  They live in the property and know what has happened there are what the problems are.  Their Realtor will advise them to disclose any problems before the sale is completed so the condition of the home is known.  The buyer does not have to guess or take a chance on the unknown.  Most sellers will also work with a buyer paying for some inspection or repair costs.  So the buyer is not facing a brick wall.

From the buyer’s perspective they are much better off purchasing a home from a regular seller, someone with who they can work and someone who can take the guess work out of buying a home.

We will include posts with information and tips for sellers in our Blog. This information is designed to help sellers and prospective sellers navigate the complex process of selling their home.  Those posts can be found on our web site under Seller Information on the Buyers & Sellers page.

Feel free to call or e-mail with questions.  We are here to help.

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