Good article on selling the `ol family home. Other houses are selling, yours isn’t – but why ?
At this point I’ll switch to a quote from the MI Assoc of Realtors magazine article: “….“See, it’s like this,” he says. “The house looks as if the Brady Bunch still lives here.” What he means is, the house hasn’t been updated since you and your siblings have moved out….”
If you haven’t heard it a million times:
- Neutral colors
- NO personal items on the counters/tables/walls
- Front door has fresh paint and lockset
- Bath and kitchen are updated
- Any storage areas 60% occupied at max
- Mow lawn/ wack down the shrubs/ fresh mulch/ and flowers
- Clean clean clean clean
Option #2: Empty the house of all but a minimal amount of furniture and discount it by 30-40% and let the buyers make the upgrades. Caution, the house still needs to be clean and mostly empty so they can easily evaluate or prepare to discount even further.
Often there are some seemingly good deals you may see either in the MLS ( Realtor.com ) or on HUDHomestore.com.
Sometimes they appear on one but not the other.
There are general guidelines:
- Most often the deed listed buyer must occupy for at at least 1 yr and cannot buy another for 2 yrs. subject to $250k fine and jail time.
- They are as is period. You pay to turn on/off utilities and rewinterize any plumbing inspection.
- Since they are as is – your min. $500 – 1000 deposit will not be returned.
- Bids are usually open for 10 days, then decided on daily for the next 5 days.
- At 15 days on market, there is a possibility for investors to bid.
For more reading: http://investfourmore.com/2013/04/06/owner-occupants-guide-to-purchasing-hud-homes/