Not every buyer will want to put hours of labor into their home before placing it on the market. This can be a challenge for the real estate professionals who are tasked with selling it as their seller wants to gain top dollar, but without making the necessary changes that buyers expect.
Work with what you have. Keep in mind, you are not attempting to hide or make the imperfections look perfect to the buyer. Instead, positioning it as an easy DIY project can attract the homeowners that do not mind a project in return for a little hard work. Depending on the amount of work that is required, it may also be a great property to market to flippers.
Manage the easy tasks. You can take some of the burden off of the buyer by managing the easier tasks. Cleaning up debris and leaves on the outside of the house and hiring someone to put a fresh coat of paint on the walls can make the task seem less daunting. Consider the resale value of each project and what it is worth to the overall cost of the house.
Just a couple of tips. If you have others, we’d love to hear them.
The Division of Real Estate recently issued this consumer advisory – “Take 5 to get wise and learn how to protect your real estate nest egg.”
Colorado residents owning a home for 20 years or more are being targeted for the equity in their property. An offer may include a cash transaction, a quick sale, no inspection, and the freedom to leave your problems behind.
In Colorado’s hot real estate market, a lot of homeowners might not know the market value of their property, which is what unscrupulous investors want. They are trying to drive down your property value with misleading and confusing information. Their goal is to make a profit by turning around and selling your property at true market value.
This can happen to anyone because people who perpetrate fraud are good at what they do – separating you from your money.
Protect your nest egg when considering an offer on your property:
- Go to www.dora.colorado.gov/dre to research licensed professionals.
- Go to your local county government website and look up property values for you and your neighbors.
Other tips to protect your nest egg when considering an offer include:
- Be wary if you weren’t thinking about selling.
- Always keep someone you trust in the loop.
- Do research on real estate brokers working in your neighborhood.
- Always seek legal advice.
- Know the value of your property and understand the motivations of why an investor wants to buy your property.
By taking a few steps you can protect your home, your finances and your future. If you have questions, please contact us.
The Colorado Division of Real Estate’s investigators were notified of recent instances of someone pretending to be a buyer and trying to bait and lure real estate brokers into meeting, under the pretext of wanting to look at homes for sale, and then acting inappropriately.
In one reported instance, the individual profiled and texted/emailed female brokers stating that he is a qualified buyer and forwards them a fake loan pre-qualification letter in order to get the broker to send him information and to set up a private meeting or home showing. It is important to not let your guard down at any time, even when it appears that a potential sale is coming your way.