Should I Sell My House at an Auction?

There are thousands of homes being auctioned off every month. These properties are bank owned, facing foreclosure, or distressed properties. Sometimes, home owners who want to sell the property quickly opted to sell it in an auction. Auction offers a fast and efficient way to sell but is it the right option for you?

As a home owner, when you sell your house at an auction, you will get the benefit of not having potential buyers snooping through the house for months only to find out that these potential buyers are just looking around.

In an auction, buyers are aware that they are bidding at a house that can be less than perfect. Most of the times, houses in an auction are sold as is, where it is, and in its present condition. The whole selling process can only take a few minutes with a maximum of 45 days to close.

Types of Real Estate Auction

Auction with Reserve – This type of auction allows the seller or agent to accept or reject any bid offer. For example, if the highest bid does not match with the seller’s reserve price, he has the right to decline the bid. This type of auction is sometimes a deterrent to buyers because they don’t have the assurance that they can purchase the house even if they offer the highest bid.

Minimum Bid Auction – A minimum price is predetermined by the seller and the auctioneer will only accept bids equal to or above the minimum reserve price.

Absolute Auction – In this type of auction, the house will be sold to the highest bidder regardless of the offered amount. Seller may or may not receive a fair market value offer to his property.

There are other options to sell a house quickly. One of the fastest ways is to sell to private investors. Private investors offer cash for your houses or any property, buy houses as is, and offers a fair price for your property.

Contact Lucas Properties today if you are ready to move your house.

DIY Guide to Land Selling

DIY Guide to Land Selling

For someone who is planning to sell a piece of land, you may want to know the pros and cons of doing it on your own instead of hiring an agent in the hopes that you will gain more by keeping all the profit and not paying the agent’s fee. Although this presents a risk, many owners choose the DIY way and have become successful.

To gain more, you have to be prepared to make little sacrifices. This means you have to spend time and energy to do the leg work that an agent is supposed to do.

DO YOUR RESEARCH

The first thing to do is familiarize yourself with the market conditions and know the ins and outs of real estate transactions. Make a list of the forms you need to gather and other paperwork in relation to land selling, contract signing, and closing. Legal documents such as insurance documents, land title, and records of appraisers could come in handy. Find out what similar properties are selling for and how long they have been on the market.

SET THE PRICE

Setting the price can make or break your sale. If the price is too high, you run the risk of scaring potential buyers away. If you price it too low, buyers will get suspicious and they’ll think that you are desperate to get rid of the land. This will encourage buyers to offer an even lower price which will do you no good.

ADVERTISE AND MARKET YOUR LAND

To find potential buyers, you need to give your property maximum exposure across a wide range of area. It will be impossible to sell if you are not going to advertise in venues that buyers will likely see. Identify your target market and focus on reaching that target by any means. Use your network connection may it be social network or job associations.

PRIVATE INVESTORS

Work with a private investor. Unlike realtors, they don’t ask for a commission. In fact, they offer a guaranteed sale at a guaranteed price. Private investors do not need financing thus closing will be within a few days time.

Need help? Contact Lucas Properties today.

Can I Sell My Apartment Without a Broker?

The answer is definitely a YES. Whether it is advisable or not depends on your situation. Majority, if not all, brokers will naturally say that it is better to use their services than sell the apartment by yourself. It may be true that they know more about the ins and outs of the real estate market but if you are willing to invest your time and effort, you will do well without a broker. The main advantage of not hiring a broker is that you can save the broker’s fee which is about 5-7% of the asking price. If you have decided that you will forego the broker, here are a few things you need to know.

Price your apartment competitively. Too little of an asking price will make you lose money on the deal; too high of an asking price will make your property go stale. The best advice when it comes to pricing the property is to have it appraised by experts. Check the local classifieds and directories or ask for direct referral to get a reputable appraiser.

Good advertising is the key to getting potential buyers. Brokers have a wide list of buyers not to mention their paid subscription to multiple listing sites. When you do your own advertising make sure that you cast a wider net. Do not limit yourself to one or two options. Do a research and enlist your property to as many listings as possible. Make use of the online presence as well as the local classifieds. Put a signage wherever you can, distribute flyers, and don’t forget the most basic advertising which is the word of mouth. Talk about your property for sale at work, at school, in the gym, in the grocery outlet and in the malls.

Prepare the basic information about your property such as location, price, nearest shopping center or transportation station, number of bedrooms, latest improvement and so on. Include photos of your house when you submit to classifieds and listings. Do not forget to include your contact details so potential buyers can reach out to you easily.

For a guaranteed sale at the smallest time possible with the least hassle, sell your apartment to private property investors. Lucas Properties LLC buys land, apartments, and commercial buildings with cash. As a private investor, Lucas Properties offers you a no hassle and obligation cash offer. In as little as 7 days, you can sure to have a closed deal.