It's Not Impossible To Sell That Home. | Dover

Avoid Distressed Home Pitfalls With Us!

For sellers in possession of distressed homes, making the sale can prove an extremely challenging process. These homes often take much longer to attract interested buyers, who prefer a home free of the issues that cause a home to be considered distressed such as financial entanglements and foundational damage. We offer these motivated sellers a convenient resource for getting fair market value for their distressed home.

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Delayed Sale

The issues that cause a home to be declared distressed are most frequently discovered during inspection, just as a seller is making plans to move or a buyer is seriously considering a purchase. Some sellers choose to delay their sale until repairs are complete, but in most cases this leads to an investment of thousands of dollars and months if not years of time while the house is prepared for the open market.

You can sell your home today. | Dover

Extended Timeframe

Owners of homes considered distressed also regularly underestimate the length of time it will take for the home to make the improvements that help attract seriously interested buyers on the open market. Even basic repairs to common infrastructure issues such as roof damage and plumbing problems can take months to complete, and any legal difficulties surrounding the property are sure to be a deal breaker for most buyers.

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Extreme Circumstances

Homes can even become distressed due to factors well beyond the control of the homeowner. In the case of uninhabited properties, squatters sometimes take up residence to make most real estate and renovation operations difficult or impossible. Tenants can even do intentional damage to the property after learning of an impending sale, adding costly repairs to the expense of a sale through traditional means

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Must Sell We Buy Your Dover Home Quickly Video

 

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Information for Dover, Delaware

Dover, city, capital (1777) of Delaware, U.S., seat of Kent county, in the east-central portion of the state on the St. Jones River. It was laid out in 1717 around an existing county courthouse and jail on the order (1683) of William Penn and was named for the English city. Dover was incorporated as a town in 1829 and as a city in 1929. Colonial buildings clustered around the Green include the Old State House (1792), which served as the capitol until 1933 when the main state offices were transferred to nearby Legislative Hall. King Charles II's royal grant and William Penn's deeds to Delaware (1682) from James, duke of York (later King James II), are displayed in the Hall of Records. The boyhood home (1740) of John Dickinson, 'penman of the Revolution, ' is preserved. The Delaware State Museum sites in Dover include Meeting House Gallery I, which occupies a former Presbyterian church (1790).Legislative Hall, keystone of the capitol buildings group, Dover, Delaware. Milt and Joan Mann/CameraMann International Dover is a state government and farm trade centre with some light industries. It is the seat of Delaware State University (1891) and Wesley College (1873). Dover Air Force Base, established during World War II, is the principal air cargo terminal for the Air Mobility Command. The Delaware Agricultural Museum and Village is 2 miles (3 km) north of the city centre. Pop. (2000) 32, 135; (2010) 36, 047.

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Dover - It's Not Impossible To Sell That Home. Articles

Distressed Properties FAQs

What are Distressed Properties?
In real estate, if a homeowner suffers from financial problems, which render him unable to meet his monthly mortgage obligations, he is said to be in distress and the home is referred to as a Distressed Property. Based on the stage of foreclosure the property is in, it can be classified as a pre-foreclosure, foreclosure at auction or a bank owned home/repo home.

For more information, simply check our What are Distressed Properties? page.

How to buy distressed properties?
Buying distressed homes is simple enough. You only need to determine where in the stage of foreclosure is your entry point and understand what is involved in purchasing these properties. Each stage will require a different approach, so it is also crucial you do your homework even before you search for the perfect distressed property.

To help you make sure your purchase is a success, check out the How to Buy Distressed Properties page.

How to invest in distressed properties?
Considering the impressive profit potential offered by distressed properties, it is not surprising buyers are presented with numerous investment opportunities. You will find investing in these distressed homes is quite lucrative. Of course, in order to maximize the said potential, you have to make sure you know and understand what is involved in each of these opportunities.

You can refer to the Guide in Investing in Distressed Properties for more information.

How to find distressed properties?
When it comes to finding distressed properties, there are actually several ways to do so. You can choose to go the traditional route and search neighborhoods or scan classified ads in newspapers. But there is actually a more efficient and convenient way - there are distribution centers.

We offer a large selection of distressed houses for sale, including pre foreclosures, foreclosures at auction and bank owned properties located in all 50 US states. You will have easy access to all relevant information pertaining to these homes with just a few clicks in your computer. Finding the best deal on a distressed property which meets your budget and preferences will always be hassle-free.

Is there a specific type of distressed properties which is more profitable to invest in?
You will be pleased to know that despite the many types of distressed properties, all of them promise to be profitable. Your choice will simply have to depend on your resources and needs. Since each type of distressed home offers their own advantages, you have to determine which type you are comfortable of buying and eventually owning.

Are distressed homes always sold as is?
In general, distressed properties are sold as is. For this reason, you have to conduct a thorough inspection of the property to see the extent of repair work needed. Hiring a professional inspector is strongly recommended. In few cases, the seller will agree to agree to shoulder the repair cost as long as they are minimal. It is really a matter of knowing exactly what you are buying and negotiating with the seller.

What Are Handyman Specials?
Distressed properties which require extensive repair are usually referred to as Handyman Specials. They are usually sold at very low prices since the buyer will have to spend much on repair and renovation. It is important you know exactly how much it would cost you to have the property fixed up to estimate your potential profit. You can do so by working with an experienced and professional contractor.

What are Fixer Upper Homes?
These distressed properties - as their name suggest - requires fixing up. Investors consider these properties as the perfect choice for flipping since they can be bought for a fraction of their market values. Obviously, you will have to order a thorough home inspection to determine how much it will cost you to repair the property. Once they have been repaired and renovated, they can be sold for considerable profit, which is why many real estate investors consider them gold mines.

What do I need to get started with distressed homes investing?
To get you started on your distressed homes investing, you will need to educate yourself about everything there is to know about properties in distress from buying to cashing in on your investment. Of course, you have to understand your success will be greatly dependent on finding the best deals.




 


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