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Buying or Selling a Home/selling a home via auction
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Question
I am going through a realtor right now to sell my mom's home without much luck. It has been on the market since last October. I was wondering if auctioning off her house would be better? And if so, how do I go about doing so?
Dear Ginger;
The first suggestion I would make is for you to discuss with the REALTOR why the home hasn't sold. Is it priced too high? Last October the market was still strong in most areas so I am a bit surprised that the home didn't sell. However, if there are some issues such as the floor plan, condition of the home, or other factors that would keep buyers away then you need to make adjustments, changes and enhancements. If it is location or neighborhood then a lower price might help make the purchase more desirable. (Every home has a price that will attract buyers.) I am sure that you know all the reasons that the home has not sold. If you have done everything that you can do (or wish to do) to sell the home then an auction may be the best choice. You will need to decide how little you are willing to accept for the home. If you decide to auction it at that minimum bid price then you might also first try to lower the price on the listing for a month or two before it goes to auction. Once you do decide to auction the home, you should ask your agent for names of real estate auctioneers and then begin to call and interview these companies. They will explain the procedure to you and you can decide if that is what you want to do.
Good luck.
Jessica Bryan
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Jessica Bryan
Expertise
buying and selling process such as:
General questions from first time buyers
How to market a home
Why choose a REALTOR
How do I find a REALTOR
Should I consider buying or selling without a REALTOR--how much can I save
Should I remodel or move
How much can I expect to gain by fixing up my home before selling
Helpful tips when selling
Helpful tips when buying
finding a good mortgage loan
what is the difference between banks, mortgage bankers, and mortgage brokers
Questions from the general public, people thinking about getting their real estate license, newly licensed.
Fellow professionals who have interests in networking and how to get started
What is a market evaluation and how does it differ from an appraisal what are the different loan programs
services a REALTOR can perform
when to use a lawyer
when to use escrow
what are the regional differences in the buying and selling process
what is the MLS and how does it work
how can the layman access information on the web--listings and other information
These are just a few of the questions. I can suggest that if I am unable to answer a question I will refer the inquiry to a source that can.
Experience
Anyone who is in this business and who dedicates oneself to professionalism has continued to take classes and along with it,additional credentials, awards and honors. I can list a host of them, but my greatest accomplishments happen to be those of getting first time buyers (who didn't think they could afford to buy a home)into a home of their dreams. The look on their faces when I hand over the keys is worth all of the hard work.
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