Distress sale: Selling successfully even in difficult times

Regina and Fréderic are desperate. Two coronavirus lockdowns and somewhat unfortunate timing have driven them into insolvency. Now they can no longer service the loan installments for their home and have to sell it. As the two are under considerable time pressure, it's an emergency sale. Good advice seems expensive - but with the help of an experienced estate agent, they manage a minor miracle.

Two years ago, Regina and Fréderic set up their own fitness studio and invested a lot of money in it. Shortly after opening, they had to close again. They struggled for a long time, but after the second year of coronavirus-related restrictions, they were unable to get back on their feet. All that remained was insolvency, combined with a mountain of debt.

Together with Regina's children from her first marriage, the couple have lived in a spacious house with a garden, beautifully situated and fantastically furnished, for eleven years. The decision to sell their home was anything but easy for them. But it doesn't help: a quick sale and the highest possible proceeds - they currently see this as their only chance to free themselves from the oppressive burden of debt.

Do not risk foreclosure

But one Sale under time pressure, out of necessityharbors great dangers. Fortunately, Regina is immediately aware of this. If prospective buyers find out that it is a distress sale, they will try to push the price down. And what happens if documents relevant to the sale are not available in time? What if prospective buyers who are on fire at the viewing suddenly back out later or their creditworthiness proves to be insufficient?

Fréderic would rather look for potential buyers among his friends and "not spend money on an estate agent." But Regina convinces him: "Trying to do it on our own is too risky in our situation. If anything goes wrong, we're threatened with the Forced sale. Then we will no longer have any control and everything will only get worse."

A professional estate agent knows what to do

In their home town, the two find a renowned estate agent who immediately assures them that their emergency situation will be handled discreetly. With professional know-how, the estate agent approaches the marketing of Regina and Fréderic's house in the same way as any other sale. As a first step, she carries out an in-depth valuation of the property and sets an asking price in line with the market - a crucial prerequisite for a successful and speedy sale.

Next, the estate agent takes care of the necessary documents, creates high-quality photos and an exposé tailored to the target group. She also manages to arrange the viewing appointments in such a way that neither the increased attention of the neighbors nor the time and financial pressure Regina and Fréderic are under becomes the focus of the prospective buyers. It's all about the property. It is attractive, which leads to several solvent interested parties wanting to buy the house after a short time. One of the parties even offers more than the original asking price.

The purchase contract is quickly signed and sealed. Regina and Fréderic are relieved. Even after deducting the estate agent's commission, they are left with handsome proceeds. They can free themselves from most of their debts and can now look to the future with more optimism. Especially as, thanks to the estate agent, Fréderic had time to apply for a well-paid new job at the same time as selling the property. With success - it starts next month!

Do you need to sell your property quickly? Would you like to avoid potential buyers and neighbors finding out about your plight? Then contact us! We will support you professionally, reliably and discreetly.

Notes

For reasons of better readability, the generic masculine is used in this text. Female and other gender identities are explicitly included where this is necessary for the statement.

Legal notice: This article does not constitute tax or legal advice in individual cases. Please consult a lawyer and/or tax advisor to clarify the facts of your specific individual case.

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