Distress sale: How NOT to turn my property into a bargain

There are situations in which a property needs to be sold quickly. For example, in the event of job loss, insolvency or if the interest rates are too high for follow-up financing. In this pressure situation, owners often make mistakes that lead to financial losses. It is therefore advisable to contact an experienced real estate professional in such a crisis to ensure that your property does not become a bargain for others.

When time is of the essence, it is often not easy for the inexperienced to keep a cool head and make sober decisions. This is particularly true of real estate, in a market that is changing so rapidly. Especially in the current situation with high inflation and possibly rising interest rates, it is not so easy for laypeople. What is the right strategy for selling a property at a fair market price in a short space of time?

Avoid foreclosure

Real estate professionals know what is at stake if no serious prospective buyers are found in a short space of time. Then there is the threat of a forced sale. This is an opportunity for bargain hunters, as properties are often sold below value. If the proceeds are not even enough to satisfy the creditors' claims, this is unfavorable.

Adhering to important marketing steps even under time pressure

Selling a property in a short time at a fair market price is most likely to succeed if it is handled by a real estate expert who knows the local real estate market like the back of his hand. Inexperienced property sellers occasionally skip important marketing steps because they feel that they take too much time. However, the opposite effect often occurs and the sale drags on. Hardly any interested parties come forward. And if they do, they have very low asking prices.

This is why a professional property valuation is essential. It forms the basis for analyzing the right target group and pricing strategy. Only those who proceed with market knowledge and the right strategy, reach the right target group via the appropriate channels and convince with the exposé can ensure the desired demand.

Keep a cool head during price negotiations

With the current high demand for real estate in many regions of Germany, many owners have a good negotiating position. However, they repeatedly lose this advantage because they are unable to justify the value of their property professionally or are unfamiliar with the local real estate market and the factors that influence this value.

Turning to a professional

An experienced local quality estate agent knows what is important in a distress sale. He knows the real estate market in your region and knows how to determine the value of your property. They will take care of obtaining the relevant documents for the sale, market your property to the right target group and negotiate the price with confidence. Your property will be sold in a short time at a fair market price.

Are you looking for support because your property needs to be sold quickly? Then contact us! We will be happy to advise you.

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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