War Zone Property - Part II

Part II

Remember our war zone property? Remember the house you purchased for a steal? Now you are desperately trying to sell your home. In fact, you have made such great improvements to the whole property that if you were selling it in another location, you could get four or five times the estimated value. But that is the problem isn’t it?

That is whole problem you have. Now you have decided to go with a realtor.

Remember, you have to go locally with someone who knows the area very well - you need all of the help you can get with this property!

And you are offering ten percent if they can sell within 30 days. It may sound high but the idea is to offer a higher percentage for selling the home in the shortest amount of time. Drop your percentage at each increment of 30 days.

Do you necessarily want to make more of an incentive to the selling agent than the listing agent? The selling agent will take care of what they want to do with that commission themselves. Now you may be thinking you want to say 3% for the listing agent and 7% for selling. But here is what you have to remember: it is not up to you to decide. You let the selling agent handle that. So the 10% does not predetermine what percent the agent gets. It insures that your property will get more attention than the others in the area, especially if it is in as nice a shape as you say it is... it is a perfect kind of house for them. Vacant, in good condition, and you have given them incentive to work on yours.

You may also wonder if you should provide any type of owner financing or anything like that as an option. You have to be careful with this. You can make mention to the realtor that you will take back a small second if you have to. And in that area you very well may. Now you are going to find a buyer that will qualify for about an 85% and take whatever they have down - let the realtor get them a loan and take back a second for the balance.

You also may be considering doing that as a lease option but if you think you have over repaired it (you probably have), you should be afraid they would just mess up what you have already done. You are heading in the right direction to get that house sold!

When it comes to real estate investing, I highly recommend information from Ron LeGrand. For valuable information regarding investing in homes visit RonLeGrand.com. You can also find useful investor resources in the free newsletter at MillionaireMakerNewsletter.com