Selling an Estate Property in Today’s Market

Most estate properties have been lived in by their owners for a long time, say 25 plus years.  These properties are usually very well cared for in terms of the mechanicals and structural elements but usually have not been updated (paint, carpet, bathrooms) for many years.  So does it make sense to put a lot of money into an estate property before marketing it for sale?  Probably not.  Here’s why.

In today’s market, there is more demand for homes than there are homes on the market.  Much of this demand is coming from home buyers purchasing a home for themselves.  But there is also a huge demand from investors looking for homes to flip or turn into rentals.  These are usually cash buyers who can close quickly.  You may have even seen their ads on TV or received mailings from them.

Given an estate property that has been updated in terms of roof, mechanicals, and windows over the years, but still has the red shag carpet and paneling from the 1970s, I would advise bringing it to the market at a reasonable price.  If it’s priced correctly and in a good area it will most likely bring multiple offers and be bid up.  With a large number of investors looking for homes, the home doesn’t have to be HGTV-ready to get attention.  For advice on how to market your estate property contact me.