While selling any home presents its own challenges, successfully closing on your for-sale, vacant investment property offers unique hurdles over which even seasoned professionals can stumble. Let’s cover how to sell a vacant investment property in Atlanta to do everything we can to push your property head and shoulders above the competition.
Investigate the Market
Prior to purchasing the property, chances are you did some research into local market pricing, supply, and demand. Now is the time to put any of that research to work while taking another look at how conditions and pricing may have recently changed.
Looking around the surrounding area at the closing prices of similar properties helps to inform your pricing target as well as establish a rock-bottom figure you must achieve in order to make the property investment worth your while. Be realistic with yourself in setting a budget and timeline for any upgrades you plan to accomplish in order to try to sell a vacant investment property in Atlanta for the best price you can get.
Prepare the Property
Now that you know your budget and timeline, you can start putting plans into practice by cleaning the property from floor to ceiling and getting any needed repairs or upgrades completed.
Keep in mind that with a vacant property, you’re going to have a more difficult time covering up any nasty surprises or necessary repairs for which the new owner could be on the hook. This is also a good point in time to assess these repairs and determine if it’s better to complete them yourself and push for a higher asking price or take a slight hit in the asking price to then hold firm through negotiation.
Hire an Agent
Just as with the average home seller, hiring a qualified and experienced real estate professional can certainly offer advantages when you’re trying to sell a vacant investment property in Atlanta.
Meeting with multiple agents that have experience selling investment properties and seeing how they would plan to market your property can help give you an idea of which agent matches your goals and personality the best. Take into account any professional contacts they can call in for assistance to draw additional attention to your listing as well as make your property the talk of the town.
Getting started with an agent now could prove fruitful in the future should things work out and they are able to bring more profitable opportunities your way.
Consider Staging
Since we are dealing with a vacant property, it’s worthwhile to mull over the possibility of staging it until a solid buyer has been found and closing is just around the corner.
The reasons for this are that a staged property is going to be more welcoming to potential buyers and allow for some coverage of small imperfections in the home. On the other hand, some buyers respond quite positively to an empty space. This openness allows these buyers to have an easier time dreaming up how they would use the space and make it their own.
Check in Regularly
Finally, one of the most important things you can do once your property is up to snuff and getting looked at is to stop by and make sure everything is in perfect working order.
Maintaining the cleanliness and organization of both the interior and exterior – including mowing the lawn – is essential to keep buyers interested and to bring in offers. It’s no secret that other for-sale properties in the area will lose buyers over time as they are not cared for, so eliminating this pitfall from your investment property’s sale is pretty simple.
Professional Partners to Sell a Vacant Investment Property in Atlanta
If you’re looking to sell a vacant investment property in Atlanta and you want professional guidance through the process, contact us at (404) 977-5054!