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What Does it Mean to Have a Distressed Property in Minnesota?

Distressed property may be a property that is either in an advanced state of disrepair, which is obvious, and may also have landscaping that has grown wild and is potentially damaging structures or the foundation or facing an impending foreclosure procedure. Although listing and selling your home is a complicated and stressful process during the best of times, these problems become exacerbated by the pressures of time or financial stress. Should you have a distressed property in Minnesota, read on to learn what it may mean to you.

Time Marches On

If you have a distressed property in Minnesota because you’re facing a foreclosure, you’ve likely started receiving notifications from the lender, now is not the time to stick your head in the sand.  If you’re dealing with more significant problems with the house than you can handle, physically or financially ultimately, the longer you wait, the more expensive and extensive the repairs are becoming by the day. Another issue with listing your home for sale on the market with a distressed property is the additional reduction in price caused by the property lingering on the market because buyers prefer homes in ready-to-move-in condition so that you may get little interest on the MLS. Properties listed for a more extended period than the average listing give buyers pause when scrolling through properties and can further delay your sale. A direct buyer like those at MN Nice Home Buyers will make you an offer with a guaranteed closing date within days or set to the day that’s convenient for you.

Using a Real Estate Agent

When you’re selling a home that is in distress, using a real estate agent may not be the best option. This is because agents typically work on commission, and they will want to get the best deal for themselves. This means that they may not be interested in working with a seller who is in a difficult position.

However, there are some benefits to using an agent. Agents can help you market your home and can provide guidance through the process. They also have access to resources that buyers may not be aware of.

If you do choose to use an agent, make sure you find one who is knowledgeable about distressed properties. You don’t want to waste your time with someone who doesn’t know what they’re doing.

Listing Your Property Yourself

Much like listing with a real estate agent when you have a distressed property in Minnesota, you’ll face all of the same expenditures, less the commissions. Your emotional and financial investment in the home can make negotiations difficult, especially when the offer is insultingly low. A direct buyer will lay out precisely what your home would earn through the listing and the expenses you would pay vs. accepting our cash offer, which comes with no out-of-pocket costs and is the amount you’ll receive at the closing. You can sell your house as-is to a direct buyer when you have a distressed property in Minnesota. The direct buyers at MN Nice Home Buyers don’t hide any details about the amount of our offer, which you’ll agree is fair. 

MN Nice Home Buyers

At MN Nice Home Buyers, there are no pressured sales; we are upfront about everything because we want you to make an educated decision based on the numbers and the problems you face. By working with a direct buyer like those at MN Nice Home Buyers, you can avoid the commissions and closing costs, making repairs, and all of the other typical out-of-pocket expenses and hassles of listing your home. The direct buyers at MN Nice Home Buyers will stop, taking the time to listen carefully to you, understand your concerns, and answer your questions thoroughly, with no obligation whatsoever. We do this because at MN Nice Home Buyers, we want you to be certain that you made the best choice out of all options available for your situation. Contact MN Nice Home Buyers today at (320) 412-1200 to learn more!

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