Real estate is a great way to make long term investments. However, if you have a lot of money tied up in real estate investments and are in dire need of cash, liquidation is the easiest option. In very simple terms, liquidation refers to the sale of an asset or its conversion to cash. It is a legal way to increase your cash flow when you are in financial crisis.
In most cases, real estate liquidation is used to remedy bankruptcy. When used in this context, liquidation can be intimidating. This is because a court-appointed trustee assesses the debt situation and determines which assets can be sold to pay off the debt. However, this law can be beneficial in the end because it prevents you from losing all of your assets.
Several factors determine how you liquidate real estate. These include why you are liquidating properties, whether you are selling all or just a few properties, the size and location of the estate, and how quickly you need the money.
If you are looking to liquidate your property, here are 4 ways to do it quickly:
- Group your properties
If you have multiple properties that you want to liquidate quickly, you can group them together rather than selling each property individually. Group properties up will allow you to generate a decent income and find a way to sell dormant properties that you won’t get rid of quickly.
It also allows you to attract group buyers, international investors, big funds, and tycoons who may be looking to make large investments. While you might not have many qualified buyers to target with bundled real estate packages, you can limit your marketing efforts to targeting those few with a single sale.
Also find out which companies are buying properties in your locality and contact them with your offer. For example, if you have a property in Florida, contact us, We buy houses in Jacksonville and will be happy to talk about your property.
- Take advantage of property listings
If you are having trouble paying the high commissions that realtors want, you may want to explore the possibility of placing your real estate property on property listings and paying a lump sum for the service. To attract buyers, put good photos of the property on the listing. If your property is in poor condition, consider repairing it before listing it.
It could mean undertaking a facelift inside and out and that’s important wherever you are in the country. So if you are in Tennessee call a professional roofing in Franklin TN expert to repair the roof to give a new look to your property. This will not only improve the curb appeal of your property; this will increase the value of your property.
For this method, your efforts shouldn’t end there. Consider popularizing your ad more to attract your ideal buyer. For example, post property details to real estate buyers and social media groups investing in your locality.
You can also print flyers and place them in places frequented by your target shoppers, such as gyms, cafes, and local grocery stores. This will help you market your property.
- Hire a real estate agent
Another way to quickly liquidate your property is to hire a Real estate agent. If you choose to use this method, hire an agent who takes care of the niche of the properties you are looking to sell. Such an agent will have connections with investors in your area, which will make it easier for them to find a buyer.
Additionally, an established real estate agent will have a database of leads in their niche. After evaluating your prospect, they will contact them by email or phone to get them interested in your property. This increases your chances of finding a buyer within days if the price you are offering is attractive.
You can liquidate real estate quickly by putting it up for auction. This method involves selling the assets through a bidding process. If you need to sell your property by a certain date, this liquidation process is the most ideal way.
The challenge of liquidating properties by tender is that the amounts that most auctions collect are considerably low relative to the market price. You will rarely find buyers bidding above market value. Use a controlled auction to sell your property. In this case, you will have a base price that each bidder must meet.
If you choose to auction real estate properties, you will need to hire an auctioneer. You can go for one with solid marketing strategies to attract lots of leads to the auction. Before you hire them, have them provide you with the estimated value of the property and negotiate their fees.
Converting real estate investments to cash can seem like a difficult thing to do, especially when you need to do it quickly. However, knowing the options available to you can help you get there faster. If you need to liquidate your property quickly, use one of the four methods described above.