
Distress sale: Selling successfully even in tough times
Two years ago, Regina and Fréderic set up their own gym and invested a lot of money in it. Shortly after opening, they had to close again. They fought hard for a long time, but after the second year of coronavirus restrictions, they were unable to get back on their feet. The only option left was bankruptcy, along with a mountain of debt.
Together with Regina's children from her first marriage, the couple have been living in a spacious house with a garden for eleven years, beautifully located and fantastically furnished. The decision to sell their home was anything but easy for them. But there is no other option: a quick sale and the highest possible proceeds are currently their only chance to free themselves from their crushing debt.
Don't risk foreclosure
However , selling under time pressure and out of necessity carries great risks. Fortunately, Regina is well aware of this. If prospective buyers realize that it is a distress sale, they will try to drive the price down. And what if the documents relevant to the sale are not available in time? What if prospective buyers who are enthusiastic during the viewing suddenly back out later or their credit rating proves to be insufficient? Frédérick would rather look for prospective buyers among his circle of acquaintances and "not spend money on a real estate agent as well." But Regina convinces him: "Trying to do it on our own is too risky in our situation. If anything goes wrong, we'll face foreclosure. Then we'll have no control and everything will only get worse."
A professional real estate agent knows what to do
In their hometown, the couple finds a reputable real estate agent who immediately assures them that she will handle their emergency situation discreetly. With professional expertise, the agent approaches the marketing of Regina and Fréderic's house just like any other sale. As a first step, she carries out a thorough valuation of the property and sets a market-driven asking price—a crucial prerequisite for a successful and quick sale. Next, the agent takes care of the necessary documents, takes high-quality photos, and creates a target group-oriented property listing. She also manages to arrange viewing appointments in such a way that neither the increased attention of the neighbors is aroused nor the time and financial pressure Regina and Frédéric are under becomes the focus of the prospective buyers. The sole focus is on the property. It is attractive, which means that several solvent prospective buyers want to buy the house after only a short time. One of the parties even offers more than the original asking price.
The purchase agreement is quickly finalized. Regina and Fréderic are relieved. Even after deducting the real estate agent's commission, they are left with a considerable amount of money. They can pay off most of their debts and now look to the future with more optimism. Especially since, thanks to the real estate agent, Fréderic had time to apply for a well-paid new job while the property was being sold. With success – he starts next month!
Do you need to sell your property quickly? Would you like to avoid potential buyers and neighbors finding out about your situation? Then get in touch with us! We offer professional, reliable, and discreet support.
Notes
For reasons of better readability, the generic masculine form is used in this text. Female and other gender identities are expressly included insofar as this is necessary for the statement.
Legal notice: This article does not constitute tax or legal advice in individual cases. Please consult a lawyer and/or tax advisor to clarify the facts of your specific case.
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