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Updated over 5 years ago on . Most recent reply

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9
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Amanda Fulmer
  • Demorest, GA
2
Votes |
9
Posts

My flip isn't selling

Amanda Fulmer
  • Demorest, GA
Posted

Hey everyone! I desperately need some help!! Last September my husband, my brother-in-law, and myself partnered and bought a our first flip project. We bought the property for 122,0000. After a complete rehab, two contractor changes and several months of learning the hard way, we are finished with the home. We listed it in March and we still have had no offers. It's completely remodeled with a large kitchen and some acerage. We have had a few agents look at the property and tell us that we are priced well for the market at 275,000. Can anyone give some advice? Maybe others have done creative ideas of what to do!?

Most Popular Reply

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242
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273
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Jason Turgeon
  • Realtor
  • Boston, MA
273
Votes |
242
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Jason Turgeon
  • Realtor
  • Boston, MA
Replied

OK, I'm going to give you some tough love. I'm sorry if it hurts. 

This place reeks of cut corners.

Pull it off the market for a few weeks. During that time:

* Hire a professional real estate agent, not a flat fee service. You're in business now. Professionals don't try to cut other professionals out of the business, they see the value in paying for experience. Almost every buyer will be working with an agent, and as an agent I can tell you I would never show this place to a client. Listen to your agent when they tell you what to change and what to price it at. 

* Try to make up for the corner you cut by not hiring a designer. Repaint at least a couple of rooms with more modern colors. Upgrade the cheap lighting fixtures and make sure all the bulbs work. Install modern, stylish cabinet and drawer pulls. Next time, hire a designer to help you avoid these mistakes. 

* Get the property staged by a professional staging company. They'll help you hide some of the shortcuts you took (like the acres of LVP) and help buyers visualize themselves in the house. 

* Address any landscaping issues and exterior touches. You can do it yourself, but make sure it looks like you hired a pro. The landscaping looks OK but the exterior pictures are pretty blah, especially the side with the back door and the crooked siding. Do what you can to pretty it up. 

* After you've done all this, and only after, get professional photos taken and relist it at the price your agent suggests. It may be significantly lower than you're asking. 

Edit: 

Where's the fridge? Are they supposed to provide their own? 

Kitchens and baths sell homes. For next time, read up on functional kitchen design. The kitchen and master bath layouts are so unfortunate, and it's unfixable without serious money. 

The island is set up so that the stools face the kitchen sink. The island blocks the path from the sink to the stove. The stove is on an interior wall so that you can't install a proper exhaust fan to vent smoke. Again, there's NO FRIDGE. And then there's the little stuff, like the missing pulls, sink that's undersized for the space, upper cabinets that could have reached the ceiling but don't, weird dead space in front of the breaker panel, oddly hung light over the island, etc. I can see the buyers turning around and leaving now. 

And that's before they get to that master bathroom with the toilet smack in front of the double vanities, the mirrors that are out of proportion for the wall, the stickers still on the shower doors, and the roll of toilet paper with no home. 

There's no fixing these layouts, so again do what you can with staging and pricing. 

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