I recently inherited a home in Edina, MN. Built-in 1955, the home is among the few remaining homes in the neighborhood that have not been replaced with newer homes. After assessing the cost of remodeling, and either renting or selling the property weighed against the advantages of selling as is to a builder it seems to make more sense to sell it as is.
I don't see an advantage to retaining a realtor to sell the home for full commission. I would prefer to use a listing service to place on the MLS. Better still would be to sell directly to a builder. I am not interested in working with a wholesaler and signing an assignment contract.
The home is located in the 6000 block of Zenith Avenue South in Edina.
I am interested in connecting directly with investors who specialize in teardowns and rebuilds.
Minnetonka, MN · Member since 2021 · 11 posts · 8 votes
2y
Erick, there is a lot of risk to anyone who lists your property on the MLS. That is why there is a commission charge. 90% of the lawsuits involve buyers suing the seller and their agent. Which is why you don't see many legitimate "listing services' who will just post your property cheap. MLS is a service of the National Association of Realtors, so only Realtors can list.
I would suggest that you rent the property and consider using a property manager who can finance the improvements for you up front and be repaid out of the rent so you can have passive rental income over the long run. We can do this. Let me know if you would like to talk.