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Updated about 4 years ago,

User Stats

384
Posts
318
Votes
Russell Gronsky
  • Specialist
  • Baltimore, MD
318
Votes |
384
Posts

Trouble selling my renovated flip house

Russell Gronsky
  • Specialist
  • Baltimore, MD
Posted

So just like the title of this post says, I finished the renovation of a house. I put it on the market, admittedly, for more than it is worth, and I had a few tire kickers but no offers. 4 months later, I am now at 5k below what it is actually worth and offering to cover most closing costs but I am still getting no offers. The one problem I did not think would have such an impact is that the house is across the street from train tracks. It's a quiet commuter train that runs on these tracks during work hours only and doesn't use its horn. I put all this in the property description a few weeks ago hoping that it would help but still no offers.

I could keep dropping the price. I have a little bit more to go and not go negative, but is this my only play? I talked to a few agents in the neighborhood that move lots of inventory, but still nothing. Should I offer an extra $500 to the agent who brings me a buyer that closes? Extra $1,000? Should I try to work with a wholesaler or will this just tie up my property for a month or more with no results? 

I am also considering taking the property off the MLS for a month and then re-posting it.

Are there other things I could do to sell this property?

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