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Updated over 1 year ago on . Most recent reply

what to do if the house doesn't sell?
Hello BP,
I have a duplex for sale in St. Louis, MO which both units are vacant and can rent around a total of $2000/month, but it's ready to move in or rent. While there are no big problems with the hardware in the house there are a few needs to be done with cosmetically it, since we're the out-of-state investor and I can't manage any rehab work remotely without a local trust property manager and contractor it's hard for me to renovate it. It has been listed on the market more than 75 days and I have reduced asking price multiple time from $179k to $145k. But, I'm still having problem to sell it, is there anything that I can do to sell it? I have already lost money on this deal, and it hurts, but I really want to sell it asap to limit my loss, any of your suggestion is appreciated.
Thank you!
Most Popular Reply

How long are comparable units on the market for and what are they priced at? Fly in for a few days and fix any problems. Pull it off the market and re-list it. Also ask your realtor what they are doing to get it sold and see if they have a handyperson who can do the repairs-in a timely fashion.