what to do if the house doesn't sell?

[Tony Zhang]

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!

[Theresa Harris]

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.