Advice on Stagnant Properties for Sale

[Arron Paulino]

Has anyone ran into stagnant properties that just take forever to sell? I ask since I have two properties that I really have a hard time moving. One has squatter issues that I constantly have to deal with, and the other has a mortgage higher than the sales price, so I am thinking of going the short sale route or deed-in-lieu, but I do not have experience with either avenue. The first one is free and clear, so at this point, I may just want to move on from it and sell it for anything, but I don't know what to do. Ideally, I was trying to sell the first and essentially break-even selling the second by utilizing the funds from the first for anything due at closing. The original plan was to have these as rentals, where I did rehab them once I got them, but that was a year or two ago. Is a fire sale of some sort worth doing just to move on with property one? Any advice on what I should do?