Our family owns an amazing custom Spanish courtyard mansion in Castle Rock Colorado on a 5 acre lot for the past 20 years. We moved out of state and rented to a responsible family for the past 15 years. We are now open to sell it since we may not move back. We have asked the tenant to move out by end of may 2018. Given we have been away for many years, any tips and referral on timing/contractor/marketing/ luxury market agent is much appreciated. Thank you.
I have a great luxury agent to recommend. I will PM you.
When was the last time you went to the home? I'd imagine it's going to need a bit of work or possible updating. Are you looking to get top dollar with updating it or sell and move on?
Here are a few things that might help you in the selling process. As Matt said, you will need to check out condition issues. With a property valued at this price, the key will be marketing. How many people can you get to see the information about your property so you can reach the most qualified buyers for this property.
If you are not planning any major repair work, I would have see if you could take pictures in the house with their furniture so the house looked lived in. If you are not able to, staging would be important.
It is also important to have someone here that can help you out through the inspection process and help find any contractors to help with any needed concerns.
I would also take into consideration that houses with this price point are usually on the market for longer than lower priced homes and if possible see if your renters could stay longer to reduce the overall cost of selling the home long term.
I would also be interested in how the price tag of $1.2 million was determined. Personally, I would have a Real Estate agent do a CMA (home evaluation) or hire an Appraiser to get the current value so you know what it would appraise for later and you would have no surprises.
With the challenges of selling a property like this from a distance, I would check out a full-service agency that will help you with this listing every step of the way.
With a high end home you will have two options ....put the work into bringing it up to selling condition or price for a quick sale. High end homes can take a long time to sell depending on the market. Based on the fact that you have owned it a long time it should be debt free and therefor you should be more flexible on the price.
Finding the right agent is key however pricing for a quick sale, as is, would be my first option.
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