Updated almost 7 years ago on . Most recent reply
Strategies for post-listing repairs: Out of state flip
Running my first flip project out of state. Unfortunately, the contractors did a poor job overall, and we have slowly made repairs. Some little stuff (painting ceilings) and some larger (re-doing all basement drywall). Overall, our basis is still okay (this was a non-performing note we took through foreclosure).
Home has been on market for 45 days. Anyone have a strategy to get more attention? Should I consider pulling it off the market for a week, then re-listing? Dropping a few $100 and adding comments to the MLS that all repairs are complete? Or just wait it out?
I did a price reduction after the first week (following feedback that price was too high but not knowing the extent of the needed repairs (a door was even broken off the hinges!). I think the price is fair now (given all of the repairs) so really want to avoid another price reduction.
Any advice is greatly appreciated.