How to sell your flip fast and for a high price

I will admit, I thought this idea was ridiculous when I first heard it. Then I talked to those who have had success with it. And then I tried it myself. Guess what? It worked brilliantly. Fact is, it is a buyers market right now. Buyers want discounts, requests granted and they will flex their muscles until you fold. But what if you have multiple offers? Another fact is that most buyers purchase on emotions. This is the place they are going to live, eat, sleep and spend quality time with loved ones. It is a Want Purchase, not a business transaction. So here is what I recommend to sell your flip fast and for a great price.  

1. Define a realistic sales price and a sales price you are willing to except. In this example, let’s say you owe 50K, comps average 90K and the highest comp is 120K. So you are willing to except 80-90K.
2. Put your flip on the market for the highest comparable sale, 120K, about 4 weeks prior to completion of rehab or just for 4 weeks. You do not expect activity or offers, heck rehab is not even complete. You list for 120K.
3. When rehab is complete, drop the price to 90K and say “30K price discount, seller motivated, bring all offers, this property will not last.”

The result is amazing. For some reason buyers think they are getting the deal of a lifetime and you end up getting a ton of activity, hopefully multiple offers close or at asking price and sometimes you can bid up the price. If you want to flip houses in 2-3 months, I suggest you give this strategy serious consideration. I have seen it work time and time again. Worst case scenario, you are listed at average CMA where you would have started anyways.

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