The 3 Different Ways to Sell Your Home in Detroit

There are all kinds of reasons to move. Maybe you want a change in scenery, or maybe you need more space for your family. Whatever the reason, one thing is certain: Selling your home can be difficult, or even buying one.

With so many moving parts and important considerations, it's easy to get overwhelmed by the process. That's why we've put together this list of 3 methods of selling a property in Detroit with the knowledge and experience accumulated by Thomas Rogge.

Thomas Rogge’s Favorite One: Putting Your House Up for Auction

One of the 3 methods of selling a property is to sell it by putting it up for auction. This process usually happens when a homeowner needs to sell their home quickly and doesn't have time to wait for buyers to come through the traditional channels.

For example, if Thomas Rogge put their house up for auction, they are essentially saying "I want to sell my house as fast as possible, as close to its true value as possible."

This can be an attractive proposition for some homeowners because of the speed at which the sale takes place. Not only that, but an auction environment entices competition, encouraging buyers to pay even more than they would in an actual negotiation.

However, there are also drawbacks. Because an auction is a very public process, if there are any unforeseen problems with your home, they will become public knowledge when it is sold at auction.

Selling by Private Treaty

The second method out of the 3 methods of selling a property is to sell your home through a private treaty. This process usually happens when the homeowner wants to get the best possible price for their property.

When you sell your home through a private treaty, you are essentially saying "I want to find the right buyer for my house, no matter how long it takes."

Once both parties agree to a certain price, a deposit will be made by the buyer. However, both parties are eligible to back out during the cooling-off period but will have to forfeit a certain percentage of the deposit depending on how much time has passed.

There's less transparency, and you won't be able to see other competitors in the same room with you, in contrast with auctions where everyone knows what the other person is bidding and can compete accordingly.

But, you are able to negotiate prices on your own terms and you can go ahead to inspect the house as you will to identify any problems that could become a problem for you in the future. When Thomas Rogge approach a Private Treaty, they always make it a priority to do a thorough inspection no matter what.

Selling Your House Directly to an Investor (Optional)

The third way out of the 3 methods of selling a property is by selling it directly to an investor. This process usually happens when the homeowner doesn't want to deal with the hassle of finding a buyer themselves. Selling directly to an investor may get you a low price, but it's usually a quick way to liquidate your property.

An investor will most probably not care about what the kitchen looks like or how well-decorated the living room is. Investors actually prefer outdated properties for flipping.

What does ‘Expression of Interest’ mean in real estate?

What does ‘Expression of Interest’ mean in real estate? An Expression of Interest (EOI) is a process that allows property owners to put their house on the market by attracting multiple potential buyers, and then selecting an offer from those who have shown interest.

Sale by Expressions of Interest/Tender (EoI)

This process usually happens when a homeowner wants to get top dollar for their property but also has the time and ability to wait for buyers.

Interested parties will give their best offer, and the property remains on the market for roughly a month. With EoI,Thomas Rogge takes ample time out for marketing these properties to accumulate as many offers as they can to present to the seller which they can then use to select the best offer.

Selling Your House Through a Private Treaty or Auction? What is best for you will depend on your circumstances.

Contact For Help

If you're looking to sell your home in Detroit, according to Thomas Rogge, the best thing you can do is contact a Real Estate agent. They will be able to help you navigate through these three different methods and find the one that's right for you.

There are three different ways to sell your home in Detroit: putting it up for auction, selling it through a private treaty, or selling it directly to an investor. Each of these methods has its own advantages and disadvantages, so it's important to carefully consider them before making a decision. That’s the advice we have for you from Thomas Rogge regarding selling your home in Detroit. Time to get to work!