When trying to attract the attention of scarce buyers in a market with too much inventory, there is exactly one thing that brings in traffic: price. If you are not getting the foot traffic at your current price, you have no choice but to cut price until you get the foot traffic needed to generate an offer. Its all a numbers game and those buying are looking in a particular price range - and if you really want to sell you have to be priced inside that range.
I’ve got a duplex that I would ideally like to sell if I could get a decent price for it. However, like many areas, this is not a sellers market for this kind of property. I bought it for 169k about 3 years ago. I owe 119k. Identical duplex next door sold in december 2006 for 194k. The market has deteriorated since then. I want to sell so I can use the equity to trade up to a larger multi. I could keep the property if have too but I would prefer to use the equity in more profitable way.
In an attempt to get top price in our current market. I was thinking of offering 5-10% seller financing. Whats everyones opinion of this?
Any other ideas to help me get a maximum price for this property?