How to Sell a House That Needs Major Repairsby Amara Amy Digital Marketer
Selling a house that needs repairs makes it hard to compete. New inventory hits the market every day in Danbury, so traditional buyers will likely never see a home needing repairs unless that’s exactly what they’re in the market for.
Homes in need of repair often go unseen because they’re at the bottom of an ever-growing list of homes to view.
Of course, selling a house that needs major repair work is different from selling a house in poor condition.
Each has difficulties to overcome, but one is more likely to sell on the MLS.
Here are some tips on how to sell a house that needs repairs:
1. Remodel Your House Before Listing
Completely renovating the house is the full overhaul solution if you can afford it. This can involve adding/removing rooms by constructing/removing walls, refinishing the counters and cabinets, replacing the appliances, or even demolishing the entire house and foundation and starting over.
This option mostly depends on how much money you have available and are ready to put into the home.
If it’s a house you inherited from someone or couldn’t manage the necessary repairs in the first place, it may not be a financially viable option
Repair Only Major Problems
If you’re helpless to afford all the renovations on a house, focus on the repairs possible buyers and their home inspectors will be looking for the most, including replacing the roof, removing any piping made of hazardous materials, updating the fuse box, fixing mold, termites, or other potential damage, and refreshing the HVAC system.
You can also do cosmetic repairs and a bit of staging like replacing all the window dressing, repainting, caulking, replacing light bulbs, and professionally cleaning your floors and yard.
These touches will go a long way in enhancing your house’s marketability and lessening the impact of remaining repairs needed.
While focusing on the positive, be sure not to purposefully deceive or mislead buyers about possible issues like a crack in the foundation.
Selling the house in “As Is” Condition
Sometimes even these repairs can be too expensive or time-consuming. The structure could have more smoke and fire damage than it’s worth for you to clean.
There are lots of legitimate reasons honest, hard-working families need to sell a house fast, without making these repairs.
These houses are listed on the market “as is.”
An “as is” real estate listing means you’re selling the house correctly as it is, with no intended or expressed warranties, repairs, or other assurances.
Do keep in mind, listing your home “as-is” will take longer than your average listing time which can be anywhere from 3-6 months.
Working with Real Estate Agents
If you’re going to list your home on the market, “as is” or not, don’t underestimate the power of a real estate agent. These professionals list your home, stage it, take pictures, negotiate deals with the buyer, do all your marketing, and so much more.
Of course, they also keep a ~6% commission on the home’s sale price.
Working as your own agent can save you that commission and hassle though, but you’re still likely to pay for your buyer’s agent’s fees just to get your home to sell.
Being a real estate expert, that agent will know how to get paid from the closing costs, and you’ll be better off with a professional on your side too.
Fast Cash Offer CT Saves You the Trouble
We skip all of the above hassles. When you sell your house in need of repairs you won’t have to pay for expensive repairs, agent closing costs, commissions, or even list your house on the market.
There is no staging worries or open houses with buyers taking all your time, and it’s the fastest way to sell your house in any condition; cutting down the sales time to as little as 7 days.
It’s an easy process that gets you the most value in selling a house that needs major repairs without the hassle and headache of listing your house with a Realtor. If you want to know more visit our website https://www.fastcashofferct.com/
Created on Jul 7th 2020 06:19. Viewed 41 times.