Selling a house requires a lot of work. Even if you hire help and go through the process with the real estate agent, there are many things to consider and decisions to make. Each sale depends on several factors, such as the location of the house, its condition, how fast you want to sell it, and more. That’s why you need to determine your priorities and be realistic. If your home is not in good condition (but you want to move), here are seven tips for selling a house that needs repairs.
When selling a house, it’s natural to think that its condition is among the most critical aspects. After all, it is what potential buyers see.
Sometimes, people are reluctant to start the process because their house needs a lot of repairs. They either think no one will want to buy it and deal with all the necessary fixes or believe it won’t be profitable.
However, the house’s condition is not the only thing that dictates the sale. As we said, a few more factors contribute as well. For instance, some people are willing to invest in a house because of its location.
The Best Tips for Selling a House That Needs Repairs
Get a clear picture of the condition of your house
First, you need to determine what kind of repairs your house needs. Some can be expensive, while others can be relatively affordable. A home inspection is a necessary step when selling a house.
Once you do the inspection, you’ll know what needs to be repaired and whether you can afford it. After that, you’ll have two main choices – to sell the house as-is or to pay for repairs.
Sell the house as-is
One of the best tips for selling a house that needs repairs is to sell it “as-is.” This term refers to selling a home in its current condition. You will not pay for any repairs, significant or more minor. If you previously did the inspection, you need to disclose everything found on the inspection report.
If you haven’t done the inspection, the buyer will request one. However, this doesn’t mean that you need to pay for the repairs. Selling a house as-is means that the seller is not obligated to fix anything.
However, he is obligated to disclose everything. The law requires it. One of the common problems with buying or selling a home is attempting to hide issues with the property. Keep in mind that you can find yourself in legal trouble for failing to mention the significant problems.
Also, you should consider decluttering. Golans Moving and Storage recommends putting unnecessary stuff into the storage unit. When you declutter, the house appears more spacious and doesn’t look as personal. This way, it’s easier for buyers to imagine renovations and fixes they can do.
Analyze potential buyers
If you decide to sell the house as-is, consider who can be your potential buyers. Three main groups interested in purchasing the property that needs repairs are home investors (or flippers), deal hunters, and remodelers.
Flippers look for a house they can invest in and sell for a higher price.
Deal hunters are the ones who are interested in a general area or neighborhood but can’t afford to buy properties in good condition. They’re willing to buy a home that needs repairs.
Remodelers are the buyers looking for something specific, whether it’s a location or the house itself. The important thing is that they are willing to invest in it as long as the home suits their specific demands.
Be realistic with the price
Keep in mind that if you want to sell your house as-is, the property’s price will be lower. So it’s essential to be realistic when determining the value.
You can do research and see the prices of other as-is houses selling in the area. Take into consideration the number of rooms, square feet, and repairs needed and compare it with your home.
If you have trouble determining the price, you can always hire help. Real estate agents have extensive knowledge of the housing market and will be able to set a realistic price.
Consider doing minor repairs
If you don’t have time or money for some major repairs, consider doing minor and affordable fixes. This includes: patching nail holes in drywall, fixing broken hinges, fixing leaky pipes, replacing cabinet knobs or handles, fixing leaking roofs or walk cracks, etc. It doesn’t cost much, but it can drive the price of your property up.
Of course, this depends on your budget. If you’re moving to a new home and selling the old one simultaneously, chances are you won’t be able to afford even minor repairs. That’s why it’s essential to calculate your budget before selling and try to minimize your moving costs. If you manage to cut expenses here, you can redirect that money to affordable fixes.
Deep clean the house
One of the valuable tips for selling a house that needs repairs is to clean it. However, this does not mean the usual clean-up but serious deep cleaning and proper sanitation.
This includes: carpet cleaning, wiping all the surfaces and appliances, scrubbing the walls, cleaning up the yard, etc.
Highlight the best features
It doesn’t matter if your house is a fixer-upper if you know how to market it properly. Even if it requires some serious repairs, it probably has qualities that you should focus on.
Some of the features you can highlight are an excellent location, safe neighborhood, good school district, etc. Also, if you’ve done some major renovation recently, like extensive electrical work, be sure to mention it. The right marketing goes a long way!Selling a regular home can be challenging. It’s only natural to wonder how to sell a fixer-upper. But don’t worry! Follow these seven tips for selling a house that needs repairs and choose the right strategy for you.