Do you own a run-down, damaged, or unlivable house that you want to sell? Learn more about how to sell your house fast “as-is” in Portland!
As a homeowner, you know that along with your house comes a fair amount of maintenance and work to keep it in good shape. Sometimes you can fall behind and sometimes something out of your control can damage your property. This can leave you feeling stuck or obligated to a property that isn’t doing anything for you. Maybe your worry is that nobody would want to buy the property in its current state or that one day you might finally get all the repairs done to make the house liveable. That said, there comes a point when you have to decide if the money you are putting into your property is yielding any increase in value or if it is wasting your hard earned cash. Between the repairs, taxes, vacancy costs, and other routine maintenance, owning an unoccupied home can be very expensive. If this sounds like your situation, it’s important to consider a different option for the property.
Find The Right Buyer
Selling the house as-is will not only save you from spending anymore money on the property, but it will also rid you of any stress and put your equity in your bank account. That being said, not every buyer is up for the challenge of repairing your house with major damage, code violations, or mandatory updates in Portland. You will need to find the right buyer who will pay you a fair price and who has the means to bring the property back to life. This often means working with a professional home buyer who will see the property’s potential and have the ability to fix it up at a more economical price than your average buyer would be able to. By selling to someone like this you will be able to sell your house fast, without sinking any more money into the property than you have to.
Set Your Expectations
When selling a damaged property its important to understand that it is not going to fetch the same prices as the houses you see for sale on the MLS. There is work that needs to be done, and someone has to pay for it. By working with an experienced professional buyer, you will be able to sell to someone who knows how to fix up a house at a lower cost than normal. This allows them to offer you a fair price for your house, fix it up themselves, and then recover the money they spent on the repairs by selling it a premium. When you work with a direct buyer you’ll also avoid paying commissions to a real estate agent. These fees run about 6% of the sale price in Portland, or about $24,000 on a $400,000 home. By avoiding these costs altogether you will be keeping thousands of dollars in your pocket.
Disclose Everything
Make sure you are upfront with any and all damage to the home. Not doing so can get you in some hot water down the road if something should go wrong. If you fail to disclose something that becomes a problem in the future, it’s likely you’ll be paying for even more repairs or having to deal with lawsuits or court battles. Creating a list to keep track of damages and needed repairs is a great way to make sure you don’t accidentally leave something out.
Tidy Up
Even if there are parts of the house with major damage that you can’t “clean up”, you can still make the rest of the house look nice. Highlight the positive features of the property and stage the house as if you were going to take pictures to send to somebody. The goal is to show people what the house truly can be if they are willing to fix it up. Show them potential that your home possesses. A little landscaping goes a long way as well. Curb appeal will have an effect on your potential buyer’s first impression, thus making them more likely to make an offer despite the needed repairs.
Don’t Sell Yourself Short
Even though your house may be old, ugly, or run-down, this doesn’t mean you have to give it away for free. A good investor can buy your house for cash and help it realize its full potential with some hard work. They will be able to fix it up at an affordable price, creating a winning situation for you and for them. If you want to sell your house fast in Portland, take a look at all of the options available to you. You might be surprised at how many people are looking for a property just like yours!
Selling your house as-is in Portland may seem impossible, but don’t worry – there are buyers out there for you. Knowing how to market the property, who to market it to, and what to expect will make the transaction a quick and easy one. PDX Home Buyers specializes in helping Portland homeowners sell their properties fast as-is. If you own a house in need of major repairs, we would love to talk to you!