Some homeowners cannot afford to do major renovations before selling their homes. If you’re one of these people wondering if they can still sell a house as is without having to make any repairs, you need not worry, for the answer is—yes!
Although this feat may be challenging, it’s still doable with the right amount of marketing and preparations. Read more below on how you can sell a house fast even without investing in repairs.
What Is A Fixer-Upper House?
When you sell a house that requires significant repairs, that unit will be considered as a fixer-upper. For many real estate experts, a fixer-upper is a property that requires refurbishment, remodeling, or reconstruction. It’s a property that needs either minor or major repairs.
Often, most fixer-uppers need repairs in the foundation, walls, or roof. The bottom line is, a fixer-upper is a property that requires considerable work for people to live in it. The buyer will need to invest in money and time to restore the property or customize it according to their needs.
How To Sell Your Fixer-Upper Home
Perhaps the roof has fallen on your home, or your plumbing is leaking, and you need to quickly sell the property to make way for a more substantial investment. There are also many other reasons why it can be difficult to sell a damaged house, and you should not feel forced into selling at a reduced price that does little to increase your home’s market value.
Thus, here are some ways to approach a fixer-upper sale:
Work With Reliable Real Estate Agents
Trying to sell a fixer-upper on your own might be a challenge. It’s not very common to find signs on businesses or individuals that say ‘we buy houses‘ or ‘we buy fixer-uppers.’ If you want to sell your property quickly, you need to work with a reliable real estate agent to help you with the sale.
Many agents can offer valuable services when it comes to selling fixer-uppers, so finding one to work with is beneficial. One way to sell a fixer-upper home that can attract interested buyers is by offering a free tour.
In choosing a reliable real estate agent, you need to ask the following questions:
- How long their average home listing remains on the market
- Percentage of the list price they average for their sales
- How many homes they sell in a given year
- Do they have experience in selling a fixer-upper?
Set The Right Price
The next thing you need to determine is the market value of your home. It can help talk to a real estate agent who has experience in this area to get a fair estimate of your home’s current value. You may have some outstanding property taxes that are lower than the market value. If this is the case, you may want to contact the local government about any such fees or penalties that need to be paid before listing your property.
As for pricing, other conditions should be factored into account. When learning how to sell a damaged home, location matters. Many people who sell damaged homes live in areas that don’t see a high demand for property. In these areas, it can take many months before you can find a buyer.
The same can be said for areas experiencing a boom in property values. Sometimes, it can take several months or even years before you can sell your home that’s located in a specific area. When the time comes that your location will be considered as a good place for investment, your home would be viewed the same.
Expose Your Home To A Wide Real Estate Market
To help increase the chances of selling your property, you need to expose your home to a broad market as much as possible. You can advertise the property in print ads like newspapers and magazines. You can also post it on many real estate websites.
Many people are also looking for a fixer-upper home with great potential. That’s why it’s crucial to market your property so people from around the country can see it.
Highlight The Bargain Price
When creating an ad for your property, make sure that you emphasize the bargain price. You should post pictures of your home and highlight the potential savings your buyer will get. You can ask a real estate agent to work out the best marketing ad for your property.
Even if you don’t invest in making repairs to your existing property, you can still make a good sale. Selling a house as is automatic makes it a fixer-upper home.
When selling a house that needs repairs, you would need the help of a real estate agent. An experienced agent will help you set the right price for your property. Remember to set lower expectations on the price as new buyers would need to pay additional repairs and home inspection costs.