The Home selling process is already difficult enough, but when you add noticeable problems with the property into the equation, it can make the home sale even more complicated.
Inventory is now increasing, and buyers have more options to choose from. Your home, which needs repairs, won’t likely be their first choice, and those who are interested in purchasing may make an offer that’s less than what you wanted to sell it for.
Selling a home with major issues takes a lot of work and there’s never enough time to do it. the longer the home stays with you, the more expensive the costs of repairs and maintenance will be. If you don’t act soon, that property could end up becoming a liability. Fortunately, there are ways to reach the closing table. To sell a fixer-upper here are three things you should do.
1. Get a Home Inspection. You know the property is not in tip top shape, but you’re not exactly sure what is wrong. This is where a professional helps. A home inspector will locate the problems and give you a complete rundown of everything needing attention. Once you’ve identified what has to be fixed, you can evaluate whether you can afford the repairs or replacements, or if you’ll just sell as-is. Also remember that disclosing the issues to a would-be buyer is required by the law. You want to be as transparent as possible and avoid any legal repercussions.
2. Consider Selling To An Investor Or A Bargain Hunter. The worse the home’s condition is the bigger the pool of investment buyers will be. Real Estate Investors don’t want to live in the house, they want to repair and upgrade it so they can sell it and earn a profit. Typically, they will pay with cash and will buy the home as-is. Bargain hunters, on the other hand are in search of their dream home. They are willing to put in elbow grease needed to bring the property up to date, and will overlook a few flaws.
3. Be Realistic With Price. Whatever market we’re in, pricing your home correctly will always be critical. This is especially true for homes that are not in the best condition. You have to set a reasonable price, one that is based on research and makes sense for the market. The best way to do this is to work with an experienced real estate professional.
It is possible to sell a home that requires work. If you follow these tips, you will confidently get to closing. For more information and tips in selling a fixer-upper, call or email me. I’m happy to be your real estate consultant.
Bringing Home Results,
Penny McLaughlin, 206 618-5123, Penny@TalkToPenny.com
Serving: Bainbridge Island, Poulsbo, Silverdale, Kingston, Bremerton, Port Orchard, Port Ludlow and Ocean Shores.