Home selling is rarely ever hassle-free, especially when your house is due for several major (or minor) repairs.
You probably want to sell it to pass on the burden to new owners, who may or may not have the cash to finance these renovations. You may want to sell it to make much-needed dough. Either way, it won’t be as attractive a proposition compared to marketing a newly-built or freshly renovated house.
But don’t fret! There are creative (and ethical) ways to get your pre-loved home off your hands and to new, caring owners. These methods allow you to sell at a reasonable price in a relatively short amount of time. Here are four critical steps to selling a house in dire need of repairs:
You Can Sell As-Is or Do Minor Repairs
You can be upfront with potential buyers or take some time to do minor beautifying beforehand. Opting for the as-is route can remove the hassle from home selling because you won’t need renovations or improvements.
Declare all unrepaired areas in your listing so potential buyers know what they’re getting into. You may get low offers, but it’s a great way to sell the house quickly.
Alternatively, you can repair around 20 to 50 percent of your home and sell it to investors or flippers at a slightly higher price. It’s a win-win situation as you earn a bit more while the new owners spend less when repairing the rest.
Get a Proper Assessment
Never eyeball or use social media listings to determine your house’s value first. Always go to a real estate agent for a pre-sale inspection. They will survey the entirety of your home to give industry-specific details on the house’s condition as a whole and per area.
Only when the inspection is done can you do comparative research on the house’s value and subtract the repair costs (if ever you plan to do repairs) to arrive at the right price. These computations will also justify the cost when meeting with potential buyers.
Highlight the Positives, Not the Negatives
Whether you’re selling as-is or making renovations, knowing about the house’s current damages will discourage buyers from deciding to buy.
That’s why another critical step to hassle-free home selling is to market the positives! For example, instead of pointing out the repairs needed in the attic, the plumbing, and the heating, promote whichever is applies to your home from the list below:
- It has larger-than-average storage space compared to houses in the vicinity.
- It is right in front of a park (this is important for families with young children).
- It is five minutes away from retail and commercial centers.
- It is safe from flooding.
One or more of these positives can lead buyers to overlook the physical damages in favor of conveniences.
Last Resort: Realtor or FSBO
When selling, the last step you can resort to is either going through a realtor or FSBO (for sale by owner).
Realtors have the connections, experience, and knowledge to determine your house’s value, estimate the repair costs, and come up with a suitable price range that benefits you, the buyers, and themself. Remember, you have to pay the realtor for their work!
On the other hand, going FSBO means you will go through the entire process of assessing, pricing, and selling the house yourself. Though a slightly more stressful process than hiring a realtor, you keep all the sale earnings to yourself.
The four critical steps above allow homeowners the freedom to sell their unrepaired homes based on their preferences. It’s an exciting process that can be done solo or with the help of industry experts like realtors and real estate agents. The process may take time, but the earnings will be worth the wait.
However, if you want to sell that house now and earn a few good bucks doing it, get in touch with Quick n Easy, the number one cash home buyer in New Jersey. We serve Newark, East Orange, Edison, and other locations. Get in touch with us today!