How To Sell Your House “As Is” When It Needs Major Repairs ￼
There is any number of reasons why you might find yourself saddled with selling a home that has fallen into serious disrepair. Perhaps there was simply a lack of funds to make necessary repairs or upgrades. Or you might have taken on an overly ambitious remodeling project that didn’t go the way you planned.
Maybe you inherited a home from an elderly or disabled relative who was not able to keep up physically with home maintenance. Whatever the reason, if you need to sell your house as-is, there are a few important matters to consider.
Honesty Is the Best Policy
While you shouldn’t beat yourself up over unfinished work, you should also be transparent to potential buyers about what needs to be done. If you have no plans to make the needed repairs and want to sell your house as-is, then you need to make that clear in your listing.
It’s also a good idea to hire a professional home inspector to not only confirm the issues you know about but to also verify if any other problems exist.
Accept That You Won’t Get Top Dollar for Your House
When you sell your house as-is, you need to be realistic and understand that any buyer you get will need to factor in their added costs on top of the purchase price to make the repairs you can’t do. Depending on the types and sizes of the projects, it could impact the sales price a little–or a lot.
Consider Making Some Improvements Yourself
While you may not be able to invest a lot in improvements, there are some tried and true less-expensive ones that can increase a home’s sales price. Sprucing up rooms with a fresh coat of paint in neutral colors, professionally cleaning the carpets, and changing up old, outdated light fixtures can often work miracles.
If you can afford to spend a little more, consider which projects might be deal-breakers for some buyers and if you can afford the fix, tackle them first. Replacing a leaky hot water heater is an example that would fit this category.
Research and Price Your House Properly
Buyers’ or sellers’ market aside, a house that doesn’t sell in a reasonable amount of time sends a signal that something isn’t quite right. While there’s certainly nothing wrong with playing up the positive attributes of your home, if you’re going to sell your house as-is, then it’s important to research the sales prices of similar homes in your area, figure in the costs of needed repairs, and adjust your asking price accordingly.
Consider Sales Options
A traditional sale via a real estate agency is standard practice when a home is in fair condition and you don’t mind paying for an appraisal, inspections, and an agent commission. However, if you want to sell your house as-is and there are ample repairs to be made, you may want to consider a cash sale to an investor.
Third Coast Home Buyers is a cash buyer with years of experience serving the Gulf Coast and Greater Houston area. We are experts at properly valuing and buying distressed properties as-is. Give us a call today for a no-obligation quote and let us show you a simple out of a challenging sales situation.
There is any number of reasons why you might find yourself saddled with selling a home that has fallen into serious disrepair. Perhaps there was simply a lack of funds to make necessary repairs or upgrades. Or you might have taken on an overly ambitious remodeling project that didn’t go the way you planned. Maybe …