Has your house seen better days? Do the walls have more stories than your favorite book? Sure, your property may have been through it all, but it doesn’t mean it’s unfit for the market. The only problem is…it needs some serious TLC. If you plan to sell it in its current state, you can get more info here – maybe even get a better deal than you have in mind.
Well, if your home is in disrepair, you might feel like you’re in over your head. Don’t worry. The seven tips below can help you get the most out of selling a house in poor condition:
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Evaluate The House
Does your home need a new roof? Is a bathroom replacement on the cards? Ensure you know all of the necessary repair and maintenance it needs so you can price accordingly.
It’s also advisable to get quotes for the said repairs to understand the related costs. By taking this approach, you can have the upper hand when negotiating. Plus, such information helps you fill in potential buyers on the property’s condition – which leads us to the point below.
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Be Forthright
Yeah, you know the condition of your house is questionable – ever since you let the raccoon family crash in your attic. Or maybe it has underlying issues a home inspector will find out. Whatever the issue, don’t try to sweep stuff under the rug. Let buyers understand what they’re getting and give them an idea of how much it’ll cost to fix.
Hiding flaws can put you in a spot of bother, so lay it all on the table. Coming clean allows buyers to think about their choice, and they can appreciate your honesty.
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Price Accordingly
No one likes sticker shock, so price the house accordingly. Don’t expect to get a premium price due to its condition, but you don’t want to underestimate it either. Thus, consider pricing it competitively to attract buyers. Doing so means buyers will be more likely to make an offer, and you can get a better deal.
That said, only expect a bidding war if your house is a hot commodity. Being flexible and open-minded is the key to selling a property in poor condition. And if you lower the price slightly, it can help close the deal quicker.
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Negotiate Strategically
The right negotiation strategy can make or break the sale. You need to ensure you’re getting the best deal for your house. As such, be prepared to negotiate.
While at it, highlight the home’s positive qualities despite the need for repairs. For instance, if it’s close to amenities or has a huge backyard, point that out. The idea is to help buyers see the potential in the fixer-upper and not merely the flaws. You may also offer incentives to sweeten the deal.
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Make Cosmetic Improvements
No, we don’t mean hiring a team of interior designers. We’re talking about small tweaks that can make a big difference. For instance, you can clean up the interior and exterior of the property, touch up paint, mow the lawns, put in some landscaping, or install new fixtures.
Buyers wouldn’t be excited about walking into a messy house, so do your bit to make it presentable. Besides, such improvements can increase the value of your home, and by extension, the asking price.
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Sell it As-Is
While you might want to make repairs, sometimes it’s advisable to sell the house as-is. Case in point, you might not have the cash to spend on repairs. Likewise, the bank could be breathing down your neck (code for foreclosure), meaning time is of the essence, and renovations might be out of the question.
If you sell a house in Dayton as-is, you will eliminate the complications associated with repairs and inspections. In fact, buyers such as I Buy Pueblo Houses can make you a fair all-cash offer, letting you close the deal quickly so you can focus on something else.
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Don’t Rush
We get it; you need to sell, and fast. But don’t let your eagerness affect the price of the house or lead you to a bad deal. Take it slow to get a buyer willing to make a reasonable offer.
Remember, a poorly executed sale can cost you more in the long run. Bide your time, knowing that it may take a while to find a buyer interested in a fixer-upper – as some buyers prefer turn-key properties and might make up stories about their budget.
Some buyers are okay with turning a diamond in the rough into a real gem. Thus, as you plan to sell a house in poor condition, these tips might come in handy. While at it, be realistic about your expectations. That way, you can list your property at the right price and hopefully attract potential buyers.
