Published on March 31st, 2021
When you come to the point in your life where you are ready to sell your home you obviously want to be able to ask top dollar for your property.
To do so you have to make sure that everything in the home is in ideal condition in other words the house must be move-in-ready. Many times this is not the case.
You likely already know that there is almost always something in your home that could use a repair or an upgrade. That is just part of owning a home it is never 100 percent in perfect condition.
In some cases, people get ready to sell their homes only to find out there is something major that needs to be repaired.
You may discover there is a problem with the roof, the foundation, or heating and air units once you have the house inspected. These are just a few repairs that can cost a large amount of money.
If you are in a situation where you are selling your home you may not have the funds to make these costly repairs before putting your home on the market.
Using a Real Estate Agent
When you are selling a house that needs repairs there are only two routes to choose from. The first choice is to use a real estate agent to help you place the house on the market as a fixer-upper.
When you choose this route you are hoping that someone will see the potential in your home and purchase it and make the repairs with the money they save by purchasing a fixer-upper.
You will have to adjust your asking price to reflect that you know potential buyers will have to invest money into this house to get it to its full potential.
Unfortunately, most home buyers are looking for move-in-ready properties and fixer-uppers do tend to stay on the market for a longer time.
When looking at the big picture of the process of selling a home remember that the time on the market can affect the overall amount that you net in the sale of the house.
While your property sits on the market you have to pay certain fees and possibly even a mortgage. This is especially true if it is empty.
Make sure that you have a clear understanding of how long your home could stay on the market before choosing this route.
Finding a Cash Buyer
The second route you can take when trying to sell your home without making needed repairs is finding a cash buyer. Some several companies and individuals making these purchases regularly.
They will most often flip the houses by making needed repairs and upgrades and re-listing the house on the market quickly.
Earlier you read how having your house set on the market for a long time, can end up costing you a significant amount of money before you can sell your property.
When you choose to go the route of finding a cash buyer they will typically make a lower offer than a real estate agent will suggest listing your house on the market for.
However, you are not guaranteed to get your asking price and there is no telling how long your home will be on the market. A cash buyer will instantly purchase the house and the amount will not change.
Now you know when selling a house that needs repairs, you must take your time when choosing which route to take and weigh all the pros and cons. It will take you time to come to a decision and it should.
This is a huge choice that will impact your life. As long as you take your time and allow time to process the data you collect. You will make the correct decision and have no regrets when the process is over.