They say every home is unique. That means each buyer and seller is completely different, too, yet they all share one commonality; they want a painless process.
The task of selling your house when it’s in poor condition can be daunting, though. No one wants their home on the market for months or years, especially if you’re packing up to move across the country. Moving to Texas from Wisconsin, for instance, is one move that you want to be done swiftly and smoothly.
Houses that need repairs often take longer to sell, but there are ways to expedite the process so you don’t end up paying for an empty home. As long as you’re prepared for the undertaking, selling your abode in poor condition can be a rewarding project that reveals new talents and passions. Here’s a simple, smart guide on how to sell a house that needs work.
Determine the Damage and Reflect It in Your Listing
You can’t dive into home selling when you don’t know what you’re dealing with. Assess the damage so that you have a detailed description of the condition of the house.
Depending on the extent of the damage, you might want to make yourself a home-selling checklist to help you manage all the areas that need assessments. The little things pile up, but you should have a full idea of the damage before you list your place. After all, the condition of the house will help determine the price.
Many homeowners are surprised to learn that where they live doesn’t pass general inspections due to structural issues, like leaks or plumbing problems, for example. This can be a harsh meeting with reality when you already have potential buyers, so always be aware of the extent of damage before listing your home.
Never try to misrepresent the condition of the house or hide any damage. When you’re selling, you need to be transparent about this information, or it could land you in legal trouble. Don’t let stress cause you to put off assessing the damage because it’s a necessary first step in property selling.
You might even be pleasantly surprised to learn that your house is in better condition than you thought. Some homes simply have crumby curb appeal or cosmetic damage, and reflecting this in the listing price could result in the seller’s favor.
Figure Out if You’ve Got a Flip or Flop
Once you know what you’re working with, you can decide if the house is worth fixing-up before you list it. Some buyers won’t consider looking at homes that need work, especially when the market is slow. To put yourself ahead of other sellers, consider flipping your house before listing it.
Sometimes, condemned houses are quick sales, but they don’t generate much of a profit if any. If the place needs minor work, though, it may be worth having a consultation with a home improvement company that can quickly get the property up to code.
A new roof, floors, or fresh carpet can bring a higher value to your home, but a leaky ceiling or compromised foundation will considerably devalue your house. Compare the potential value of your property with and without a remodel to help you decide if a flip is in your best interests.
Patching holes, applying paint, and fixing faulty faucets are easy home improvements that you could knock out over the weekend with a small budget. Don’t let these minor issues distract buyers from the overall condition of the place.
Some companies will even offer cash for houses in poor condition, so if you want to sell yours quickly, try to get offers from businesses looking to flip properties.
Be Your Own Agent and List Your Own Home
Houses that are in poor condition don’t always generate high value on the property market. Hiring a realtor to help you sell the house will only lessen the profit. Trust yourself to do the job and list your own home.
It’s going to take some research, but it’s not as complicated as many realtors would like you to think. They make a percentage off the final sale for doing a job that you’re capable of doing, too.
You can list your property on certain websites, and the buyers will come directly to you to negotiate the terms of the sale.
You have to be patient, reasonable, and educated on your rights and responsibilities as a home seller. It’s not an easy process, but it’s a task you can undertake with a little reading and some determination.
You Can Sell Your House in Poor Condition
Moving is stressful no matter what, but when houses don’t sell and inspections fail, the entire process becomes miserable with no end in sight. There’s hope for people trying to sell crumby homes, though. Honesty and strategy will take you a long way when you’re selling your place. Get ahead of the game, know what you’re dealing with, and go from there.